Transaction in Own Shares

ATHOL GOLD & VALUE LIMITED

("Athol" or the "Company")

TRANSACTION IN OWN SHARES

The Board of Athol announces that on 12 October 2012, under the authority granted by shareholders on 4 September 2012, it purchased 6,250,000 ordinary shares of the company at a price of 0.09 pence. These shares are to be held in treasury.

Following the share buyback the Company's issued ordinary share capital consists of 1,145,466,810 ordinary shares of which a total of 6,250,000 ordinary shares are held in treasury. Therefore the total number of ordinary shares with voting rights in Athol is 1,139,216,810 ordinary shares.

 The above figure of 1,139,216,810 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FSA's Disclosure and Transparency Rules.

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