(KLG.L) Kalimantan Gold Buy/Sell

FOR: KALIMANTAN GOLD CORPORATION LIMITED

TSX VENTURE, AIM SYMBOL: KLG

December 19, 2008

Kalimantan Gold Files Jelai Mewet Vein Technical Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2008) - Kalimantan Gold Corporation Limited (TSX VENTURE:KLG)(AIM:KLG) has filed the Technical Report supporting the initial resource statement announced on November 11, 2008 for only one of five main veins identified at the Company's 100%-owned Jelai gold project in East Kalimantan, Indonesia. The Mewet Vein resource block is based on 23 drill holes and is contained within a 250 metre section within a known vein structure of more than 2,000 metres in strike length with mineralization beginning on surface down to 225 metres below surface.

The Technical Report titled "PT Jelai Cahaya Minerals Resource Calculation for the Mewet Vein, Jelai Gold Project, Kabupaten Bulungan, East Kalimantan, Indonesia", dated December 12, 2008, was prepared by PT GMT Indonesia ("GMT"), Technical Advisors to the Jelai Gold Project.

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 gold, coal and copper prospects in Indonesia and has exploration rights in three areas: the Jelai epithermal gold prospect in East Kalimantan, five coal prospects, also in East Kalimantan and porphyry copper and gold prospects in Central Kalimantan.

RFC Corporate Finance Ltd acts as KLG's Nominated Adviser for the purposes of its AIM listing, contact Stuart Laing, ph: +618 9480 2506 or email: stuartl@rfc.com.au.

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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 Email: nick@nickcottam.com 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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Kalimantan Gold Corporation Limited

FOR: KALIMANTAN GOLD CORPORATION LIMITED

TSX VENTURE, AIM SYMBOL: KLG

December 1, 2008

Kalimantan's Third Quarter Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2008) - Attached are the Consolidated Balance Sheets, Consolidated Statements of Operations and Deficit, and Consolidated Statements of Cash Flows (unaudited - prepared by management) of Kalimantan Gold Corporation Limited (TSX VENTURE:KLG)(AIM:KLG) (the "Company") for the third quarter ended September 30, 2008. The Third Quarter Report is available for viewing on www.sedar.com or www.kalimantan.com.

RFC Corporate Finance Ltd acts as KLG's Nominated Adviser for the purposes of its AIM listing, contact Stuart Laing, ph: +618 9480 2506 or email: stuartl@rfc.com.au.

/T/

KALIMANTAN GOLD CORPORATION LIMITED

See Nature of Operations - Note 1

CONSOLIDATED INTERIM BALANCE SHEETS

(a development stage company) (In United States Dollars)

September December
As at 30, 2008 31, 2007

--------------------------------------------------------------------------
(unaudited)

ASSETS

Current assets
Cash and cash equivalents $ 601,499 $ 872,739
Prepaid items and advances 197,414 101,562

798,913 974,301
Security deposit - mineral property (note 4) 24,517 24,517
Deferred mineral property acquistion (note 4) 101,557 95,835
Equipment (note 5) 136,598 137,793

$ 1,061,585 $ 1,232,446

LIABILITIES

Current liabilities
Accounts payable and accrued liabilities $ 215,487 $ 188,504

Provision for employee service entitlements 21,057 41,276

236,544 229,780

SHAREHOLDERS' EQUITY

Share capital (note 6) 721,544 606,716
Contributed surplus (note 6) 17,956,787 16,042,841
Deficit (17,853,290) (15,646,891)

825,041 1,002,666

$ 1,061,585 $ 1,232,446

Nature of operations (note 1) Commitments (note 8) Subsequent events (note 10)

Approved by the Board of Directors

/s/ Murray Clapham /s/ Rahman Connelly
Murray Clapham Rahman Connelly

The accompanying notes form an integral part of these interim consolidated financial statements

KALIMANTAN GOLD CORPORATION LIMITED

See Nature of Operations - Note 1 INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS, COMPREHENSIVE LOSS AND

(a development stage company) (In United States Dollars)

three months ended nine months ended

--------------------------------------------------------------------------
September September September September
30, 2008 30, 2007 30, 2008 30, 2007

