KGL RESOURCES LIMITED — Investor Presentation 2012

Jul 1, 2012

Kentor Gold Investor Presentation July 2012

1. Company Overview

2. Board and Management

1. Murchison Gold Project – Australia

2. Jervois Copper Gold Project – Australia

3. Andash Gold Copper Project – Kyrgyz Republic

2

Kentor Gold Limited (“Kentor”) is an Australian-based gold explorer and developer with projects located in Australia (Murchison and Jervois) and the Kyrgyz Republic (Andash). Kentor expects to commence gold production in CY2012 through its Burnakura project in Western Australia. The Company is also progressing a pipeline of advanced projects in Australia and the Kyrgyz Republic.

Capital structure

Listing	ASX: KGL
Shares on issue Share price (as at 28/6/12)	106.2m $0.655
Market capitalisation	$69.6m
Options on issue Cash (as at 30 Mar 2012)	5.8m (unlisted) $27.4m
Listed	17 May 2005

Projects

Murchison Gold Project

Jervois Copper & Base Metals Project

• Located in Western Australia

• Burnakura to commence production in mid-2012

• Initial production of 25,000 oz p.a.

• Potential to expand production via Gabanintha

• Located in the Northern Territory

• High grade copper & base metals resource

• Currently in feasibility

• Targeting 2014 for commencement of production

Substantial shareholders

Major KMP Investments Pte Ltd – 14.7% shareholders Bank Julius Baer – 4.5% Macquarie Bank – 3.2%

Andash GoldCopper Project

• Located in the Kyrgyz Republic

• Very low cost project .

• Development ready, awaiting local approval

• Targeting 2013 production of 70,000 oz Au and and 7,400 tonnes copper p.a.

3

==> picture [781 x 541] intentionally omitted <==

----- Start of picture text -----

Corporate Structure
KENTOR GOLD
80% 100%
Andash Mining Company (Kyrgyz Republic) Jinka Minerals (Australia)
100% 100% 100%
Andash Murchison
Jervois
Gold Copper Gold
Copper Silver
Gold Lead
Zinc
Kyrgyz Republic
X
Jervois
X Murchison
X
4
----- End of picture text -----

	Tonnes (mt)	Grade Au g/t	Grade Cu%	Grade Ag g/t	Gold (oz)	Copper (t)	Silver (Oz)
Andash Inferred	0.38	0.93	0.25		11,350	950
Jervois Inferred	11.9		1.3	25.2		150,500	9,700,000
Burnakura Inferred	10.6	1.5			516,000
Gabanintha Inferred	4.5	1.4			203,000
Andash Indicated	15.12	1.0	0.38		532,643	57,770
Andash Measured	4.08	1.04	0.48		149,046	19,538
Total Resources	46.58				1,412,039	228,758	9,700,000

5

1. Company Overview 2. Board and Management 3. Jervois Copper Gold Project – Australia

2. Murchison Gold Project – Australia

3. Andash Gold Copper Project – Kyrgyz Republic

6

John Barr AM, MAICD

Chairman, Non-Executive (Former director Oxiana, Transurban, Acacia and Iluka

Simon Milroy B.Eng (Mining)

Managing Director (Formerly GM Project Development for Pan Aust, former Mining Manager Kingsgate)

Hugh McKinnon B.Eng. (Mining)

Executive Director, Country Manager (Has worked on mining and exploration projects across Central Asia since 1996. Resides in the Kyrgyz capital of Bishkek and speaks Russian)

Andrew Daley BSc (Hons) (Mining)

Director, Non-executive (Andrew has a background in corporate finance and has served as a director in a number of resource companies.)

John Taylor B. Eng (Chemical); MBA

Director, Non Executive (previously the MD of Outotec Australasia and is a director of Heemskirk.)

