Issue of Equity

14 September 2012

ATHOL GOLD & VALUE LIMITED

("Athol" or the "Company")

ISSUE OF EQUITY

The Board of Athol is pleased to announce that it has issued 7,326,073 new ordinary shares in the Company as consideration for professional fees.

Application has been made for 7,326,073 new Athol Shares to be admitted to AIM, which is expected to take place on 20 September 2012. The New Ordinary Shares will, when issued, rank pari passu with the existing ordinary shares in issue.

Following admission, the Company's enlarged issued share capital will comprise 1,145,466,810 ordinary shares with one voting right per share. The total number of voting rights in the Company is therefore 1,145,466,810.

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