--------------------------------------------------------------------------
(unaudited) (unaudited) (unaudited) (unaudited)

EXPENSES

General and administrative Accounting and
audit $ 5,050 $ - $ 5,965 $ 5,466
Amortization 294 294 883 883
Consultants (note 7) 109,408 87,196 381,536 223,570

Directors fees
(note 7) 6,000 6,000 18,000 18,000
Investor relations 7,406 951 54,315 38,879
Legal 13,794 717 25,860 14,894

Office and administrative
services 3,387 2,801 13,663 7,269

Stock compensation
expense 130,225 6,603 137,517 357,571

Telephone and
facsimile 1,334 1,334 4,213 4,495

Transfer agent, filing and
exchange fees 18,743 24,820 91,153 52,886

Travel and
accommodation 29,255 26,908 58,923 70,831

324,896 157,624 792,028 794,744

Current exploration
(note 4) 607,031 179,769 1,361,824 432,700

Foreign exchange
loss (gain) 21,646 (74,331) 60,200 (159,581)
Interest income (1,342) (5,124) (7,653) (23,514)

Loss and
comprehensive loss (952,231) (257,938) (2,206,399) (1,044,349)

Deficit - beginning
of period (16,901,059) (14,906,146) (15,646,891) (14,119,735)

Deficit - end of
period $(17,853,290) $(15,164,084) $(17,853,290) $(15,164,084)

Loss per share -
basic and diluted $ (0.01) $ (0.00) $ (0.03) $ (0.02)

Weighted average number of shares
outstanding 75,004,030 60,181,353 68,323,487 58,709,872

The accompanying notes form an integral part of these interim consolidated financial statements

KALIMANTAN GOLD CORPORATION LIMITED

See Nature of Operations - Note 1

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

(a development stage company) (In United States Dollars)

three months ended nine months ended

----------------------------------------------- -------------------------
September September September September
30, 2008 30, 2007 30, 2008 30, 2007

--------------------------------------------------------------------------
(unaudited) (unaudited) (unaudited) (unaudited)

Cash provided from (used for)

Operating activities
Loss for the period $ (952,231) $ (257,938) $ (2,206,399) $(1,044,349)

Add charges to operations not involving a current payment of cash:
Amortization 13,872 11,121 41,051 22,800

Stock compensation
expense 130,225 6,603 137,517 357,571

Unrealized foreign
exchange loss (gain) 21,627 - 60,201 -

Changes in non-working capital items: Prepaid items and
advances (50,229) 15,758 (95,852) (11,998)

Accounts payable and
accrued liabilities 51,320 304,311 26,983 68,420

Provision for employee
service entitlements (11,075) - (20,219) -

(796,491) 79,855 (2,056,718) (607,556)

Investing activities Deferred acquisition
of mineral property 194 - (5,722) -
Security deposits - - - (10,000)
Equipment (1,636) (27,485) (39,856) (94,034)

(1,442) (27,485) (45,578) (104,034)

Financing activities
Share issues 50,960 637,162 1,891,257 637,162

50,960 637,162 1,891,257 637,162

Unrealized foreign exchange loss (gain) on cash and cash
equivalents (21,627) - (60,201) -

Net change in cash and
cash equivalents (768,600) 689,532 (271,240) (74,428)

Cash and cash equivalents,
beginning of period 1,370,099 970,984 872,739 1,734,944

Cash and cash equivalents, end of
period $ 601,499 $ 1,660,516 $ 601,499 $ 1,660,516

The accompanying notes form an integral part of these interim consolidated financial statements

/T/

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FOR FURTHER INFORMATION PLEASE CONTACT:

