NORD.L Regulatory News (NORD)

Nord Gold N.V. reports operating results for the fourth quarter and twelve months ended December 31, 2012

Amsterdam, Netherlands, January 22, 2013

Nord Gold N.V, ("Nordgold" or the "Company", LSE: NORD), an independent, internationally diversified, pure-play gold producer strategically focused on emerging markets, announces its operating results for the fourth quarter and twelve months ended December 31, 2012.

Highlights for the quarter

·; Gold production for the twelve months ended December 31, 2012 was 716.9 Koz (a decrease of 5% from 2011). The decline in production for the full year was mainly due to mechanical bottlenecks which seriously affected production at our main assets in 1H 2012. Nordgold took a number of operational measures during 2012 to improve production at all our mines.

·; Q4 gold production of 201.9 thousand gold equivalent ounces ("Koz"), a 4% growth QoQ and 1% decrease YoY.

·; Gold production in Q4 2012 increased at Lefa, Taparko, Berezitovy from Q3 2012, while production fell at Buryatzoloto, Suzdal, Neryungri and Aprelkovo in the same period.

·; Revenues for the twelve months ended December 31, 2012 increased by 1% to US$1,197.9 million, compared to US$1,182.1 million in the 2011 financial year. Q4 2012 revenues increased by US$24.3 million or 8% compared to Q3 2012, from US$322.5 million in Q3 2012 to US 346.8 million in Q4 2012.

·; Nordgold anticipates 2013 full year production to be in the range of 770 to 850 koz.

Development Highlights

Bissa Launch - 17 January 2013[i]

·; On 17 January 2013, Nordgold announced its first gold pour at Bissa. The mine was officially opened by His Excellency the Prime Minister of Burkina Faso Luc Adolphe Tiao and Chief Executive Officer of Nordgold Nikolai Zelenski. Bissa was completed ahead of schedule, on budget and with only one minor Lost Time Injury. Total investment in the project was US$ 250 million and it was completed in 15 months.

·; Bissa is Nordgold's second mine in Burkina Faso and brings the total number of operating assets in the Nordgold portfolio to nine. As at January 2012, the project's proven and probable reserves (JORC) of gold were estimated at 139 koz at 2.92 g/t and 1,664 koz at 1.78 g/t respectively. Measured, indicated and inferred resources totaled 156 koz (2.47 g/t), 2,835 koz (1.19 g/t) and 1,938 koz (0.95 g/t) respectively. Mineral reserves are included in mineral resources.

·; We expect to produce up to 100 koz of gold at Bissa in 2013. Planned capacity of the open pit mine is 4 mt of ore per annum, producing up to 200 koz of gold annually.

Gross

·; The Gross pre-feasibility study was completed in 2012 confirming the economic attractiveness of the project. The first ore from the deposit is expected to be treated towards the end of 2013.

·; The Gross project remains on time and on budget with further improvements in project KPI's expected to be announced in H2 2013.

Exploration Highlights

An updated Mineral Expert Report is expected to be published in April 2013.

Exploration activity for the year includes an extensive drilling programme at Gross, Lefa, Taparko and Neryungri. We expect to see further improvements in the head grades and ore tonnage at some of our mines with additional efforts to increase Company life-of-mine above the industry average. We also expect to see further developments in our advanced exploration projects and will work towards these becoming mining candidates in the near future, both in Russia and West Africa.

Refined gold production by mines (1)

(1) Including 5.2 thousand gold equivalent ounces of silver production for the FY 2012

(2) Including refined gold from Zherek

Safety

We continue to make strides in improving our safety performance and ensuring safety is the absolute priority for everyone at our mine sites.

Safety remains the primary concern for the Board and Management of Nordgold. We remain determined to achieve our objective of Zero Harm for all employees and our contractors at all our mine sites. We recognise we operate in a hazardous environment, but our focus on ensuring our employees return home safely at the end of each shift is absolute. Management and the Board are determined to further improve the Group's overall safety performance.

Whilst we are pleased to report a 11% improvement in the Q4 2012 LTIFR of 1.74 compared to the previous quarter regrettably, we suffered six fatalities in the year. Our condolences are extended to the bereaved families.

Outlook

Nordgold anticipates 2013 full year production in the range of 770 to 850 koz.

Operating Results Summary

Ore processed multiplied by head grade and multiplied by recovery may not be equal to gold produced due to differences in work in progress figures and volumes of silver production

(3) Presented only for open pit mines.

(4) Calculated for total ore mined and waste mined only for open pits

In the twelve months ended December 31, 2012 the Company produced 15,834 kt of mined ore, a 4% increase from 15,250 kt in the twelve months of 2011. Ore milled in the twelve months ended December 31, 2012 decreased to 15,141 kt from 15,562 kt in the twelve months ended December 31, 2011.

Gold production was 5% lower than in 2011 and amounted to 716.9 Koz (twelve months ended December 31, 2011: 754.5 Koz). The decrease was largely as a result of lower ore milled volumes and recovery levels at certain mines. The volume of gold sold decreased from 754.5 Koz in the twelve months ended December 31, 2011 to 717.3 Koz in the same period of 2012.

We provide the mine site data below in the next section.

Ore processed multiplied by head grade and multiplied by recovery may not be equal gold produced due to differences in work in progress figures and volumes of silver production.

Ore processed multiplied by head grade and multiplied by recovery may not be equal gold produced due to differences in work in progress figures and volumes of silver production.

Ore processed multiplied by head grade and multiplied by recovery may not be equal to gold produced due to differences in work in progress figures and volumes of silver production.

