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Kalimantan Gold Corporation Limited

For Immediate Release NR2008-3�������������������������������������������������������������������������������������� TSX Venture Exchange

February 5, 2008������������������������������������������������������������������������������������������������������������������������������������������� and AIM

Vancouver, British Columbia���������������������������������������������������������������������������������������������� Symbol: ?KLG?

Continued drilling at Jelai encounters near-surface significant intercepts of gold

Kalimantan Gold Corporation Limited announces further drill results from the ongoing drill program� at its 100%-owned Jelai epithermal gold property in East Kalimantan . 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:

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 visit www.kalimantan.com or contact:

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