OREANDA-NEWS. Highland Gold Mining Limited (“Highland Gold”, the “Company” or the “Group” AIM: HGM) announces its final audited results for the year ended 31 December 2012.

FINANCIAL HIGHLIGHTS IFRS, USD 000 (unless stated)

2012

2011

Production (gold and gold eq.oz)

216,885

184,102

Total Group cash costs (USD /oz)

749

594

Revenue

351,828

300,181

Gross profit

146,258

154,495

EBITDA

161,808

157,118

Earnings per share (USD )

0.378

0.319

Net cash inflow from operations

131,199

116,930

Capital expenditure

125,028

65,611

Net cash position

52,596

126,746

Eugene Shvidler, Chairman of Highland Gold Mining, commented: “Solid progress was achieved across the Group’s operations during 2012 as rigorous efficiencies led to a 17.8% increase in total production. Cost containment measures brought second half benefits, the construction of the Belaya Gora processing plant proceeded to the final stages and our exploration projects yielded a series of encouraging results. This was accompanied by further M&A activity which, earlier this month, culminated in the USD 223.0 million acquisition of the Kekura licence, a transaction which significantly strengthens our prospective production profile. We remain confident that such developments leave the Company well positioned to advance its growth strategy.”