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					KALIMANTAN GOLD CORPORATION LIMITED
Canadian Office:                                          Indonesian Office:
Suite 405 – 555 Sixth Street                              Jl Teuku Umar 32A
New Westminster, BC V3L 5H1                               Palangka Raya, Kalimantan, Tengah
Canada                                                    73112 Indonesia

For Immediate Release NR04-01                                     TSX Venture Exchange
February 11, 2004                                                 Symbol: “KLG”
Vancouver, British Columbia



                                 KALIMANTAN GOLD’S BAROI
                    PRODUCES SOME HIGH-GRADE DRILL RESULTS


Kalimantan Gold Corporation Limited (“KGC”) has successfully completed a shallow scout
diamond drilling program of 22 holes and has now commenced drilling 6 holes to depths of 300
meters at the Baroi Far East Zone (“FEZ”). The objective of this follow up program is to test the
Baroi copper silver gold porphyry system and potential for a structurally hosted massive sulphide
deposit. Evidence of this potential was encountered in the mineralization of hole BF-5, which
while it was drilled down dip; it produced a total mineralized intersection of 83 metres:


                                                 Copper   Lead    Zinc   Silver   Gold
                                                  “Cu”    “Pb”    “Zn”   “Ag”     “Au”
               Hole      From     To      M        %       %       %      g/t *    g/t
            BF5           2.45   85.45   83.00     2.6%   0.6%    1.9%    61.1    0.22
            Including
            upper
            base
            metal
            rich vein     2.45   31.45   29.00     3.2%   1.8%    4.2%    97.1    0.57
            Including
            lower
            copper-
            rich vein    40.45   64.45   24.00     5.1%   0.04%   1.2%    88.5    0.02


        *g/t = grams per tonne

Rahman Connelly, CEO commented, “Whilst only 12 scout holes were planned we did 10
additional ones as a result of the encouraging geology and mineralization found in the early holes.
In addition Airborne Magnetic and other aerial data has been re-evaluated, SWIR spectral and
PIMA analysis has been undertaken and samples analysed to determine background geochemical
values. All this information was reviewed on site in late January by an internationally recognized
copper gold porphyry expert, Mr. Terry Leach, with the objective of precisely defining targets for
the six 300 meter holes.” Mr Leach’s detailed report will be available on the KGC web site in the
near future.
News Release NR04-1 February 11, 2004
Kalimantan Gold Corporation Limited – KLG – TSX.V                                                Page 2




