Kalimantan Gold Plans Private Placement

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

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES

Kalimantan Gold Corporation Limited (the "Company") plans to raise up to GBP
300,000 from a non-brokered private placement financing from the sale of up to
6,000,000 common shares at a price of GBP 0.05 or US$0.08 per share. The private
placement is subject to compliance with applicable securities laws and to
receipt of regulatory approval. Insiders may participate in the private
placement and the Company may pay finder's fees up to TSX Venture Exchange
allowable limits.


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.


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.