Mr. Stephen Burega reports

JOGMEC INCREASES PHASE 2 FUNDING FOR ANGKOR'S OYADAO SOUTH PROJECT TO USD $1.425 MILLION

Japan Oil, Gas and Metals Corp. (Jogmec) and Angkor Gold Corp. have increased the previously announced phase 2 budget of $1-million (U.S.) on Angkor's Oyadao South licence (see company press release dated Feb. 8, 2018) with an additional $425,000 (U.S.) for a new total of $1,425,000 (U.S.) to be spent in phase 2 exploration.

The funds will be used to expand the regional program on the 235-square-kilometre Oyadao South licence and to further refine targets around the Halo copper porphyry where the company previously successfully drilled into a mineralized copper porphyry system.

"We are very excited about this phase of the exploration program with Jogmec as our partner," said J.P. Dau, Angkor president. "The strategy for this phase remains focused on generating new targets relating to the intrusive systems on the property. We have a window during the wet season to focus our efforts on areas where we have previously identified extensive porphyry-style alteration or geophysical anomalies which will be the target of future drilling."

The phase 2 exploration program now includes:

• $425,000 (U.S.) in planned exploration expenditures;
• Additional regional exploration, including termite mound soil sampling programs over magnetic anomalies east and west and north of Halo;
• Geophysical surveys of new areas.

The new exploration program is expected to be completed before the end of August, 2018.

Angkor and Jogmec previously announced they had entered into a joint exploration agreement (JEA) to explore Angkor's 100-per-cent-owned Oyadao South licence with a total investment of $3-million (U.S.) in exploration expenditures by Jogmec over a three-year period. The JEA gives Jogmec the option right to acquire up to 51 per cent of Angkor's Oyadao South licence.

The company would also like to announce that Delayne Weeks will step down as vice-president of social development for Angkor. Ms. Weeks is moving to a consulting role where she will continue to advise and help Angkor on an as-needed basis. As a direct result of the great programs Ms. Weeks has built for the company, Angkor enjoys an exceptional record in Cambodia of providing grassroots educational, social, health and economic development programs in the communities where employees work and live. These have included health and dental clinics, clean water programs, English language and education programs, sanitation programs, and community-based businesses and economic development programs.

"Delayne has played an invaluable role on our team over the several years," said Mr. Burega. "Her vision and deep interest in Cambodia's social framework has elevated Angkor, which is regularly praised by the local and national governments in Cambodia as the ideal example of how companies should operate in the community."

About Angkor Gold Corp.

Angkor Gold 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.

Dennis Ouellette, BSc, PGeo, is a member of The Association of Professional Engineers and Geoscientists of Alberta (APEGA No. 104257) and a qualified person as defined by National Instrument 43-101. He is the company's vice-president of exploration and has reviewed and approved the technical disclosure in this release.

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