🕐04.09.11 - 12:54 Uhr

WG: KALIMANTANS HALF-YEAR RESULTS 2011



Von: Kalimantan Gold Corporation Limited [mailto:] Gesendet: Freitag, 26.

August 2011 08:12 An: Betreff: Kalimantans Half-Year Results 2011 _____ Press Release - Friday, August 26, 2011 Kalimantans Half-Year Results 2011 _____ Attached are the Condensed Consolidated Interim Financial Statements of Kalimantan Gold Corporation Limited (the "Company") for the half year ended June 30, 2011 (the "Half-Year Report").

The Half-Year Report is available for viewing on www.sedar.com or www.kalimantan.com.

The Half-Year Report has been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting ("IAS 34") as issued by the International Accounting Standards Board ("IASB").

The policies applied in the Half-Year Report interim financial statements are based on International Financial Reporting Standards ("IFRS") issued and outstanding as at August 25, 2011, the date the Board of Directors approved these interim financial statements for issue.

Any subsequent changes to IFRS that are issued and effective as at December 31, 2011, could result in a restatement of these interim financial statements, including the transition adjustments recognized on conversion to IFRS. The highlights of the half-year and up to August 25, 2011 include: The signing of a joint venture agreement (the "Agreement") with a wholly owned subsidiary of Freeport-McMoRan Exploration Corporation ("Freeport") in relation to the Companys KSK CoW copper project on April 18, 2011. The signing of an option agreement with Tigers Realm Minerals Pty Ltd.

an Australian based, privately owned resources company on February 16, 2011, in relation to the Companys Jelai Gold project. Freeport, as the worlds second largest copper producer with extensive Indonesian experience, is an exceptional and ideal partner to rapidly advance the KSK Copper Project and create value for all stakeholders.

Tigers are an ideal partner to rapidly advance the Jelai Gold Project and create value for all stakeholders.

They have extensive experience in Indonesia across exploration, project development, and mine operations, a skilled team able to rapidly explore and develop projects and Tigers board and management team have a strong track record in raising capital globally. Tigers share the Companys commitment to building a sustainable relationship with the local communities.

On April 21, 2011, the board of directors of the Company appointed Faldi Ismail to the post of Deputy Chairman and Chief Executive Officer to replace Rahman Connelly in that position. Mr.

Connelly successfully negotiated joint venture agreements on the Companys two main assets -- the Jelai Gold project and the KSK CoW.

The Company is very grateful to Mr.

Connelly for his time and efforts over his tenure in this position and is glad of his willingness to stay on as a director and remain involved with the Company. Mr.

Ismail joined the Company as a director in September 2009.

Mr.

Ismail has specialized in the restructure and recapitalization of a wide range of Australian Securities Exchange ("ASX") listed companies.

He has also been instrumental in establishing a number of new listings on the ASX (with a specific focus in the resources sector) and has been very active in the Indonesian resources sector over the past years.

Mr.

Ismail, like Mr. Connelly, resides in Australia where he is currently a director of several ASX-Listed resource companies.

Mr.

Ismails energy will be called upon to guide the Company through this next new and exciting phase of the Companys life of investigating new property and acquisition opportunities while overseeing the management of the work programs on the Companys Jelai Gold project by Tigers and the KSK CoW porphyry copper/gold project by Freeport. Since assuming the role of CEO, Mr.

Ismail has increased his ownership of the Company by purchasing 1,000,000 common shares of KLG in the market, so that his total holdings in KLG is now 4,430,000 shares (2.7% of the Company). For further information please visit www.kalimantan.com or contact: -Ends- For further information please contact: Faldi Ismail Deputy Chairman and CEO, Kalimantan Gold Mobile: +61 (0) 423 206 324 Email: Gerald Cheyne Director Corporate Development Telephone: +44 (0) 2077311806 Mobile: +44 (0) 7717473168 Email: Alexander David Securities Limited Bill Sharp/ David Scott Telephone: +44 (0) 20 7448 9820 KLGs Nominated Adviser RFC Corporate Finance Ltd Stuart Laing Telephone: +61 8 9480 2506 Email: 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. Das Bild wurde vom Absender entfernt. Das Bild wurde vom Absender entfernt. Das Bild wurde vom Absender entfernt. Das Bild wurde vom Absender entfernt. _____ Copyright C 2011 KALIMANTAN GOLD CORPORATION LIMITED (KLG) All rights reserved.

For more information visit our website at http://www.kalimantan.com/ or send email to . _____



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