Royal Oak Announces Third Quarter Results

TORONTO, ONTARIO--(Marketwire - Nov. 27, 2012) - Royal Oak Ventures Inc. (CNSX:ROV)(CNSX:ROV.B) ("Royal Oak" or the "company") reported net income of $0.4 million or $nil per share for the quarter ended September 30, 2012 compared to net income of $0.1 million or $nil per share in the corresponding period in 2011. Comprehensive income, which consists of net income and other comprehensive income, increased by $2.0 million to $0.9 million for the quarter ended September 30, 2012 compared to the same period of 2011. The increase in comprehensive income was driven by $0.6 million of unrealized gains on the company's investment portfolio, compared to $1.3 million of unrealized losses recorded in the prior year.

STATEMENTS OF OPERATIONS
			Three months ended September 30							Nine months ended September 30
(Thousands, except per share amounts)			2012			2011				2012			2011
Revenue
	Interest and dividend income		$	221		$	217			$	683		$	662
Expenses
	General, administrative and other			81			76				237			456
				140			141				446			206
Foreign currency revaluation				147			129				215			138
Income before income taxes				287			270				661			344
Deferred income tax (expense) recovery				81			(173	)			106			(164	)
Net income			$	368		$	97			$	767		$	180
Net income per share (basic and diluted)			$	-		$	-			$	-		$	-

CHANGES IN NET BOOK VALUE

The net book value per common share as at September 30, 2012 was $nil. The information in the following table shows the changes in net book value for the three and nine months ended September 30, 2012 and 2011.

	Three months ended September 30												Nine months ended September 30
	2012					2011							2012					2011
(Unaudited) (Thousands, except per share amounts)		Total		Per Share(1	)		Total			Per Share				Total		Per Share(1	)		Total			Per Share
Net book value, beginning of period (2)	$	33,500	$	0.20		$	34,410		$	0.21			$	32,927	$	0.20		$	34,212		$	0.21
Net income		368		-			97			-				767		-			180			-
Other comprehensive income (loss)		522		0.01			(1,164	)		(0.01	)			696		0.01			(1,049	)		(0.01	)
Comprehensive income (loss)		890		0.01			(1,067	)		(0.01	)			1,463		0.01			(869	)		(0.01	)
Net book value, end of period(2)	$	34,390	$	0.21		$	33,343		$	0.20			$	34,390	$	0.21		$	33,343		$	0.20

(1)	As at September 30, 2012 and December 31, 2011 the company was capitalized with 162,496,456 shares, consisting of 3,157,189 common voting shares and 159,339,267 non-voting shares, which are referred to collectively as "shares"
(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 September 30, 2012 and December 31, 2011.

(Thousands, except per share amounts)			September 30, 2012		December 31, 2011
Assets
Current assets
	Cash and cash equivalents		$	8,179	$	7,742
	Marketable securities			21,739		21,162
	Accounts receivable			694		134
	Loans receivable			3,859		4,007
			$	34,471	$	33,045
Liabilities and equity
Current liabilities
	Accounts payable and accrued liabilities		$	81	$	118
Equity				34,390		32,927
			$	34,471	$	33,045
Net book value per share (1,2)			$	0.21	$	0.20
(1) As at September 30, 2012 and December 31, 2011 there were 162,496,456 shares issued and outstanding(2) Net book value is a non-IFRS measure