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

KALIMANTAN GOLD CORPORATION LIMITED

TSX VENTURE, AIM SYMBOL: KLG

November 17, 2008

Kalimantan Gold Signs Option on Coal Opportunity

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2008) - Kalimantan Gold Corporation Limited (TSX VENTURE:KLG)(AIM:KLG) has signed an Option Agreement with PT Indobara Pratama ("IBP") to bring the coal deposit on IBP's 100%-owned coal KP (the "Concession") into production and acquire up to an 80% interest in IBP. The project is permitted for production and the potential to be an open cut coal deposit. The work done on the Concession to date indicates a potential deposit of between 55-60 million tonnes of approximately 5,400 kcal/kg coal. The coal occurrences in the concession area are ranked sub-bituminous thermal coal which are becoming increasingly sought after as a reliable new supply of low ash and low sulphur coal to the new generation of power stations currently being constructed in many parts of Asia, including Indonesia. The Concession located in East Kalimantan, Indonesia is 130 kilometres northwest of Samarinda and is accessible by road and river (to view the figures and pictures accompanying this press release, please click on the following link: http://media3.marketwire.com/docs/klg_figure.pdf).

The potential quantity and grade is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Kalimantan Gold CEO Rahman Connelly comments: "After reviewing the project we believe it meets our criteria for a viable near production coal deposit. We have had early discussions with potential buyers of the off-take and it is hoped that during the due diligence period these buyers will become a source of either equity or debt capital to fund Kalimantan Gold's entry into coal production. We will also consult with Macquarie Bank, who have expressed interest in financing a coal production project with us, as part of our evaluation of the IBP Concession as a production opportunity."

The Concession has substantial exploration potential and that according to the current owners the coal deposit is permitted and ready to place into production. Transportation to the nearest coal terminal by river is reasonable and the acquisition of IBP will include a barge and conveyor loading system. Only 2,700 hectares of the total 4,993 hectare Concession has been explored.

The Company does not have a study to determine if the project is economic and there is no certainty the project will be found to be economic.

The Option Agreement

Kalimantan Gold has an exclusive 90 day option to undertake due diligence on IBP and we will fund and undertake a 3,000 metre drilling program during the option period at an estimated cost of $150,000. On its completion, the Company may provide notice it wishes to proceed to acquire shares of IBP based on the value of $1 per tonne of Proven Recoverable Coal Reserves ("PRCR") estimated in accordance with JORC (the "Purchase Price"). A Share Purchase Agreement ("SPA") will be executed and payment of the Purchase Price will be made in four stages as follows: 5% payable by February 15, 2009; 15% payable by March 15, 2009; 40% payable by July 15, 2009 and the final payment of 40% payable on the December 15, 2009 or the date of the first commercial shipment of coal from IBP's mine if this is earlier. Upon the third payment being made, 48% of the shares of IBP will be transferred to the Company with another 32% of the IBP shares transferred when the fourth and final payment is made. All IBP costs from the time the SPA is executed until the first shipment of coal shall be borne 80% by the Company and 20% by the selling shareholders of IBP.

Technical Discussion

The coal occurrences within the concession area occur within Balikpapan Formation rocks, a well-known coal-bearing formation in East Kalimantan. Exploration to date has outlined two main seams with thicknesses between 5-7 metres and 13-20 metres respectively. This data was obtained from 63 surface exposures and 20 drill holes that have been completed in the concession area to a depth of 80-100 metres. The seams can be described as low sulphur (less than 0.20%) and low ash (less than 5%) with an average calorific value reported from the vendor documents as approximately 5,400 kcal/kg (air dried basis) based on sampling from drill cores and outcrops. The seams strike north-south and dip between 5- 15 degrees to the east.

The property has been subject to a detailed review and geological modelling but the results require validation before being classified into a reportable category and due diligence, currently being planned for the property, will aim to verify the conclusions made within various studies available on the coal occurrences in the area. The concession is located approximately 20 kilometres from a river suitable for barging operations and the operational scenario suggests a road haulage-barging operation via the Mahakam River to a loading point at the mouth of the Samarinda Delta.

All data, as disclosed in this press release, has been verified by Brett Dennis Gunter, the Company's Qualified Person for the coal prospects and a principal of PT GMT. Mr Gunter, who acts as a technical consultant to the Company, is a geologist with over 18 years experience in exploration and mining and has more than 12 years experience in Indonesia in various commodities, including coal. He is a member of the AusIMM.

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 active on gold, coal and copper prospects in Indonesia and has exploration rights in three areas: the Jelai epithermal gold prospect in East Kalimantan, five coal prospects, also in East Kalimantan and porphyry copper and gold prospects in Central Kalimantan.

