Lake Shore Gold Reports "Solid" Progress in 2012; Strong Production Growth and Lower Costs Planned in 2013

Lake Shore Gold Corp. (LSG.TO) announced financial and operating results for the full-year and fourth quarter of 2012. Highlights of the year include: meeting the company's production guidance; achieving significant development and construction progress; effectively managing operating costs and capital investment; and ending the year positioned for production growth of 40% or more in 2013 (120,000 to 135,000 ounces) and well financed.

Tony Makuch, President and CEO, said: "Last year was our peak year for capital investment, development and construction as we advanced the Timmins West Mine and kept our mill expansion on track for completion during the second quarter of 2013. It was also a year in which we achieved our production guidance, reported average cash costs per tonne below expected levels and capital expenditures at the low end of our target range. Based on the progress achieved in 2012, we are now poised for strong production growth, sharply lower capital investment and improved operating costs in 2013."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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