FOR: KALIMANTAN GOLD CORPORATION LIMITED

TSX VENTURE, AIM SYMBOL: KLG

November 19, 2007

Kalimantan Gold Corporation Limited: Oxiana Completes Initial Phase of Exploration

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2007) - Kalimantan Gold ("Kalimantan" or the "Company")
(TSX VENTURE:KLG)(AIM:KLG) reports that Oxiana Limited has completed its obligation to spend US$2,500,000.
Pursuant to the option deed Oxiana must deliver to Kalimantan Gold within the next 30 days their comprehensive
report on the results of this initial program and within 30 days after that Oxiana must deliver Kalimantan
notice as to their intentions with respect to exercising their option under the option deed.

The option deed covers Kalimantan Gold's 941 km2 Contract of Work (the "KSK COW") in Central Kalimantan and
initially committed Oxiana to spend US$2.5 million on data compilation and drilling 12 deep holes over a period
of 12-18 months. Oxiana will then have the option to elect to earn a 40% stake by the completion of a pre-
feasibility study and 66.67% stake by the completion of a bankable feasibility study. By this time it will have
spent an estimated US$37.5 million.

Oxiana geologists reviewed a decade of KGC exploration data relating to the KSK COW. This detailed geological,
geochemical and geophysical review and assessment delineated three key areas of porphyry-related mineralization
in the Beruang Kanan prospect area as well as quality drill targets at the Beruang Tengah, Baroi and Mansur
prospects. Work programs completed to date encompass geological mapping, reprocessing of geophysical and
geochemical data and drill testing. Reconnaissance exploration was conducted on other anomalous areas on the
KSK COW to determine potential and delineate additional targets.

To date 16 holes for 5,980 metres of diamond drilling have been completed. While the geology and alteration
observed confirm porphyry style mineralisation, significant volumes of drilling assays are still outstanding.

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 is focused on exploration in Indonesia and currently has rights in two
areas: the Jelai epithermal gold prospect in East Kalimantan and the KSK COW copper-gold porphyry prospects in
Central Kalimantan.



FOR FURTHER INFORMATION PLEASE CONTACT:

Kalimantan Gold Corporation Limited
Rahman Connelly
Deputy Chairman and CEO
+61 7 552 32298 or +61 418 116 955

OR

Kalimantan Gold Corporation Limited
Nick Cottam
Corporate Relations Manager
+44 (0) 1394 384115
Website: www.kalimantan.com

OR

Keith, Bayley, Rodgers & Co Limited
Gerald Cheyne
+44 (0)20 3100 8274
Email: gerald.cheyne@wcwb.co.uk

OR

RFC Corporate Finance Ltd. (the
Company's AIM Nominated Adviser)
Stuart Laing
+61 8 9480 2500

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.



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