ACA.L Regulatory News (ACA)

6 May 2015 Acacia Mining plc LSE:ACA ("Acacia" or the "Company") Approval for Commencement of Underground Mining at North Mara Acacia is pleased to announce it has received the required final approvals fromthe Tanzanian Vice President's Office in order to commence mining at the GokonaUnderground project at North Mara. The timing of the receipt of the approval ofthe Environmental Impact Assessment is in line with expectations, withcommercial production from the project expected to commence in late Q2 andproduction ramping up through the remainder of the year. The Gokona Underground project is expected to produce 450,000 ounces over a 5year life of mine, with all in sustaining costs of under US$750 per ounce. Weare confident that the existing reserve will be extended as we increase ourunderstanding of the ore body beneath the open pit, with potential for lateralextensions as well as the mineralisation remaining open beneath the 300 metrevertical depth cut off used in the current mine plan. Following the completion of the Gokona open pit in late Q2 2015, productionfrom North Mara for at least the next five years will comprise a blend of highgrade underground material from the Gokona underground and open pit materialfrom the Nyabirama pit. Together these are expected to allow the North Maramine to sustain annual production rates in excess of 250,000 ounces of gold atvery competitive costs. Commenting on the news, CEO Brad Gordon said, "We are delighted to havereceived the approvals to commence commercial production from the GokonaUnderground. This project is reflective of our new approach to operating ourassets whereby we have re-engineered the mine to drive free cash flow and atthe same time have significantly reduced the mine's footprint which helps ourrelationships with the communities around the mine. ENQUIRIES For further information, please visit our website: www.acaciamining.com orcontact: Acacia Mining plc +44 (0)20 7129 7150Andrew Wray, Chief Financial OfficerGiles Blackham, Investor Relations Manager Bell Pottinger +44 (0)20 3772 2500Daniel Thöle About Acacia Mining plc Acacia Mining plc (LSE:ACA), formerly African Barrick Gold, is Tanzania'slargest gold miner and one of the largest producers of gold in Africa. We havethree producing mines, all located in north-west Tanzania: Bulyanhulu, Buzwagi,and North Mara and a portfolio of exploration projects in Tanzania, Kenya andBurkina Faso. Our approach is focused on strengthening our three core pillars; our business,our people and our relationships. Our name change from African Barrick Gold toAcacia reflects a new approach to mining, and an ambition to create a leadingAfrican Company. Acacia is a UK public company headquartered in London. We are listed on theMain Market of the London Stock Exchange with a secondary listing on the Dar esSalaam Stock Exchange. Barrick Gold Corporation remains our majorityshareholder. Acacia reports in US dollars and in accordance with IFRS asadopted by the European Union, unless otherwise stated in this announcement. Disclaimer and forward-looking statements This announcement is for information purposes only and does not constitute aninvitation or offer to underwrite, subscribe for or otherwise acquire ordispose of any securities of Acacia in any jurisdiction. This announcement includes "forward-looking statements" that express or implyexpectations of future events or results as opposed to historical facts. Thesestatements include, financial projections and estimates and their underlyingassumptions, statements regarding plans, objectives and expectations withrespect to future production, operations, costs, projects, and statementsregarding future performance. Forward-looking statements are generallyidentified by the words "plans," "expects," "anticipates," "believes,""intends," "estimates" and other similar expressions. All forward-looking statements involve a number of risks, uncertainties andother factors, many of which are beyond the control of Acacia, which couldcause actual results and developments to differ materially from those expressedin, or implied by, the forward-looking statements contained herein. Factorsthat could cause or contribute to differences between the actual results,performance and achievements of Acacia include, but are not limited to, changesor developments in political, economic or business conditions or national orlocal legislation or regulation in countries in which Acacia conducts - or mayin the future conduct - business, industry trends, competition, fluctuations inthe spot and forward price of gold or certain other commodity prices (such ascopper and diesel), currency fluctuations (including the US dollar, SouthAfrican rand, Kenyan shilling and Tanzanian shilling exchange rates), Acacia'sability to successfully integrate acquisitions, Acacia's ability to recover itsreserves or develop new reserves, including its ability to convert itsresources into reserves and its mineral potential into resources or reserves,and to process its mineral reserves successfully and in a timely manner,Acacia's ability to complete land acquisitions required to support its miningactivities, operational or technical difficulties which may occur in thecontext of mining activities, delays and technical challenges associated withthe completion of projects, risk of trespass, theft and vandalism, changes inAcacia's business strategy and ongoing implementation of operational reviews,as well as risks and hazards associated with the business of mineralexploration, development, mining and production and risks and factors affectingthe gold mining industry in general. Although Acacia's management believes thatthe expectations reflected in such forward-looking statements are reasonable,Acacia cannot give assurances that such statements will prove to be correct.Accordingly, investors should not place reliance on forward-looking statementscontained in this announcement. Any forward-looking statements in this announcement only reflect informationavailable at the time of preparation. Subject to the requirements of theDisclosure and Transparency Rules and the Listing Rules or applicable law,Acacia explicitly disclaims any obligation or undertaking publicly to update orrevise any forward-looking statements in this announcement, whether as a resultof new information, future events or otherwise. Nothing in this announcementshould be construed as a profit forecast or estimate.