[KINGOLD JEWELRY REPORTS 2011 FOURTH QUARTER AND YEAR-END FINANCIAL RESULTS Company to Hold Conference Call with Accompanying Slide Presentation On March 27, 2011, at 8:30 a.m. ET WUHAN CITY, China, March 26, 2012 -- Kingold Jewelry, Inc. (NASDAQ: KGJI) Mr. Zhihong Jia, Chairman and CEO of Kingold, stated, “We were pleased to report solid operating results in 2011. Our focus] []

[Page] [CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in the Registration Statements on Form S-3 (No. 333-179694 and No. 333-179260) and Form S-8 (No. 333-177661) of Kingold Jewelry, Inc. of our reports dated March 26, 2012, relating to the consolidated financial statements and the effectiveness of internal control over financial reporting, which appear] [CERTIFICATION OF CHIEF EXECUTIVE OFFICER I, Zhihong Jia, certify that: 1. 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered] [CERTIFICATION OF CHIEF FINANCIAL OFFICER I, Bin Liu, certify that: 1. 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered] [(1) (2)] [(1) (2)]