RFC Corporate Finance Ltd acts as KLG's Nominated Adviser for the purposes of its AIM listing, contact Stuart Laing, ph: +618 9480 2506 or email: stuartl@rfc.com.au.

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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 Email:nick@nickcottam.com Website: www.kalimantan.com

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

Kalimantan Gold Corporation Limited

FOR: KALIMANTAN GOLD CORPORATION LIMITED

TSX VENTURE, AIM SYMBOL: KLG

November 11, 2008

Kalimantan Gold Corporation Limited: Initial Resource Statement for the Mewet Vein at the Jelai Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 11, 2008) - Kalimantan Gold Corporation Limited (TSX VENTURE:KLG)(AIM:KLG) is pleased to announce the initial resource statement for only one of five main veins identified at the Company's 100%-owned Jelai gold project in East Kalimantan, Indonesia. The Mewet Vein resource block is based on 23 drill holes and is contained within a 250 metre section within a known vein structure of more than 2,000 metres in strike length with mineralisation beginning on surface down to 225 metres below surface.

The Indicated Resource, at a cutoff grade of 1.0 g/t gold is 256,000 tonnes @ 3.44 g/t gold and 3.2 g/t silver, contains an estimated 28,000 ounces of gold and 26,000 ounces of silver. The Inferred Resource, at the same cutoff grade is 690,000 tonnes @ 2.81 g/t gold and 3.7 g/t silver, contains an estimated 62,000 ounces gold and 82,000 ounces silver.

Rahman Connelly, CEO of Kalimantan Gold, stated, "The Mewet Vein resource model is an important milestone, as it starts to quantify our view that Jelai has potential for yielding a significant gold resource. The emphasis will now be towards growing the resource in quantity and quality. The geological model generated will greatly assist us in drill targeting in the Mewet Vein area, where extensions of the higher grade areas have not been closed off, particularly down plunge to the north."

Since mid-August, additional infill drilling in the Mewet Vein area has provided enough confidence in the data to complete this first resource model of the vein structure outlined. This includes data derived from the recent Kalimantan Gold drilling and the previous exploration conducted by Ivanhoe Mines Ltd.

To view the map accompanying this press release, please click on the following link: http://media3.marketwire.com/docs/klg1111.pdf

Technical Discussion

The Mewet Vein resource block area is contained within a 250 metre section of strike length within a known vein structure of more than 2,000 metres in strike length. The vein is a typical low sulphidation epithermal vein, striking generally north-south and dipping at 60 degrees to the west. The vein is hosted within a sequence of andesite volcanics, with argillic alteration and silicification defining the main mineralised zone. Higher grades of precious metal mineralisation are associated with colloform banded quartz veins within broader halos of mineralised hydrothermal breccia. The Mewet Vein is part of a larger suite of epithermal veins in the area, some of which are currently being drill tested by 4 diamond core drill rigs operating at the project. Other veins currently being evaluated include the Sembawang, Lipan and Nyabi Veins.

The resource statement has been compiled by PT GMT Indonesia and the geology was modelled for a single section of the Mewet Vein over a strike distance of 250 metres where drill spacing is between 25-50 metres apart both along strike and down dip. For modelling, the analytical data was composited with a cut-off of 1.0 g/t Au with 2 metres of internal dilution accepted. An upper cut of 20 g/t Au was applied to the data set prior to modelling. No upper cut for Ag was applied.

The model was based on a block size of 1x4x4 (east x north x dip) metres and an orientation of north- south and a dip of -60 degrees from the horizontal to mimic the trend of the Mewet Vein structure. The model was constrained by the upper and lower surfaces of the interpreted vein structure and by modelled topography, modified by alluvial cover in some areas. Sections were extended 25 metres past the data limits along strike and 20 metres down dip from the last drill hole data point. The data was modelled by ordinary kriging using a search ellipse plunging -80 degrees to 345, as indicated by variogram modelling. A major search range of 60 metres was applied, with anisotropy defined by 0.75/0.50 for the semi-major and minor axis. The resource categorisation considers the following limitations: