Angkor Gold Completes Oversubscribed Private Placement

GRANDE PRAIRIE, AB–(Marketwired – July 27, 2016) – Angkor Gold (TSXV:ANK) announces that it has completed its non-brokered private placement, as previously announced (the “Private Placement“). The previously announced $1,200,000 Private Placement was oversubscribed and the Company raised total gross proceeds of $1,250,400 through the issuance of 3,126,000 units (the “Units“) at a price of $0.40 per each unit consists of one common share of and one-half common share purchase warrant ( each whole warrant, a “Warrant”), each Warrant entitles the holder thereof to purchase one additional common share at a price of $0.50 per share for a period of 12 months from the date of issuance and is also subject to an acceleration clause. The securities issued will have a four month hold period from the date of closing. The Private Placement is subject to TSX Venture Exchange approval.

“Along with the work we will be doing with our new partners, Blue River and JOGMEC, we will also be focusing our energy on the Andong Meas license,” said JP Dau, VP of Operations. “We have seen an increased level of interest recently from various international players, and are hopeful that additional partnerships are on the horizon,” he concluded.

ANGKOR is expecting the final approval of MESCO Gold’s ESIA in the coming weeks. Also, ANGKOR recently announced two separate earn-in agreements – the first with Blue River Resources of Vancouver, Canada (May 9, 2016)and the second with Japan Oil, Gas and Metals National Corporation (“JOGMEC”) (June 14, 2016). In both cases, ANGKOR will be Operator on the projects for the upcoming work season.

“Along with operational capital, this cash injection will allow ANGKOR to continue to build shareholder value as we begin the process of identification, and eventual acquisition, of new exploration licenses in Cambodia” stated Mike Weeks, Chairman and CEO of ANGKOR.

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