UBC'S Mineral Deposit Research Unit Confirms Epithermal Mineralization at Angkor’s Otray Prospect

Grande Prairie, Alberta -- (Newsfile Corp. - November 7, 2014) - A research program on the Otray prospect funded by Angkor Gold Corp. (TSXV: ANK) (“ANGKOR”) at the Mineral Deposit Research Unit of the University of British Columbia, has confirmed the presence of polymetallic epithermal mineralization on the company’s Oyadao South tenement in Cambodia. Mineralization was initially discovered in the Otray prospect area with a termite mound geochemical survey in 2012 (see Press Release dated 2013 May 29), following up on regional mapping, stream sediment sampling, and an aeromagnetic survey that indicated a prospective structural zone south of the Phum Syarung gold project.

The project has utilized surficial mapping techniques, short wave infrared spectroscopy (SWIR), termite mound geochemistry, ‘C’ zone soil geochemistry, structural analysis, geochronology, and petrography. The final goal of the research to is to understand the genesis, timing, and the geochemical signature of the deposit to guide further exploration in the region.

Coinciding with the base metal geochemical anomaly in Otray, a series of stacked quartz veins with disseminated sphalerite, galena, and pyrite were discovered during the last field season. Three veins have been discovered to date, with quartz float blanketing the area surrounding the termite geochemical anomaly. Potentially, the mineralized quartz veins could span the entire 2.5 km strike length of the geochemical anomaly. Rock chip geochemistry from the area shows some exciting values of base and precious metals:

Sample	Description	Au	Ag	As	Mo	Pb	Zn
		ppm	ppm	ppm	ppm	ppm	ppm
V022001	Crustiform quartz vein.	7.96	3.6	2	nd	35	8
V022003	Crustiform quartz vein float.	2.65	0.8	10	3	174	10
1568888	Vuggy quartz vein in siltstone.	2.44	2.4	17	12	34	9
1604569	Brecciated volcaniclastic with quartz veins.	1.46	79.6	21	29	23	47
1567942	Vuggy quartz vein with ex-sulphides.	1.05	34.8	32	64	1920	39
1568893	Vuggy quartz vein.	0.96	184.0	9	32	6390	24
1568894	Vuggy quartz vein.	0.76	139.0	3	6	7090	35
V021991	White quartz vein with sphalerite blebs.	0.23	7.8	9	6	488	33300
1567933	Quartz-vein in siltstone.	0.20	25.2	4	22	7280	66
1635443	Quartz vein with abundant fine pyrite.	0.12	3.9	24	42	273	6300
1635441	Altered and brecciated andesite with sulphide	0.06	0.5	611	333	44	7
1567928	Silicified and brecciated vuggy quartz-vein.	0.04	1.6	3	77	4080	27
1635450	Silicified granite cut by quartz veinlets.	nd	2.4	3	319	1485	21
1635451	Silicified volcanic rock with ex-sulphide.	nd	0.9	nd	573	1000	16
The symbol ‘nd’ signifies not detected.

SWIR analysis of grab samples from the field has indicated that the geochemical anomaly is surrounded by argillic alteration (kaolinite, dickite, illite) with advanced argillic alteration (Na-alunite, diaspore, dickite, halloysite, pyrophyllite, jarosite, and vuggy silica) to the west, and isolated pods of phyllic alteration (pyrophyllite and sericite). Advanced argillic alteration was encountered along with highly silicified lithocap material and the majority of the hills to the west of the Otray prospect area. Accordingly, a reconnaissance IP program of 4 lines is planned for 2015, with a view to designate three or more drill targets for the latter part of the dry season.

“The surface data collected in the Otray prospect over the past two seasons continues to create a beautiful picture of the exposed portions of this well-mineralized system,” says Craig Richardson, the Otray Project Geologist. “The geophysics program planned for the upcoming field season will produce our first images of the prospect in the third dimension and put us one step closer to drilling.”

The rock samples were analyzed for base metals by ICP-MS after 3 acid digestion and for gold by standard fire assay by ALS-Chemex. Angkor’s QA/QC protocol required semi-random insertion of calibration standards and blanks at a rate of 10 per 100.

The QP for this release, which he has read and approved, is Dr. Adrian G. Mann, P.Geol., VP Exploration for ANGKOR.

ANGKOR’s 7 exploration licences in the Kingdom of Cambodia cover 1448 km², which the company has been actively exploring over the past 5 years. The company has now covered all tenements with stream sediment geochemical sampling; has flown low level aeromagnetic surveys over most of the ground; drilled 18,737 metres of NQ core in 148 holes; and has collected in excess of 20,000 augered ‘B’ and 'C' zone soil samples and 55,000 termite mound samples in 17 centres of interest, over a combined area of 85km², in addition to numerous trenches and detailed geological field mapping. Exploration on all tenements is ongoing.

Angkor Gold Corp., a public company listed on the TSX-Venture Exchange, is Cambodia's premier gold explorer with a significantly large land package and a first-mover advantage with excellent relationships at all levels of Government (local to national).



FOR FURTHER INFORMATION PLEASE CONTACT:

Angkor Gold Corp.
Mike Weeks, President
Telephone: (780) 568-3801
Email: mw@angkorgold.ca



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