ANK:CC - Angkor Resources Completes Agreement for $590000 USD on Oyadao North License Disposition

(TheNewswire)

GRANDE PRAIRIE, ALBERTA - TheNewswire - June 25, 2024 - ANGKOR RESOURCES CORP.(TSXV: ANK ) and ( OTCQB: ANKOF) (“ANGKOR ” or the “Company”) announces it has signed an agreement with Almighty Natural Resources Ltd.(“Almighty”)  of Dubai, UAE to transfer its 100% interest in theexploration Oyadao North license for $590,000 USD plus a 3% NetSmelter Royalty (“NSR”) on all minerals produced from the license(“the Agreement”).

Payments of $590,000 shall come to Angkor in threetranches over July, August, and September of 2024.

Angkor’s Chief Financial Officer Grant T. Smithcomments on the transaction, “This opportunity to optimize currentvalue from the Oyadao North license, while maintaining a 3% NSR isconsistent with the Company’s objectives. Cash is tight in today’smarket, and this move provides opportunity to advance other projectsby monetizing asset value, without diluting shareholdervalue.”

This agreement, signed on June 18 2024, replaces theprevious agreement of Nov. 3, 2023 whereby Almighty earned up to 80%of the two licenses in Ratanakiri, Oyadao North and Andong Meas.  The result of the new agreement places 100% ownership and interest ofthe Andong Meas license with Angkor and positions it as a priority forexploration.   There were no finder’s fees paid on the transaction.

The use of proceeds shall be used to:

• Expand oil and gas production in Canada;

• Finance exploration work on the Andong Measlicense.

Andong Meas hosts two copper gold porphyry targets andan epithermal gold target. This new agreement will provide the fundsneeded to source the expertise and the resources necessary tosignificantly advance this property.

Dennis Ouellette, VP of Exploration comments on thework plan strategy, “With the two copper gold porphyry systems onthe property and the increasing prices of both gold and copper, it isthe perfect time to be exploring these prospects. “

The Company also pursues environmental solutions forenergy in both Cambodia and Canada, including carbon credits forseveral projects in the jurisdictions.

ABOUT ANGKOR RESOURCESCORPORATION:

Angkor Resources Corp. is a publiccompany, listed on the TSX-Venture Exchange, and is a leading resourceoptimizer working towards mineral and energy solutions across Canadaand Cambodia. Angkor’s carbon capture and gas conservation projectin Saskatchewan, Canada is part of its long-term commitment toEnvironmental and Social projects and cleaner energy solutions acrossexpanding jurisdictions. Upon completion of the transaction described above,t he company will hold twomineral exploration licenses in Cambodia, Andong Meas license inRatanakiri Province and Andong Bor license straddling Oudar Meancheyand Banteay Meanchey Provinces.    Angkor’s subsidiary, EnerCamResources, was granted an onshore oil and gas license of 7300 squarekilometres in the southwest quadrant of Cambodia.

CONTACT: DelayneWeeks - CEO

Email: info@angkorresources.com Website: angkorresources.com

Telephone: +1 (780)831-8722

Please follow @AngkorResources on , , , Instagram and .

Neither TSX VentureExchange nor its Regulation Services Provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this release.

The information in this pressrelease contains certain forward-looking statements, including withinthe meaning of applicable securities laws. These statements relate tofuture events or our future intentions or performance. All statementsother than statements of historical fact may be forward-lookingstatements. Forward-looking statements are often, but not always,identified by the use of words such as “anticipate”,“continue”, “demonstrate”, “expect”, “may”, “can”,“will”, “believe”, “would” and similar expressions andinclude statements relating to, among other things, Angkor’sposition, strategy and development plans and the benefits to bederived therefrom; theCorporation’s anticipated annual production growth and annualcapital spending for the next three years; that the focus of theCorporation’s development activities during the remainder of 2023;expectations of when the transaction is completed; the anticipatedfocus of Angkor’s operations in 2024; the Corporation’santicipated 2024 average production; and the Corporation’sexpectations that it will continue to deliver clean, reliable,sustainable energy, contributing to a reduction in global emissions bydisplacing high-carbon fuels. Angkor’s actual decisions, activities,results, performance or achievement could differ materially from thoseexpressed in, or implied by, such forward-looking statements andaccordingly, no assurances can be given that any of the eventsanticipated by the forward-looking statements will transpire or occuror, if any of them do, what benefits that Angkor will derive fromthem.

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