2012 AUDITED FULL YEAR RESULTS

LONDON--(Marketwire - Mar 27, 2013) -

27 March 2013                                        AIM:AMA / TSX:AMZ



                              Amara Mining plc
                         ("Amara" or "the Company")

                       2012 AUDITED FULL YEAR RESULTS

Amara Mining plc, the dual AIM and TSX-listed West African focused gold
mining company, is pleased to announce its audited results for the year
ended 31December 2012.

HIGHLIGHTS:

Operational

* Robust operational results in 2012 - production of 53,544 ounces
  at Kalsaka despite challenging conditions (total Group production for
  2012: 54,925 ounces)

* Rigorous control maintained on cash costs despite lower grades -
  US$961 per ounce produced at Kalsaka (excluding royalties)

* Resource update delivered for the Baomahun Gold Project in Sierra
  Leone and feasibility study on track for completion in H1 2013

* Preliminary Economic Assessment for Sega Gold Project delivered
  and trucking of material expected to commence in Q3 2013

* Resources at the Yaoure Gold Project increased to 1.7 million
  Inferred ounces (34.6Mt at 1.52g/t) - further upside potential and
  second resource update expected in H2 2013

* 2013 production guidance of 50,000-60,000 ounces maintained and
  production expected to strengthen in 2014 as Sega reaches steady state

Financial

* Cash flow from operations of US$23.5 million with good conversion
  to Group EBITDA (US$24.0 million)

* Record average realised gold price of US$1,667 per ounce sold

* Solid financial position - closing cash and liquid assets of
  US$36.2 million

* Adjusted EPS of 2.56c/share excluding exceptional items relating
  to exploration in Mali and regional exploration in Burkina Faso (Basic
  EPS: -0.22 c/share)

Corporate

* Strategic partnership formed with Samsung C&T Corporation to
  provide potential framework for the long-term funding of Baomahun, 
  plus other development opportunities

* Board, management team and operational team strengthened, including 
  appointment of John McGloin as Executive Chairman


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