Kalimantan Gold changes name to Asiamet Resources

By Romel S. Gurky

AIM and TSX- listed Kalimantan Gold Corporation Limited announced on Friday that further to its news release dated April 30, 2015, it has now changed its name to Asiamet Resources Limited.

The common shares of the company will commence trading at the open of market on Monday, July 27, 2015 under the symbol ARS on both the TSX Venture Exchange in Canada and AIM in England.

Tony Manini, Chief Executive Officer commented: "The change of name to Asiamet Resources Limited is an important milestone intended to better reflect the recent changes in strategic direction and management at the Company.

?Our key projects on the islands of Kalimantan and Sumatra in Indonesia are strategically located within the rapidly growing Asian economies that are the key drivers of global metals consumption growth.

?Copper is now our primary commodity focus and the development strategy is clear; Progress the medium scale BK copper project opportunity through studies and into development at the lowest possible capital and operating cost. Continue to add value by progressively de-risking the larger Beutong copper-gold growth option and, extract value from the Jelai gold project via sale or partnering initiatives,? he said.

The recent acquisition of the Beutong project from Tigers Realm Group and the subsequent management changes have provided the company with access to a highly credentialed project development team equipped with the requisite skills and experience to finance and drive its projects through studies into development and operations as envisaged, he said.

?We look forward to delivering into the strategy and building on the momentum we are beginning to establish at Asiamet Resources. A strong news flow is anticipated as the projects are advanced through the various stages of development and financing and we look forward to keeping all stakeholders informed of progress as the inherent value in our projects is progressively unlocked," he said.

Editing by Johannes Simbolon