Kalimantan Gold Corporation Limited
TSX VENTURE : KLG
AIM : KLG

Kalimantan Gold Corporation Limited

October 22, 2008 02:01 ET

Kalimantan Gold Appoints Experienced Coal Manager

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2008) - Kalimantan Gold Corporation Limited (TSX VENTURE:KLG)(AIM:KLG) is pleased to announce the appointment of Arif Hadian as Manager of its Coal Division. Arif Hadian, who is a geologist, has worked in the East Kalimantan region for a number of years and has extensive experience in the coal sector, working for large international companies such as BHP Billiton, Essar and Sumitomo Corporation. His experience ranges from sourcing new coal areas through to permitting, exploration, feasibility, production and marketing.

Commenting on the appointment, Kalimantan Gold's CEO, Rahman Connelly, said: "We are very pleased to have Arif on board at a time when quality coal assets in East Kalimantan are becoming available on more favorable terms than in the past. Macquarie Bank has agreed to work with Kalimantan Gold to devise strategies to evaluate debt financing alternatives for coal projects and we thus feel confident that we will be able to finance the right opportunity."

The company currently has an option over nine coal concessions in East Kalimantan which it is continuing to explore with the objective of taking one or more of them to production.

About Kalimantan Gold

Kalimantan Gold Corporation Limited is a junior exploration company listed on both the TSX Venture Exchange in Canada and on AIM. The company is focused on copper, gold and coal prospects in Indonesia and has exploration rights in two areas: the Jelai epithermal gold prospects in East Kalimantan and the copper 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
    Email: rconnelly@ozemail.com.au
    or
    Kalimantan Gold Corporation Limited
    Nick Cottam
    Corporate Relations Manager
    +44 (0) 1394 384115
    Website: www.kalimantan.com