VANCOUVER, British Columbia--(BUSINESS WIRE)--
Kalimantan Gold Corporation Limited (the "Company") is pleased to announce that the Indonesian Ministry of Forestry has granted PT Jelai Cahaya Minerals an extension to its Borrow and Use Exploration Forestry Permit (IPPKH) for its 100% owned Jelai Gold project in north eastern Kalimantan. The permit, which is renewable, extends the authorisation for the Company to conduct exploration activities until 16th December 2015. It covers all the existing permitted areas, namely the Mewet and 10 other of the 12 Jelai Gold prospects, comprising 4,675 hectares of the 5,000 hectare IUP.
The Directors are also pleased to announce that they have been in discussions with a number of major mineral companies regarding a potential joint venture or similar arrangement in respect of Jelai Gold. These discussions are continuing and some site visits have already been undertaken.
KSK Copper Project
The Directors are intending to issue an update on the KSK Copper Project shortly and remain confident on attracting a credible partner.
For further information please contact:
Deputy Chairman and CEO, Kalimantan Gold
Mobile: +61 (0) 423 206 324
Director Corporate Development
Telephone: +44 (0) 2077311806
Mobile: +44 (0) 7717473168
VSA Capital Limited
Andrew Raca / Justin McKeegan
Telephone: +44 20 3005 5004 / +44 20 3005 5009
KLG's Nominated Adviser
RFC Ambrian Limited
Telephone: +61 8 9480 2506
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 has two exploration projects in Kalimantan: the Jelai epithermal gold project in East Kalimantan and the KSK Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects. For further information please visit www.kalimantan.com
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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.
This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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