Market Overview

Angkor Gold Corp Initiates 2013 Exploration Season After the Monsoon Season in Banlung Cambodia

VANCOUVER, British Columbia, Dec. 13, 2012 (GLOBE NEWSWIRE) -- ANGKOR GOLD CORP. (TSX-V:ANK) ("ANGKOR") is pleased to announce that the 2013 exploration program will be launched shortly with geochemical surveys including stream sediment and termite mound sampling on all five of it's 100% owned tenements. The stream sediment program will further expand Angkor's regional knowledge and establish priority for follow up exploration. Termite mound sampling has proven to be a quick and effective way to define geochemical anomalies and will be used on zones with known gold occurrences such as the 10Km fault corridor between the Phum Syarung and Dokyong prospects.

Detailed geological field mapping will also begin in Andong Meas, Dokyong and Kunmum; the primary focus is to refine further geochemical targets for diamond core drilling which will be announced early in 2013.

Last season, drill results from the Phum Syarung Prospect included 16.67g/t over 4.05m http://angkorgold.ca/blog/?p=26

To view this map, please visit http://orders.newsfilecorp.com/files/1494/3573_prx1x1.jpg

The VP Exploration, Dr Adrian G Mann commented: "Our successes over the past seasons are a direct result of the aggressive exploration strategy we have adopted, and reflect the dedication and hard work of our geological team. I have every confidence that they will continue to build on these successes, bringing the more mature ones to fruition, while we further advance some of our other promising targets."

Mike Weeks, CEO, presently in Cambodia, commented: "We are excited to pick up exactly where we left off from our last exploration season and to build on the momentum our team has created. Our strategy is straightforward: ACTION - meaning exploration, deal-making and continuing our sustainable community development program. We've been exceptionally busy over the last quarter and being able to initiate our 2013 exploration season earlier than expected is a testament to that effort. I'm anticipating being able to release a steady news flow of developments in 2013 as we help develop Cambodia's gold mining industry."

ANGKOR GOLD CORPORATION is a public company listed on the TSX-Venture exchange. It is Cambodia's premier gold explorer with a significantly large land package, a first-mover advantage with excellent relationships at all levels (local to national).

Cambodia offers Angkor's shareholders an exciting advantage: It is relatively unexplored but has a well known history of artisanal mining; Angkor's prospects are accessible, mineable and well-serviced; Angkor continues to explore efficiently, maximizing the low exploration costs. Cambodia has a stable, democratic government, a business-friendly environment, and strong infrastructure in place.

Angkor's midterm ambition is to self-finance its exploration activities. In Cambodia, Angkor intends to make a positive difference while rewarding its shareholders with strong, ethical value creation.

Angkor currently has 3 major projects each with multiple prospects: "Border", "Phum Syarung" and "Okalla". Solid progress has been made on each over the past 3 years. 24% of the company is owned by insiders, and the management team offers the right blend of technical and business experience.

The company has 5 exploration licenses in the Kingdom of Cambodia covering a total of 1180 km2, and 3 Memoranda of Understanding with the Ministry of Mines, Industry and Energy covering a further 1499 km2. The company has been actively exploring these concessions over the past 3 years, and has now covered all tenements with stream sediment geochemical sampling, has flown low level aeromagnetic surveys over much of the ground, drilled 17,556 metres of NQ core in 143 holes, of which 8,815m in 66 holes were drilled in the 2012 season; and has collected in excess of 20,000 'C' zone soil samples in 8 centres of interest, over a combined area of 20km2, in addition to numerous trenches and detailed geological field mapping. Exploration on all tenements is ongoing.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM

Reader Advisory

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the timing and completion of the Corporation's financings and related information. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded on the basis of expectations and assumptions made by the Corporation. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, Cambodia, the United States and globally; industry conditions, including fluctuations in the prices of gold and other base metals; governmental regulation of the mining industry in both Canada and Cambodia, including environmental regulation; unanticipated operating events or performance which can reduce production or cause production to be delayed; failure to obtain industry partner and other third party consents and approvals, if and when required; competition for and/or inability to retain mining equipment and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in mining operations; competition for, among other things, capital, undeveloped lands, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, drilling, processing and transportation problems; changes in tax laws and incentive programs relating to the mining industry; failure to realize the anticipated benefits of acquisitions and dispositions; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the TSX Venture nor its regulation services provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this press release

CONTACT: ANGKOR GOLD CORP. Mike Weeks, President Telephone: (780) 568-3801 Email: mw@angkorgold.ca
 

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