RNC Gold Inc.
TSX : RNC

October 12, 2005 17:08 ET

RNC Reports Quarterly Production Results

TORONTO, ONTARIO--(CCNMatthews - Oct. 12, 2005) -

Not for release in the United States

RNC Gold Inc. (TSX:RNC) today reported quarterly production results from its La Libertad and Bonanza mines in Nicaragua. The La Libertad mine is now operating with a contract miner and during September, the first full month of contract mining, significant progress was made toward improving the amount of material moved.

"September was the best month of the year in terms of the total tonnes moved and was accomplished during the month of highest rainfall," said Randy Martin, Chairman and CEO, RNC Gold Inc. "If the current level of material moved is sustained, La Libertad will be able to produce 70,000 ounces of gold per year."

The progress in September contributed to modestly higher production at La Libertad during the third quarter, as compared to the first half of 2005. The Company's 2005 quarterly production by mine is as follows:



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La Libertad Bonanza Total
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1st Quarter 8,269 6,501 14,770
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2nd Quarter 8,717 7,439 16,156
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3rd Quarter 10,761 7,844 18,605
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27,747 21,784 49,531
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Production figures for the La Libertad mine are detailed below:

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Tonnes Tonnes Tonnes Total Total Tonnes
Ore Waste Offloaded Tonnes Per Day
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1st Quarter 268,706 741,578 276,910 1,287,194 14,302
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2nd Quarter 256,141 749,297 229,810 1,235,248 13,574
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3rd Quarter 212,083 772,610 311,889 1,296,582 14,093
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Total 736,930 2,263,485 818,609 3,819,024 13,989
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September 93,768 345,213 116,828 555,809 18,527
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On a tonnes per day basis, total material moved in September was 32.4% higher than the 2005 monthly average. RNC is discussing with the contractor further improvements for the fourth quarter of 2005 and beyond.

About RNC Gold

RNC Gold Inc. is a gold mining company focused on mines and projects in Central America. From its current annual production base of 100,000 ounces of gold, RNC is positioned for growth through the acquisition of San Andres, construction of Cerro Quema, operational efficiencies and through exploration on property surrounding its present mines. The Company's main assets include the La Libertad and Bonanza mines in Nicaragua, and the Cerro Quema project under construction in Panama. The Company has signed a letter of intent to acquire the San Andres mine in Honduras which will increase the annual production base to approximately 170,000 ounces of gold per year. The Company has 40,569,021 common shares outstanding and on a fully diluted basis there are 64,497,736 securities outstanding.

Certain statements included herein, include those that express management's expectations or estimates of future performance, constitute "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic, regulatory, competitive and geological uncertainties and contingencies. Such forward-looking statements involve known and unknown risks, uncertainties and other risk factors that may cause the actual financial results, performance, or achievements of RNC Gold to be materially different from estimated future results, performance, or achievements expressed or implied by those forward looking statements. These are discussed in greater detail in RNC Gold's Annual Information Form and other reports filed with Canadian provincial securities commissions at www.sedar.com. RNC Gold expressly disclaims any intention or obligation to update or revise any forward-looking statement whether as a result of new information, events or otherwise.

Contact Information

  • RNC Gold Inc.
    J. R. Martin
    Chairman and CEO
    (416) 365-9777
    or
    RNC Gold Inc.
    T.W. Lough
    President and CFO
    (416) 365-9777
    or
    The Equicom Group
    Martti Kangas
    (416) 815-0700 ext 243