Ore processed multiplied by head grade and multiplied by recovery may not be equal gold produced due to differences in work in progress figures and volumes of silver production.

Ore processed multiplied by head grade and multiplied by recovery may not be equal gold produced due to differences in work in progress figures and volumes of silver production.

(4) Technical recovery rate. Actual recovery may differ due to seasonal effects.

Ore processed multiplied by head grade and multiplied by recovery may not be equal gold produced due to differences in work in progress figures and volumes of silver production.

(5) Technical recovery rate. Actual recovery may differ due to seasonal effects.

Ore processed multiplied by head grade and multiplied by recovery may not be equal gold produced due to differences in work in progress figures and volumes of silver production.

(6) Represents figures for Alel

(7) Represents figures for Celtic Group, includes gold from Zherek.

Telephone Conference and Q&A Session

Nordgold CEO Nikolay Zelenski and CFO Sergey Zinkovich will present the Company's operating results for the fourth quarter and twelve months ended December 31, 2012 and provide an update for Bissa in a conference call today at 12.00 pm London time. The presentation will be followed by a Q&A session. To participate in the telephone conference, please register in advance.

Registration Details

Conference Title: Nordgold Presentation of 2012 Full Year Operational Results

Conference ID: 4592186

Please use one of the following dial-in numbers to connect to the conference:

Russia

810-8002-198-4011 (toll free)

United Kingdom

44-20-7190-1590 (local access)

0800-358-5256 (toll free)

USA

1-480-629-9609 (local access)

1-866-225-8725 (toll free)

Webcast

The press and analyst conference will also be broadcast live over the Internet, and will be available as a recording on the Company's website after the conference.

To register and participate in the webcast please follow the link:

Live link (with registration form): http://www.audio-webcast.com/cgi-bin/visitors.ssp?fn=visitor&id=1904

Live link (without registration form): http://nordgold220113-live.audio-webcast.com

Materials

The Company's operating results for the fourth quarter and twelve months ended December 31, 2012 and the presentation materials will be available from 7:00 am London time on January 22, 2013 on the Company's official website: www.nordgold.com and will be available at www.sedar.com.

Enquiries

For further information on Nordgold please visit the Company's website - www.nordgold.com

Notes to Editors

About Nordgold

Nordgold (LSE: NORD) is a pure-play emerging-markets gold producer established in 2007. The Company has expanded rapidly through acquisitions and organic investment, achieving a rate of growth unmatched in the industry during that period. In 2012 Nordgold's gold production was 717 Koz.

The Company's proved and probable gold reserves as of January 1, 2012 totalled 12.7 Moz, while measured, indicated and inferred resources were estimated at 30.2 Moz.

The company operates 9 active mines and has one development project, 5 advanced exploration projects and a diverse portfolio of early exploration projects and licenses in Russia, Kazakhstan, Burkina Faso and Guinea. Nordgold employs about 10,000 workers in CIS and West Africa.

Cautionary Note Regarding Forward-Looking Statements

Certain information contained in this press release, including any information as to Nordgolds estimates, strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance and production, may constitute "forward-looking information" within the meaning of Canadian securities laws. All statements, other than statements of historical fact, constitute forward-looking information. Forward-looking information can often, but not always, be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "predicts", "potential", "continue" or "believes", or variations (including negative variations) of such words, or statements that certain actions, events or results "may", "could", "would", "should", "might", "potential to", or "will" be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. The purpose of forward-looking information is to provide the reader with information about management's expectations and plans. Readers are cautioned that forward-looking statements are not guarantees of future performance. All forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.

Forward-looking information involves significant risks, assumptions, uncertainties and other factors that may cause actual future realities or anticipated events to differ materially from those expressed or implied in any forward-looking information and, accordingly, should not be read as guarantees of future performance or realities. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include the assumption that the business and economic conditions affecting Nordgold's operations will continue substantially in their current state, including, without limitation, with respect to industry conditions, general levels of economic activity, market prices for gold, competition for and scarcity of gold mine assets, achievement of anticipated mineral reserve and mineral resource tonnages or grades, ability to develop additional mineral reserves, acquisition of funding for capital expenditures, adequacy and availability of production, processing and product delivery infrastructure, electricity costs, continuity and availability of personnel and third party service providers, local and international laws and regulations, foreign currency exchange rates and interest rates, inflation, taxes, and that there will be no unplanned material changes to Nordgold's facilities, equipment, customer and employee relations and credit arrangements. Nordgold cautions that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within the control of Nordgold and there is no assurance that they will prove correct. The risks and other factors that may cause actual future realities or anticipated events to differ materially from those expressed or implied in any forward-looking information include, but are not limited to the satisfaction or waiver of the conditions to completing the Offer; Nordgold's ability to execute its development and exploration programs; the financial and operational performance of Nordgold; civil disturbance, armed conflict or security issues at the mineral projects of Nordgold; political factors; the capital requirements associated with operations; dependence on key personnel; compliance with environmental regulations; estimated production; and competition.

Actual performance or achievement could differ materially from that expressed in, or implied by, any forward-looking information in this press release and, accordingly, investors should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made, and Nordgold does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or realities after the date on which such statement is made or to reflect the occurrence of unanticipated events, except as required by applicable Canadian securities laws. All forward-looking information contained in this press release is qualified by such cautionary statements. New risk factors emerge from time to time, and it is not possible for management to predict all of such risk factors and to assess in advance the impact of each such factor on Nordgold's business or the extent to which any factor, or combination of factors, may cause actual realities to differ materially from those contained in any forward-looking information.

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