KGL RESOURCES LIMITED — Management Reports 2013

Apr 3, 2013

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4 April 2013

Australian‐based Kentor Gold Limited (ASX: KGL)has entered the ranks of operating gold mining companies in 2012. The Company is progressing a pipeline of advanced projects in Australia and the Kyrgyz Republic.

The Murchison Gold Project in Western Australia ‐ commenced production in mid‐2012, with the potential to add gold‐copper production from the neighbouring Gabanintha deposit.

The high grade, very low cost Andash Gold‐Copper Project in the Kyrgyz Republic – development‐ready, awaiting site access and targeting production at 70,000 oz gold and 7,400 tonnes copper pa for an initial six years, with high potential for expansion.

The Jervois Copper‐Silver‐Gold Project in the Northern Territory – targeting 2014 start‐up following current studies into developing the high grade copper‐silver resource with potential for gold, magnetite and other base metals.

High-grade Mineralisation Intersected Below NOA1 Pit

Background

The Murchison Gold Project is an asset of Kentor Minerals (WA) Pty Ltd. On 28 March 2013, Kentor Gold Limited (Kentor or the Company) announced that the Directors of Kentor Minerals (WA) Pty Ltd had appointed Peter McCluskey, Tim Michael and Darren Weaver of Ferrier Hodgson as Administrators of Kentor Minerals (WA) Pty Ltd.

Highlights

• High-grade mineralisation intersected at NOA1

• Mineralisation remains open to south and at depth

• Potential for underground development

In February, an RC drilling program of 10 holes for 1312m was completed at NOA1 (Figure 1) to test the potential for a resource extension below the existing open pit. The results of this program were very encouraging with several high-grade intersections (Figure 2). Best results include:

13BNRC291 9m @ 5.5g/t Au from 78m 13BNRC295 7m @ 5.13g/t Au from 86m 13BNRC290 3m @ 9.17g/t Au from 96m 13BNRC289 1m @ 49.6g/t Au from 94m

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Issued capital:

140.0 million ordinary shares 4.7 million unlisted options

The NOA1 deposit is interpreted to be the southern extension of the NOA2 deposit offset by ~200m by an E-W trending fault. The geological sequence drilled in the recent holes at NOA1 is similar to the sequence at NOA2 providing support for this interpretation.

The NOA1 and NOA2 deposits are closely associated with a shear zone (Burnakura Thrust), a major structure that extends ~2km and controls mineralisation at the NOA7/8, NOA4 and NOA6 deposits. The southern extension of the shear zone south of NOA1 is under transported cover and has not been drill tested by previous companies.

Results from the recent drilling at NOA1 suggest mineralisation within the shear zone is of consistent moderate to high grade in fresh rock and therefore likely to continue both along strike to the south and down dip.

Kentor Gold Limited

www.kentorgold.com.au

Importantly the deepest hole on the southern line, BNRC295 intersected 7m @ 5.13g/t Au at a vertical depth of 100m. Mineralisation at NOA2 extends to greater than 200m vertically giving a clear indication of the potential at NOA1.

The close proximity of the new mineralisation at NOA1 to the existing underground development at NOA2 is significant because it will allow any resource delineated at NOA1 to be mined from underground with a relatively low capital investment. A 200m development drive would be sufficient to access the mineralised zone at NOA1.

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Figure 1 Plan of NOA 1 and NOA 2

4 April 2013

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Kentor Gold Limited

www.kentorgold.com.au

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Figure 2 Longitudinal section looking west through NOA1

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4 April 2013

Kentor Gold Limited

www.kentorgold.com.au

Next Steps:

A 14 hole RC drilling program has been designed to test for resource extensions below and to the south of the existing drilling (Figure 2). The drilling is planned on a 20m by 20m grid pattern that should further upgrade and increase the resource. Figure 3 below highlights intervals of significant mineralisation at both NOA1 and NOA2 that remain open down dip and along strike that will be the target of future exploration. All planned exploration expenditure is subject to approval by the administrators.

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Figure 3 NOA1 (left) and NOA2 (right) looking due west highlighting mineralised intercepts from recent drilling

For further information contact:

Mr Simon Milroy Managing Director Phone: (07) 3071 9003 Email: info@kentorgold.com.au

Mr. David Waterhouse Investor Relations Phone (03) 9670 5008 Email: dwaterhouse@waterhouseir.com.au

4 April 2013

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Kentor Gold Limited

www.kentorgold.com.au

Competent Person Statement

The data in this report is based on information compiled by Martin Bennett, who is a member of the Australian Institute of Geoscientists and a full time employee of Kentor Gold Limited.

Mr. Bennett 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. Bennett has consented to the inclusion of this information in the form and context in which it appears in this report.

Table 1 Significant results from NOA 1 RC drilling

Hole ID	Easting	Northing	RL	Dip	Azimuth	From (m)	To (m)	Interval (m)	Gold g/t
13BNRC0287	646090	7010065	445	‐63.7	251	77	79	2	9.58
13BNRC0288	646088	7010065	445	‐51	251.3	75	80	5	3.16
13BNRC0289	646090	7010067	445	‐75.3	279 Incls.	93 93	95 94	2 1	25.7 49.6
13BNRC0290	646090	7010085	445	‐69.2	271.5	87 92 96	88 93 99	1 1 3	5.62 4.09 9.17
13BNRC0291	646085	7010092	445	‐60.7	284.2	71 78	72 87	1 9	3.24 5.50
13BNRC0292	646084	7010093	445	‐50.5	300.5	55	59	4	1.13
13BNRC0293	646087	7010091	445	‐51	328.6	72	74	2	0.19
13BNRC0294	646092	7010086	445	‐77.6	291.2	93 101 117 135 144	95 104 119 136 145	2 3 2 1 1	5.22 2.13 2.85 1.49 1.90
13BNRC0295	646092	7010066	445	‐73.3	245.2	86	93	7	5.13
13BNRC0296	646090	7010087	445	‐68.1	291.6	91 98 108 117	96 99 109 123	5 1 1 5	1.28 14.00 1.86 6.00

4 April 2013

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