Discussion of Scout Drill Program
The exploratory diamond drill holes were drilled in NQ and BQ drill core size, to a maximum
depth of 85 meters and were all inclined at 60°. These holes have been drilled over an area of 900
meters east-west and 1800 meters north-south to test a variety of geological targets in what is
otherwise difficult-to-sample terrain. These targets include:
         a) Diatreme breccia – holes BF -1, BF-22
         b) Gossanous silica zones – BF -4, -6, -7, -8, -10 & -11
         c) High grade vein outcrops – BF -2, -3, -5, -9, -18, -19, -20
         d) Silica sand area – BF -12, -13
         e) Dacite porphyry and advanced argillic alteration – BF -14, BF-21
         f) South-east area near contact with granodiorite pluton – BF -15, BF -16
         g) Intense phyllic alteration to the south-west: BF -17
The Company is most encouraged with the results and findings of this exploratory drill program.
As the program was intended as a geological exercise, only drill core displaying significant
mineralization was selected for geochemical analysis. A detailed list of all drill holes showing
locations is attached at the end of this release.
High grade copper zinc, lead, silver and gold were intersected in a number of holes. The drill hole
BF-5 mineralization is hosted in veins that occur within a 200 meters wide south-east trending
zone that extends 4-5 kilometres north west to the Central Zone. This massive mineralization is
interpreted to be the result of mineral rich fluids migrating from a shallow porphyry intrusion
through zones of strong structural dilation at the FEZ.
Other significant intercepts from the holes assayed in this shallow hole drilling program are as
follows.
                                                             Cu     Pb     Zn       Ag    Au
                 Hole         From         To       Metres   %      %      %       g/t    g/t
              BF-1                1.80   14.00       12.20   0.06   0.08   0.14    3.25    .01
              BF-2                4.30   22.30       18.00   0.38   0.02   0.12     8.5   0.04
              BF-3               42.00   43.00        1.00   0.57   0.25   1.90    29.0   0.26
              BF4                52.75   76.75       24.00   1.53   0.25   2.27    28.6   0.13
              BF5                 2.45   85.45       83.00   2.64   0.62   1.85.   61.1   0.22
              Including           2.45   31.45       29.00   3.18   1.71    4.21   97.1   0.57
                                 40.45   64.45       24.00   5.08   0.04   1.24    88.5   0.02
              BF-6               11.20   23.20       12.00   0.33   0.04   0.06    60.5   0.10
              BF-7               64.20   70.20        6.00   1.25   0.93   1.96    40.5   0.03
              BF-8A              47.00   53.00        6.00   0.79   0.02   0.13     15    0.02
              BF-8B              19.00   35.00       16.00   0.55   0.05   0.09    20.5   0.02
              BF-9                6.80   36.80       30.00   2.18   0.07   0.37    53.7   0.05
              BF-10               4.30     7.30       3.00   0.42   5.04   0.14    99.0   0.17
              BF-10              51.30   54.30        3.00   2.38   0.02   0.17    50.0   0.11
              BF-11              54.80   57.80        3.00   4.15   4.66   5.10    208    0.05
News Release NR04-1 February 11, 2004
Kalimantan Gold Corporation Limited – KLG – TSX.V                                                  Page 3


              BF-11              69.80   72.80       3.00     3.45     0.21   0.69   69.0   0.05
              BF-12              31.50   79.50      48.00     0.46     0.61   1.32   22.7   0.13
              Including          31.50   43.50      12.00     0.81     1.32   2.82   44.5   0.16
              BF-13              14.00   36.00      22.00     0.23     0.01   0.03    4.7   0.08
              BF-13              36.00   81.00      19.00     0.01     0.04   0.48    1.8   0.01
              BF-14                                  No significant results
              BF-15              11.00   18.00       7.00     0.20     0.09   0.54    5.6   0.02
              BF-15              47.00   75.00      18.00     0.03     0.10   0.40    2.8   0.01



At the time of writing assay results for drill holes BF-17 through BF-22 are pending.

Diatreme-like breccias were intersected in drill holes BF-14, BF-21 and to a lesser extent BF-8 in
the southern part of the project area. The presence of porphyry intrusion, silicified and sulphide
clasts in these breccias, increases the potential for an economic porphyry system in the south and
west part of the FEZ. This is supported by the intersection of extensive phyllic alteration in BF-
17, and moderate phyllic alteration in bottom hole BF-12, -13 and BF-14.

Drill hole BF-22 also intercepted a clay supported matrix diatreme breccia, with clasts of
mineralized porphyry, silisified rocks and quartz veins containing chalcopyrite, in the northern
part of the project area. The hole was terminated at 45 meters, as the small drill rig was not
capable of penetrating further into the diatreme. This hole has provided further strong evidence of
an underlying mineralized copper gold porphyry system at the FEZ.

A conceptual model incorporating surface geology and data, plus the results from the scout
drilling program has been developed for the Baroi Far East Zone.

This model suggests that the high grade quartz sulphide veins occur as dilational jogs within the
major SE structural zone. These exceptionally dilated zones are most likely the result of a mineral
rich porphyry intrusion at depth in the southwest portion of the FEZ, where intense phyllic
alteration has been identified in drill hole BF 17. The presence of a diatreme breccia and
advanced argillic alteration in drill hole BF 14 and BF21 also supports this model.

Additional work undertaken

In addition to drilling, KGC has conducted several other exploration activities during the past 3
months, which have provided information vectors on the FEZ prospect. These include:

•   The collection and analysis of 425 rock and drill core samples using SWIR spectral analysis
    or PIMA.

