Ms. Delayne Weeks reports

ANGKOR RESOURCES IDENTIFIES COPPER DRILL TARGETS ADJACENT TO CANADA WALL COPPER PORPHYRY PROJECT, CAMBODIA

Angkor Resources Corp. has completed a 20-line-kilometre induced polarization geophysical survey -- an electrical method that highlights metal-bearing rocks beneath the surface -- over the Gossan Hills copper-iron target on its Andong Meas mineral exploration licence in Ratanakiri province, Cambodia. The survey, announced on March 31, 2026 (see Angkor Resources undertakes IP survey over copper/iron skarn adjacent to Canada Wall copper porphyry target, Andong Meas licence, Cambodia), has resulted in several chargeability anomalies, which correspond with ground magnetic features and soil copper geochemical anomalies. Three of these targets will be tested by diamond drilling. A 1,100-metre diamond drill program is being initiated to test these new targets.

Dennis Ouellette, vice-president, exploration, commented: "These IP results are what would be expected from an IP survey over a copper porphyry with an adjacent skarn zone."

New drill targets and next steps

Two priority areas have been identified:

• The Northern target -- where the underground electrical signature crosses into the southern edge of the Canada Wall copper target. This may image the direct connection between the copper-rich end of the Gossan Hills zone and the Canada Wall copper system itself.
• The Line 6 target -- where the underground electrical signature, surface magnetite and zinc-lead in soils all line up. This defines a separate, zinc-lead target on the same mineralized trend.

To test these targets, the company is initiating a 1,100-metre diamond drill program. Drill collar locations and angles are being finalized based on the size, depth and shape of the underground targets imaged by the IP survey. Drilling is the next step in advancing Gossan Hills toward defining the size and grade of a potentially significant copper-zinc-lead system on the Andong Meas licence.

IP survey results

The 20-line-kilometre IP survey was completed across eight 2,500-metre lines using a dipole-dipole electrical configuration. The data were modelled into 2-D cross-sections of the subsurface that highlight the presence of metal-bearing minerals at depth -- the type of minerals that host copper, zinc and lead.

The survey clearly mapped the Gossan Hills mineralized zone and was strongest on the northernmost line, which also crossed the southernmost portion of the Canada Wall copper target. The strongest surface soil copper anomaly along the Gossan Hills trend lies 500 metres west of the Canada Wall copper target, and the IP results indicate that the underground signature continues at depth eastward -- toward the deep magnetic high outlined by the company's 2022 ground magnetic survey.

A second underground signature on the east end of Line 6 coincides with an area where abundant magnetite was noted at surface. This area is also marked by anomalous lead and zinc in soils -- a chemical fingerprint consistent with the more distal, zinc-lead-rich edge of a copper porphyry system.

Gossan Hills: target geology (recap)

The Gossan Hills consists of a northwest-trending body of carbonate-rich layered rocks that have been baked and reshaped by heat and pressure. These rocks are highly reactive to the metal-bearing fluids associated with copper porphyry systems. They form a wide downward-arching fold -- a syncline -- into which the intrusive complex hosting the Canada Wall copper target has pushed up from below.

The result is a skarn -- a mineralized zone formed when hot, metal-bearing fluids from an intrusion react with the surrounding carbonate rocks, depositing ore minerals as they go.

As Mr. Ouellette has previously described it: "The Gossan Hills skarn is several hundreds of metres long and geochemically graduates from iron oxide (goethite, limonite) at the southern, more distal end to massive magnetite, then zinc-lead and finally more copper-rich at the northern, more proximal end."

This natural ordering of metals from iron through zinc-lead to copper is a classic indicator of a well-developed, potentially economic mineralized system.

These rock layers tilt about 35 degrees eastward, toward a deep, strong magnetic signature outlined by the 2022 ground magnetic survey. This geometry -- surface mineralization tilting toward a strong magnetic feature deep underground -- is consistent with a copper porphyry model and provided the original reason for undertaking the IP survey.

Institute of Technology of Cambodia partnership update

The data interpretation phase of the IP survey was carried out in collaboration with the Institute of Technology of Cambodia, with one ITC student using the survey results as the basis of a fifth-year thesis. This continues the partnership between Angkor and ITC announced with the survey commencement and supports the company's continuing commitment to building Cambodia's national capacity in applied geophysics alongside its exploration activities.

Qualified person

Mr. Ouellette, BSc, PGeo, is a member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA No. 104257) and a qualified person as defined by National Instrument 43-101. He is the company's VP, exploration, on site, and has reviewed and approved the technical disclosure in this document.

About Angkor Resources Corp.

Angkor is a public company, listed on the TSX Venture Exchange, and is a leading resource explorer and developer in Cambodia working toward mineral and energy solutions across Cambodia. The company's mineral subsidiary, Angkor Gold Corp. Co. Ltd., currently holds two mineral exploration licences in Cambodia with multiple prospects in copper and gold. Both licences are in their first two-year renewal term.

Angkor's Cambodian energy subsidiary, EnerCam Resources Co. Ltd., was granted an onshore oil and gas licence in the southwestern quadrant of Cambodia called Block VIII. The original 7,300-square-kilometre licence was reduced to approximately 4,300 square kilometres upon voluntary removal of parks and protected areas, subsequently adjusted through government remapping directed by the Ministry of Mines and Energy, and then expanded by 220 square kilometres with the addition of the Kirirom basin in the northeast, resulting in the current area of approximately 4,095 square kilometres.

EnerCam is actively advancing oil and gas exploration activities onshore to meet its mission to prove Cambodia as a nation with its own oil and gas resources. The company completed 2-D seismic in 2025 and has identified multiple drill targets with multiple target zones. As it works to complete an additional environmental impact assessment on the drilling target areas, the company plans to follow with drilling Cambodia's first privately financed onshore exploratory oil and gas wells under a production-sharing contract.

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