Kalimantan Gold Corporation Limited

Kalimantan Gold Corporation Limited

April 28, 2009 02:00 ET

Kalimantan Gold Completes C$851,213 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2009) - Kalimantan Gold Corporation Limited (TSX VENTURE:KLG)(AIM:KLG) (the "Company") is pleased to announce that it has raised C$852,213 from a non-brokered private placement financing announced on March 13 and April 16, 2009, involving the sale of 17,024,268 common shares at a price of C$0.05 per share. Finder's fees of C$23,472 were paid. The common shares issued are restricted from trading through the TSX Venture Exchange until August 28, 2009.

The proceeds will be used principally to fund the Company's ongoing coal exploration programs in Indonesia, as well as for 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 active on gold, coal and copper prospects in Indonesia and has exploration rights in three areas: the Jelai epithermal gold prospect in East Kalimantan, an option over the IBP coal prospect, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.

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
    Rahman Connelly
    Deputy Chairman and CEO
    +61 7 552 32298 or Mobile: +61 418 116 955
    Email: rconnelly@ozemail.com.au
    Kalimantan Gold Corporation Limited
    Gerald Cheyne
    Director Corporate Development
    +44 (0) 2077311806 or Mobile: +44 (0) 7717473168
    Email: gerald.cheyne@kalimantan.com
    Kalimantan Gold Corporation Limited
    Nick Cottam
    Corporate Relations Manager
    +44 (0) 1394 384115
    Email: nick@nickcottam.com