Kalimantan Gold Options Granted

VANCOUVER, British Columbia--()--Kalimantan Gold Corporation Limited (the “Company”) announces that pursuant to the Company’s shareholder approved Stock Option Plan, the Company’s Board of Directors granted a total of 2,250,000 Incentive Stock Options (“Options”) to Directors and granted a total of 1,200,000 Options to employees and consultants for a total of 3,450,000 shares of the Company’s capital stock, that are exercisable between October 6, 2014, and October 6, 2019, at an exercise price of $0.05 per share, being the minimum price allowable under TSX Venture Exchange policies. The common shares issued upon exercise of options granted will be subject to any applicable regulatory hold periods.

The number of Options granted to the Directors subject to these arrangements and their resultant beneficial interests in the capital of the Company are as follows:

Director  

Number Options
granted October 6,
2014

 

Total Options
granted pursuant to
Plan

 

Number of common
shares held

Faldi Ismail 400,000 2,700,000 5,196,000 *
Peter Pollard 300,000 650,000 202,052
Doris Meyer 250,000 1,200,000 941,134
Raynard von Hahn 300,000 300,000 37,994
Stephen Hughes 1,000,000 1,000,000 -
  2,250,000 5,850,000 6,377,180

*This number was incorrectly reported as 5,206,000 in the Company’s October 3, 2014 news released on AIM.

ON BEHALF OF THE BOARD OF DIRECTORS

Faldi Ismail, Deputy Chairman and CEO

For further information please contact:

Faldi Ismail
Deputy Chairman and CEO, Kalimantan Gold
Mobile: +61 (0) 423 206 324
Email: faldi.ismail@kalimantan.com

Gerald Cheyne
Director Corporate Development
Telephone: +44 (0) 2077311806
Mobile: +44 (0) 7717473168
Email: gerald.cheyne@kalimantan.com

VSA Capital Limited
Andrew Raca / Justin McKeegan
Telephone: +44 20 3005 5004 / +44 20 3005 5009
Email: araca@vsacapital.com

Kalimantan Gold's Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Trinity McIntyre
Telephone: +61 8 9480 2500
Email: andrew.thomson@rfcambrian.com / trinity.mcintyre@rfcambrian.com

About Kalimantan Gold Corporation Limited

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, Indonesia: the Jelai epithermal gold project in East Kalimantan and the KSK Contract of Work in Central Kalimantan with potential for multiple porphyry copper and gold prospects. For further information please visit www.kalimantan.com

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.

Contacts

Kalimantan Gold
Faldi Ismail, +61 (0) 423 206 324
Deputy Chairman and CEO
faldi.ismail@kalimantan.com
or
Gerald Cheyne, +44 (0) 2077311806
Director Corporate Development
Mobile: +44 (0) 7717473168
gerald.cheyne@kalimantan.com
or
VSA Capital Limited
Andrew Raca, +44 20 3005 5004
araca@vsacapital.com
or
Justin McKeegan, +44 20 3005 5009
or
Kalimantan Gold's Nominated Adviser
RFC Ambrian Limited
Andrew Thomson, +61 8 9480 2500
andrew.thomson@rfcambrian.com
or
Trinity McIntyre
trinity.mcintyre@rfcambrian.com

Contacts

Kalimantan Gold
Faldi Ismail, +61 (0) 423 206 324
Deputy Chairman and CEO
faldi.ismail@kalimantan.com
or
Gerald Cheyne, +44 (0) 2077311806
Director Corporate Development
Mobile: +44 (0) 7717473168
gerald.cheyne@kalimantan.com
or
VSA Capital Limited
Andrew Raca, +44 20 3005 5004
araca@vsacapital.com
or
Justin McKeegan, +44 20 3005 5009
or
Kalimantan Gold's Nominated Adviser
RFC Ambrian Limited
Andrew Thomson, +61 8 9480 2500
andrew.thomson@rfcambrian.com
or
Trinity McIntyre
trinity.mcintyre@rfcambrian.com