NEW GOLD MINING IN KALIMANTAN

JAKARTA: Vancouver, Canada-based mining company Kalimantan Gold Corp. Ltd. has teamed up with Australian firm Oxiana Ltd. to explore and develop the Kalimantan Surya Kencana (KSK) copper-gold site in Central Kalimantan.

Under the agreement, Oxiana will receive up to two thirds of all proceeds from the exploration contract after funding a US$37.5 million bankable feasibility study of the site within two years.

Kalimantan Gold owns 75 percent of the 941-square-kilometer site, which since its initial exploration in 1996 has already shown a total of 38 copper-gold prospects. Local firm PT Pancaran Cahaya Kahayan will hold the remaining stake.

Company Information:

KALIMANTAN GOLD CORPORATION LIMITED
Address:
UNIT 1 - 15782 MARINE DRIVE
WHITE ROCK
British Columbia
Canada, V4B 1E6
Phone: +1 (604) 536-2711
Fax: +1 (604) 536-2788
Website: http://www.kalimantan.com/
Type: Public

OXIANA LIMITED
Address:
9TH FLOOR, 31 QUEEN STREET
MELBOURNE
Victoria
Australia, 3000
Phone: +61 3 8623 2200
Fax: +61 3 8623 2222
Website: http://www.oxiana.com.au/
Type: Public