Kalimantan Gold Corporation Limited

Kalimantan Gold Corporation Limited

July 05, 2011 02:00 ET

Kalimantan Gold Appoints Commissioner to Subsidiary

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 5, 2011) - Kalimantan Gold Corporation Limited (the "Company") (TSX VENTURE:KLG)(AIM:KLG) is pleased to announce the appointment of Mr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kalimantan Surya Kencana ("KSK"), a wholly owned Indonesian subsidiary of the Company which holds the KSK Contract of Work.

Mr. Bambang Setiawan is a former Director General of the Department of Mines and Energy in Indonesia. Mr. Setiawan's deep local knowledge and experience both within the government and the mining industry in Indonesia is a welcomed addition to strengthening KSK's expertise in government relations and the board of KSK. Mr. Setiawan received his Ph.D in Geology and Mining Exploration from The Ecole Nationale Superieure Des Mines de Paris, France, in 1993. Mr. Setiawan spent 30 years at the Department of Mines and Energy before joining KSK.

In conjunction with this appointment, the Company has granted 200,000 five year share purchase options, at an exercise price of C$0.07 per share.

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 has two exploration projects in Kalimantan: the Jelai epithermal gold project in East Kalimantan (which is optioned to Tigers Realm Minerals) and the KSK Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects (which is optioned to a wholly owned subsidiary of Freeport-McMoRan Exploration Corporation).

RFC Corporate Finance Ltd acts as KLG's Nominated Adviser for the purposes of its AIM listing, contact Stuart Laing, ph: +618 9480 2506 or email: stuartl@rfc.com.au.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Kalimantan Gold Corporation Limited
    Faldi Ismail
    Deputy Chairman and CEO
    Mobile: +61 (0) 423 206 324

    Kalimantan Gold Corporation Limited
    Gerald Cheyne
    Director Corporate Development
    +44 (0) 2077311806 or Mobile: +44 (0) 7717473168

    Alexander David Securities Limited
    Bill Sharp/ David Scott
    +44 (0) 20 7448 9820