Angkor Increases Capture of Flared and Vented Emission Gas

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ANGKOR INCREASES CAPTURE OF FLARED AND VENTED

EMISSION GAS

GRANDE PRAIRIE, ALBERTA (September 26, 2023)

Angkor Resources Corp. (TSXV: ANK and OTCQB: ANKOF) (“Angkor” or the “Company”) announces the

expansion plans to increase the capture of flared and vented emissions at Evesham, Saskatchewan.

The Project, which was undertaken by the Company’s energy subsidiary EnerCam Exploration Ltd. (EnerCam) in

partnership with Saskatchewan operators, Eyehill Creek Exploration Ltd. (Eyehill), is advancing to capture

emissions from surrounding targeted oil production wells that are flaring or venting gases to the atmosphere.

Initially the project focused on the immediate gas wells within the ‘Eyehill’ project area and its 26 producing

wells. With those wells connected to the gas plant, the team is now sourcing additional wells from other

production companies that are venting or flaring their gas to the atmosphere. By adding more connecting

pipeline, more emissions can be captured and processed into the provincial sales distribution network.

“Our goal is to expand the gas capture to three million cubic feet per day, the current plant capacity” explains

Mike Weeks, President of EnerCam. “The limitation is not with the facility, but rather Saskatchewan’s lack of

infrastructure of connecting pipelines from well sites that are still flaring and venting gases. Reaching out to

other producers is a prudent step to take to capture more emissions and results in positive environmental

solutions to the continuing need of energy.”

Multiple variables impact the economics for gas but using $2.50/MCF (thousand cubic feet), projections indicate:

▪ 500,000 cubic feet/day at $2.50/MCF generates approximately $25,000 net proceeds per month

▪ 2,000,000 cubic feet/day at $2.50/MCF generates approximately $130,000 net proceeds per month

▪ 3,000,000 cubic feet/day at $2.50/MCF generates approximately $190,000 net proceeds per month

Figure 1 Gases flared from oil production site. Figure 2 Water Injection Well

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Over the past two months, Eyehill also added a second water disposal location which allows for increased

production of both oil and gas from the selected wells.

Weeks describes the process, “Each well produces oil, water, and gas. We must manage reinjecting the right

quantities of water back into the ground, so the project creates the best productive cycle. By adding a second

water disposal well, we can maximize the oil and gas coming from the wells because the process will no longer be

limited by the water handling capabilities. This will allow us to capture more emissions while also generating

better oil and gas results”.

The team expects to see the results in improved cash returns 60 days after these adjustments, which were

completed in August. EnerCam receives 40% of the proceeds from gas sales after startup costs and workovers

have been repaid.

EnerCam continues to seek additional solutions and niche markets to reduce emissions and improve energy

creation.

ABOUT ANGKOR RESOURCES CORPORATION:

Angkor Resources Corp. is a public company, listed on the TSX -Venture Exchange, and is a leading resource

optimizer in Cambodia working towards mineral and energy solutions across Canada and Cambodia. Angkor’s

carbon capture and gas conservation project in Saskatchewan, Canada is part of its long-term commitment to

Environmental and Social projects and cleaner energy solutions across expanding jurisdictions. Angkor’s carbon

capture and gas conservation project in Saskatchewan, Canada proves its long-term commitment to Environmental

and Social projects across expanding jurisdictions. The company holds three mineral exploration licenses in

Cambodia and its subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square

kilometers in the southwest quadrant of Cambodia.

CONTACT:

Delayne Weeks - CEO

Email: [email protected] Website: angkorresources.com Telephone: +1 (780) 831-8722

Please follow @AngkorResources on LinkedIn, Facebook, Twitter, Instagram and YouTube.

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of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

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 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 e conomic 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 o f 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.