Royal Oak Announces 2011 Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 25, 2012) - Royal Oak Ventures Inc. ("Royal Oak" or the "company") recorded a comprehensive loss of $1.3 million for the year ended December 31, 2011 compared to comprehensive income of $5.5 million in the prior year. The current year comprehensive loss consisted of net loss of $0.6 million (2010 - net income of $5.8 million) and other comprehensive loss of $0.6 million (2010 - $0.3 million) which was primarily the result of a $0.7 million unrealized loss on the company's marketable securities which are recorded at fair value in other comprehensive income, and other investment losses of $1.0 million in net income.

The company reported a net loss of $0.6 million or $nil per common share for the year ended December 31, 2011 compared to net income of $5.8 million or $0.04 per common share in 2010. Net loss in the current year included an impairment of $1.0 million (2010 - $2.1 million) on certain of the securities in the portfolio. Net income in the prior year included a $4.9 million disposition gain as well as a $1.7 million special distribution received on one of the portfolio investments.

The company recorded a pre-tax unrealized loss of $0.7 million in other comprehensive loss in the current year (2010 - $0.3 million), as a result of a decrease in the fair value of the company's marketable securities portfolio.

The company is seeking approval of the listing application for its common voting and non-voting shares. Pending approval, the company's common voting and non-voting shares will be relisted and admitted to trading.

STATEMENTS OF OPERATIONS
For the years ended December 31 Thousands, except per share amounts		2011			2010
Revenue
Investment income
	Interest and dividend income	$	889		$	2,938
	Other investment (loss) income		(1,033	)		3,764
			(144	)		6,702
Expenses
	General, administrative and other		561			571
	Interest expense		-			535
			561			1,106
			(705	)		5,596
Foreign currency revaluation			137			256
(Loss) income before income taxes			(568	)		5,852
Deferred income tax expense			(78	)		(47	)
Net (loss) income		$	(646	)	$	5,805
Net income per share		$	-		$	0.04

CHANGES IN NET BOOK VALUE

The net book value of the company's common shares as at December 31, 2011 was $0.20 per share. The information in the following table shows the changes in net book value for the years ended December 31, 2011 and 2010.

	2011						2010
For the years ended December 31 Thousands, except per share amounts	Total			Per Share (1)			Total			Per Share (1)
Net book value, beginning of period (2)	$	34,212		$	0.21		$	28,684		$	0.18
Net (loss) income		(646	)		-			5,805			0.04
Other comprehensive loss		(639	)		(0.01	)		(277	)		(0.01	)
Comprehensive (loss) income		(1,285	)		(0.01	)		5,528			0.03
Net book value, end of period (2)	$	32,927		$	0.20		$	34,212		$	0.21

(1)	As at December 31, 2011 there were 162,496,456 common shares issued and outstanding
(2)	Net book value is a non-IFRS measure

STATEMENTS OF FINANCIAL POSITION

The information in the following table has been extracted from the company's statements of financial position as at December 31, 2011 and 2010.

Thousands (except per share amounts)			2011		2010
Assets
	Current assets
		Cash and cash equivalents	$	7,742	$	9,038
		Marketable securities		21,162		22,541
		Accounts receivable		134		320
		Loans receivable		4,007		3,915
			$	33,045	$	35,814
Liabilities and equity
Current liabilities
	Accounts payable and accrued liabilities		$	118	$	1,602
Equity				32,927		34,212
			$	33,045	$	35,814
Net book value per share (1,2)			$	0.20	$	0.21

(1)	As at December 31, 2011 there were 162,496,456 common shares issued and outstanding
(2)	Net book value is a non-IFRS measure