GRANDE PRAIRIE, AB--(Marketwired - August 30, 2016) - ANGKOR GOLD
CORP. (TSX VENTURE: ANK) (OTC PINK: ANKOF)
("ANGKOR") is pleased to announce that the Council for the Development of Cambodia (CDC) has granted approval
for the certificate of registration on Mesco's Phum Syrung mine. The council consists of all 26 Ministries in Cambodia and is
chaired by the Prime Minister. As this process has been formalized and endorsed by the country's leaders, the issuing of the full
mining license shall now be completed by the Minister of Mines and Energy (MME).
H.E. Ly Thuch, Senior Minister, welcomed the good news and commented, "This represents a major step in developing the
resources of Cambodia that will bring value to the entire country. Taxes and royalties from this mine will contribute to health
care, education and poverty reduction."
"A milestone in Cambodia, this first commercial underground mining license has undergone significant scrutiny and review as
Ministries in the Kingdom of Cambodia strive to implement internationally-recognized best practices for a mining sector," stated
Mike Weeks, CEO of ANGKOR.
Week's continued, "The timeframe from exploration and proving economic quantity through to licensing has been approximately
five years which is remarkable given the 15-20 year averages experienced in many international mining jurisdictions. The
development time here makes Mesco's Phum Syarung mine a huge success by my estimation."
"We look forward to a final approval of the mining license by the Minister of Mines and Energy," stated John-Paul Dau, VP of
Operations for ANGKOR. "Many international investors and sector participants have been eagerly awaiting these final steps towards
building a viable and productive mining sector in Cambodia," he concluded.
ANGKOR has also retained Trapeze Capital Corp. to provide market-making services in accordance with TSX Venture Exchange
("TSX-V") policies. Under the terms of the agreement between the Corporation and Trapeze dated August 29, 2016 (the "Agreement"),
Trapeze will receive compensation of $5,500 per month plus GST and will not receive any Common Shares or options of the
Corporation as compensation. However, Trapeze and its clients may have or may acquire a direct interest in the securities of the
Corporation. ANGKOR and Trapeze are unrelated and unaffiliated entities; Trapeze is a member of the Investment Industry
Regulatory Organization of Canada, a participating organization of TSX and a member of TSX-V. The capital and securities required
for any trade undertaken by Trapeze as principal will be provided by Trapeze. The Agreement is for a term of six months and will
automatically renew for additional six month periods unless terminated by the Corporation.
ABOUT ANGKOR GOLD CORP.
ANGKOR's six exploration licenses 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.
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.