Gravity Survey Results Highlight Potential for a Large, Intrusive-Related Gold System

VANCOUVER, BC—(Marketwired – November 23, 2016) – Angkor Gold Corp. (TSX VENTURE: ANK) (OTC PINK: ANKOF) (“Angkor” or “the Company”) is pleased to announce results from a recent gravity survey conducted along 30 line kms over the Banlung Mafic Intrusive Complex, including the Okalla West surface gold zone in joint venture with Blue River Resources Ltd. (TSX VENTURE: BRX). The Okalla West surface gold zone is within the Company's 150 km2 Banlung Exploration Tenement, Cambodia.

The gravity survey indicates a gravity anomaly, which may be interpreted as a felsic intrusive body, located directly beneath the previously delineated 4 km2 Okalla West surface gold anomaly. The encouraging gravity results, combined with surface gold anomalism, indicate the potential for a large, sub–surface, Intrusive Related Gold system (IRG) in the Okalla West prospect zone.

Drilling and Trenching Plans for Okalla West

The next phase of exploration planned on the Okalla West Gold zone will consist of trenching and drilling to further investigate how robust the prospect is in light of the new ground gravity results, and the potential it has to host near–surface and at depth gold mineralization. The trenching and drilling will further investigate the extensive surface gold anomaly identified by termite mound sampling and confirmed by shallow auger testing.

The next program will test the depth potential for the presence of a sub–surface IRG system, at the same time further constraining the boundaries of the surface gold anomalism.

The planned trenching will consist of 5 lines spanning the current known anomaly (see accompanying gold index anomaly contour map). The Company also plans a 2,000 to 4,000m Reverse Air Blast (RAB) drilling program designed to test the surface gold anomalies within the regolith profile to blade refusal depth, which will also establish the depth to bedrock for future exploration diamond drilling. The previous auger program explored only a fraction (0.67 km2) of the 4 km2 surface gold anomaly area and did not penetrate the regolith profile to bedrock.

Previously BETEC geophysical company surveyed 4 lines, totalling 30 line kilometres over the Banlung Mafic Intrusive Complex, in which the Okalla West Prospect is located, as shown in the maps accompanying this press release and available on the Company's website.

A gravity low, complex structure and large visible gold surface anomaly in the same overlapping area, within the Mafic Intrusive Complex, are all good indicators for the Okalla West prospect to host a felsic, Intrusive Related Gold system (IRG), at depth.

The QP for this release, which he wrote and approved, is Kurtis Dunstone, BSc Geology, Senior Project Manager for ANGKOR. Mr. Dunstone has fifteen years post graduate mining and global exploration industry experience, across Australia, Canada, Papua New Guinea and Cambodia, and is a current member of the Australian Institute of Geoscientists.

ABOUT ANGKOR GOLD CORP.

Angkor's QA/QC protocol requires calibration standards and blanks be inserted at a rate of 10 per 100. In addition, periodic checks are run on a selected spectrum of samples at ALS laboratories. All soil and rock samples were submitted to ALS preparation laboratories in Phnom Penh, and gold analyses were done by ALS by standard fire assay in their Vientiane laboratories; all other analyses were by ICP–MS in their Australian laboratories.

ANGKOR's six exploration licenses in the Kingdom of Cambodia cover 1,352 km2, which the company has been actively exploring over the past 6 years. The company has now covered all tenements with stream sediment geochemical sampling and has flown low level aeromagnetic surveys over most of the ground. Angkor has diamond drilled 21,855 metres in 190 holes, augured 2,643 metres over 728 holes, collected over 165,000 termite mound samples and 'B' and 'C' zone soil samples in over 20 centres of interest over a combined area of more than 140km2, in addition to numerous trenches, IP surveys and detailed geological field mapping. Exploration on all tenements is ongoing.

ANGKOR Gold Corp. is a public company listed on the TSX–Venture Exchange and is Cambodia's premier mineral explorer with a significantly large land package and a first–mover advantage building strong relationships with all levels of government and stakeholders.

BLUE RIVER RESOURCES LTD.

Blue River Resources Ltd. has a 100% interest in two mineral properties in the Quesnel Trough Copper Belt, The Castle Copper Project near the Copper Mountain Mine, Princeton, BC and the Mazama Copper Deposit, Okanogan County, Wa.

