Kalimantan Gold Corporation Limited: Drilling to Start at Jelai Gold Project; Drilling to Begin at KSK Copper Project End May...

Kalimantan Gold Corporation Limited (TSX VENTURE:KLG)(AIM:KLG) - 

Highlights



--  Drilling to commence at Jelai next week 
--  Revised timetable agreed with Freeport 
--  Mobilization of field crews to Beruang, KSK, under way 
--  Drilling expected to commence at KSK end May/June



Kalimantan Gold Corporation Limited ("KLG") is pleased to announce that drilling
at its Jelai gold project under joint venture with Tigers Realm Metals Pty Ltd
("Tigers") is expected to commence within the next week. The first drill hole is
targeting high grade shoots at a depth below the epithermal gold - silver
mineralization intersected by hole JCM-067 (9.50m @ 7.08 g/t Au).


Drill camp construction and road repair at the Jelai Project are near
completion, and rig mobilization to site #1 is 70% complete. A water quality
sampling survey has been completed, as part of the Company's environmental
baseline monitoring program.


At the KSK copper project, which is under joint venture with a subsidiary of
Freeport-McMoRan ("Freeport"), a revised timetable for the first year of the
joint venture, reflecting the 10 month delay in obtaining the forestry permit,
has been agreed upon. Safety training has been completed and mobilization of
field crews to Beruang drill camps has commenced. Drilling is planned to
commence at both of the high priority target sites, Beruang Kanan and Beruang
Tengah, by the end of May or early June.


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 Pty Ltd) 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.


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.