Asiamet Resources Limited Regulatory News (ARS)

14 Nov 2012 07:00

Kalimantan's CEO increases share position

Kalimantan Gold Corporation Limited (the "Company") wishes to advise that Faldi Ismail, the Deputy Chairman and Chief Executive Officer and a director of the Company has bought 150,000 shares of the Company through the on the AIM market at a price of £0.035 per share. Following this purchase, Mr Ismail now holds a total of 5,016,000 shares (2.3% of issued and outstanding) and 1,800,000 stock options in the Company.

-Ends-

For further information please contact:

Faldi IsmailDeputy Chairman and CEO, Kalimantan GoldMobile: +61 (0) 423 206 324Email: faldi.ismail@kalimantan.com

Gerald CheyneCorporate Development (UK)Telephone: +44 (0) 2077311806Mobile: +44 (0) 7717473168Email: gerald.cheyne@kalimantan.com

VSA Capital LimitedNick Redfern/ Peter DamouniTelephone: +44 20 3005 5005/ +44 20 3005 5007Email: pdamouni@vsacapital.com

KLG's Nominated AdviserRFC Ambrian LimitedStuart LaingTelephone: +61 8 9480 2506Email: stuart.laing@rfcambrian.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 in London. The Company has two exploration projects in Kalimantan: the KSK Contract of Work in Central Kalimantan with potential for multiple porphyry copper and gold prospects and the Jelai epithermal gold project in East Kalimantan. 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.

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.

Copyright Business Wire 2012