ANK:CC - Angkor Resources Signs Joint Exploration and Development Agreement on its Andong Meas License

(TheNewswire)

GRANDE PRAIRIE, ALBERTA – TheNewswire - July 17, 2024 - ANGKOR RESOURCES CORP.(TSXV: ANK) (“ANGKOR”) announces that it has entered into a Joint Exploration andDevelopment Agreement (“JEDA”) with BSN Ratanak Sambath Co. Ltd.(“BSN”) to advance exploration to a feasibility study andapplication for gold and copper production permits on its Andong Measmineral license.

HIGHLIGHTS

• The Property under the JEDA, signed July 9, 2024includes the 118 square kilometre Andong Meas license and all mineralclaims on prospects of the license, located in RatanakiriProvince.

• ANGKOR will receive $250,000 as $50,000 USD for signingbonus plus 12 monthly payments starting in August 2024 of $16,667 USDto total $200,000 over 12 months.

• BSN shall contribute 100% of the costs of explorationincluding a monthly base fee of $15,138 for ANGKOR’s personnel,infrastructure, accommodation, vehicles, and logistics activitiesthrough exploration.

• BSN will earn an 80% interest in the license with itsactivities and expenditures through the exploration phase when theprospects have a bank feasibility study started.  ANGKOR shallmaintain a 20% carried interest to feasibility stage and has theoption to convert the interest to a five percent (5%) Net SmelterRoyalty (“NSR”) after the issuance of a mining production permit.

• ANGKOR and BSN shall be Co-Operators on the license andshall collaborate to combine best technical expertise, expediting workprograms, and pursuing feasibility studies towards production permits. The first priorities for the technical teams are the Canada Wall andSouth Creek area showing copper gold porphyry systems.

BSN is an associated partner company of the VietnamGroup LLC, well established in Cambodia with its head office in HanoiVietnam and mining operations in Laos. The Vietnam Group is amulti-faceted company with diverse holdings across SoutheastAsia.

“We are very pleased to be working with BSN toaccelerate the development on Andong Meas.  We anticipate IP work onthe porphyry systems and then drilling the Canada Wall and South Creekprospects on the license as soon as possible,” said DennisOuellette, VP Exploration of ANGKOR.”  He continues, “There aremultiple drill targets for both gold and copper and our continuedcollaboration with the indigenous communities has established stellarworking relationships and agreements for local labour and resources tocollectively explore the licence.“

BSN sent technical personnel to the property earlier aspart of due diligence and their team has returned to Banlungprovincial barracks this week to work with the ANGKOR geological team.

QUALIFIEDPERSON:

Dennis Ouellette, B.Sc., P.Geo., is amember of The Association of Professional Engineers and Geoscientistsof Alberta (APEGA #104257) and a Qualified Person as defined byNational Instrument 43-101 (“NI 43-101”). He is the Company’s VPExploration on site and has reviewed and approved the technicaldisclosure in this document.

ABOUT ANGKOR RESOURCESCORPORATION:

ANGKOR Resources Corp. is a publiccompany, listed on the TSX-Venture Exchange, and is a leading resourceoptimizer in Cambodia working towards mineral and energy solutionsacross Canada and Cambodia. ANGKOR’s carbon capture and gasconservation project in Saskatchewan, Canada is part of its long-termcommitment to Environmental and Social projects and cleaner energysolutions across expanding jurisdictions. The company holds three mineral explorationlicenses in Cambodia and its subsidiary, EnerCam Resources, wasgranted an onshore oil and gas license of 7300 square kilometers inthe southwest quadrant of Cambodia.

CONTACT: DelayneWeeks - CEO

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

Certain information set forth in thisnews release may contain forward-looking statements that involvesubstantial known and unknown risks and uncertainties. Theseforward-looking statements are subject to numerous risks anduncertainties, certain of which are beyond the control of the Company,including, but not limited to the potential for gold and/or otherminerals at any of the Company’s properties, the prospective natureof any claims comprising the Company’s property interests, the impact of generaleconomic conditions, industry conditions, dependence upon regulatoryapprovals, uncertainty of sample results, timing and resultso f future exploration, andthe availability of financing.  Readers are cautioned that theassumptions used in the preparation of such information, althoughconsidered reasonable at the time of preparation, may prove to beimprecise and, as such, undue reliance should not be placed onforward-looking statements.

Copyright (c) 2024 TheNewswire - All rights reserved.