Angel Gold Corp.
TSX VENTURE : ANG

Angel Gold Corp.

February 19, 2015 09:50 ET

Angel Gold Makes Second Payment to Mineros S.A. for the El Porvenir Gold-Silver Property

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 19, 2015) - Angel Gold Corp. (TSX VENTURE:ANG) ("Angel" or the "Company") is pleased to announce that it has made its second payment of US$50,000 to Mineros SA in accordance with the terms of the Option Agreement (the "Agreement") for the El Porvenir gold and silver property (the "Property"). (See Angel's Press Release of November 24, 2014.) This cash payment was made on February 18, 2015 with no further option payments required until the second anniversary of the Agreement.

"As reported in previous press releases, we have found high grade gold from the assay results from our due diligence sampling in conjunction with the high grade silver values obtained in historic exploration records. We believe that this property is of exceptional merit and with this payment have solidified our Agreement to acquire the Property," stated Stella Frias, President and CEO of Angel Gold.

"We are now positioned directly in the heart of the Segovia-Remedios gold belt which has historically been the largest gold-producing region in Colombia. With the completion of our due diligence process we have confirmed our initial assessment of the property and the exploration potential for multiple high grade gold and silver discoveries on the El Porvenir project," continued Miss Frias.

Property Option Terms

Angel may earn a 100% interest in the Property by meeting the following obligations:

a. making cash payments to Mineros totaling $2 million: $50,000 upon the Agreement's signature; $50,000 due 90 days after the Agreement's signature (known as the "Due Diligence and Approval Period"); $100,000 upon the second anniversary of the Due Diligence and Approval Period; $400,000 upon the third anniversary of the Due Diligence and Approval Period; $400,000 upon the fourth anniversary of the Due Diligence and Approval Period; and $1 million upon at the fifth anniversary of the Due Diligence and Approval Period;

b. spending an aggregate of $5.2 million over five years (subject to environmental permits and exploration results): $200,000 in year 1; $500,000 in year 2; and $1.5 million per year in years 3, 4 and 5.

Angel retains the right to exit the Agreement at any time over its term. Also, by paying the balance of the Agreement's value, Angel can acquire the mining title at any time over its term.

Terms of the Agreement also stipulate that Angel, upon acquiring Mineros' interest, will grant a 3% net smelter royalty (NSR) royalty to Mineros from the commercial production of mineral products from the property.

The transaction is pending final approval from the TSX Venture Exchange.

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 technical content of this Letter.

About Angel Gold Corp.:

Angel is a Canada-based gold exploration company focused on responsible development of mineral resources in Colombia, host to some of the world's largest gold deposits. Angel has been working in Colombia for over five years. The Company continues its strategy to acquire strategic 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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