Composition of Board

COMPANY ANNOUNCEMENT

FOR IMMEDIATE RELEASE 7 December 2012

KOLAR GOLD LIMITED

("KGL" or the "Company")

Company Registration Number: 53026

COMPOSITION OF THE BOARD

The Company announces the resignation of Richard Johnson and his departure from the Company with effect from today.

The Board thanks Mr Johnson for his contribution over the long period of his involvement with the Company.

Enquiries:

Ardel Fund Services Limited, Company Secretary

Sharon Williams / Lyn Le Prevost

Phone: +44 1481 723573

Fax: +44 1481 732131

Email: [email protected]