7

Gerard Kelly Chief Financial Officer

Patrick Baldock

General Manager – Murchison Gold Project

Kelvin Russell

General Manager Corporate Finance

Rudy Lennartz

Project Manager – Jervois Project

Kylie Anderson Company Secretary

Keith Mayes

Chief Operating Officer - Australia

8

1. Company Overview

2. Board and Management

1. Murchison Gold Project – Australia

2. Jervois Copper Gold Project – Australia

3. Andash Gold Copper Project – Kyrgyz Republic

9

• Acquired Jinka Minerals in 2011

• Near term cash flow from commencement of production at Burnakura

• Four stage production expansion process

• Existing plant and mining infrastructure

• Significant exploration upside

10

• Burnakura 16,000m

• RC completed

• Gabanintha 2,000m

• RC completed

• 20 open pits and one underground mine

==> picture [422 x 181] intentionally omitted <==

----- Start of picture text -----

11
----- End of picture text -----

12

13

14

NOA 7 and 8 Long Section Showing g/t * m Interval 15

Stage 1 Refurbish and restart existing CIL Plant

Stage 2 Add a heap leach circuit to treat low grade ore

Stage 3 Expand plant to 500,000 tpa

Stage 4 Flotation of copper gold ore

16

17

• Expand to 260,000 tpa

• Commence production in June 2012

• Initial Production Rate 24,000 oz gold p.a.

• Capital cost $14.8m

• Stage 1 cash cost $1,224 / oz

• High grade production – 3 g/t gold

18

19

Note: Photographs of equipment on site at the Indee mine site

20

1. Company Overview

2. Board and Management

1. Murchison Gold Project – Australia

2. Jervois Copper Gold Project – Australia

3. Andash Gold Copper Project – Kyrgyz Republic

21

• Copper and base metal project located in Northern Territory

Chalcopyrite in drill core from Hole RJ 205 508m – 509m down hole

• Significant resource with major exploration upside

• Aggressive drilling program delivering positive results

• Initial metallurgical test work positive

• Fast tracked to development

• Potential to become Kentor’s largest project

• Definitive Feasibility Study Underway ($9m)

22

• 100% Interest

• Granted Mining License

• Land Holding 38 km2

• 12km of prospective strike

==> picture [380 x 309] intentionally omitted <==

----- Start of picture text -----

Outcropping Copper Ore
23
----- End of picture text -----

• Inferred Copper Resource of 11.9 Mt @ 1.3% Cu and 25.2 g/t Ag

• 150,500t of contained copper and 9.7 m oz contained silver

24

2012 Exploration Results

• 60m @1.3 % Cu, 113.3 g/t Ag JMET 11

• 33.8m @ 1.79% Cu, 28.5 g/t Ag RJ201

• 53.5m @ 1.08% Cu, 24.9 g/t Ag RJ202

• 16.3m @ 1.87% Cu, 55.3 g/t Ag JMET3

• 10.3m @ 2.1% Cu, 13.3 g/t Ag JMET4

• 12m @ 3.72% Cu, 40.7 g/t Ag RJ206

• 4.2m @ 6.6% Cu, 30 g/t Ag JMET2

• 21.4m @ 3% Cu, 40.1 g/t Ag JMET6

• 7m @ 2.3% Cu, 23.4 g/t Ag JMET8

• 25m @ 1.5% Cu, 28.2 g/t Ag JMET12

1. Company Overview

2. Board and Management

1. Murchison Gold Project – Australia

2. Jervois Copper Gold Project – Australia 5. Andash Gold Copper Project – Kyrgyz Republic

26

• Advanced gold-copper project

• Development ready status awaiting final approval

• Significant resource & reserve base

• Potential for further regional consolidation

• Developing one of the world’s lowest cost gold mines

27

• Feasibility study complete (Mar 2010)[1]

• Independent Environmental Review to go ahead

==> picture [109 x 37] intentionally omitted <==

----- Start of picture text -----

9.9m @ 7.9g/t Au
8m @ 6 g/t Au
----- End of picture text -----

• Project to proceed once review completed and agreement reached with local community

• One of the world’s lowest cost gold mines

• Low Strip Open pit

==> picture [175 x 23] intentionally omitted <==

----- Start of picture text -----

57m @ at 1.5g/t Au, 1.4% Cu
----- End of picture text -----

• Standard Flotation

• High grade concentrate

• Excellent Exploration Potential

• Further upside from Zones 2 & 3

• Potential 10+years mine life

1Debt facility of US$50m approved by Macquarie Bank in October 2010 for construction of the Andash Copper-Gold Project. This debt facility expired due to delays to development. Kentor expects a new agreement to provide debt financing for this project can be reached once government approvals are granted.

