Page 37 Pr oud Gold Sponsors of: The BIG Event Northern Mines Expo Come visit us at our Booth Ar ena 1, R6-03 Page 37 Pr oud Gold Sponsors of: The BIG Event Northern Mines Expo Come visit us at our Booth Ar ena 1, R6-03 Page 36 St Andr ew achieves r ecord gold pr oduction during 2012 By Gregory Reynolds St Andrew Goldfelds Ltd. achieved record gold production in 2012 of 95,604 ounces and expects to exceed 100,000 ounces in 2013. For fscal year 2012, St Andrew earned net income attributable to shareholders of $26.0 million or $0.07 per share as compared to net income of $17.2 million or $0.05 per share for fscal year 201 1. SAS generated $54.1 million in cash fow from operation s, or $0.15 on a per share basis, compared to $23.4 mil - lion or $0.06 per share in FY 201 1. The company is providing 2013 production guidance (estim ate) of between 95,000 - 105,000 ounces of gold, an increase over 2012 with similar cash cost guidance of be - tween US$800-US$850 per ounce, before royalties. “W e had a great fourth quarter and a very good year overall, ” said Jacques Perron, president and CEO of St Andrew . “W e saw a steady increase in produc - tion and as expected, our mine cash costs in the fourth quarter reduced to under US$800 per ounce. Holt Mine continues to perform well and we were operating at approximately 1,000 tonnes per day at the end of the fourth quarter . W e had a solid operational perfor - mance in 2012 and are committed to continue to improve at each operation during 2013. W e have met our 2012 production and unit cost guidance and look to meet our 2013 goals and objec - tives in the same manner .” St Andrew , which operates as SAS Goldmines, earned net income attrib - utable to shareholders for the fourth quarter of 2012 of $12.6 million or $0.03 per share, as compared to net in- come of $12.9 million, or $0.04 on a per share basis, for the fourth quarter of 201 1. Operating cash fow in the quarter was $21.7 million or $0.06 per share, compared to operating cash fow for the same period last year of $14 mil - lion, or $0.04 per share. SAS is a gold mining and explora - tion company with an extensive land package in the T immins Mining Dis - trict, Northeastern Ontario, which lies within the Abitibi Greenstone Belt, the most important host of historical gold production in Canada. SAS owns and operates the Holt, Hol - loway and Hislop mines. The com - pany is also advancing the T aylor Project and is conducting aggressive exploration across 120km of land straddling the Destor -Porcupine Fault Zone. SAS has 100% ownership interest in the Holt-Hollo way properti es. The Holloway Mine and Holt Mine and Cont’d on pg. 38 Page 36