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To: Goose94 who wrote (331)	1/4/2013 7:53:09 AM
From: Goose94	Read Replies (1) \| Respond to of 202922

Angkor Gold (ANK-V) to sell Oyadao tenement to All Solutions Jan 3, 2013 - News Release Angkor Gold Corp. has entered into a purchase and sale agreement with All Solutions (Cambodia) Co. Ltd., a privately held company in partnership with Chinese gold miner, Canxiang Mining Co. Ltd. (Allsol), pursuant to which Angkor has agreed to sell to Allsol all of its right, title and interest in and to a 78-square-kilometre subsection of its 300-square-kilometre Oyadao tenement in exchange for $2.4-million (U.S.). Under the agreement, it is intended that a new exploration licence covering the subsection to be sold to Allsol will be issued to Allsol and that a new exploration licence covering the remaining 222 square kilometres will be issued to Angkor. Angkor will retain 100-per-cent ownership of the new Oyadao licence, which contains other highly prospective areas of interest, including Phum Puik, Sesan North and Phum Lomh, all of which have significant gold anomalies. Highlights: Angkor secures non-dilutive financing for the 2013 exploration season by selling a subsection of the Oyadao tenement in Ratanakiri province, Cambodia for $2.4-million (U.S.). Angkor receives a renewed exploration agreement (the new Oyadao licence) for the remaining section of the Oyadao tenement, at no cost to Angkor. Angkor Gold is Cambodia's premier gold explorer with a remaining land package that includes five licences containing multiple prospects. Under the terms of the deal: Angkor retains the Phum Puik, Sesan North and Phum Lomh prospects within the new Oyadao licence, all of which have significant gold anomalies. Payment is held in escrow until issuance of both new licences, which is expected to take place within 45 days. Upon completion of the transaction, Angkor will have no residual rights or obligations under the current Oyadao licence or the Allsol licence. Mike Weeks, chief executive officer chairman, commented: "When we met with investment advisers and analysts in the fourth quarter of 2012, we made it clear that our action strategy included deal-making and that it would be our focus in the very short-term. I'm pleased to report that we've delivered on that promise; we wanted to move Angkor from a junior explorer to a company with a history of generating viable, successful mineral development projects in Cambodia. This initial transaction accomplishes just that at a value that is in line with other recent transactions we have observed in frontier opportunities. We hope to soon add to this initial success. "Completing this transaction is the right thing at this time and enables us to focus on growing into our role as Cambodia's premier gold explorer. I invite the investment community to get to know us better as we continue to create value for our shareholders by developing our multiple prospects." The transaction represents important milestones for Angkor Gold and its shareholders, which include: A significant return on exploration investment; A transaction in line with other recent deals in frontier opportunities; A transaction with a company that fully intends to move into production and which therefore will set a useful precedent for Angkor's surrounding prospects; Cash provisions in excess of Angkor's 2012 annual operating expenditures; Secured financing to continue Angkor's 2013 drill and exploration programs (see separate announcement in due course); Opportunity for Angkor Gold to focus on its other major projects. Prospects Cambodia is relatively unexplored and yet is already known to contain multiple deposits with grades that are suggestive of economic viability. The transaction with Allsol underlines this opportunity, and the participation of Allsol in Cambodia confirms that others are now recognizing the company's valuation of Cambodia's potential for gold and other mineral opportunities. Cambodia offers Angkor's shareholders an exciting advantage: Angkor acquired licences with strong histories of artisanal mining; Angkor's prospects are accessible, minable and well serviced; Angkor continues to explore efficiently, maximizing the low exploration costs. Cambodia has a stable, democratic government, a business-friendly environment and strong infrastructure in place. Angkor's midterm ambition is to self-finance its exploration activities. In Cambodia, Angkor intends to make a positive difference while rewarding its shareholders with strong value creation. Solid progress has been made over the past three years. The company is owned 24 per cent by insiders, and the management team offers the right blend of technical and business experience. Mr. Weeks further commented: "Two thousand thirteen is going to be a very exciting year for Angkor Gold. We're intending shortly to release more details on our platform for 2013 including our expanded exploration program. Our Cambodian story will continue to gain momentum. Combined with our massive land package and project generation capabilities, it would be a mistake to overlook us as the newest frontier opportunity." We seek Safe Harbor. ____________________________________________________________________________ Angkor cashes in on Cambodian project generation It has been just over a year since Vancouver-based Angkor Gold (ANK-V) went public with its stable of Cambodian exploration projects, and it is looking like the company's early-mover strategy in the developing Southeast Asian nation might be poised to take off. On Jan. 3 Angkor announced it had entered into an agreement with a partnership that includes Chinese gold miner Canxiang Mining to sell a portion of its Oyadao gold-silver property in an all-cash deal worth US$2.4 million. According to Chairman and CEO Mike Weeks, the transaction is part of Angkor's deal-making strategy that will allow the company to fund exploration on its expansive Cambodian land package with limited equity dilution. Under terms of the agreement Angkor will sell roughly 78-sq.km of its Oyadao property — which sits in northeastern Cambodia along the Vietnam border — while retaining 100% ownership in the remaining 222-sq.km of the project under a new exploration license. The updated exploration license will include Angkor's Phum Puik, Sesan North and Phum Lomh prospects. "We wanted to move Angkor from a junior explorer to a company with a history of generating viable, successful mineral development projects in Cambodia," Weeks commented. "This initial transaction accomplishes just that at a value that is in-line with other recent transactions we have observed in frontier opportunities." Angkor has drilled 68 diamond holes over 7,300 metres to date at Oyadao and identified structurally controlled quartz-carbonate veins at its Border North and Border Central targets. The company announced results from a 31-hole program at the site in July, with highlights including: 6 metres grading 4.81 grams gold per tonne from 59 metres in hole OY12-060D; and 6.65 metres averaging 2.44 grams gold from 24 metres depth in hole OY12-059D, which included a higher-grade intercept carrying 10.25 grams gold over 1.5 metres. The sale could mark the first step in Angkor’s strategy to develop a project generation model in Cambodia. The company retains a 100% stake in roughly 2,800-sq.km in the country, and spent US$10 million privately during extensive surface campaigns that included airborne magnetics, sampling and trenching on its properties. "We’re intending shortly to release more details on our platform for 2013 including our expanded exploration program," Weeks explained. "Our Cambodian story will continue to gain momentum. Combined with our massive land package and project generation capabilities, it would be a mistake to overlook us as the newest frontier opportunity.” Though drilling has been predominantly focused on the Border targets at Oyadao, Angkor has also had success in holes collared at the Phum Syarung prospect located on its Oyadao South tenement. The company released results from drilling at the target in late September, and Weeks explained that Phum Syarung is now a priority for Angkor going into the 2013 field season. Highlights from discovery holes at Phum Syarung include: 4 metres grading 16.65 grams gold and 17.4 grams silver from 60 metres depth in hole PS12-018D; 3.25 metres averaging 6.67 grams gold from 105 metres in hole PS12-013D; and 3.3 metres grading 5.07 grams gold from 91 metres in hole PS12-016D.