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Royal Oak Announces Third Quarter Results

TORONTO, ONTARIO -- (Marketwire) -- 11/27/12 -- 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      Nine months ended 
                                        September 30           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                         
                                                                            
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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           
                                  2012                      2011            
--------------------------------------------------------------------------- 
(Unaudited)                                                                 
(Thousands, except per                       Per                            
 share amounts)                Total     Share(1)       Total    Per Share  
--------------------------------------------------------------------------- 
Net book value,                                                             
 beginning of period                                                        
 (2)                     $    33,500 $      0.20  $    34,410  $      0.21  
Net income                       368           -           97            -  
Other comprehensive                                                         
 income (loss)                   522        0.01       (1,164)       (0.01) 
--------------------------------------------------------------------------- 
Comprehensive income                                                        
 (loss)                          890        0.01       (1,067)       (0.01) 
Net book value, end of                                                      
 period(2)               $    34,390 $      0.21  $    33,343  $      0.20  
--------------------------------------------------------------------------- 
--------------------------------------------------------------------------- 

---------------------------------------------------------------------------
---------------------------------------------------------------------------
                                  Nine months ended September 30           
                                  2012                      2011           
---------------------------------------------------------------------------
(Unaudited)                                                                
(Thousands, except per                       Per                           
 share amounts)                Total     Share(1)       Total    Per Share 
---------------------------------------------------------------------------
Net book value,                                                            
 beginning of period                                                       
 (2)                     $    32,927 $      0.20  $    34,212  $      0.21 
Net income                       767           -          180            - 
Other comprehensive                                                        
 income (loss)                   696        0.01       (1,049)       (0.01)
---------------------------------------------------------------------------
Comprehensive income                                                       
 (loss)                        1,463        0.01         (869)       (0.01)
Net book value, end of                                                     
 period(2)               $    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.                                                                       
                                                                            
                                           September 30,        December 31,
(Thousands, except per share amounts)               2012                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
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Liabilities and equity                                                      
Current liabilities                                                         
  Accounts payable and accrued                                              
   liabilities                          $             81    $            118
Equity                                            34,390              32,927
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                                        $         34,471    $         33,045
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----------------------------------------------------------------------------
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      

Contacts:
Royal Oak Ventures Inc.
Derek E. Gorgi
Vice-President Finance
(416) 363-9491

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