Kalimantan Gold Corporation Limited
TSX VENTURE : KLG
AIM : KLG

Kalimantan Gold Corporation Limited

April 23, 2012 02:00 ET

Kalimantan Gold Plans Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 23, 2012) - Kalimantan Gold Corporation Limited (TSX VENTURE:KLG)(AIM:KLG) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES

Kalimantan Gold Corporation Limited (the "Company") plans to raise up to £300,000 from a non-brokered private placement financing from the sale of up to 6,000,000 common shares at a price of £0.05 or US$0.08 per share. The private placement is subject to compliance with applicable securities laws and to receipt of regulatory approval. Insiders may participate in the private placement and the Company may pay finder's fees up to TSX Venture Exchange allowable limits.

The Company intends to use the proceeds from the private placement to fund its ongoing programs 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 has two exploration projects in Kalimantan: the Jelai epithermal gold project in East Kalimantan (which is optioned to Tigers Realm Metals) 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). For further information please visit www.kalimantan.com.

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
    faldi.ismail@kalimantan.com

    Kalimantan Gold Corporation Limited
    Gerald Cheyne
    Director Corporate Development
    +44 (0) 20 7731 1806 or Mobile: +44 (0) 77 1747 3168
    gerald.cheyne@kalimantan.com
    www.kalimantan.com

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

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

    KLG's Nominated Adviser
    RFC Group Limited
    Stuart Laing
    +61 8 9480 2506
    stuartl@rfc.com.au