•   The systematic collection and analysis of 65 host rock or non vein channels samples is an
    attempt to determine background geochemical valves at the prospects.

•   The re-evaluation and interpretation of Airborne Magnetic data over the entire Contract of
    Work, with specific attention to the Baroi prospect.

•   The interpretation of aerial photographs Landsat ETM and radarsat imagery over the entire
    CoW, with specific attention to the Baroi prospect.
News Release NR04-1 February 11, 2004
Kalimantan Gold Corporation Limited – KLG – TSX.V                                            Page 4



As a result of this work, KGC has commenced exploration activities in an area 5 kilometers south
east and down strike from the FEZ, where porphyry signatures have been identified.

Objectives of 300 meter hole program

The ongoing drilling program will utilize the Company’s man portable RB34 drill rig capable of
depths to 300 meters. This program is designed to test:

•   The potential for a high grade low tonnage massive sulphide orebody in a similar setting, and
    possibly a deeper extension, to that intersected by BF -5.

•   The potential for a mineralized porphyry at shallow levels in the south-west part of the FEZ.

•   The source of copper mineralization associated with quartz veins in the northern diatreme
    breccia.

The Government of Indonesia through the Governor of Central Kalimantan has granted KGC a
5,000 hectare expansion to the KSK Contract of Work bringing the size to 129,300 hectares.
KGC has also received written assurance from the Governor of Central Kalimantan that the
government will fully support the Company rights under the KSK CoW to explore and mine
within a protected forest area. KGC holds a 75% interest in the KSK CoW.

Presently a team of 35 men is on site at the FEZ and a camp expansion is underway to
accommodate up to 100 personnel.

KGC has established quality assurance procedures for sampling and assays. This includes
duplicate and re-assay checks of samples with PT Intertek Utama Services, Jakarta, an
internationally recognized Lab other than that normally used, PT Indoassay Laboratories,
Balikpapan. All data disclosed, including sampling, analytical and test data in this press release
have been verified by the Company’s Qualified Person, Mr. Didik Prasetyo, senior project
geologist. A detailed list and map of all drill hole locations drilled to date is attached.

For further information call: Doris Meyer, Corporate Secretary

     Phone: (604) 516-0566 Fax: (604) 516-0568 Email: info@kalimantan.com Or visit the
                        Company’s website at : www.kalimantan.com


The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this
release.
News Release NR04-1 February 12, 2004
Kalimantan Gold Corporation Limited – KLG – TSX.V                           Page 5




Hole          Grid_X       GRID_Y        Z      Bearing   Incline   Depth

BF-1A          51440        34666       520         90     -60      24.55
BF-1B          51440        34666       520         270    -60      45.50
BF-2           51211        34380       555         10     -60      69.40
BF-3           51211        34380       555         190    -60      48.85
BF-4           51135        34393       545         200    -60      76.75
BF-5           51346        34140       615         210    -60      85.45
BF-6           51233        34087       615         210    -60      76.75
BF-7           51233        34087       665         30     -60      70.20
BF-8A          51267        33856       710         10     -60      73.00
BF-8B          51267        33856       710         50     -60      73.30
BF-9           51517        33798       635         70     -60      77.00
BF-10          51577        33642       650         50     -60      74.40
BF-11          51562        33539       665         20     -60      81.00
BF-12          51106        33555       685         20     -60      79.50
BF-13          51106        33555       685         200    -60      81.00
BF-14          51002        33448       690         20     -60      80.40
BF-15          51292        33169       640         20     -60      79.75
BF-16          51233        32947       660         20     -60      74.40
BF-17          50735        33345       690         50     -60      81.80
BF-18          51129        33755       700         50     -60      84.50
BF-19          51033        33913       640         20     -60      81.40
BF-20          50972        34096       590         210    -60      80.55
BF-21          50998        33439       690         200    -60      85.30
BF-22          51307        34552       530         20     -60      45.40

				
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