A Change of Guard

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Monday 5 December 2011

Angkor Gold Corp.: News Release

ANGKOR GOLD CORP. ("Angkor" or the "Company") (TSX VENTURE:ANK) is pleased to announce results that have been received from the first 2 deeper (~300m) holes (BL11-026 and BL11-027) drilled in the Okalla prospect, Banlung Tenement in Ratanakiri province, Cambodia. Completion of these 2 holes on Okalla marks the 26th and 27th diamond drill holes and a total of 2832 m drilled to date on the Banlung tenement. The target is a large copper-gold porphyry system, which these holes appear to confirm. With the monsoon season the program was suspended and will resume later this year.

These holes were drilled to investigate the alteration zone in a diorite that is associated with a 'C' zone soil geochemical gold-copper-molybdenum anomaly on the prospect. The anomaly is at least 500m across, and coincides with a magnetic high that is roughly 2000m along its longest, northwest, axis and about 800m wide.

To view the map associated with this release, please visit the following link: http://media3.marketwire.com/docs/1024wf_map.jpg.

The geochemical anomaly terminates to the north against an overlying Quaternary flood basalt flow. An extension to the geochemical survey shows a further gold-copper soil anomaly about 1km to the northeast, beyond the basalt ridge. The accompanying map shows the location of these two holes in relation to the gold anomalies overlain on the simplified geology.

Both holes were drilled at an inclination of -60° towards azimuth 360° with triple tubing, starting at HQ calibre down to 50m and thereafter at NQ3 for the remainder of the hole (300.2m). Hole BL11-026 remained in medium to coarse grained grey to brown-grey granodiorite to quartz- and hornblende-diorite for almost the entire length, with minor more acid to intermediate dyke intrusions and occasional faulting. The entire hole shows strong clay alteration with numerous intersections of calcite and quartz micro-veinlets and ultra-fine grained disseminations and hairline fracture fillings of sulphides, generally pyrite but with common chalcopyrite. These features are common in porphyry systems elsewhere in the world. Hole BL11-027 shows much the same lithology and mineralization, although chalcopyrite content seems to diminish after ~250m, but pyrite content appears to remain constant.

The table below depicts the more important values returned.

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