GRANDE PRAIRIE, ALBERTA (November 18, 2016): ANGKOR GOLD CORP. (TSXV: ANK and OTC: ANKOF) (“Angkor” or the “Company”) announces that the Company and Gravitas Securities Inc. have jointly agreed to cancel the Company’s proposed financing previously announced on August 16, 2016.
“Our canceling of the financing is due to our necessity to complete a NI 43-101 report on Mesco Gold’s property. Working with the Gravitas team over the past few months has been an excellent experience,” stated Mike Weeks, CEO and Chairman of Angkor. “We look forward to continuing our relationship and working together again in the future.”
“As the rainy season appears to have subsided, Angkor is now proceeding with its exploration activity for the 2016-2017 dry season. Plans for the Banlung and Oyadao South licenses are moving forward. Both areas are part of separate Joint-Venture agreements, and funding for these programs will be covered by our partners while all work will be completed by Angkor staff.”
Angkor will re-evaluate its financing requirements in the near future.
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 diamond drilled 21,855 metres in 190 holes, augured 2643 metres over 728 holes, collected over 165,000 termite mound samples and ‘B’ and ‘C’ zone soil samples in over 20 centres of interest over a combined area of more than 140km2, in addition to numerous trenches, IP surveys 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
ANGKOR GOLD CORP.
Stephen Burega, Vice President of Corporate Development
Telephone: (647) 515-3734
Email: [email protected]
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.