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GRANDE PRAIRIE, ALBERTA TheNewswire - April 28, 2026 - Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) ("ANGKOR"). Angkor announces its energy subsidiary, EnerCam Exploration Ltd. ("EnerCam") has entered into an Amended and Re-Stated Joint Strategic Alliance Agreement (the "Agreement") with 358140 Alberta Ltd. ("358") to increase Angkor's ownership interest from 20% to 75% in the Block VIII oil and gas concession in Cambodia.
The fundamental terms of the Agreement provide that Angkor's interest in the 4,095 square kilometre Block VIII concession will increase from 20% to 75% by assuming the responsibility of funding the drilling program and making a payment of USD2 million to 358 by no later than June 30, 2026. The Agreement also provides Angkor with the option to make the USD2 million payment by issuing common shares to 358, with the issuance price of the shares to be the 30 days' volume-weighted average trading price prior to the payment date, subject to approval of the TSX. On completion of the drilling program, the Block VIII interests will convert to a working interest and 358 will be obligated to contribute its 25% of development costs after all drilling has been completed.
"This is a positive deal for both companies but especially benefits EnerCam / Angkor and its shareholders by increasing our interest substantially to 75%", says Mike Weeks, President of EnerCam. "With funding from 358 at the very early high-risk stages, 358 took on the greatest risk to our benefit; 358 made it possible for EnerCam/Angkor to advance the license, and now we have drill targets and hold a 75% interest as we move towards drilling. 358 keeps its involvement with a working interest and we jave the option to convert 358's ownership investment into shares of Angkor.
With 358's financial contributions to date exceeding CAD 3.6 million, EnerCam was able to undertake
and complete:
1) final licensing costs to initiate exploration,
2) an Initial Environmental Impact Assessment,
3) the addition and permitting of an additional 220 square kilometres in the northeast segment
of the original license as part of Block VIII,
4) a 350 kilometer 2-D seismic assessment of the concession, and
5) the determination of four drill targets on subbasins within Block VIII (Angkor Resources' SUBSIDIARY IDENTIFIES DRILL TARGETS ON BLOCK VIII OIL & GAS, CAMBODIA - Angkor Resources Corp).
The Block VIII concession is held in Angkor's Cambodian subsidiary EnerCam Resources Co. Ltd. and is administered by Angkor's wholly owned EnerCam Exploration Ltd. of Canada.
The terms of the Agreement are subject to approval of the TSX Venture Exchange.
ABOUT Angkor Resources CORP.
Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource explorer and developer in Cambodia working towards mineral and energy solutions across Cambodia.
Angkor's Cambodian energy subsidiary, EnerCam Resources Co., Ltd., was granted an onshore oil and gas license in the southwest quadrant of Cambodia called Block VIII. The original 7,300 km² license was reduced to approximately 4,300 km² upon voluntary removal of parks and protected areas, subsequently adjusted through government remapping directed by the Ministry of Mines and Energy, and then expanded by 220 km² with the addition of the Kirirom Basin in the northeast, resulting in the current area of approximately 4,095 km².
EnerCam is actively advancing oil and gas exploration activities onshore to meet its mission to prove Cambodia as a nation with its own oil and gas resources. The Company completed 2D-seismic in 2025 and has identified multiple drill targets with multiple target zones. As it now works to complete an additional Environmental Impact Assessment on the drilling target areas, the Company plans to follow with drilling Cambodia's first privately financed onshore exploratory oil and gas wells under a Production Sharing Contract.
The company's mineral subsidiary, Angkor Gold Corp. Co., Ltd. held three mineral exploration licenses during 2024 and 2025 and disposed of its Oyadao North license in mid 2025. The company continued to disclose that it held three licenses, although only two were active, until the Company had confirmation from the Ministry of Mines that the transfer of Oyadao North license was 100% complete, which was verified by the end of October, 2025. The mineral subsidiary currently holds two mineral exploration licenses in Cambodia with multiple prospects in copper and gold. Both licenses are in their first two-year renewal term.
CONTACT: Delayne Weeks - CEO
Email:- info@angkorresources.com Website: angkorresources.com Telephone: +1 (780) 831-8722
Please follow @AngkorResources on , , , Instagram and .
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.
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Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to oil and gas risks of the seismic interpretation uncertainty and the preliminary nature of structural closure estimates; drilling risk and the absence of a drilled well on the Concession; reservoir and fluid uncertainty; PSC compliance obligations and the risk of relinquishment for non-performance; oil price exposure; and Cambodia-specific sovereign and regulatory risk.
As well, additional uncertainties on the mineral projects exist regarding the potential for gold and/or other minerals at any of the Company's properties, the prospective nature of any claims comprising the Company's property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing.
Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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