KGL RESOURCES LIMITED — Major Shareholding Notification 2009

Apr 23, 2009

FORM 605 Corporations Act 2001 Section 671B

NOTICE OF CEASING TO BE A SUBSTANTIAL HOLDER

To: Company Name/Scheme KGL - Kentor Gold Limited

082 658 080

ACN/ARSN 082 658 080 1. Details of Substantial Holder(1) Name Acorn Capital Limited ACN/ARSN (if applicable) 082 694 531 There was a change in the interests of the 22-Apr-2009 substantial holder on The previous notice was given to the company on 03-Jun-2008 The previous notice was dated 03-Jun-2008

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of Change	Person whose relevant	Nature of	Consideration given in	Class and number of	Person's votes
	interest changed	change	relation to change	securities affected	affected
03-Jun-2008 to22-Apr-2009	Acorn Capital Limited	Sale	$30,000.00	1,000,000	1,000,000

3. Changes in Associates

The persons who have become associates (2) of, ceased to be associates, or have change the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Name of Association

Print Name BARRY FAIRLEY Capacity Managing Director

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Date 23-Apr-2009

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