Angkor Resources Completes Evesham Oil and Gas Asset Sale, Eliminates Debt and Focuses on Cambodian Projects

Angkor Resources Corp. has completed the sale of its 40% participating interest in the Evesham Macklin oil and gas lands in Saskatchewan, with all final payments received and deposited into the company's accounts. The transaction, which received conditional approval from the TSX Venture Exchange, involved the disposition of assets at a purchase price of $4,800,000 to an arm's length party, 2196231 Alberta Ltd. All payments under the agreement have now been received, including a $250,000 non-refundable deposit paid on December 19, 2025, a payment of $375,000 paid on January 30, 2026, the balance of the loan of $3,800,000 applied to the purchase price on closing, and a final payment of $375,000 received on March 1, 2026.

The strategic sale removed $3,800,000 in debt from the company's books and provided Angkor Resources with $1,000,000 in net proceeds. Shareholder approval for the disposition was obtained at the Annual General and Special Meeting of Shareholders held on January 29, 2026, where over 99% of the votes cast were in favor of the transaction. As previously announced (ANGKOR RESOURCES SIGNS DEFINITIVE AGREEMENT TO SELL EVESHAM OIL PRODUCTION - Angkor Resources Corp, January 5, 2026), the company's wholly-owned subsidiary, EnerCam Exploration Ltd., entered into an Agreement of Purchase and Sale dated December 31, 2025 with the purchaser for the disposition of the assets.

CEO Delayne Weeks stated that the successful closing of the Evesham disposition eliminates $3,800,000 in debt and provides the company with additional working capital. The company can now focus resources and efforts on advancing its Cambodian onshore Block VIII oil and gas project and mineral exploration programs, which represent the highest potential for growth and value creation for shareholders. Weeks emphasized that discovering oil and gas in Cambodia as a new jurisdiction would bring energy independence to the entire nation, significantly reduce imports of hydrocarbon-based energy, and develop significant new skillset development and employment opportunities.

The company's Cambodian energy subsidiary, EnerCam Resources, holds an onshore oil and gas license of just over 4095 square kilometers in Block VIII. Having completed seismic in 2025, the company has identified multiple drill targets and is advancing an Environmental Impact Assessment and drilling plans for Cambodia's first onshore oil and gas exploratory wells. Meanwhile, the company's mineral subsidiary, Angkor Gold Corp., holds two mineral exploration licenses in Cambodia with multiple prospects in copper and gold, both in their first two-year renewal term.

The transaction represents a significant strategic shift for Angkor Resources as it reallocates capital from mature Canadian assets to higher-potential exploration projects in Cambodia. The debt elimination strengthens the company's financial position while the net proceeds provide working capital to advance exploration activities in Southeast Asia. This move aligns with the company's stated mission to prove Cambodia as an oil and gas producing nation while continuing to develop mineral resources in the region.