Angkor Resources Signs Letter of Intent to Sell Evesham Oil Production

(TheNewswire)

GRANDE PRAIRIE, ALBERTA – TheNewswire - December 15, 2025 - ANGKOR RESOURCES CORP.(TSXV: ANK) (“ANGKOR” OR “THE COMPANY”) is pleased to announce that it hasentered into a binding Letter of Intent ("LOI") with anarm's length party (the "Purchaser") to sell its 40%participating interest in the Evesham Macklin oil and gas lands (the"Assets") in Saskatchewan at a sale price of $4,800,000. Thesale of the Assets is anticipated to be completed on January 31, 2026(the "Closing Date").

The Assets were acquired by the Company through itswholly owned-subsidiary EnerCam Exploration Ltd. on December 12, 2023and the Purchaser provided a loan (the "Loan") to fund theacquisition. The outstanding amount of the Loan is $3,800,000.

CEO Delayne Weeks comments on thedecision to sell the Assets, “This decision follows a full analysisover the greatest value increases for shareholders in the coming 24months.  In our view, the greatest growth value of Angkor will beachieved on proving Cambodia’s first oil and gas discovery and thesecond will be on advancing assays and drilling on both gold andcopper projects, either by ourselves or with strong partners.  Evesham is a great project, but it is a long-term multi-well fieldwhich requires more investment capital for water injection and ongoingcapital upgrades.  Therefore, we will take the net sale proceeds fromthe sale of the Assets and apply the funds directly to packaging theoil and mineral projects in Cambodia for a sale or merger opportunityand other administrative operations. “

Transaction Summary

The terms of the LOI provide that the purchase priceshall be satisfied by the Purchaser under the following payment terms:(a) a $250,000 non-refundable deposit is payable on December 31, 2025after expiry of the Purchaser's due diligence condition; (b) apayment of $375,000 is payable on the Closing Date; (c) the balance ofthe Loan will be applied to the purchase price on the Closing Date;and (d) a final payment of $375,000 subject to adjustment is payableon March 1, 2026. The terms of the LOI also provided that all profitentitlements and operating and capital commitments under the Assetsafter October 1, 2025 shall accrue to the Purchaser.

Conditions to Closing

The parties intend to enter into a form of assetpurchase and sale agreement which shall replace the LOI and shallcontain customary commercial terms and closing conditions such asapproval of the sale and transfer by the operator of the Assets,appropriate representations, warranties and indemnities of theparties, receipt of all applicable regulatory and shareholderapprovals and approval of the stock exchange.

No finder’s fees were paid on the transaction.

Weeks continues, "The saletransaction will be achieved without any dilution of our stock and nocommissions are payable;  we can use the net sale proceeds where wemost need them.   We are also blessed to have developed strongrelations with exemplary oil operators and developers at Evesham, whoremain great advisers and colleagues on oil and gas opportunities.”

The Company is completing theinterpretation of the seismic program over four subbasins on BlockVIII, Cambodia’s first onshore oil and gas license underexploration.   Multiple targets have been identified.  Geoscientists indicate the end of December to have a completedinterpretation of the results with drill targets.

Weeks adds, “The processing of theseismic produced results beyond our expectations.  We have alreadyconcluded that instead of a single target, we have 3-5 drill targetsand proving commercial hydrocarbons on any of those areas will addgreater value to the Company.   As well, the recent announcement ofthe gold prospect CZ Gold, ANGKOR RESOURCES IDENTIFIES GOLDPROSPECT ON ANDONG MEAS LICENSE, CAMBODIA - Angkor ResourcesCorp leads us to focus all our resources inCambodia to formulate a robust, attractive platform with significantupside that mitigates risk for investors with diversity inCambodia’s first oil and gas discovery and is backed up with goldand copper prospects across several mineral licenses.

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.

The Company’s mineral subsidiary,Angkor Gold Corp. in Cambodia holds two mineral exploration licensesin Cambodia with multiple prospects in copper and gold.  Bothlicenses are in their first two-year renewal term.

Its Cambodian energy subsidiary, EnerCamResources, was granted an onshore oil and gas license of 7300 squarekilometres in the southwest quadrant of Cambodia called Block VIII.  The company then removed all parks and protected areas and added 220square kilometres, making the license area just over 4095 squarekilometres.  EnerCam is actively advancing oil and gas explorationactivities onshore to meet its mission to prove Cambodia as an oil andgas producing Nation.

Since 2022, Angkor’s Canadiansubsidiary, EnerCam Exploration Ltd., has been involved in oil and gasproduction in Saskatchewan, Canada with measures of gas capture toreduce emissions with carbon capture activities.  Those activitieswere a long-term commitment to Environmental and Social projects andcleaner energy solutions across jurisdictions.

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.

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Certain information set forth in thisnews release may contain forward-looking statements that involvesubstantial known and unknown risks and uncertainties which are beyondthe Company's control, including without limitation, anticipatedclosing of the transaction, satisfaction of conditions, regulatory andshareholder approvals and expected payments, the potential for goldand/or other minerals at any of the Company’s properties, theprospective nature of any claims comprising the Company’s property interests, the impactof general economic conditions, industry conditions, dependence uponregulatory approvals, uncertainty of sample results, timing andresults o f futureexploration, and the 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.

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