KGL RESOURCES LIMITED — Share Issue/Capital Change 2011

Dec 22, 2011

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Cancellation of Options

23 December 2011

Kentor Gol d (ASX: KG L ) is an Australian-b a sed, emer g ing midtier gold co m pany with a dvanced projects in Australia and the Kyrgyz Rep u blic.

Formed in 1 998 and list e d on the ASX in 2 005, the Company expects to c ommence h i gh grade gold produ c tion at Burnakura in Western A u stralia in m id-2012, with potential additional goldcopper p r oduction fr o m the neighbourin g Gabanintha deposit. At Jervois in the Northern Territory, th e Company i s studying the feasibilit y of developing a large, high grade copper-silver resource with potenti a l for the pro d uction of gold and other base meta l s. In the Kyr g yz Republi c , Kentor Gold is rea d y to procee d with the development of the C o mpany’s 80% owned high grade, very low cost Andash Gold-Copp e r Project once site access h a s been obtained. A ndash is ta r geted to produce 70, 0 00 oz gold a nd 7,400 tonnes cop p er pa for an initial six years, wit h high pot e ntial for expansion.

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Kentor Gold Limit e d advises the cancell a tion of 3 6 ,242,126 unlisted options whi c h expired on 21/12/201 1 .

For further information contact:

Mr Sim o n Milroy Managi n g Director Phone: (07) 3121 3 2 06 Email: info@kento r gold.com.a u

Mr. Da v id Waterhouse Investo r Relations Phone ( 03) 9670 5008 Email: d waterhous e @waterhouseir.com.au

Issued capital:

1,062.1 milli o n ordinary s h ares 27.4 million u nlisted optio n s

Market Capitalisation

22 Decemb e r. 2011: $11 7 million