Mr. Mike Weeks reports

ANGKOR GOLD CORP. PRIVATE PLACEMENT

Angkor Gold Corp. has arranged a financing for up to $2-million in unsecured convertible notes of the corporation.

The notes have a three-year term and bear interest at the rate of 6 per cent per annum if paid in cash or 10 per cent per annum if paid by common shares. At the option of the noteholder, interest payments may be made in cash or in the form of common shares at an issue price equal to the market price at the time of settlement. At the end of the term the company will have the option to convert the principal amount into common shares in the capital of the company at a conversion price of 25 cents per share, or repay the outstanding principal in cash. The notes will also consist of a detachable warrant exercisable for a common share in the company at 30 cents for a period of three years from the issue date.

The company further announces that it has received and is closing the first tranche of this financing for a total of $550,000. Pending TSX Venture Exchange approval, the company will issue the convertible note for $550,000 and 2.2 million warrants in connection with this first tranche.

The proceeds from this offering will be used to finance continued gold and copper exploration on Angkor's five exploration licences in Cambodia, and for general working capital purposes.

The offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

About Angkor Gold Corp.

Angkor Gold 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.