Angkor Resources' Canada Wall Copper Anomaly Expanded at Depth and on Strike

Grande Prairie, Alberta--(Newsfile Corp. - December 8, 2021) - Angkor Resources Corp. (TSXV: ANK) (OTCQB: ANKOF) ("Angkor" or "the Company") announces the Canada Wall prospect on its 100% owned Andong Meas license is laterally extensive and extends below a drillhole completed on the prospect in October.

As reported in October, 2021, 139 Metres Consistent Mineralization In Test Hole - Angkor Resources Corp., a test hole was completed at Canada Wall testing a better-defined copper anomaly within the larger copper, molybdenum anomaly of the Canada Wall intrusion. The hole showed moderate potassic alteration with pyrite and minor chalcopyrite mineralization within a diorite intrusion within the more extensive granodiorite.

Recent 3D analysis of existing magnetic data over the Canada Wall intrusion shows that the test hole is within a distinct magnetic feature. This magnetic feature has a magnetic response (susceptibility) lower than the other magnetic features in the area.

The magnetics feature extends from surface to 500m and below the CW21-010D drillhole base, which was 349 m at total depth. This is a broader target and is open to depth to the north and south.

The magnetic feature overlays the elevated copper within the drillhole. Analysis of this data continues to fully define this target.

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Figure 1. Copper anomaly over aeromagnetic image (RTP)

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Dennis Ouellette comments and describes, "What we see here has similar features of porphyry copper deposits in the SW Unites States. The weak magnetic signature of the wider target area with the surrounding magnetic high is also typical of some global porphyry copper deposit cluster models such as the Highland Valley copper porphyry deposit cluster in British Columbia, Canada. Additional positive indications of copper porphyry deposit fertile terrane is the existence of Proterozoic gneissic rocks indicating an uplift of basement lithology. This is indicative of the structural controls necessary for the formation of a deposit of this style."

Ouellette continues, "This porphyry is similar in age to the Halo copper porphyry occurrence the company discovered 23 kilometers to the south. The Halo discovery proved the concept of the existence of porphyry copper deposits existing in Cambodia. However, the Halo occurrence was heavily modified by post deposition alteration."

A field team will be deployed immediately to run a planned ground magnetic survey, consisting of 60 lines 1000 m long at 25 m centers, a closer spacing than the previous survey. A close-spaced auger soil sampling program will also be completed over other magnetic features like the one tested. This will refine the target and guide development of a drill program using magnetics and geochemical data.

QUALIFIED PERSON

Dennis Ouellette, B.Sc, P.Geo., is a member of The Association of Professional Engineers and Geoscientists of Alberta (APEGA #104257) and a Qualified Person as defined by National Instrument 43-101 ("NI 43-101"). He is the Company's VP Exploration on site and has reviewed and approved the technical disclosure in this document.

ABOUT ANGKOR RESOURCES CORP.

Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia with multiple licenses in the NE quadrant of the country. In 2020, the company received approval and initiated negotiations on Production Sharing Contract (PSC) terms for Block VIII, a 7,300 square kilometre oil and gas license in Cambodia.

CONTACT:

Delayne Weeks, CEO
Telephone: +1 (780) 831-8722
Email: da@angkorgold.ca
Website: https://www.angkorresources.ca or follow us on Twitter @AngkorResources

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 information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company's properties, the prospective nature of any claims comprising the Company's property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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