FOR: KALIMANTAN GOLD CORPORATION LIMITED

TSX VENTURE, AIM SYMBOL: KLG

November 29, 2007

Kalimantan Gold Corporation Limited: Equity Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) - Kalimantan Gold Corporation Limited (TSX
VENTURE:KLG)(AIM:KLG) (the "Company") plans to raise a minimum of Pounds Sterling 200,000 and up to Pounds
Sterling 400,000 from a non-brokered private placement financing in the United Kingdom from the sale of up to
3,333,333 common shares at a price of 12 pence per share. At current exchange rates this is the equivalent of
approximately C$411,000 and up to C$823,000 at a price of C$0.25 per share. The private placement is subject to
compliance with applicable securities laws and to receipt of regulatory approval.

The Company intends to use the proceeds from the private placement to fund its ongoing Jelai gold exploration
and coal acquisition programmes 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 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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