KGL RESOURCES LIMITED — Capital/Financing Update 2009

Jul 13, 2009

ASX / MEDIA RELEASE

14 July 2009

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KENTOR GOLD LTD

ACN 082 658 080

Successful Raising

Kentor Gold Limited (ASX Code: KGL) announces the successful completion of a $1.05 million capital raising through the placement of 26.15 million ordinary shares at 4 cents-a-share. The funds will be used for:

• Funding the due diligence on the Andash Gold/Copper project,

• Progressing the development of the Savoyardy Gold Project,

• Ongoing corporate costs

The placement was conducted to institutional and sophisticated investors and was managed by Bell Potter Securities Limited. The final price achieved was $0.04 representing, approximately, an 11% discount to the volume-weighted average price of Kentor Gold shares traded between 29[th] June and 7[th] Jul 2009.

Kentor Gold Managing Director Mr Simon Milroy said “ We are pleased with the strong support for the share placement and welcome a number of new investors to the Company. The appetite for the shares obviously reflects the strong level of interest in the new Andash project. Due diligence is progressing well with findings on the project, to date, continuing to meet our expectations ”

Andash is a high grade, low cost open pit gold/copper project in the Kyrgyz Republic, with a planned annual production of 60,000 oz gold and 5,000 tonnes copper over eight years targeted for a 2011 start-up. Kentor Gold has an option to purchase an 80% interest in the project. Further information on the project is provided in Kentor Gold ’ s announcement of 30 June 2009 and presentation of 6 July 2009.

The placement shares will be issued in two Tranches. The first tranche of shares comprising approximately 13.7 million shares will be issued under the company ’ s 15% placement capacity. The second tranche comprising approximately 12.45 million shares will be issued subject to shareholder approval to be obtained at a General Meeting of the Company ’ s shareholders on or around 27[th] August 2009.

About the Company:

Kentor Gold Limited (ASX Code: KGL) is an Australian-based company formed in 1998 as a specialist gold explorer. The Company was listed on the Australian Securities Exchange (ASX) in March 2005 and has diversified into exploration for gold, geothermal energy and base metals in Central Asia where it has highly regarded, established local management.

– Kentor Gold is considering the development of two gold mines in the Kyrgyz Republic at Andash and Savoyardy. The option to acquire the Andash project was announced 30 June 2009.

For further information contact:

Simon Milroy Managing Director Kentor Gold Ltd Phone: + 61 (0) 7 3121 3206 Mobile: + 61 (0) 448 851 575

Registered Office Level 36 Riparian Plaza, 71 Eagle St Brisbane 4000 Phone: 61 (0) 7 3121 3206

Kyrgyz Republic Office 235/2 Erkindik Prospect, Bishkek Kyrgyz Republic 720739 Phone: +996 312 621 389

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www.kentorgold.com.au