FOR: KALIMANTAN GOLD CORPORATION LIMITED

TSX VENTURE, AIM SYMBOL: KLG

February 5, 2008

Kalimantan Gold Corporation Limited: Continued Drilling at Jelai Encounters Near-Surface Significant
Intercepts of Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 5, 2008) - Kalimantan Gold Corporation Limited (TSX
VENTURE:KLG)(AIM:KLG) announces further drill results from the ongoing drill program at its 100% owned
Jelai epithermal gold property in East Kalimantan where hole 26 encountered 5.6 grams per tonne
("g/t") gold over an interval of 5.6 metres including 17.33 g/t gold over 1.20 metres and hole 27
encountered 2.15 g/t gold over an interval of 5.95 metres including 10.30 g/t gold over 0.65 metres in
the Sembawang vein; all within 47 metres from surface.

A recent inspection of the Jelai property by Dr Peter Pollard has confirmed the Company's approach to
the exploration programme at Jelai. In his February 1, 2008 report, Dr Pollard concluded that
exploration conducted by Kalimantan Gold since the start of the present programme "has met with
considerable success and has enhanced the chance of delineating a major gold resource in the Jelai
district".

The Company has completed 27 holes to depths of up to 80 metres totaling 2,000 metres of drilling of a
planned 4,000 metre drill programme. The most significant drilling results of the total programme are
as follows:

--------------------------------------------------------------------------
                                   Au     Ag
Hole       From     To  Metres   (g/t)  (g/t)  Vein         Date announced
--------------------------------------------------------------------------
JCM-01    21.55  24.70    3.15   5.76    2.6   Lipan        Nov. 19, 2007
--------------------------------------------------------------------------
JCM-04    22.35  23.10    0.75   5.75    4.2   South Mewet  Nov. 19, 2007
--------------------------------------------------------------------------
JCM-09    37.73  38.30    0.57   1.16  Below   Sembawang    Nov. 19, 2007
                                       detec-
                                        tion
--------------------------------------------------------------------------
JCM-12    32.40  36.32    3.92   1.33    1.2   Sembawang    Nov. 19, 2007
--------------------------------------------------------------------------
JCM-13    19.45  20.45    1.00   2.23    2.4   Sembawang    Nov. 19, 2007
and       32.00  36.75    4.75  10.43   14.6   Sembawang
--------------------------------------------------------------------------
JCM-14    35.00  36.50    1.50  13.44   20.6   Sembawang    Nov. 19, 2007
--------------------------------------------------------------------------
JCM-16    34.50  38.50    4.00   2.27    1.1   Sembawang    Feb.  5, 2008
--------------------------------------------------------------------------
JCM-19    43.30  44.30    1.00   5.48    2.0   Balangan     Feb.  5, 2008
--------------------------------------------------------------------------
JCM-25    14.60  15.50    0.90   2.96    9.0   Sembawang    Feb.  5, 2008
--------------------------------------------------------------------------
          32.00  35.50    3.50   1.01    1.0   Sembawang
--------------------------------------------------------------------------
JCM-26    42.00  47.20    5.20   5.60    2.7   Sembawang    Feb.  5, 2008
--------------------------------------------------------------------------
includes  43.40  44.60    1.20  17.33    7.5
--------------------------------------------------------------------------
JCM-27    12.55  18.50    5.95   2.15    4.2   Sembawang    Feb.  5, 2008
--------------------------------------------------------------------------
includes  16.70  17.35    0.65  10.30    7.6
--------------------------------------------------------------------------

Note: Drill intercept lengths only are reported as there is insufficient
      information to estimate true width. Sampling was carried out over
      geologically interesting intervals using half core. Analyses were
      conducted by PT Indoassay Laboratories in Balikpapan using a 50g
      fire assay for gold and silver by AAS.

The scout rig is continuing to test the Sembawang Vein at 50 metre centres to identify mineralization
close to the surface for deeper drill targeting with a larger man-portable rig, soon to be mobilized
to the project. In addition, a second scout rig has been sourced to increase the rate at which the
vein systems can be tested as geological mapping continues to expand the known strike length of a
number of veins.

Technical Discussion

The Jelai project in East Kalimantan is a low-sulphidation epithermal precious metal system consisting
of at least seven major veins and numerous subsidiary veins with a cumulative strike length of more
than five kilometres. Drilling to date has discovered at least five potential ore shoots within the
restricted strike length that has been explored. Interpretation of mineral textures in the veins and
comparison with models for low-sulphidation epithermal systems suggests that the current level of
exposure is near the top of the precious metal zone. Previous drilling on the Mewet shoot indicates
that the vein becomes thicker with depth and that the mineralization extends over at least 200 metres
vertically. Mineral textures are logged in the veins to determine the controls on ore shoot
development as a further predictive tool for exploration. The emphasis on drilling will now shift to
assessing the size and grade of the known mineralized zones to at least inferred resource status while
continuing to systematically drill shallow holes outwards along strike from these zones in an attempt
to located further ore shoots.

Dr Pollard has consented to the public release of his report. All data, as disclosed in this press
release, has been verified by the Company's Qualified Person for the Jelai project, Brett Dennis
Gunter. Mr Gunter, who acts as a technical consultant to the Company, is a geologist with over 10
years experience in epithermal gold systems and is a member of the AusIMM.

About Dr Peter Pollard

Dr Peter Pollard is a consulting economic geologist with more than 20 years experience. He holds a PhD
from James Cook University, Australia and is a Member of the Australasian Institute of Mining and
Metallurgy and a Fellow of the Society of Economic Geologists. Dr Pollard has wide experience on gold
and copper deposits including low sulphidation and high-sulphidation gold, copper and gold skarn,
porphyry copper-gold, and iron oxide copper-gold deposits. He has worked on gold deposits and run
related in-house training courses in many parts of the world. Dr Pollard's report can be viewed at
www.kalimantan.com.

About Kalimantan Gold

Kalimantan Gold Corporation Limited is a junior exploration company listed on both the TSX Venture
Exchange in Canada and on AIM. The company is focused on copper, gold and coal prospects in Indonesia
and has exploration rights in two areas: the Jelai epithermal gold prospects in East Kalimantan and
the copper 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
Email: rconnelly@ozemail.com.au

OR

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

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





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