Royal Oak Announces First Quarter Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 30, 2012) - Royal Oak Ventures Inc. ("Royal Oak" or the "company") recorded comprehensive income of $0.9 million for the three months ended March 31, 2012 consistent with the comparative quarter in 2011. Comprehensive income in the current quarter consisted of net income of $0.3 million (2011 - $0.2 million) and other comprehensive income of $0.6 million (2011 - $0.7 million).

The company reported net income of $0.3 million or $nil per common share for the three months ended March 31, 2012 compared to net income of $0.2 million or $nil per common share in the corresponding period in 2011. The increase in net income in comparison to the prior year is the result of a reduction of operation costs and higher foreign currency revaluation gains recorded on the company's investment portfolio.

The company recorded pre-tax unrealized gains of $0.7 million in other comprehensive income in the current quarter (2011 - $0.8 million), as a result of an increase 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. Upon approval, the company's common voting and non-voting shares will be relisted and admitted to trading.

STATEMENTS OF OPERATIONS

			Three months ended March 31
	(Thousands, except per share amounts)		2012		2011
	Revenue
		Interest and dividend income	$	221	$	220
	Expenses
		General, administrative and other		59		119
				162		101
	Foreign currency revaluation			41		(2)
	Income before income taxes			203		99
	Deferred income tax recovery			86		74
	Net income		$	289	$	173
	Net income per share		$	-	$	-

CHANGES IN NET BOOK VALUE

The net book value of the company's common shares as at March 31, 2012 was $0.21 per share. The information in the following table shows the changes in net book value for the three months ended March 31, 2012 and 2011.

		Three months ended March 31
		2012				2011
	(Thousands, except per share amounts)	Total		Per Share (1)(2)		Total		Per Share (1)(2)
	Net book value, beginning of period (3)	$	32,927	$	0.20	$	34,212	$	0.21
	Net income		289		-		173		-
	Other comprehensive income		605		0.01		707		0.01
	Comprehensive income		894		0.01		880		0.01
	Net book value, end of period (3)	$	33,821	$	0.21	$	35,092	$	0.22

(1)	As at March 31, 2012 and 2011 and December 31, 2011 and 2010 the company was capitalized with 3,157,189 common voting shares and 159,339,267 non-voting shares, which are referred to collectively as "common shares"
(2)	As at March 31, 2012 and 2011 and December 31, 2011 and 2010 there were 162,496,456 common shares issued and outstanding
(3)	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 March 31, 2012 and December 31, 2011.

	(Thousands, except per share amounts)		March 31, 2012		December 31, 2011
	Assets
	Current assets
		Cash and cash equivalents	$	8,047	$	7,742
		Marketable securities		21,662		21,162
		Accounts receivable		357		134
		Loans receivable		3,912		4,007
			$	33,978	$	33,045
	Liabilities and equity
	Current liabilities
		Accounts payable and accrued liabilities	$	157	$	118
	Equity			33,821		32,927
			$	33,978	$	33,045
	Net book value per share (1,2)		$	0.21	$	0.20

(1)	As at March 31, 2012 and December 31, 2011 there were 162,496,456 common shares issued and outstanding
(2)	Net book value is a non-IFRS measure