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Angkor notes anniversary of ESG agreement in Cambodia

2024-05-01 14:30 ET - News Release

Ms. Delayne Weeks reports

ANGKOR RESOURCES CELEBRATES THREE YEARS PRECEDENT ESG AGREEMENT WITH INDIGENOUS COMMUNITIES ON GOLD PROJECTS, CAMBODIA

Angkor Resources Corp. is remarking on the third-year completion and celebration of Cambodia's first national agreement with indigenous communities in Ratanakiri in the extractive sector. The agreement represents leading environmental, social, governance (ESG) practices undertaken by Angkor across its projects.

The agreement is the first of its kind in Cambodia, a national template between industry and indigenous communities that is long term and covers all areas of development from prospecting through exploration, development, mining and reclamation. The agreement between Angkor and Jarai communities in the Wild Boar prospect area covers topics including clean water and sanitation solutions, health care, and economic development opportunities.

The Wild Boar prospect, with multiple surface samples with gold from 2.32 to 70.7 grams per tonne (gpt) of gold (Au), is one of the prospects in the agreement area. Local community members become part of the team in activities undertaken on their lands.

At the request from the communities, Angkor also worked with Advanced Bank of Asia (ABA) to undertake projects to identify microfinance exploitation that had become rampant and devastating to communities.

Delayne Weeks, chief executive officer, comments: "We have some great gold and copper mineral projects in the area, and it has always been part of our philosophy to listen to their needs and work side by side with the local people who live on those lands. We believe it is a necessary component to long-term success in discovery and production of projects, and we all win when we include the needs of everyone in the solutions and outcomes. We are immensely proud of this as a precedent in Cambodia; the past three years have progressed smoothly, without any conflict, because we are all involved in the solutions."

Communities are members of the Jarai tribe, including six villages and many farms, and their communal lands cover an area of 40 square kilometres across the Andong Meas exploration licence of 118 square kilometres. In the past two months, additional Jarai communities in other areas have requested that Angkor consider similar agreements for and with their communities as well.

Celebration activities included updates for all community members, a tribute to community land and local food production.

The celebration took place in the shady areas of the surrounding forest to accommodate the sweltering temperatures of plus-40 C prevailing across Southeast Asia currently.

Qualified person

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 on site and has reviewed and approved the technical disclosure in this document.

About Angkor Resources Corp.

Angkor 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, the Andong Meas licence and the Oyadao North licence in Ratanakiri province, and the Andong Bor licence, straddling Oudar Meanchey and Banteay Meanchey provinces. Angkor's 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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