JOGMEC Joint Exploration Program to Begin at Angkor’s Oyadao South Halo Prospect
JOGMEC Joint Exploration Program to Begin at Angkor’s
Oyadao South Halo Prospect
Sexsmith, AB , ( March 30, 2017): Angkor Gold Corp. (TSXV: ANK and OTC: ANKOF)
(“Angkor” or “the Company”) is pleased to announce that it has received notification of the
Effective Date of the Joint Exploration Agreement (“JEA”) of the Oyadao South Project from its
partner, Japan Oil, Gas and Metals National Corporation (“JOGMEC”) to explore Angkor’s 100%
owned Oyadao South license . (See previous press released dated June 14, 2016 -
http://www.angkorgold.ca/1810-2/.)
A total investment of US$3 million in exploration expenditures by JOGMEC over a 3 year period
will begin immediately with Angkor as operator effective March 29, 2017 under the previously
agreed to JEA. The JEA also gives JOGMEC the option right to acquire 51% of the Oyadao
South license..
“The Angkor team had been working towards renewing the Oyadao South license, and with that
successfully completed, we are focussed on initiating our first work programme with JOGMEC”,
said Mike Weeks, CEO and Chairman of Angkor. “The Halo Prospect represents a cornerstone
asset for the company,” he continued, “and we worked very hard to find a world-class partner to
help build our understanding of the potential of this asset. JOGMEC’s extensive experience in
working with large porphyry systems globally will be extremely valuable to us moving forward.”
“Angkor and JOGMEC have now established a Management Committee and planning is
underway to initiate a first-round Induced Polarization (IP) programme followed by plans for
drilling once targets are identified,” said JP Dau, Angkor’s VP of Operations. “Angkor has
initiated a Request For Proposals (RFP) process for the IP work, and the Management
Committee will be reviewing the responses in short order.”
Previous exploration by the Company on the Halo Prospect has identified the potential of
copper-molybdenum-gold mineralization as expressed by hydrothermal alteration that covers an
area of approximately 7.25 square kilometres.
Key Highlights of the JEA Announced June 14, 2016:
• JOGMEC has been granted the option right to earn a 51% in the Oyadao South Project
located in Cambodia and will fund US$3.0 million during a Farm-In Period of 3 years or
less.
• During the Farm-In Period, Angkor will conduct all exploration activities and JOGMEC
will fund 100% of the programs.
Box 153, Sexsmith, AlbertaT0H 3C0
Canada • www.angkorgold.ca
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• Subsequent to the farm-in 51% milestone, each Party shall fund the ongoing cost thereof
in proportion to its existing actual and deemed entitlement to a participating interest in
the project.
• If the participating interest of either Angkor or JOGMEC is diluted to less than 15%, then
that Company will no longer be a party to the project, and its interest will be
automatically converted to a 1.5% NSR. At such time, the other party may at any time
afterwards purchase 0.5% of the 1.5% of the NSR for a one-time cash payment of
US$1,500,000.
Dennis Ouellette, B.Sc, P.Geol., is a member of The Association of Professional Engineers and
Geoscientists of Alberta (APEGA) and a Qualified Person as defined by National Instrument 43-
101 (“NI 43 -101”). He is the Company’s Senior Geologist and has reviewed and approved the
technical disclosure in this document.
ABOUT ANGKOR GOLD CORP.
ANGKOR Gold Corp. is a public company listed on the TSX -Venture Exchange and is a leading
mineral explorer in Cambodia with a large land package and a first -mover advantage building
strong relationships with all levels of government and stakeholders.
FOR FURTHER INFORMATION PLEASE CONTACT:
ANGKOR GOLD CORP.
Stephen Burega, Vice President of Corporate Development
Telephone: (647) 515-3734
Email: [email protected]
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.
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