TIDMKLG 
 
 
   NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN 
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY 
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS. 
 
   Kalimantan Gold Corporation Limited (the "Company") is pleased to 
announce that it plans to undertake a brokered private placement to 
place up to 108,443,747 common shares at a price of GBP0.012 per share 
for total gross proceeds of approximately GBP1.3 million (approximately 
equivalent to CDN $2.5 million at CDN $0.023 per share). The Company has 
received commitments from investors for 108,443,747 common shares to be 
issued and settled in CREST. The participating investors include clients 
of the Company's UK broker agents, VSA Capital Limited and Optiva 
Securities Limited. 
 
   The private placement is subject to compliance with applicable 
securities laws and to the receipt of regulatory approval.  Insiders may 
participate in the private placement and the Company will pay broker 
fees in connection with the private placement in accordance with the 
policies of the TSX Venture Exchange. The private placement will not be 
conducted in North America and the shares placed will be settled through 
CREST and as such the TSX Venture Exchange has granted a discretionary 
waiver to its minimum pricing rules. 
 
   The Company will pay fees to brokers who introduced the Company to 
private placement investors within the policies of the TSX Venture 
Exchange. 
 
   It is intended that the proceeds of the private placement will be used 
to fund the continuation of the Company's 2015 infill and expansion 
drilling at the Company's Beruang Kanan prospect within the Company's 
KSK Contract of Work in Kalimantan, on progressing conversion of the 
Company's Beutong Izin Usaha Pertambangan ("IUP") from an exploration 
IUP to an exploitation IUP and for general working capital purposes. 
 
   The placement shares will be fully paid and will rank pari passu in all 
respects with the existing common shares in the Company.  Application 
has been made for the placement shares to be admitted to trading on AIM 
("Admission") and to be listed on the TSX Venture Exchange. It is 
expected that Admission will become effective and that dealings in the 
placement shares will commence on June 3, 2015. The total number of 
common shares in issue following completion of the placement will be 
503,168,500. 
 
   ON BEHALF OF THE BOARD OF DIRECTORS 
 
   Tony Manini, Deputy Chairman and CEO 
 
   For further information please contact: 
 
   -Ends- 
 
   Tony Manini 
 
   Deputy Chairman and CEO, Kalimantan Gold 
 
   Telephone: + 61 3 8644 1300 
 
   Email: tony.manini@kalimantan.com 
 
   VSA Capital Limited 
 
   Andrew Raca / Richard Buckle 
 
   Telephone: +44 20 3005 5004 / +44 20 3005 5005 
 
   Email: araca@vsacapital.com 
 
   Optiva Securities Limited 
 
   Jeremy King 
 
   Telephone: +44 203 137 1904 
 
   Email: Jeremy.King@optivasecurities.com 
 
   Kalimantan Gold's Nominated Adviser 
 
   RFC Ambrian Limited 
 
   Andrew Thomson / Oliver Morse 
 
   Telephone: +61 8 9480 2500 
 
   Email: andrew.thomson@rfcambrian.com / Oliver.Morse@rfcambrian.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. 
 
   United States Advisory 
 
   The securities referred to herein have not been and will not be 
registered under the United States Securities Act of 1933, as amended 
(the "U.S. Securities Act"), have been offered and sold outside the 
United States to eligible investors pursuant to Regulation S promulgated 
under the U.S. Securities Act, and may not be offered, sold, or resold 
in the United States or to, or for the account of or benefit of, a U.S. 
Person (as such term is defined in Regulation S under the United States 
Securities Act) unless the securities are registered under the U.S. 
Securities Act, or an exemption from the registration requirements of 
the U.S. Securities Act is available. Hedging transactions involving the 
securities must not be conducted unless in accordance with the U.S. 
Securities Act. This press release shall not constitute an offer to sell 
or the solicitation of an offer to buy any securities, nor shall there 
be any sale of securities in the state in the United States in which 
such offer, solicitation or sale would be unlawful. 
 
   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#1924449 
 
 
  http://www.kalimantan.com