Kalimantan Gold Corporation Limited

Kalimantan Gold Corporation Limited

November 29, 2007 02:01 ET

Kalimantan Gold Corporation Limited: Equity Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) - Kalimantan Gold Corporation Limited (TSX VENTURE:KLG)(AIM:KLG) (the "Company") plans to raise a minimum of Pounds Sterling 200,000 and up to Pounds Sterling 400,000 from a non-brokered private placement financing in the United Kingdom from the sale of up to 3,333,333 common shares at a price of 12 pence per share. At current exchange rates this is the equivalent of approximately C$411,000 and up to C$823,000 at a price of C$0.25 per share. The private placement is subject to compliance with applicable securities laws and to receipt of regulatory approval.

The Company intends to use the proceeds from the private placement to fund its ongoing Jelai gold exploration and coal acquisition programmes in Indonesia, as well as general working capital purposes.

About Kalimantan Gold

Kalimantan Gold Corporation Limited is a junior exploration company listed on both the TSX Venture Exchange in Canada and on AIM in London. The Company is focused on exploration in Indonesia and currently has rights in two areas: the Jelai epithermal gold prospect in East Kalimantan and the KSK COW copper-gold porphyry prospects in Central Kalimantan.

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

Contact Information

  • Kalimantan Gold Corporation Limited
    Rahman Connelly
    Deputy Chairman and CEO
    +61 7 552 32298 or +61 418 116 955
    Kalimantan Gold Corporation Limited
    Nick Cottam
    Corporate Relations Manager
    +44 (0) 1394 384115
    Website: www.kalimantan.com
    Keith, Bayley, Rodgers & Co Limited
    Gerald Cheyne
    +44 (0)20 3100 8274
    Email: gerald.cheyne@wcwb.co.uk
    RFC Corporate Finance Ltd
    (the Company's AIM Nominated Adviser)
    Stuart Laing
    +61 8 9480 2500