Issue of Equity

25 November 2011

ATHOL GOLD AND VALUE LIMITED

("Athol" or the "Company")

Issue of Equity

Issue of Equity

Athol is pleased to announce that application has been made for the admission to AIM of 21,915,220 new Ordinary Shares ("New Shares"). The New Shares have been issued at 0.415p per Ordinary Share as consideration for an acquisition by Athol of shares in an AIM quoted Company. Admission of the New Shares is expected to occur on 01 December 2011. On admission, the New Shares will rank pari passu with the existing Ordinary Shares in the Company.

Total Voting Rights

Following admission, the Company's enlarged issued share capital will comprise 623,570,730 Ordinary Shares with one voting right per share. The total number of voting rights in the Company is therefore 623,570,730.

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