Peninsular Gold : Raub Operations Update

6/13/2014 Raub Operatioos Update- Londoo Sock Exchange

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Peninsular Gold Lim ited

PGL

Raub Operations Update

07:00 13-Jun-2014

5343J07

RNS Number : 5343J Peninsular Gold Limited

13 Jillle 2014

PENINSULAR GOLD LIMITED ('Peninsular' orthe 'Company')
Raub Operations Update
Highlights
• Gol d production for the quarter to 31March 2014of 5,805 ozs from approximately 371,000 tonnes of tailings throughput (04 2013: 4,628 ozs)
• Gol d production for the 1st three quarters of the financial year (July 2013 to March 2014) was 16,269 ozs
• Gol d production for Aprii 2014 was l,794 ozs
Raub Operations
Gold production from the Raub plant for the quarter to 31March 2014 was 5,805 ozs compared to 4,628ozs for the quarter to 31Decembe r 2013.
The tonnage processed during the quarter totaled an estimated 371,000 tonnes of tailings material (04
2013: 302,000). The improvement in the total material processed over the previous quarter reflects the improvement in bali mili availability following the repair of the offline mili that impacted 04 2013.
The current mining pian is to continue mining principally tailings until 012015 at which point it is intended to recommence processing a biend of tailings and oxide materia!. The nexttailings storage facii ity wili also be readyforoperation in 012015.
This brings gol d production for the first three quarters of the current financial year (July 2013 to March
2014) to 16,269ozs {2013: 16,462ozs).
Management a t Raub are continuing to focus on operational improvement and increasing throughputvia increased availabil ity and cost savings and this focus is already yielding benefits.
This improvement in production for 012014 has meant the second half of the finanei al year has started well. Production for Aprii 2014 was l,794 ozs. However, while the gold spot price was improved during 01
2014over the end of 2013, there has been a siight weakening of the price during 02 2014.
While the second half of the financial year has started well, following the f2.8m loss reported for the six

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6f13m14 Raub Operations Update- London 9ockEJO:hange

month to 31December 2013, there is stili expected to be a loss reported forthe full yearto 30 June 2014. Management remains confident of being able to raise any addiiional working capitai should it prove necessary at any point.

End

Dato' Sri Andrew TV Kam Chairman and Chief Executive Peninsular Gold limited Tel: [phone]	Patrick Watson Finance Director Peninsular Gold Ltd. Tel: [phone]
Samantha Harrison/Craig Francis Nominated Advisor RFC Ambrian limited Tel: [phone]	Colin Rowbury Broker Daniel Stewart & Co. Ltd. Tel: [phone]

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