Mineral & Fin Regulatory News (MAFL)

Athol Gold and Value Limited

("Athol" or the "Company")

Acquisition and Issue of Equity

The Board of Athol is pleased to announce that it has issued 207,622,728 new shares in Athol ("New Athol Shares") at 0.33p (the Net Asset Value per share as at 4.30 PM on 16 February 2012) as consideration for the acquisition of a portfolio of listed investments and loan convertible notes from PLUS listed Agneash Soft Commodities plc with a value of £685,155 as at 16 February 2012 (the "Portfolio").

The Portfolio

Application has been made for the 207,622,728 New Athol Shares to be admitted to AIM, which is expected to take place on 27 February 2012. The New Athol Shares will, when issued, rank pari passu with the existing ordinary shares in issue.

Following this transaction, there will be 1,138,140,737 ordinary shares in issue and, on a fully diluted basis, 1,300,744,914 outstanding.

Athol Gold & Value chairman Jennifer Allsop stated:

"This latest deal increases our funds under management materially. We continue to explore other ways to increase our asset backing via the paper funded purchase of assets. We are delighted that Agneash's board has accepted Athol paper at NAV rather than at a share price which fails to reflect the value of our portfolio."

We will be seeking to adjust our portfolio over the coming weeks in light of the recent Ronaldsway deal and today's purchase. Our focus remains on value and especially on gold stocks. We will give a formal investor update with the publication of calendar 2011 results in April."

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