Kalimantan Gold Corporation Limited: Equity Financing Closed

Kalimantan Gold Corporation Limited (TSX VENTURE: KLG)(AIM: KLG) (the "Company") has raised Pounds Sterling 394,000 from a non-brokered private placement financing in the United Kingdom from the issue of 3,283,333 common shares at a price of 12 pence per share. At current exchange rates this is the equivalent of C$772,043 at a price of C$0.24 per share.

The Company will use the proceeds from the private placement to fund its ongoing Jelai gold exploration and coal acquisition programmes 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 focused on exploration in Indonesia and currently has rights in two areas: the Jelai epithermal gold prospect in East Kalimantan and the KSK COW copper-gold porphyry prospects in Central Kalimantan.

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

Contacts: Kalimantan Gold Rahman Connelly Deputy Chairman and CEO +61 7 552 32298 or +61 418 116 955 RFC Corporate Finance Ltd. Stuart Laing Company's AIM Nominated Adviser +61 8 9480 2500 Kalimantan Gold Nick Cottam Corporate Relations Manager +44 (0) 1394 384115 Website: www.kalimantan.com