Kalimantan Gold Confirms Commitments to Private Placement

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRES

Kalimantan Gold Corporation Limited (TSX VENTURE:KLG)(AIM:KLG) (the "Company")
confirms that it has received commitments from investors for 6,000,000 common
shares at a price of US$0.08 or GBP 0.05 per share to raise US$480,000 (GBP
300,000) under its private placement financing announced on April 23, 2012.
800,000 new shares will be issued in Crest. The 5,200,000 shares issued outside
of the Crest system in London will have a hold period of four months plus a day
from the date of issue.


The participating investors include clients of the Company's UK broker,
Alexander David Securities Limited, along with other investors from Australia
and Asia. 


The placement shares will be fully paid and will rank pari passu in all respects
with the existing common shares in the Company. Application has been made for
the placement shares to be admitted to trading on AIM ("Admission") and to be
listed on the TSX Venture Exchange. It is expected that Admission will become
effective and that dealings in the placement shares will commence on May 10,
2012. Regulatory approval for the placement has also been received from the TSX
Venture Exchange. The total number of common shares in issue following
completion of the placement will be 171,407,156. 


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. The
proceeds of the placement, combined with the funds on hand, provide the Company
with sufficient working capital to fund operations for 2012 and beyond.


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.