Angkor Announces Ground-breaking Agreement with Indigenous Communities

Toronto, May 4, 2021 - Angkor Resources Corp. (TSXV: ANK) (OTC Pink: ANKOF) ("Angkor" or "the Company") CEO Stephen Burega is pleased to report Angkor's ground-breaking collaborative engagement with the Indigenous communities on the Andong Meas license. The agreement covers exploration through mining and also includes reclamation.

Angkor is committed to providing expertise, employment, education and training in various skillsets which also supports the development of mineral projects on the Andong Meas license.

Highlights of the Agreement

• This agreement paves the way for community, industry, government, and civil society to implement a realistic model to benefit Indigenous communities and advances ethical development in the country.
• The communities have outlined their needs and priorities, regarding culture and traditions, livelihoods, and the land rights of the Indigenous Jarai villages.
• Angkor has agreed to provide technical assistance and education, capacity building, surveying and mapping, and border identification for communities to pursue a communal title on their traditional lands.
• Angkor also has agreed to prioritize the hiring of a local community workforce and to provide relevant training in support of the exploration and future mining activities of the company.
• Stakeholders agreed to collaborate to promote value-added businesses and to guide small enterprise skills such as personal finance, managing credit, and budgeting.
• Angkor continues to acknowledge the growing importance of ESG (Environment, Social and Governance) principles as a key to driving its business forward, and ensuring the viability of its future mining assets.

"Land rights continue to be a top priority for the Indigenous peoples and their communities in rural Cambodia. This first-of-its-kind template between a mineral company and these communities in the area illustrates Angkor's strong commitment to social governance for the benefit of all parties," stated Stephen Burega. "By implementing the UN's guidelines and Sustainable Development Goals, Angkor sets an example of how communities and companies can work together, manage expectations, protect the environment, and improve local governance and skills at each stage of the mining cycle."

"This agreement allows the Indigenous people and communities to build a way forward, to sustainability, and an economic advantage. To my knowledge, this agreement is the first of its kind in Cambodia and represents the culmination of our efforts in Asia for ethical development in the extractive sector, from the start to the finish. Angkor is pleased to work with Indigenous community members to realize positive economic, environmental, and social benefits for all involved," stated Mike Weeks, Angkor's Executive Chairman.

"Angkor has always taken the position to use ESG principles early on in developments and projects, and to meaningfully collaborate with the local communities to create benefits and solutions. We have, from the start, paralleled social development with our exploration activities. It is not charity; nor is it philanthropy, but instead represents good, solid ethical business. Creating and formalizing this agreement is a milestone moment; it supports the development of healthy, economic opportunities and benefits all stakeholders. For Angkor, it has been about working with the local Indigenous people, and setting the example that may become the national standard, and that is a win for everyone," says Social Development Manager, Delayne Weeks.

Mike Weeks exchanging signed agreement with Tang Se village leaders

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Signature page of agreement signed by village leaders and Mike Weeks representing first-of-its kind collective agreement.

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Signature ceremony at WB camp with Mike Weeks and leaders from four Indigenous villages on the Andong Meas license.

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ABOUT ANGKOR RESOURCES CORP.
Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading mineral explorer in Cambodia with a large land package across four 100%-owned licenses and a fifth license under an earn-in agreement with a third party. In 2020, the company received approval and initiated negotiations on Production Sharing Contract (PSC) terms for Block VIII, a 7,300 square kilometre oil and gas license in Cambodia.

CONTACT:
Stephen Burega, CEO
Telephone: +1 (647) 515-3734
Email: sb@angkorgold.ca
Website: http://www.angkorgold.ca or follow us on Twitter @AngkorGold.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company's properties, the prospective nature of any claims comprising the Company's property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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