Kalimantan Gold Corporation Limited

April 21, 2011 02:00 ET

Miscellaneous medium priority announcements



April 21, 2011

Kalimantan Gold New CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2011) - Kalimantan Gold Corporation Limited (the

"Company") (TSX VENTURE:KLG)(AIM:KLG) is pleased to announce the appointment of Faldi Ismail to the post of

Deputy Chairman and Chief Executive Officer to replace Rahman Connelly in that position.

Mr. Connelly successfully negotiated joint venture agreements on the Company's two main assets - the Jelai Gold

project and the KSK Contract of Work in Kalimantan, Indonesia. The Company is very grateful to Mr. Connelly for

his time and efforts over his tenure in this position and is glad of his willingness to stay on as a director

and remain involved with the Company.

Mr. Ismail joined the Company as a director in September 2009. Mr. Ismail has specialised in the restructure

and recapitalisation of a wide range of Australian Securities Exchange ("ASX") listed companies. He has also

been instrumental in establishing a number of new listings on the ASX (with a specific focus in the resources

sector) and has been very active in the Indonesian resources sector over the past years. Mr. Ismail, like Mr.

Connelly, resides in Australia where he is currently a director of several ASX-Listed resource companies. Mr.

Ismail's energy will be called upon to guide the Company through this next new and exciting phase of the

Company's life of investigating new property and acquisition opportunities while overseeing the management of

the work programs on the Company's Jelai Gold project by Tigers Realm Minerals Pty Ltd. and the KSK CoW

porphyry copper/gold project by Freeport-McMoRan Exploration Corporation.

For the first time since 2008, pursuant to the Company's shareholder approved Stock Option Plan, the Directors

have granted Incentive Stock Options to Directors, employees and consultants on 4,875,000 shares of the

Company's capital stock, exercisable for up to five years at a price of $0.12 per share, which price is the

last closing price of the Company's shares prior to the date of grant. The options granted will be subject to

any applicable regulatory hold periods.

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.

This news release contains forward-looking statements that are based on the Company's current expectations and

estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect",

"project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or

statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve

known and unknown risks, uncertainties and other factors that could cause actual events or results to differ

materially from estimated or anticipated events or results implied or expressed in such forward-looking

statements. Such factors include, among others: the actual results of current exploration activities;

conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible

variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry;

delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other

factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-

looking statement speaks only as of the date on which it is made and, except as may be required by applicable

securities laws, the Company disclaims any intent or obligation to update any forward-looking statement,

whether as a result of new information, future events or results or otherwise. Forward-looking statements are

not guarantees of future performance and accordingly undue reliance should not be put on such statements due to

the inherent uncertainty therein.



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 OR David Scott

44 (0) 20 7448 9820

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.


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  • Kalimantan Gold Corporation Limited