Blue River has the right to participate initially in up to a 50% interest of the Banlung exploration license from Angkor Gold Corp., after the completion of a total investment of US$3.5 million in exploration expenditures over a 4–year period. Blue River may then exercise their option on an additional 20% interest of the Banlung tenement through the commission and completion of a bankable feasibility study on the property or portion thereof.

Visit our website at: http://www.angkorgold.ca or follow us @AngkorGold for all the latest updates.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain of the statements made and information contained herein may constitute “forward–looking information”. In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward–looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward–looking information, whether as a result of new information, future events or otherwise.

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BioteQ Reports Q3 2016 Financial and Operating Results

VANCOUVER, BC—(Marketwired – November 23, 2016) – BioteQ Environmental Technologies Inc. (TSX VENTURE: BQE), a leader in the treatment of mine impacted waters, releases its financial and operating results for the third quarter ended September 30, 2016. Further information on the quarterly results can be obtained from the Company's Q3 2016 Interim Consolidated Financial Statements and Management's Discussion and Analysis (“MD&A”).

To ensure clarity and comparability with historic results, certain statements in this news release and in the MD&A are characterized as BioteQ's “proportional” share, which means the effective portion of results that BioteQ would have reported if each of its joint ventures had been reported in accordance with past accounting standards. For further details, please see “Non–GAAP Financial Measures” in the Company's Q3 2016 MD&A.

Q3 and Year–To–Date 2016 Financial Results
The Company reported the following results for the third quarter:

  • Revenues as reported under GAAP were $1.3 million compared $1.6 million in Q3 2015. Year to date, revenues were $2.4 million, consistent with the prior year;
  • Proportional revenues were $2.4 million compared to $3 million in Q3 2015. Year to date, Proportional revenues were $6.1 million, consistent with the prior year;
  • Net income as reported under GAAP was $117,000 compared to $279,000 in Q3 2015;
  • Adjusted income before interest, tax, depreciation and amortization (“adjusted EBITDA”) was $414,000, marking a second consecutive quarter of positive adjusted EBIDTA;
  • Adjusted EBIDTA of $414,000 was virtually unchanged from 2015. Year to date, adjusted EBITDA was a loss of $102,000; an improvement over the prior year's loss of $119,000. The improvement is despite a 14% drop in copper prices compared to 2015.
  • Proportional revenue and adjusted EBIDTA are highly sensitive to changes in copper prices. Despite the decline in copper prices, BioteQ was able to improve total copper recovery and reduce its average cost per pound;
  • Cash and cash equivalents reported under GAAP as of September 30, 2016 was $1.8 million compared to $1.4 million at December 31, 2015; and
  • Proportional cash and cash equivalents and short term investments, which includes our share held in joint ventures, as of September 30, 2016 was $3.2 million compared to $2.1 million at the end of 2015.

Financing
During the quarter, BioteQ completed a convertible loan (“Loans”) for gross proceeds of $1.5 million. The Loans are secured and bear interest at a rate of 8% per annum. Upon repayment of the Loans, each lender may elect to convert all or any portion of the repaid principal into BioteQ common shares at a conversion price of $0.06 cents per share.

The proceeds of the Loans will be used to fund general operating expenses and ensure BioteQ has the financial resources to continue executing on its longer term growth strategy.

Water Treatment Operations

  • During the quarter, BioteQ continued its 13th season of water treatment operations at the Raglan Mine site in Quebec. During the quarter, BioteQ treated 715,000 cubic metres of water. In mid–November, BioteQ completed water treatment services for the season. BioteQ is currently discussing an extension to the operating contract; and
  • BioteQ's joint venture in China with partner Jiangxi Copper Company (“JCC”) operated three plants during the quarter. Two of the plants are located at the Dexing Mine site and the third at the Yinshan Mine site. Both mine sites are owned by JCC. The joint venture treated a total of 4.8 million cubic metres of water and recovered 891,000 pounds of copper from all three plants during the quarter.

Sales and New Technology Development
The following is an update on key sales opportunities in progress:

Design, Construction, and Commissioning Services
In Q3 2016, BioteQ continued providing services for a water treatment plant at the Silvertip project in Northern BC.

Consulting
During the quarter, BioteQ continued to provide consulting services to several mining projects in Canada, Asia, Europe, and Latin America. The services covered a broad spectrum of activities including permitting support, development of site specific water management strategies, and various stages of water treatment assessment for the removal of metals, sulphate, and selenium. BioteQ expects that these activities will continue over the next several quarters and may lead to new activities as water management measures proceed to implementation.

Zinc and Copper Recovery – Joint Venture
BioteQ completed its detailed technical and economic assessment of a new treatment plant to be installed at an active smelter in China. The proposed new treatment plant has completed environmental permitting and BioteQ is working closely with a potential new partner on forming a joint venture to deliver the treatment plant for the smelter under a Build–Own–Operate business model. Once final terms are agreed upon, BioteQ expects to commence construction in Q1 2017 and to begin commissioning and operations in late 2017. Under current terms being negotiated, BioteQ expects to receive a fixed–fee, technical support contract and an ongoing share of the profits from the operation.

Selen–IX™ Pilot Operation
Subsequent to the end of Q3, BioteQ secured a contract with a Canadian resource company for a pilot scale demonstration and evaluation of its Selen–IX™ technology to remove selenium from mine impacted water. The pilot follows a successful laboratory campaign completed earlier in the year directly at the client's site and will utilize BioteQ's existing mobile Selen–IX™ pilot plant. The objectives of the pilot campaign are to: demonstrate selenium removal to reach discharge targets on a continuous basis, generate design criteria for a full scale plant, and develop a preliminary capital and operating cost estimate. The pilot campaign is expected to be completed by the end of this year and results will be reviewed with the customer in early 2017 to determine the advancement of the project. The total value of the contract is comparable to past pilot campaigns.

Q3 2016 COMMENTARY AND 2016 OUTLOOK
BioteQ's results for the first nine months of the year reflect continuing positive changes to the company coinciding with a further drop in the price of copper and continued challenging environment for the resource industry globally. Specifically, the company achieved:

  • a second consecutive quarter of positive adjusted EBIDTA;
  • adjusted EBIDTA improvement over 2015 despite a 14% drop in copper prices compared to 2015; and
  • significant contracts booked for Q4 2016 and Q1 2017 that are expected to generate higher revenue and cash flow than comparable, prior year quarters.

So far this year, BioteQ has won new contracts for a broad range of water management and water treatment services. Furthermore, Q3 2016 financials do not reflect any of the “booked” revenue resulting from these small contracts that will contribute to revenues in the next few quarters including the new selenium pilot project announced in October 2016. Based on this, the management expects that the year end 2016 results will bring a significant improvement over 2015 and the current sales pipeline will help improve performance further in 2017.

Q3 2016 Financial Highlights Summary
For a complete set of Financial Statements and Management Discussion and Analysis, please go to www.bioteq.ca

         
(in $'000 except for per share amounts)   3 months ended. Sep. 30   9 months ended. Sep. 30
    2016   2015   2016   2015
    $   $   $   $
Revenues   1,356   1,620   2,390   2,418
less: Plant and other operating costs (excluding depreciation)   494   740   1,078   1,520
    862   880   1,312   898
                 
General and administration   410   472   1,301   1,454
Sales and development   356   248   973   899
Stock–based compensation   30   1   76   (18)
Depreciation and amortization   60   57   176   164
Share of results of equity accounted joint ventures   (160)   (55)   (351)   (581)
Income (loss) from operations and joint ventures   166   157   (863)   (1,020)
                 
Finance income, net   (56)   (8)   (54)   34
Foreign exchange gain (loss)   7   14   (1,435)   41
Bad debt recovery     116   7   268
Net income (loss) for the period   117   279   (2,345)   (677)
Translation gain on foreign operations   22   287   1,048   691
Comprehensive income (loss) for the period   139   566   (1,297)   14
                 
Net loss per share (basic and diluted)   0.00   0.00   (0.02)   (0.01)
                 
Proportional Revenues1   2,411   3,010   6,066   6,226
Adjusted EBITDA1   414   496   (102)   (119)
                 
        at Sep. 30   at Dec. 31   at Sep. 30
        2016   2015   2015
Working capital       1,103   871   35
Total assets       7,825   7,451   9,420
Total long term liabilities       1,358   9   11
Shareholders' equity       4,888   6,029   6,970
(1) See “Non–GAAP Measures” in Q3 2016 MD&A

BioteQ Corporate Profile
BioteQ is a service provider that specializes in treating mining wastewater and specific hydrometallurgical streams with a focus on reducing Life Cycle Costs while achieving compliance and introducing sustainability into water management. We have extensive expertise in the removal, recovery, and/or recycle of a broad range of metals, sulphate, selenium, cyanide, ammonia and other nitrogen species. Over the past 16 years, BioteQ has developed and commercialized several new water treatment technologies and subsequently designed and commissioned plants at mine sites around the world working for leading organizations including Glencore, Jiangxi Copper, Freeport–McMoRan, and the US EPA. A key part of our business is our involvement in the ongoing operation and maintenance of treatment plants. We currently operate six plants under long–term contract and provide operations support to other plants globally. The plants comply with the required regulatory discharge limits while reducing or eliminating the production of waste sludge or by–products and/or recovering valuable metals from waste streams for sale. BioteQ is headquartered in Vancouver, Canada and trades on the TSX Venture Exchange under the symbol BQE. Please visit www.bioteq.ca for more information

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD–LOOKING INFORMATION
Certain information contained herein may not be based on historical fact and therefore constitutes “forward–looking information” under applicable Canadian securities legislation. This includes without limitation statements containing the words “plan”, “expect”, “project”, “estimate”, “intend”, “believe”, “anticipate”, “may”, “will” and other similar words or expressions. Forward–looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks, uncertainties and other factors that may cause actual events or results to differ materially from those expressed or implied by such forward–looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the Company's dependence on key personnel and contracts, uncertainty with respect to the profitability of the Company's technologies, competition, technology risk, the Company's ability to protect its intellectual property and proprietary information, fluctuations in commodity prices, currency risk, environmental regulation and the Company's ability to manage growth and other factors described in the Company's filings with the Canadian securities regulators at www.sedar.com (including without limitation the factors described in the section entitled “Risks and Uncertainties” in the Company's MD&A for the year ended December 31, 2015). Given these risks and uncertainties, the reader is cautioned not to place undue reliance on forward–looking statements. All forward–looking information contained herein is based on management's current expectations and the Company undertakes no obligation to revise or update such forward–looking information to reflect subsequent events or circumstances, except as required by law.

Animal Advocates Urge South Korea's Four Largest Corporations to Stand Against the Brutal Dog Meat Trade

LOS ANGELES, CA—(Marketwired – November 23, 2016) – International nonprofit animal advocacy group Last Chance for Animals (LCA) is intensifying its campaign to stop the South Korean dog meat trade. LCA President and Founder Chris DeRose is calling on Samsung, LG, Kia and Hyundai to release a written pledge condemning animal cruelty and supporting those working to stop dog meat trade in South Korea. Consumers are urged not to buy these companies' products until they have submitted this pledge.

South Korea's industrialized dog meat trade slaughters approximately 2.5 million dogs each year. The dogs are tortured in the belief that suffering makes the meat taste better — they may be hung, electrocuted and cooked alive. Due to the government's longstanding apathy towards animal cruelty, South Korea has now become the only country in the world in which dogs are bred in huge factory farming facilities solely for their meat.

On the eve of the busiest shopping weekend of the year, LCA urges consumers to use the power of their wallets to influence change by not buying Samsung, LG, Kia and Hyundai products until the companies formally denounce this cruelty. Amplifying this message, LCA has produced a compelling video to motivate consumers to demand change.

CLICK HERE TO WATCH THE VIDEO

CLICK HERE TO VIEW THE CORPORATIONS' ADDRESSES

“We respectfully ask these corporations to take a stand against cruelty. Every day, upwards of 5,500 dogs are beaten, electrocuted and brutally killed. We need the help of South Korea's largest corporations to stand with us in the name of humanity. And we need the help of consumers to pressure these corporations to make that happen,” states LCA's President and Founder Chris DeRose.

To learn more, visit StopDogMeat.com.

