Kalimantan Acquires 100% Ownership of KSK Contract of Work

VANCOUVER, BRITISH COLUMBIA, October 10 / MARKET WIRE/ -- Kalimantan Gold Corporation Limited (TSX VENTURE: KLG)(AIM: KLG) has completed the acquisition of the remaining 25% interest in its KSK Contract of Work ("KSK COW") that it did not already hold. This follows the recent receipt of approvals from the Indonesian regulatory authorities for the transaction that was initially announced on October 16, 2007. Rahman Connelly, Deputy Chairman and CEO of Kalimantan Gold, commented, "Owning 100% of the KSK COW greatly simplifies what was a complex corporate structure of this valuable mineral asset. The structure acted as a barrier in attracting a major mining company to assist in moving this project forward. In anticipation of the PCK acquisition completing, a confidentiality agreement has been executed with a major mining company... [read full story]