Angkor Gold Corp. announced that it has entered into a definitive joint-venture agreement with Mesco Gold Ltd. on its Oyadao North Concession, Ratanakiri Province, Cambodia. The new agreement is the second between ANGKOR and MESCO.

It expands mineral rights for MESCO revises an already existing net smelter royalty (NSR) that ANGKOR holds on MESCO's Phum Syarung Gold Mine and allows ANGKOR to focus on its core prospects. The JV Agreement adds to MESCO's current land holdings in the region which includes the soon-to-be-operating Phum Syarung Gold Mine that is scheduled to begin mining in 2016. The JV Agreement on the Oyadao North Concession provides MESCO with the rights to explore the entire licence for minerals and, if deemed warranted, bringing a portion into commercial production by establishing and operating a mine.

MESCO agrees to spend USD 1,250,000.00 on exploration. ANGKOR will maintain a 15% free-carried interest on the Oyadao North license without incurring any financial obligations related to the maintenance of the licence and future exploration/mining programs. Under the JV agreement, ANGKOR and MESCO have renegotiated the existing net smelter royalty (NSR) agreement on the Phum Syarung minesuch that the new NSR for gold will be at 2.0% while the price of gold is less than USD 1,000.00 and will increase 0.25% for every USD 50.00 that the gold price exceeds USD 1,000.00 to a maximum of 7.5%. For all other minerals, a 7.5% NSR will be paid.

ANGKOR's 2016 work program has a primary focus on Okalla West, Halo and Koan Nheak.