Mr. Galen McNamara reports

ANGOLD RESOURCES CLOSES PRIVATE PLACEMENT

Angold Resources Ltd. has closed its non-brokered private placement financing raising gross proceeds of $844,000 through the issuance of 16.88 million shares at a price of five cents. All securities issued under the offering are subject to a statutory hold period until March 8, 2024, in accordance with applicable securities laws. No finders' fees were paid in connection with the Offering.

The Company also announces that it has settled outstanding indebtedness (the "Indebtedness") of $90,000 owing to certain arms-lengths parties and an officer of the Company in connection with working capital loans made to the Company, and a further $61,000 in indebtedness owing to certain officer's and service providers of the Company in consideration for services previously rendered to the Company. The Company has settled the Indebtedness through the issuance of 3,020,000 common shares at a deemed price of $0.05 per share.

The settlement of $91,000 of the Indebtedness constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuance to related parties is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company's shares are not listed on a specified market. The issuance to related parties is expected to be exempt from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101, in that the fair market value of the consideration for the securities issued to the related parties does not exceed 25% of the Company's market capitalization.

All securities issued in settlement of the Indebtedness are subject to a statutory hold period until March 8, 2024, in accordance with applicable securities laws.

Qualified Person

The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., the interim CEO of the Company and a qualified person as defined by National Instrument 43- 101.

About Angold Resources Ltd.

Angold is an exploration and development company targeting large-scale mineral systems worldwide. The Company's assets include projects in Chile and Canada. The Dorado Project in Chile features a major porphyry-gold system where drill results include 302 m at 0.71 g/t Au. The Cordillera Project in Chile is strategically located between two multi-million ounce gold deposits and features multiple gold exploration targets. The Uchi Project in Canada is prospective for base and precious metal mineralization.

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