SEXSMITH, AB--(Marketwired - November 13, 2017) - Angkor Gold Corp. (TSX VENTURE: ANK) and (OTC PINK: ANKOF) ("Angkor" or "the Company") CEO Mike Weeks announced today the termination of the Company's earn-in exploration agreement with Blue River Resources Ltd. (TSX VENTURE: BXR) on Angkor's wholly-owned Banlung License, which includes the Okalla East and Okalla West Prospects.
"Blue River has not met its obligations under the earn-in agreement," said Angkor CEO Mike Weeks, "and as such Angkor has terminated the agreement on the Banlung License effective immediately." As a result of the termination of the Agreement, Blue River has earned no interest in or rights to the Banlung License.
Angkor has five exploration licenses in Cambodia totalling approximately 983 square kilometres. All licenses were renewed earlier this year. The Company has earn-in and exploration agreements in place for several of Angkor's other licenses. These include a USD $3 million three year agreement with JOGMEC (Japan Oil, Gas and Metals National Corporation) on Angkor's 100% owned Oyadao South license that commenced this year, and the recently announced USD $2 million, two year exploration agreement with Australian-based gold company, Emerald Resources NL (EMR.AX), on Angkor's wholly-owned Koan Nheak property in northeastern Cambodia.
"Angkor is in great demand as a development partner in Cambodia," continued Weeks, "with excellent government relations, a large land package and long history in the country. While we are sorry to end our relationship with Blue River, we have numerous parties interested in our exploration licenses and hope to explore several proposals for advancing Banlung in the near future."
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.
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.