TIDMKLG 
 
 
   VANCOUVER, British Columbia, May 8, 2015 (GLOBE NEWSWIRE) -- Kalimantan 
Gold Corporation Limited ("KLG" or the "Company") is pleased to report 
that drilling of the first four holes at Beruang Kanan Main ("BKM") 
deposit has been completed. The rigs are positioned on section lines 
BKM32450 and BKM31750 and progressing westward to complete these lines 
before moving south to infill and extend target areas. 
 
   In all four holes drilled to date, and particularly BKM32450-01 and 
BKM31750-02, visual copper mineralization comprising chalcocite, 
covellite and digenite were observed in logging. Three distinct 
intervals of stockwork and fracture controlled mineralization were 
reported in BMK32450-01, including a zone of strong near-surface 
chalcocite mineralization. A broad interval of stockwork and fracture 
controlled pervasive copper mineralization was logged in BKM31750-02, 
reinforcing evidence from field mapping that mineralization at the 
southern end of the BKM deposit is thickening and more pervasive. 
 
   Completed holes have been logged, sampled and sent for analysis at PT 
Intertek Utama Services Laboratory located in Jakarta. The Company 
expects to release assay results for these first four holes next week. 
 
   Drilling continues on both lines where at least seven holes are planned 
on line BKM32450 and ten holes on line BKM31750. 
 
   Drill production has been impressive to date with each rig drilling up 
to 35 meters per day and individual holes taking 2-3 days to complete. 
 
   KLG is planning to rapidly advance the BKM deposit through to scoping 
study stage over the course of 2015. An extensive program of resource 
infill and expansion drilling, metallurgical test work and mining 
studies is planned, subject to positive results and the availability of 
ongoing funding. Several nearby prospects, Beruang Kanan South "BKS", 
Beruang Kanan West "BKW" and Beruang Kanan Polymetallic "BKZ" have 
potential for additional mineralization and will be scout drill tested. 
 
   The Beruang Kanan Project 
 
 
   -- Initial Inferred Mineral Resource of 47 million tonnes averaging 0.6% Cu 
      or 621,700,000 pounds of copper (reporting cut 0.2% Cu) including 12 
      million tonnes averaging 1% copper (reporting cut 0.7% Cu) (see September 
      26, 2014 press release). 
 
   -- Mineral Resource estimate is for the BK Main deposit only and is based on 
      assays from 74 diamond drill core holes drilled between 1998 - 2007 and 
      2012 - 2013. 
 
   -- The Mineral Resource is contained predominately within a shallow dipping 
      deposit that extends from near surface to a depth of approximately 120 
      meters over an area of 1100m (N-S) by 950m (E-W) and remains open in 
      several directions. The near surface nature and geometry of the deposit 
      is expected to be highly favorable for shallow open pit mining. 
 
   -- The BK Main deposit is a part of the broader Beruang Kanan Project that 
      also includes high priority targets for additional mineralization at the 
      "BKS", "BKW" and "BKZ" prospects, each lying within 1.0km of BK Main. 
 
 
   Qualified Person 
 
   Information and data disclosed in this press release have been reviewed 
and verified by KLG's qualified person, Stephen Hughes, P. Geo, a 
Qualified Person within the meaning of NI 43-101. 
 
   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 three exploration projects in Indonesia: the KSK 
Contract of Work in Central Kalimantan with potential for multiple 
copper and gold deposits; the Jelai epithermal gold project in East 
Kalimantan; and the recently acquired Beutong 
copper-gold-silver-molybdenum project in Sumatra. For further 
information please visit www.kalimantan.com and view our most recent 
company presentation. 
 
   ON BEHALF OF THE BOARD OF DIRECTORS 
 
   Tony Manini, Deputy Chairman and CEO 
 
   For further information please contact: 
 
   Tony Manini 
 
   Deputy Chairman and CEO, Kalimantan Gold 
 
   Telephone: +61386441300 
 
   Email: tony.manini@kalimantan.com 
 
   VSA Capital Limited 
 
   Andrew Raca / Justin McKeegan 
 
   Telephone: +44 20 3005 5004 / +44 20 3005 5009 
 
   Email: araca@vsacapital.com 
http://www.globenewswire.com/newsroom/ctr?d=10133481&l=14&a=araca%40vsacapital.com&u=mailto%3Aaraca%40vsacapital.com 
 
 
   Kalimantan Gold's Nominated Adviser 
 
   RFC Ambrian Limited 
 
   Andrew Thomson / Oliver Morse 
 
   Telephone: +61 8 9480 2500 
 
   Email: andrew.thomson@rfcambrian.com 
http://www.globenewswire.com/newsroom/ctr?d=10133481&l=15&a=andrew.thomson%40rfcambrian.com&u=mailto%3Aandrew.thomson%40rfcambrian.com 
/ oliver.morse@rfcambrian.com 
http://www.globenewswire.com/newsroom/ctr?d=10133481&l=15&a=oliver.morse%40rfcambrian.com&u=mailto%3Aoliver.morse%40rfcambrian.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. 
 
   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. 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Kalimantan Gold Corporation Limited via Globenewswire 
 
   HUG#1920042 
 
 
  http://www.kalimantan.com