The Cambodian Ministry of Mines has renewed the following exploration licenses held by Angkor Gold:
- Andong Meas (187 km2)
- Banlung (150 km2)
- Koan Nheak (189 km2)
- Oyadao (222 km2)
- Oyadao South (235 km2)
The five license renewals have been granted to Angkor for an initial 3 year term with the option to extend a further 4 years. The Company chose not to renew the Banlung North and Trapeang Kraham licenses as part of its policy to pursue only the areas showing the best mineral potential.
Of specific interest, as reported in a press release dated June 14, 2016 (http://www.angkorgold.ca/1810-2/), Angkor entered into a Joint Exploration Agreement with Japan Oil, Gas and Metals National Corporation (“JOGMEC”) to explore Angkor’s 100% owned Oyadao South license. The agreement gives JOGMEC the option to acquire 51% of the Oyadao South license for a total investment of US$3 million in exploration expenditures over a 3 year period. As reported (June 4, 2015 http://www.angkorgold.ca/angkor-discovers-a-third-mineralized-porphyry/ and Nov. 15, 2015 http://www.angkorgold.ca/work-resumes-at-okalla-west-and-halo-prospects-in-cambodia/), the 7.25 square kilometre Halo Prospect is a mineralized porphyry system discovered by aeromagnetics, termite mound geochemistry, detailed geological mapping, a clay alteration survey and a single reconnaissance IP line.
With the license renewal, work under this agreement will now commence, and the Company has invited tenders for IP work on the Halo Prospect.
Dr. Adrian G. Mann, P.Geol., a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”), has reviewed and approved the technical disclosure in this document. Matters pertaining to QA/QC relating to all geological, chemical and physical analysis have been dealt with in the referenced previous press releases.
ABOUT ANGKOR GOLD CORP.
ANGKOR Gold Corp. is a public company listed on the TSX-Venture Exchange and is Cambodia’s premier mineral explorer with a large land package and a first-mover advantage building strong relationships with all levels of government and stakeholders.
Website at: http://www.angkorgold.ca or follow us on Twitter @AngkorGold.
Neither 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.
Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
ANGKOR GOLD CORP.
Vice President of Corporate Development
Telephone: (647) 515-3734