Issue of Equity

01 March 2012

ATHOL GOLD AND VALUE LIMITED

("Athol" or the "Company")

ISSUE OF EQUITY

The Board of Athol announces that it has today agreed an allotment of 3,662,743 new ordinary shares ("Ordinary Shares") at a price of 0.37p in settlement of the T1ps Investment Management (IOM) Limited investment management fee of £13,552.15 for the 3 months ended 31 December 2011.

Application will be made for 3,662,743 new Ordinary Shares in Athol, which, when issued, will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on AIM. This is expected to be on 07 March 2012.

Following admission, the Company's enlarged issued share capital will comprise 1,138,140,737 ordinary shares with one voting right per share. The total number of voting rights in the Company is therefore 1,138,140,737.

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