Mr. Mike Weeks reports

ANGKOR RESOURCES' GAS CAPTURE ADVANCES IN EVESHAM, SASKATCHEWAN

Angkor Resources Corp.'s operation of natural gas/carbon capture increased to over 450,000 cubic feet/day in March, 2023, at its gas capture project in Evesham, Sask.

Initiated in January and amid a cold winter start to the project, the abundant snow and sub-30 C temperatures complicated tying oil production wells into the gas conservation facilities. However, gradually adding carbon emission natural gas into the pipeline continued and March production delivered consistent numbers, processing an average of 477,000 cubic feet/day (477 MCF). The project collects certain associated natural gas that is otherwise emitted into the atmosphere from energy production. Mike Weeks, president of EnerCam Exploration Ltd., a subsidiary of Angkor Resources, comments: "As we all strive for cleaner forms of energy, capturing and processing these gases and selling them through a provincial sales distribution only makes sense from both an environmental and economical view. Instead of flaring or venting gas to the atmosphere, we collect natural gas emissions and reduce greenhouse gases."

Examples of oil storage tanks venting and flaring

The project has current capacity up to three million cubic feet per day, but each well site requires a pipeline to connect to the gas capture facility site where dehydration and compression take place. The company targets 500 MCF/day as a base and will continue to work with the operating partners of the project, Eyehill Creek Exploration Ltd., to expand the collection and processing of carbon emissions into the provincial natural gas sales pipelines.

The project receives 40 per cent of the net sales proceeds after payback of the EnerCam investment of $344,000 (with 80 per cent of proceeds until repayment) and is dependent on the spot price of natural gas, which has ranged from $2.65 to $7.10/gigajoule over the past 12 months. Payback of the investment is estimated at 12 to 18 months if gas prices remain as low as today's gas prices of $3/GJ.

About Angkor Resources Corp.

Angkor Resources is a public company, listed on the TSX Venture Exchange, and is a leading resource optimizer in Cambodia working toward mineral and energy solutions across the country. The company holds multiple mineral exploration licences in the country, and in late 2022, its subsidiary, EnerCam Resources, was granted an onshore oil and gas licence of 7,300 square kilometres in the southwest quadrant of Cambodia. Angkor expanded to Canada's energy sector in 2022 with its carbon capture and gas conservation project in Saskatchewan, Canada, proving its long-term commitment to environmental and social projects across expanding jurisdictions.

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