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| | Mon Apr 23, 2012
Kalimantan Gold Plans Private Placement
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| | Vancouver, B.C. - Kalimantan Gold Corporation Limited (the "Company") plans to raise up to £300,000 from a non-brokered private placement financing from the sale of up to 6,000,000 common shares at a price of £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 or contact:
Faldi Ismail
Deputy Chairman and CEO, Kalimantan Gold
Mobile: +61 (0) 423 206 324
Email: faldi.ismail@kalimantan.com
Gerald Cheyne
Director Corporate Development
Telephone: +44 (0) 2077311806
Mobile: +44 (0) 7717473168
Email: gerald.cheyne@kalimantan.com
Alexander David Securities Limited
Bill Sharp/ David Scott
Telephone: +44 (0) 20 7448 9820
KLG's Nominated Adviser
RFC Group Limited
Stuart Laing
Telephone: +61 8 9480 2506
Email: stuartl@rfc.com.au
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.
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| | You can view the Next Press Releases item: Mon Apr 30, 2012, Drilling To Start At Jelai Gold Project; Drilling To Begin At KSK Copper Project End May/ Early June
You can view the Previous Press Releases item: Wed Apr 11, 2012, Kalimantan Gold Nomad Name Change
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