Ms. Delayne Weeks reports

ANGKOR RESOURCES ANNOUNCES $3,500,000 FINANCING

Angkor Resources Corp. has entered into a term sheet with institutional investor Sorbie Bornholm LP to secure approximately $3.5-million from the issuance of 14 million units. The units consist of: (a) common shares at an issuance price of 25 cents, subject to the terms of the sharing agreement (as defined below); (b) 3.71 million warrants entitling Sorbie to acquire additional common shares at a fixed exercise price of 32 cents and a maturity date of three years; (c) 10.29 million additional warrants entitling Sorbie to acquire additional common shares at an exercise price that is a 5-per-cent premium to the volume-weighted average price (VWAP) of the common shares for 20 consecutive trading days on a pro rata basis over a term of 24 consecutive months and a maturity date of three years. Sorbie will finance the subscription proceeds for the units in the form of cash or a portfolio of United Kingdom government bonds.

Chief executive officer Delayne Weeks commented on the Sorbie transaction: "We were looking for flexible institutional investors and Sorbie's filled that demand. While the Block VIII oil transaction advances, we want to concurrently build value in the copper and gold mineral plays and this transaction allows us to do exactly that. Also, as we anticipate the share price to increase with coming milestones, this unique deal allows us to be paid a monthly amount that also increases accordingly without the number of shares we issue increasing."

Ms. Weeks continued: "The use of proceeds as a monthly cash release of approximately $145,000 allows us to assay the existing mineral core and plan further drilling on the copper porphyry at Andong Bor and the gold prospects on Andong Meas mineral licences. Monthly allotments allows us to continue to advance our operations on all fronts, leading to planned transactions on the mineral licences in 2027." Monthly cash proceeds are expected to start 30 days after closing.

At the closing of the private placement, the parties will enter into a form of equity swap sharing agreement. The sharing agreement is supported by an ISDA Credit Support Annex totalling $3.5-million and released to Angkor in 24 equal monthly tranches with a corresponding pro rata release of the common shares and warrants to Sorbie. The sharing agreement provides that Angkor's economic interest will be determined in 24 monthly settlements as measured against a benchmark price of 31.44 cents (the benchmark price).

If, at the time of settlement, the settlement price, which is determined monthly based on the VWAP prior to the settlement date, exceeds the benchmark price, Angkor shall receive more than 100 per cent of the monthly tranche due, on a pro rata basis. There is no upper limit placed on the additional proceeds receivable by Angkor as part of the monthly settlements. If, at the time of settlement, the settlement price is below the benchmark price, Angkor will receive less than 100 per cent of the monthly tranche due on a pro rata basis. In no event will a decline in the settlement price below the benchmark price result in an increase in the number of shares being issued to Sorbie.

The common shares deposited under the sharing agreement will be subject to a voting trust agreement, which provides that Sorbie will not be entitled to any voting rights until the common shares have been released in accordance with the terms of the sharing agreement.

The warrants and additional warrants will include an equity blocker prohibiting exercise if such exercise will take Sorbie's total ownership of common shares above 9.99 per cent of the issued and outstanding common shares.

Angkor will pay Sorbie a corporate finance fee of $210,000 at closing of the private placement, which shall be satisfied in the form of units. The common shares and underlying warrants under the corporate finance fee will be subject to the terms of the sharing agreement and will be released to Sorbie on a pro rata basis over a term of 24 months.

The parties anticipate that the common shares to be issued under the units and upon exercise of the warrants and the additional warrants will not be subject to a hold period under applicable securities laws or any trading restrictions under the policies of the TSX Venture Exchange.

Closing of the private placement is subject to approval of the TSX-V and the execution by the parties of the final form of sharing agreement and other customary commercial agreements.

About Angkor Resources Corp.

Angkor Resources is a Canadian public company engaged in the exploration and development of mineral and hydrocarbon opportunities in Cambodia and other strategic jurisdictions.

We seek Safe Harbor.