Amara Mining plc: Audited Full Year Results

LONDON, 27 March 2013 - Amara Mining plc ("Amara" or "the Company"), the dual AIM and TSX-listed West African focused gold
mining company, is pleased to announce its audited results for the year
ended 31December 2012.


HIGHLIGHTS:

Operational

* Robust operational results in 2012 - production of 53,544 ounces at Kalsaka despite challenging conditions (total Group production for 2012: 54,925 ounces)

* Rigorous control maintained on cash costs despite lower grades - US$961 per ounce produced at Kalsaka (excluding royalties)

* Resource update delivered for the Baomahun Gold Project in Sierra Leone and feasibility study on track for completion in H1 2013

* Preliminary Economic Assessment for Sega Gold Project delivered and trucking of material expected to commence in Q3 2013

* Resources at the Yaoure Gold Project increased to 1.7 million Inferred ounces (34.6Mt at 1.52g/t) - further upside potential and second resource update expected in H2 2013

* 2013 production guidance of 50,000-60,000 ounces maintained andproduction expected to strengthen in 2014 as Sega reaches steady state


Financial

* Cash flow from operations of US$23.5 million with good conversion to Group EBITDA (US$24.0 million)

* Record average realised gold price of US$1,667 per ounce sold

* Solid financial position - closing cash and liquid assets of US$36.2 million

* Adjusted EPS of 2.56c/share excluding exceptional items relating to exploration in Mali and regional exploration in Burkina Faso (Basic EPS: -0.22 c/share)


Corporate

* Strategic partnership formed with Samsung C&T Corporation to provide potential framework for the long-term funding of Baomahun, plus other development opportunities

* Board, management team and operational team strengthened, including appointment of John McGloin as Executive Chairman


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http://www.rns-pdf.londonstockexchange.com/rns/9558A_1-2013-3-26.pdf


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