Lionsgold Regulatory News (LION)

Kolar Gold Limited

("Kolar Gold", "Kolar" or the "Company")

Appointment of New Director

Kolar Gold (LON: KGLD), the AIM-quoted India-Finland gold explorer and trading exchange provider, is pleased to announce the appointment of Modali Hanuma Prasad as Non-executive Director with immediate effect.

M. Hanuma Prasad, aged 51, holds a Doctorate in Geology and brings with him 22 years' experience in geological survey and exploration within the mining industry. Dr. Hanuma Prasad worked with the Geological Survey of India for eight years in geological mapping and mineral exploration projects. He has worked as a geologist across multiple territories around the world, including the Archaean greenstone belt in Eastern Finland near to the location of Kolar's Finnish joint venture. In addition to his geological experience, he has been hands on throughout his career with feasibility studies, business development, project due diligence and corporate strategy.

Dr. Hanuma Prasad is currently Chief Executive Officer of Australian Indian Resources Ltd, an India focused Australian multi-metals group that established Geomysore Services (India) Private Limited ("Geomysore") - a leading exploration company in India and of which Kolar Gold currently owns 22.31%. Dr. Hanuma Prasad has been working with Geomysore since 2001, initially as exploration manager, and currently as technical and strategy advisor overseeing, together with the board of Geomysore, the feasibility study under way at Jonnagiri.

Cameron Parry, CEO of Kolar Gold, commented: "We are very pleased to welcome Hanuma to the board of Kolar Gold. He has very impressive technical and industry experience that will be of great benefit to Kolar. His appointment reflects our strong working relationship with Geomysore and strengthens Kolar's board in preparation for the next phase of the Company's development."

The following details in relation to the appointment of Dr. Prasad are disclosed in accordance with Schedule 2(g) of the AIM Rules:

There are no other disclosures in accordance with Schedule 2(g) of the AIM Rules.

For further information, please visit www.kolar-gold.com or contact:

Emily Fenton