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Angkor Gold Corp. Reports Another Achievement for Its 2012 Sustainable Community Development Program

VANCOUVER, British Columbia, Dec. 27, 2012 (GLOBE NEWSWIRE) -- ANGKOR GOLD CORP. (TSX-V:ANK) ("ANGKOR") is pleased to announce the delivery of a third medical supply container in 2012 as part of its growing Sustainable Community Development program in Cambodia. The container arrived at its destination in Pursat Province, eastern Cambodia on December 7th, 2012 and was met by a welcoming committee composed of staff, government representatives, and Angkor's CEO and VP Corporate Social Responsibility, Mike and Delayne Weeks. The celebrations were held on December 22nd, 2012 and over 1000 people attended to thank us; including provincial and federal government representatives, local TV and newspapers.

The 9 tonnes of medical supplies delivered include medicine and surgical materials to support 8 health centres and the province's referral hospital. Also supplied were 8 birthing beds / examination tables, an infant incubator, electrocardiogram equipment (ECG), and a full dental suite with chair, lights, x-ray, etc. Pursat has a population over 400,000; the infant incubator, ECG and dental suite are described as premier assets in the province. Angkor's team undertook a "needs assessment" in May 2012 and then worked with its partner, International Hope Canada, to organise the shipment of the container from Winnipeg, Canada in October, 2012.

Mike Weeks, Angkor's CEO, was present and commented:

"Our Sustainable Community Development program is the third strand of our ACTION strategy. It is a key part of our social licence to operate. The medical equipment and supplies within these shipments are accomplished by a successful partnership between Angkor and International Hope Canada (IHC) – an amazing group of volunteers that really is one of Canada's best kept secrets. I'd like to thank them and the Angkor team for another outstanding operation.

"There's a Socially Responsible Investment community actively seeking excellent value creation opportunities operating in an ethical and sustainable way. That's Angkor's mission. That's also my message to our shareholders and the wider investment community: we've a first mover advantage in a frontier opportunity and we're making a difference; it's only going to get better as we grow into our role as Cambodia's Premier Gold Explorer."

Cambodia has a number of priorities in its National Health Strategic Plan including improving maternal health, reducing child mortality and reducing common communicable diseases such as tuberculosis. Delivery of medical supplies is a key objective of the World Health Organisation's country cooperation strategy that will help Cambodia meet its priorities. Angkor has a Sustainable Community Development program designed to work within the frameworks set by these and other internationally-recognised organisations and initiatives.

An overarching aim for Angkor is to undertake socially responsible exploration. Throughout 2012, Angkor's Sustainable Community Development program focused on community safe water and health, community food security and community organisation.

Delayne Weeks, Angkor's VP Corporate Social Responsibility, explained, "We have achieved a considerable amount in the short time we've been operating in Cambodia but there is still a great deal to do. Some of the communities we are working with are amongst the poorest in this developing nation. When many children under the age of 5 are dying through common illnesses attributable to basic health, nutrition and sanitation, you have to start with the basics and build from there. Angkor's team is highly experienced and committed to working with the local communities to help them develop sustainable solutions. I look forward to releasing our first Sustainable Community Development Report in the first quarter of 2013, which will show what we're doing, how we're doing it, for what cost and for what benefits."

ANGKOR GOLD CORPORATION is a public company listed on the TSX-Venture exchange. It is Cambodia's premier gold explorer with a significantly large land package and a first-mover advantage with excellent relationships at all levels (local to national).

Cambodia offers Angkor's shareholders an exciting advantage: It is relatively unexplored but has a well known history of artisanal mining; Angkor's prospects are accessible, mineable 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, ethical value creation.

Angkor currently has multiple prospects focusing on 3 major projects: "Border", "Phum Syarung" and "Okalla". Solid progress has been made on each over the past 3 years. 24% of the company is owned by insiders, and the management team offers the right blend of technical and business experience.

The company has 5 exploration licenses in the Kingdom of Cambodia covering a total of 1180 km2, and 3 Memoranda of Understanding with the Ministry of Mines, Industry and Energy covering a further 1499 km2. The company has been actively exploring these concessions over the past 3 years, and has now covered all tenements with stream sediment geochemical sampling, has flown low level aeromagnetic surveys over much of the ground, drilled 17,556 metres of NQ core in 143 holes, of which 8,815m in 66 holes were drilled in the 2012 season; and has collected in excess of 20,000 'C' zone soil samples in 8 centres of interest, over a combined area of 20km2, in addition to numerous trenches and detailed geological field mapping. Exploration on all tenements is ongoing.

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Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded on the basis of expectations and assumptions made by the Corporation. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, Cambodia, the United States and globally; industry conditions, including fluctuations in the prices of gold and other base metals; governmental regulation of the mining industry in both Canada and Cambodia, including environmental regulation; unanticipated operating events or performance which can reduce production or cause production to be delayed; failure to obtain industry partner and other third party consents and approvals, if and when required; competition for and/or inability to retain mining equipment and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in mining operations; competition for, among other things, capital, undeveloped lands, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, drilling, processing and transportation problems; changes in tax laws and incentive programs relating to the mining industry; failure to realize the anticipated benefits of acquisitions and dispositions; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

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CONTACT: ANGKOR GOLD CORP. Delayne Weeks, VP Corporate Social Responsibility Telephone: (780) 831-8722 Email: da@angkorgold.caSource:Angkor Gold Corp.