Directorate Change - Replacement

GENERAL TEXT AMENDMENT

The following amendment has been made to the 'Directorate Change' announcement released on 23/07/12 at 14:13 under RNS No 2815I.

Alastair Ford has joined the Board as Chief Investment Officer and Executive Director, not as Non-Executive Director stated in the previous announcement.

All other details remain unchanged.

The full amended text is shown below.

ATHOL GOLD & VALUE LIMITED

("Athol" or the "Company")

Directorate Change

Athol is pleased to announce that Alastair Ford has joined the Board as Chief Investment Officer and Executive Director with immediate effect.

Mr. Ford (aged 41) has been one of London's leading commentators on junior natural resource companies for more than ten years. He has extensive experience in the analysis and appraisal of junior mining companies across the globe. Educated at Oxford University, Mr. Ford has been the Editor of Minesite.com since January 2008. Mr Ford was previously a Director of Athol.

Current Directorships

None

Previous Directorships

Athol Gold and Value Limited

Mr Ford has a direct interest in 1,064,766 Athol shares and has 1,829,268 options exercisable at 0.82p.

There are no further disclosures to be made in relation to Mr. Ford under Schedule Two, paragraph (g) of the AIM Rules for Companies.

Jennifer Allsop, Chairman of Athol, commented "We welcome Alastair back to Athol and look forward to benefitting from his valuable input in future endeavours."

For further information please call: