Angel Gold Corp.
TSX VENTURE : ANG

Angel Gold Corp.

February 17, 2015 10:21 ET

Angel Gold Announces Historic Drill Hole Silver Values of up to 1210g/tonne Ag (35.3oz/t) From its El Porvenir Project in Colombia

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 17, 2015) - Angel Gold Corp. (TSX VENTURE:ANG) ("Angel" or the "Company") announces high grade silver values from its data review of Mineros drill core sampling on the Company's flagship the El Porvenir Project in Colombia. Two of its prospects, Bominas and Guayabales, which occur some 2.7km apart, and on opposing sides of the major Bagre Fault, report substantial silver values in silver-dominant mineralization. Additionally high-grade gold-silver mineralization was also intersected by Mineros at the Bominas Prospect. The El Porvenir maps are available at http://www.angelgoldcorp.com/index.php/projects/el-porvenir-project

Angel has an option to acquire 100% interest in El Porvenir from Mineros S.A. ("Mineros") a private Colombian mining company as described in previous press releases.

Stella Frias, Angel Gold's President & CEO, commented, "In addition to the very high grade gold-silver mineralization that we have been able to substantiate at our Abejero Prospect (which we reported on February 11, 2015 Press Release) and the corroborated existence of significant silver-gold mineralization from our sampling at our Guayabales Prospect (which we reported briefly on February 5, 2015 Press Release), our review of historic Mineros drill results data has shown our Bominas Prospect to contain a combination of both high-grade silver values as well as further high-grade gold-silver mineralization. This information further demonstrates the potential of this property."

We take this opportunity to briefly report the significant historic Mineros drill intercepts at our Bominas and Guayabales Prospects:

BOMINAS HIGH-GRADE MINEROS SILVER-DOMINANT DRILL INTERCEPTS

  • RCGDDH023 - 1.70m @ 1210g/t Ag, 0.05 g/t Au from 97.9 to 99.6m - pyritic fractures in gneiss
  • RCGDDH009 - 1.88m @ 420g/t Ag, 0.01g/t Au from 22.22 to 24.10m - oxidized sulfidic fractures in weathered gneiss
  • RCGDDH009 - 1.45m @ 441g/t Ag, 0.01g/t Au from 39.95 to 41.40m - pyritic fractures in gneiss

BOMINAS HIGH-GRADE MINEROS GOLD-SILVER DRILL INTERCEPTS

  • RCGDDH009 - 2.35m @9.74g/t Au, 0.8g/t Ag from 114.49 to 116.84m -quartz veined gabbro
  • RCGDDH016 - 2.25m @ 23.1g/t Au, 13.5g/t Ag from 31.00 to 33.25m - oxidized sulfidic fractures in diorite dyke
  • RCGDDH017 - 1.00m @ 39.40g/t Au, 15.7 g/t Ag from 83.4 to 84.4m - quartz vein

GUAYABALES SIGNIFICANT MINEROS SILVER/GOLD DRILL INTERCEPTS

  • RBGDDH039 - 0.65m @ 73.4g/t Ag, 0.41g/t Au from 64.45 to 65.10m - quartz vein
  • RBGDDH045 - 0.30m @ 88.0g/t Ag, 0.03g/t Au from 60.25 to 60.55m - bleached silicified zone
  • RBGDDH046 - 0.40m @ 35.9g/t Ag, 1.19g/t Au from 45.90 to 46.30m - quartz vein
  • RBGDDH049 - 9.00m @ 88.9g/t Ag, 0.76g/t Au from 27.15 to 36.15m -bleached silicified zone

Note: All the above intersections are stated as down hole intercepts, as insufficient data exists to estimate true thicknesses. The Company was not able to locate pulps or bulk rejects for the Bominas Prospect, and as such was unable to reassay them. Selected samples from the Guayabales Prospect were however located and reassayed. The results of our due diligence reassaying of core was reported on February 5 of this year, with the results available in the NI 43-101 Technical Report for the El Porvenir Project atwww.angelgoldcorp.com and on Sedar. Additionally, charts comparing Mineros original data with Angel reassay multielement data, plus an evaluation of the reassay laboratory's (Actlabs) internal QC are available as excel downloads at: http://www.angelgoldcorp.com/index.php/projects/el-porvenir-project The Company cautions that the data provided herein are from historical drill programs. The Company has not validated every drill hole sample assay provided by Mineros, but has conducted an extensive check assay program and has no reason to doubt the veracity of the Mineros' data.

BOMINAS PROSPECT

The Bominas vein system has been traced, by artisanal miners and Mineros, for some 2.0 km of strike within the El Porvenir tenement along the western face of a steep hill that parallels the major regional north-south trending Bagre Fault. The structure extends northwards of El Porvenir for a further 300m to and beyond the active "El Congo" artisanal gold mine, and southwards for a further 300m or more into the small window in the El Porvenir tenements that hosts the "El Serrana" artisanal gold mining operation. The structure was tested by 20drill holes (average depth 101.4m), or one hole per each 100m of strike, and drilled west to east. The majority of these holes were NQ in size, and sampled half core. Additionally some 6 x BQ holes were drilled in the reverse direction from west to east in the central part of the trend known as "Pedro Castrillon", intersecting some barren quartz veining.

A review of the drill core for RBGDDH009 indicates a lack of veining or significant alteration in the two high-grade silver intercepts, just minor sulfidic fracture fills. The high-grade Au-Ag intersection deeper in the same hole showed both milky veinlets and sulfidic fracture fillings. The Mineros log for the 1210 g/t Ag sample from hole RBGDDH023 reports only zones of strong silicification and vuggy chlorite infills. The photos show the presence of some minor sulfidic fracture fills. With such sparse information available, plus the lack of notable associated alteration or quartz veining the significance of the high-grade silver values can only be speculated.

GUAYABALES PROSPECT

Mineros has traced the mineralized zone over a strike length of 1070m with 17 core holes (15 of which were BQ in size) drilled to an average depth of 76.6m. The BQ core was sampled whole-core by Mineros, and as such only wall rock cores and the Mineros' pre-sampling core photographs could be examined.

Mineralization at Guayabales is hosted both in quartz veining and within broader zones of bleached silicification. There is a strong spatial association of Ag-Au mineralization with pyrite and galena, and a geochemical signature of Ag-Au-As-Pb-Zn-Cu (plus very low vales of Sb, Mo, Cd and Bi).

"We believe the El Porvenir project to be extremely promising for the existence of Au-Ag deposits. The three known areas of Au and Ag mineralization on the El Porvenir property (Abejero, Bominas and Guayabales) provide us with immediate targets on which to focus. The recognition that there are three styles of mineralization present enhances the attractiveness of this property." Stated Stella Frias, Angel Gold President and CEO

The NI 43-101 Technical Report for the El Porvenir project is available at www.angelgoldcorp.com and on Sedar.

Qualified Person

Mr. James G. Burns, P.Eng, a Qualified Person under NI 43-101 and a technical consultant to the Company has reviewed and approved the scientific and technical information contained in this news release.

About Angel Gold Corp.:

Angel is a Canada-based gold exploration company focused on responsible development of mineral resources in Colombia. Angel's Colombia based gold exploration team has over 25 years' experience in the country. The Company continues its strategy to acquire "brownfield" opportunities in Colombia's best mining districts.

On Behalf of the Board of Directors of Angel Gold Corp.

Blanca Stella Frias, Director

President and Chief Executive Officer

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.

The TSX Venture Exchange has not reviewed the content of this News Release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this News Release. This news release contains certain "forward- looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this News Release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this News Release. We seek safe harbour.

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