(VANCOUVER, BC (September 6th 2012)
ANGKOR GOLD CORP. (TSXV: ANK) (�ANGKOR�) is pleased to announce that it has acquired 100% ownership of its existing licenses and acquired 100% ownership of a new concession, Andong Meas.
The Acquisition results in two significant accomplishments. First, it adds 100% ownership of an entirely new 209-square kilometre concession known as Andong Meas. Second, Angkor previously held 90% of their initial 4 properties and this transaction results in Angkor acquiring the remaining 10% interests. Angkor now owns 100% in five concessions, namely Banlung, Banlung North, Oyadao, Oyadao South, and Andong Meas.
Mike Weeks, President and CEO of Angkor Gold Corp. stated, �This acquisition brings great value to Angkor. This further confirms our position that our exploration in Cambodia is a country play. And Andong Meas � What a great addition to our exploration portfolio! It is
adjacent to two of our other properties; it extends and increases our deposits of mineralization, and it substantially increases our progress towards an economic deposit. I have witnessed multiple locations with hundreds of artisanal workings, and these guys don�t work the land in this manner unless they are finding gold. This has been confirmed with recent assays�
The Andong Meas property is contiguous to the west and northwest of Angkor�s Oyadao license and has had considerable exploration work completed. Aeromagnetic surveys and geological satellite imagery indicate numerous anomalies. Andong Meas is also known to have a rich history of artisanal mining which has earned it the local name which translates to �Well of Gold�.
Recent trips into the concession have identified 4 major areas of interest. On Weeks� recent trip to Cambodia, he observed a long adit, penetrating deep within the hill where locals had been mining the ore. Multiple exploration trenches were also noted in the area cutting across a vein system for several kilometers. On a second artisanal site, heavy equipment had been used to start a small open pit mine. Rock grab samples, reported by the previous owner Liberty Mining have yielded very encouraging results grading 2.09, 8.47, 24.6 and 76.9g/t Au. The third and fourth sites have similar evidence of workings.
Angkor plans to deploy men and establish a camp at the sites immediately. Weeks said, �The support from the local people who guided us into the sites is indicative of the results of our efforts to maintain exemplary social responsibility. Assays of the veins in the open pit and the mine shaft could give us drill-ready targets soon.�
More importantly, these new discoveries are merely a very small part in a sequence of a 25-kilometre arc of gold occurrences and anomalies, which starts in the new concession of Andong Meas. The anomalies and abundance of gold occurrences within the arc seem to be interrelated and form a very large system.
![ank_map0.jpg ank_map0.jpg](http://tsxv.net/admin/temp/newsletters/951/ank_map0.jpg)
![ank_map1.jpg ank_map1.jpg](http://tsxv.net/admin/temp/newsletters/951/ank_map1.jpg)
Dr. Adrian Mann, VP of Exploration, said: �Given the proximity of this property to our Oyadao Border prospects, the clear northwesterly trend shown in our soil geochemical surveys at Border prospect and the extensive veining in the artisanal pits and shafts, makes Andong Meas a logical acquisition."
Pictures of the artisanal workings can be viewed at www.angkorgold.ca/gallery.html
Angkor completed this acquisition (the �Acquisition�) through the purchase of all of the issued and outstanding shares of Liberty Mining International Pty Ltd. (�Liberty�) from Interactive Industrial Solutions Inc. (�IISI�) in exchange for cash in the amount of $200,000 and 4,250,000 common shares in the capital of Angkor. These shares will be voluntarily escrowed for 6 months.
IISI is an Alberta corporation owned by Michael Weeks, the President and CEO of Angkor. Liberty is an Australian corporation which owns Liberty Mining International Pty Ltd., a Cambodian subsidiary company, which owns a 10% interest in Angkor�s Banlung, Banlung
North and Oyadao concessions. Liberty also owns Transol Mining and Exploration Pty Ltd., which owns 100% of the 209 square kilometre Andong Meas concession in Cambodia and a 10% interest in Angkor�s Oyadao South gold exploration property.
The Acquisition was previously announced in Angkor�s press release dated May 1, 2012.
The QP for this release, the technical portions of which he wrote and approved, is Dr. Adrian G. Mann, P.Geol., VP Exploration for ANGKOR. He is a graduate of London University and of the University of the Witwatersrand, with over 40 years world-wide experience in mineral exploration and mining geology. Dr. Mann lives in Calgary, Alberta.
ANGKOR GOLD CORPORATION is a public company listed on the TSX-Venture exchange. The company has 5 exploration licenses in the Kingdom of Cambodia covering a total of 1348 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 8 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 this season; and has collected in excess of 20,000 �C� zone soil samples in 8 centres of interest, over a combined area of 20km2,
FOR FURTHER INFORMATION PLEASE CONTACT:
ANGKOR GOLD CORP.
Mike Weeks, President
Telephone: (780) 568-3801
Email: mw@angkorgold.ca
www.angkorgold.ca
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
Rob Grace,
Corporate Communications
Angkor Gold Corp. 1188 West Georgia Street Suite 1440 Vancouver, British Columbia V6E 4A2
B: 778.998.5431
Email: rg@angkorgold.ca
Web: www.angkorgold.ca |
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