28

==> picture [728 x 399] intentionally omitted <==

----- Start of picture text -----

Talas Valley
----- End of picture text -----

==> picture [40 x 30] intentionally omitted <==

----- Start of picture text -----

29
----- End of picture text -----

• 1.6mtpa to 3.2mtpa throughput

• Simple and conventional open pit and flotation plant

• 3 stage crush, grind, float process

• Average annual production:

• 70,000 oz Au and 7,400t Cu

• High grade concentrate

  • 24.5% Cu and 72 g/t Au

• No deleterious elements

• Initial mine life 6 years

• Resource/reserve expansion likely to significantly increase mine life

30

• Wide ore body, bulk mining

• Outcrops

• Low strip ratio 0.72:1

==> picture [88 x 12] intentionally omitted <==

----- Start of picture text -----

Gold Grade (g/t)
----- End of picture text -----

31

• Low strip ratio

• Base of pit follows footwall

• High grade starter pit

Gold g/t

32

• Cash cost US$29/oz Au (after Cu credits and royalty)

• Capital Cost US$96m[(1)]

• Base Case NPV US$130m

• US$1,000/oz Au & US$2.75/lb Cu

Cost component (US$/t)	Phase 1 (1.5mtpa)	Phase 2 (3mtpa)
Mining	3.46	3.46
Processing	8.62	7.09
G&A	3.38	1.69
Total	15.46	12.24

Project NPV (US$)

• Corporate Income Tax 10%

• Sales Tax 1.5%

• Royalties – Gold 5%, Copper 3%

• (1) To be revised upon gaining development approval

Gold Price	Copper Price (US$/lb)	Copper Price (US$/lb)	Copper Price (US$/lb)	Copper Price (US$/lb)	Copper Price (US$/lb)
(US$/oz)	2.25	2.75	3.25	3.75	4.25
800	56	83	110	138	165
1,000	103	130	157	185	212
1,200	150	177	204	231	258
1,400	197	223	251	278	305
1,600	243	271	298	325	352

33

• Advanced projects with first gold production expected mid-2012

• De-risked portfolio with addition of Australian assets

• Strong exploration upside on all assets

• Andash project provides further upside:

• High grade concentrate highly sought after

– Near-term development (Definitive Feasibility Study complete)

– Very low cash costs (net cash cost of US$29/oz after copper credits)

• 12 years operational experience in Kyrgyz Republic

• Management has a strong track record in gold-copper projects

34

Competent Persons Statements

• The information in this report that relates to mineral resource estimation for Gabanintha and Burnakura is based on work completed by Mr Jonathon Abbott is a member of the Australasian Institute of Mining and Metallurgy. Mr Abbott has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Abbott consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

• The data in this report that relates to Mineral Resource Estimates for Jervois is based on information evaluated by Mr Simon Tear who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”). Mr Tear is a full-time employee of Hellman & Schofield Pty Ltd and he consents to the inclusion in the report of the Mineral Resource in the form and context in which they appear.

• The Resource estimates for Andash in this report are based on information compiled by Dr. Phil Newall, who is a Chartered Engineer and Fellow of the Institute of Materials Minerals and Mining and a full time employee of Wardell Armstrong International. Dr. Newall has sufficient experience which is relevant to the style of the mineralisation and the type of deposit under consideration and to the activity to which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr. Newall has consented to the inclusion of this information in the form and context in which it appears in this report.

• The exploration data in this report relating to the Jervois project is based on information compiled by Rudy Lennartz, who is a member of the Australian Institute of Mining and Metallurgy and a full time employee of Jinka Minerals Ltd. Mr. Lennartz has sufficient experience which is relevant to the style of the mineralisation and the type of deposit under consideration and to the activity to which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Lennartz has consented to the inclusion of this information in the form and context in which it appears in this report.

• The information in this report that relates to exploration results for Murchison is based on work completed by Mr Keith Mayes who is a full-time employee of Kentor Gold Limited and a Fellow of the Geological Society of London. Mr Mayes has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Mayes has consented to the inclusion of this information in the form and context in which it appears in this report.

35

Simon Milroy on +61 7 3071 9003 or visit www.kentorgold.com

ASX Code: KGL Level 9, 40 Creek Street, Brisbane, QLD, AUSTRALIA 4000 Fax: +61 7 3071 9008

Forward-Looking Statements:

This presentation includes certain “Forward-Looking Statements”. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding forecast cash flows and potential mineralisation, resources and reserves, exploration results and future expansion plans and development objectives of Kentor Gold Limited are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

36