2014-04-16 08:02:32 -
White Rock, British Columbia (FSCwire) - Kalimantan Gold Corporation Limited (the “Company” or “KLG”) is pleased to announce that it has appointed Stephen Hughes as an independent non-executive director of the Company, to be effective April 15, 2014.
Stephen Gregory Hughes (aged 43), is a geologist with over 20 years technical and management experience in copper-gold exploration and open pit and underground mine geology. He is recognized in Indonesia as a leading expert on copper-gold systems, and has evaluated more than 30 copper-gold deposits across Indonesia and the Philippines. His experience includes 12 years with Freeport-McMoRan Copper & Gold, managing their regional exploration activities and underground mine geology group, and he was also involved in the Grasberg open pit mine
geology operations. He joined Oxiana Limited / OZ Minerals as Exploration Manager in 2007, focused on growing the company through exploration and acquisition of advanced copper-gold opportunities in Indonesia. Stephen is currently based in Jakarta Indonesia, as a key member of the Tigers Realm Group’s copper-gold management team, where he is responsible for identifying, acquiring and developing high quality mineral resource and energy assets. Mr Hughes is currently a director of PT Emas Mineral Murni, a private Indonesian mining and exploration company. He has not held any other directorships or partnership positions in the last 5 years.
“Steve’s significant credibility as an expert in the geological environment of the Company will make him an invaluable member of the board of directors at this critical time in the Company’s development” commented Mr. Faldi Ismail, CEO, KLG.
Mr. Hughes owns 188,000 shares of KLG.
There are no other matters in relation to Mr Hughes appointment that require disclosure under the AIM Rules for Companies, pursuant to Rule 17 and Schedule Two.
The Company also wishes to announce that Mr Peter Bojtos leaves the board effective April 15, 2014, having resigned as an independent non-executive director of KLG. The Company sincerely thanks Mr. Bojtos for his valued contributions to KLG and wish him well in the future.
For further information please contact:
Deputy Chairman and CEO, Kalimantan Gold
Mobile: +61 (0) 423 206 324
Director Corporate Development
Telephone: +44 (0) 2077311806
Mobile: +44 (0) 7717473168
VSA Capital Limited
Andrew Raca / Justin McKeegan
Telephone: +44 20 3005 5004 / +44 20 3005 5009
KLG's Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Trinity McIntyre
Telephone: +61 8 9480 2500
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 Jelai epithermal gold project in East Kalimantan and the KSK Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects. 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.
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Source: Kalimantan Gold Corporation Limited (TSX Venture:KLG, AIM:KLG) www.kalimantan.com
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