Ms. Delayne Weeks reports

ENERGY PRODUCTION PROJECT EVESHAM MACKLIN RECEIVES APPROVAL FOR WATERFLOOD PROCEDURES AT EVESHAM SITE

Angkor Resources Corp. has learned that the Saskatchewan Ministry of Energy and Resources has issued an enhanced oil recovery approval for the Macklin Sparky field. The approval authorizes immediate conversion of three suspended well locations to water injection; further conversions for water injection will be authorized as needed. Angkor and its subsidiary, EnerCam Exploration Ltd., contribute 40 per cent of the capital costs and operating for additional well conversions under their agreement.

The waterflood approval allows for enhancing reservoir pressure support and could double the oil recovery from the field over time. The approval allows for 12 months to implement the three approved sites to be converted from suspended oil producers to water injection. The first conversion will be under way mid-April with subsequent wells to follow.

By carefully balancing reservoir injection with production, the company can optimize and create more sustainable production. Having its own water trucks and operators are two big advantages and adding more production capability helps to improve the overall project.

The Evesham/Macklin production project, of which 40 per cent was acquired by EnerCam on Dec. 12, 2023, included the oil production from 33 vertical wells and a gas capture facility and all related pipelines, water disposal wells, water trucking equipment etc.

On the additional costs for waterflood procedures, chief executive officer Delayne Weeks comments, "By investing in the waterflood now, we expect to increase production and improve the financial performance over the next several months."

Jamie Carlson, PEng, is the practising professional engineer responsible for reviewing and approving the data contained in this press release.

About Angkor Resources Corp. Angkor Resources Corp. is a public company, listed on the TSX Venture Exchange, and is a leading resource optimizer working toward mineral and energy solutions across Canada and Cambodia. Angkor's carbon capture and gas conservation project in Saskatchewan, Canada, is part of its long-term commitment to environmental and social projects and cleaner energy solutions across expanding jurisdictions.

The company holds three mineral exploration licences in Cambodia and its subsidiary, EnerCam Resources, was granted an onshore oil and gas licence of 7,300 square kilometres in the southwest quadrant of Cambodia.

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