Ms. Stella Frias reports

ANGEL GOLD ENTERS OPTION AGREEMENT TO ACQUIRE EL PORVENIR GOLDPROPERTY FROM MINEROS S. A.

As part of its acquisition strategy, Angel Gold Corp. has entered into an option agreement with Mineros SA, a private Colombian mining company, to acquire 100 per cent of the El Porvenir gold property. This property is composed of approximately 5,945 hectares and is situated within the Segovia-Remedios gold belt in the department of Antioquia in Colombia. See the map at the company's website. All amounts are expressed in United States dollars unless otherwise noted.

Under the terms of the agreement, Angel can earn 100-per-cent interest in the property by making aggregate option cash payments consisting of $2-million and incurring minimum exploration expenditures of $5.2-million (subject to environmental permits and exploration results) over a five-year period.

Stella Frias, president and chief executive officer of Angel Gold, stated: "I am thrilled to be bringing a property with such merit into Angel's portfolio. This property presents a significant exploration opportunity in the Segovia-Remedios gold belt, historically the largest gold-producing region in Colombia. It is strategically located adjacent to Gran Colombia's flagship Segovia gold project, which historically produced approximately 4.6 million ounces of gold over the last 150 years and where Gran Colombia is currently producing 80,000 ounces per year with plans to triple production by the end of 2015. We have worked six months with Mineros to reach an agreement that is mutually beneficial. Mineros is a private, 100-per-cent-Colombian business group with over 35 years expertise in exploration and mining of precious metals and currently producing 120,000 ounces of gold per year from alluvial and underground mines in the Segovia-Remedios belt. We look forward to strengthening this relationship with our exploration expertise in Colombia. Our experienced team of geologists has already done an initial review of the property's well-documented historic exploration, allowing us to quickly identify four priority drill targets. Further due diligence over the next 90 days will enable Angel to establish a well-defined and targeted field exploration and drill program in the near future."

Property option terms

Angel may earn a 100-per-cent interest in the property by meeting the following obligations:

1. Making cash payments to Mineros totalling $2-million:
   • $50,000 upon the agreement's signature;
   • $50,000 due 90 days after the agreement's signature;
   • $100,000 upon the second anniversary of the due diligence and approval period;
   • $400,000 upon the third anniversary of the due diligence and approval period;
   • $400,000 upon the fourth anniversary of the due diligence and approval period;
   • $1-million upon at the fifth anniversary of the due diligence and approval period.
2. Spending an aggregate of $5.2-million over five years (subject to environmental permits and exploration results):
   • $200,000 in year one;
   • $500,000 in year two;
   • $1.5-million per year in years three, four and five.

Angel retains the right to exit the agreement at any time over its term. Also, by paying the balance of the agreement's value, Angel can acquire the mining title at any time over its term.

Terms of the agreement also stipulate that Angel, upon acquiring Mineros's interest, will grant a 3-per-cent net-smelter royalty to Mineros from the commercial production of mineral products from the property.

The transaction is conditional upon TSX Venture Exchange approval.

We seek Safe Harbor.