Stmnt re Share Price Movement

Kolar Gold Limited

("Kolar Gold" or the "Company")

Statement re. share price movement

The Company notes the increase in the Kolar Gold's share price during today's trading together with the higher than average number of shares being traded.

As stated in the Company's announcement on 30 March 2016, the board of Kolar Gold plans to pursue opportunities that are allied and complementary to the strategy outlined in that announcement which it can develop in parallel with its gold exploration and development interests. The Company also announced that it is seeking opportunities to raise further capital in order to develop these opportunities in conjunction with its interests in Geomysore Mining Services (India) Private Limited. Since that time, the Company has held discussions with a number of parties and these discussions are continuing. Further announcements will be made at the appropriate time.

Aside from the above, the Directors confirm that they know of no reason for the price movement and increased share trading volume.

For further information, please visit www.kolargold.com.au or contact: 

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