Mineral & Financial Investments Regulatory News (MAFL)

14 January 2011

ATHOL GOLD LIMITED (AIM: AHG)

DIRECTORATE CHANGE

Athol Gold Limited ("AHG" or the "Company") has appointed Robert ("Robin") Michael Andrews as non-executive director with immediate effect.

Robin Andrews (aged 59) brings extensive experience of financing resource companies and projects. He has served on the boards of several public companies in both Canada and the UK including two of which he founded Avocet Mining and Angel Mining. He began his business career as an investment analyst with de Zoete & Gorton in London before spending 30 years in investment banking with AE Ames, James Capel and Mead & Co. Robin is a graduate of Edinburgh University having studied civil engineering and economics.

The following information is provided in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies.

Robin Andrews is a director or partner or has been a director or partner of the following entities during the previous five years:

Current directorship(s):

Puffin Holdings Limited

Directorships held within the past 5 years:

Whimbrel Investments Limited

There are no further disclosures to be made in accordance with Schedule 2(g) of the AIM Rules.

The Company also announces that Mr Stephen Smith has resigned as non-executive director of the Company with immediate effect. The Board would like to thank Mr Smith for his contribution to the Company.

Athol Gold Limited

Waseem Shiraz

+44 207 399 4380

Tom Winnifrith

+44 1624 676848

Strand Hanson Limited

James Harris / Angela Peace

+44 207 409 3494

Bishopsgate Communications

Nick Rome / Michael Kinirons

+44 207 562 3350