Kalimantan Gold Options Granted

Kalimantan Gold Corporation Limited (the “Company”) announces that pursuant to the Company’s shareholder approved Stock Option Plan, the Company’s Board of Directors granted a total of 2,250,000 Incentive Stock Options (“Options”) to Directors and granted a total of 1,200,000 Options to employees and consultants for a total of 3,450,000 shares of the Company’s capital stock, that are exercisable between October 6, 2014, and October 6, 2019, at an exercise price of $0.05 per share, being the minimum price allowable under TSX Venture Exchange policies. The common shares issued upon exercise of options granted will be subject to any applicable regulatory hold periods.

The number of Options granted to the Directors subject to these arrangements and their resultant beneficial interests in the capital of the Company are as follows:

    
      
        
          Director
        
        
           
        
        
          

Number Optionsgranted October 6,2014

Total Optionsgranted pursuant toPlan

Number of commonshares held

        
      
      
        
          Faldi Ismail
        
        
        
        
          400,000
        
        
        
        
          2,700,000
        
        
        
        
          5,196,000 *
        
      
      
        
          Peter Pollard
        
        
        
        
          300,000
        
        
        
        
          650,000
        
        
        
        
          202,052
        
      
      
        
          Doris Meyer
        
        
        
        
          250,000
        
        
        
        
          1,200,000
        
        
        
        
          941,134
        
      
      
        
          Raynard von Hahn
        
        
        
        
          300,000
        
        
        
        
          300,000
        
        
        
        
          37,994
        
      
      
        
          Stephen Hughes
        
        
        
        
          1,000,000
        
        
        
        
          1,000,000
        
        
        
        
          -
        
      
      
        
           
        
        
        
        
          2,250,000
        
        
        
        
          5,850,000
        
        
        
        
          6,377,180
        
      
    
    

*This number was incorrectly reported as 5,206,000 in the Company’s October 3, 2014 news released on AIM.

ON BEHALF OF THE BOARD OF DIRECTORS

Faldi Ismail, Deputy Chairman and CEO

For further information please contact:

Faldi IsmailDeputy Chairman and CEO, Kalimantan GoldMobile: [phone]Email: [e-mail]

Gerald CheyneDirector Corporate DevelopmentTelephone: [phone]Mobile: [phone]Email: [e-mail]

VSA Capital LimitedAndrew Raca / Justin McKeeganTelephone: [phone] / [phone]Email: [e-mail]

Kalimantan Gold's Nominated AdviserRFC Ambrian LimitedAndrew Thomson / Trinity McIntyreTelephone: [phone]Email: [e-mail] / [e-mail]

About Kalimantan Gold Corporation Limited

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, Indonesia: the Jelai epithermal gold project in East Kalimantan and the KSK Contract of Work in Central Kalimantan with potential for multiple porphyry copper and gold prospects. 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.

Kalimantan GoldFaldi Ismail, [phone]Deputy Chairman and [e-mail] Cheyne, [phone]Director Corporate DevelopmentMobile: +44 (0) [e-mail] Capital LimitedAndrew Raca, [phone] [e-mail] McKeegan, [phone]orKalimantan Gold's Nominated AdviserRFC Ambrian LimitedAndrew Thomson, +61 8 9480 [e-mail] [e-mail]