GRANDE PRAIRIE, AB--(Marketwired - August 16, 2016) - ANGKOR GOLD
CORP. (TSX VENTURE: ANK) ("Angkor" or the "Company") is pleased to
announce a Brokered Private Placement (the "Private Placement") and has engaged Gravitas Securities Inc. ("Gravitas Securities"
or the "Agent") to complete a best efforts private placement to fund Angkor's operations and exploration activities with respect
to its license package covering 1,352 km2 across six licenses located in the northeast regions of Cambodia.
The private placement is for 3,488,372 units (each "Unit") at a purchase price of $0.43 per Unit, for aggregate gross proceeds
to the Company of up to $1,500,000. Each Unit consists of one (1) common share ("Common Share") of the Company and one (1) full
non-transferable share purchase warrant ("Warrant").
Each full Warrant will entitle the holder to acquire one (1) Common Share at an exercise price of $0.50 for a period of 12
months from the closing date of the Private Placement. In the event that the Company's common shares trade at a closing price on
the Exchange of greater than $0.60 per share for a period of 10 consecutive trading days at any time after the closing date, the
Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will
expire on the 30th day after the date hereafter referred to as the Eligible Acceleration Date on which such notice is
given by the Company. The private placement is subject to TSX Venture Exchange approval. There will be a hold period of four
months and one day on all securities issued under this financing.
Gravitas Securities has agreed to act as agent for and on behalf of Angkor with the proposed best efforts private placement
offering, and is entitled to an Agency Fee of 7% of the cash received from the sale of the Offered Securities, and Broker
Warrants equal to 7% of the aggregate number of Common Shares issued, on the same terms as the Warrants acquired by subscribers
to the offering.
"We are thrilled to be working with the Gravitas team," stated Mike Weeks, Chairman of Angkor. "Their previous successes with
other companies gave us the confidence that they were the right partner for Angkor, and we are excited by the extensive strategic
network they bring to the table," he concluded.
The Company intends to use the net proceeds of the Private Placement to fund (1) the acquisition of new land tenements in
Cambodia; (2) the 2016-2017 work season with a primary focus on the Andong Meas and Koan Nheak tenements; and (3) for general
working capital and maintaining Angkor's land assets in good standing.
ABOUT ANGKOR GOLD CORP.
ANGKOR's six exploration licences in the Kingdom of Cambodia cover 1,352 km2, which the company has been actively exploring
over the past 6 years. The company has now covered all tenements with stream sediment geochemical sampling and has flown low
level aeromagnetic surveys over most of the ground. ANGKOR has drilled 21,855 metres of NQ core in 190 holes, and has collected
in excess of 110,000 termite mound, 'B' and 'C' zone soil samples in over 20 centres of interest over a combined area of over
140km2, in addition to numerous trenches and detailed geological field mapping. Exploration on all tenements is ongoing.
Angkor Gold Corp. is a public company listed on the TSX-Venture Exchange and is Cambodia's premier mineral explorer with a
significantly large land package and a first-mover advantage building strong relationships with all levels of government and
stakeholders.
ABOUT GRAVITAS SECURITIES INC.
Gravitas Securities, known for sophisticated sector expertise, tactical individuals with a commitment to excellence, global
integration and innovation, is a leading independent, internationally owned and operated wealth management and capital markets
firm. Gravitas Securities provides a wide range of investment mandates and services for retail, institutional and corporate
clients globally from offices in Toronto and Vancouver. Gravitas Securities has an affiliated broker dealer in the United States,
Gravitas Capital International as well as an affiliated registered investment advisor Gravitas Wealth Advisors, LLC. Through
Gravitas International Corporation's ownership stake in Gravitas Securities, the Company will also be connected to investment
opportunities in China and the Middle East.
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.