Last Chance for Animals (LCA) is a non–profit organization dedicated to eliminating animal exploitation through education, investigations, legislation, and public awareness campaigns. Since its formation in 1984, LCA has succeeded as one of the nation's pioneer animal advocacy organizations. Working internationally, LCA's Sam Simon Special Investigations Unit documents abuse in research labs, puppy mills, factory farms, and the entertainment industry, and works with prosecutors to enforce animal cruelty laws. LCA's educational and public outreach programs have empowered the public to make positive changes for the animals in their own communities. www.lcanimal.org

Image Available: http://www.marketwire.com/library/MwGo/2016/11/23/11G123128/Images/press_release–south–korean–dog–meat–farmsmarkets–b–aa2837834b2a8fdabd9c7a1b5fe77d45.jpg

Animal Advocates Urge South Korea's Four Largest Corporations to Stand Against the Brutal Dog Meat Trade

LOS ANGELES, CA—(Marketwired – November 23, 2016) – International nonprofit animal advocacy group Last Chance for Animals (LCA) is intensifying its campaign to stop the South Korean dog meat trade. LCA President and Founder Chris DeRose is calling on Samsung, LG, Kia and Hyundai to release a written pledge condemning animal cruelty and supporting those working to stop dog meat trade in South Korea. Consumers are urged not to buy these companies' products until they have submitted this pledge.

South Korea's industrialized dog meat trade slaughters approximately 2.5 million dogs each year. The dogs are tortured in the belief that suffering makes the meat taste better — they may be hung, electrocuted and cooked alive. Due to the government's longstanding apathy towards animal cruelty, South Korea has now become the only country in the world in which dogs are bred in huge factory farming facilities solely for their meat.

On the eve of the busiest shopping weekend of the year, LCA urges consumers to use the power of their wallets to influence change by not buying Samsung, LG, Kia and Hyundai products until the companies formally denounce this cruelty. Amplifying this message, LCA has produced a compelling video to motivate consumers to demand change.

CLICK HERE TO WATCH THE VIDEO

CLICK HERE TO VIEW THE CORPORATIONS' ADDRESSES

“We respectfully ask these corporations to take a stand against cruelty. Every day, upwards of 5,500 dogs are beaten, electrocuted and brutally killed. We need the help of South Korea's largest corporations to stand with us in the name of humanity. And we need the help of consumers to pressure these corporations to make that happen,” states LCA's President and Founder Chris DeRose.

To learn more, visit StopDogMeat.com.

Last Chance for Animals (LCA) is a non–profit organization dedicated to eliminating animal exploitation through education, investigations, legislation, and public awareness campaigns. Since its formation in 1984, LCA has succeeded as one of the nation's pioneer animal advocacy organizations. Working internationally, LCA's Sam Simon Special Investigations Unit documents abuse in research labs, puppy mills, factory farms, and the entertainment industry, and works with prosecutors to enforce animal cruelty laws. LCA's educational and public outreach programs have empowered the public to make positive changes for the animals in their own communities. www.lcanimal.org

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Sherritt's Moa Joint Venture Reports 4 Fatalities After Bridge Collapses

TORONTO, ON—(Marketwired – November 23, 2016) –

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sherritt International Corporation (“Sherritt”) (TSX: S) regrets to announce the deaths of four Moa Joint Venture (“JV”) employees, who were working on repairing a municipal bridge when the bridge collapsed yesterday afternoon.

David Pathe, Sherritt International President and CEO, said, “We are deeply shocked and saddened by this event. Our Moa JV had a safety record of a decade without a reported fatality prior to this event. The bridge had suffered damage from Hurricane Matthew, and our JV employees have been undertaking repairs since the end of October. We extend our sympathy and condolences to the families, friends and colleagues of the four employees.”

The bridge is over a shallow river, and is the main access from the local town and port of Moa to the mine site and High Pressure Acid Leach (HPAL) facility. The bridge is also used by the local community. As per normal protocols, an investigation into the cause is underway. The plant is operating at reduced rates and secondary access is being assessed. Production impacts will depend on how quickly the secondary access can be upgraded, with more information expected in the coming days.

About Sherritt

Sherritt is the world leader in the mining and refining of nickel from lateritic ores with projects and operations in Canada, Cuba, and Madagascar. The Corporation is the largest independent energy producer in Cuba, with extensive oil and power operations across the island. Sherritt licenses its proprietary technologies and provides metallurgical services to mining and refining operations worldwide. The Corporation's common shares are listed on the Toronto Stock Exchange under the symbol “S”.

Source: Sherritt Investor Relations