Acacia Mining PLC Response to Media Speculation (1891F)

TIDMACA

RNS Number : 1891F

Acacia Mining PLC

16 February 2018

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

16 February 2018

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Acacia Mining plc

("Acacia" or the "Company")

Response to Media Speculation

In light of recent media speculation, the Company confirms that, in response to a number of expressions of potential interest from Chinese counter-parties, it has commenced a process to explore the value to the Company of the sale of a stake in some or all of its Tanzanian operations.

The Company is engaging with a small number of potential investors, the process remains at a very early stage and there can be no certainty that an agreement will be reached.

Acacia continues to support the ongoing negotiations between the Government of Tanzania and Barrick Gold Corporation, Acacia's majority shareholder, in seeking to identify a detailed proposal to present to Acacia for review. Acacia remains committed to shareholder value and evaluates all opportunities against strict strategic and financial criteria and any transaction will be pursued only if it is determined by Acacia's Board to be in the best interests of all shareholders.

The Company confirms that it has not received an approach from any third parties to acquire shares in the Company.

ENQUIRIES

For further information, please visit our website: www.acaciamining.com or contact:

Acacia Mining plc [phone]

Giles Blackham, Head of Investor Relations

Camarco [phone]

Gordon Poole / Nick Hennis

Disclaimer and forward-looking statements

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of Acacia in any jurisdiction.

This announcement includes "forward-looking statements" that express or imply expectations of future events or results as opposed to historical facts. These statements include, financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future production, operations, costs, projects, and statements regarding future performance. Forward-looking statements are generally identified by the words "plans," "expects," "anticipates," "believes," "intends," "estimates" and other similar expressions.

All forward-looking statements involve a number of risks, uncertainties and other factors, many of which are beyond the control of Acacia, which could cause actual results and developments to differ materially from those expressed in, or implied by, the forward-looking statements contained herein. Factors that could cause or contribute to differences between the actual results, performance and achievements of Acacia include, but are not limited to, changes or developments in political, economic or business conditions or national or local legislation or regulation in countries in which Acacia conducts - or may in the future conduct - business, industry trends, competition, fluctuations in the spot and forward price of gold or certain other commodity prices (such as copper and diesel), currency fluctuations (including the US dollar, South African rand, Kenyan shilling and Tanzanian shilling exchange rates), Acacia's ability to successfully integrate acquisitions, Acacia's ability to recover its reserves or develop new reserves, including its ability to convert its resources 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 mining activities, operational or technical difficulties which may occur in the context of mining activities, delays and technical challenges associated with the completion of projects, risk of trespass, theft and vandalism, changes in Acacia's business strategy and ongoing implementation of operational reviews, as well as risks and hazards associated with the business of mineral exploration, development, mining and production and risks and factors affecting the gold mining industry in general.

Although Acacia's management believes that the 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 statements contained in this announcement. Any forward-looking statements in this announcement only reflect information available at the time of preparation. Save as required under the Market Abuse Regulation or otherwise as may be required under applicable law, Acacia explicitly disclaims any obligation or undertaking publicly to update or revise any forward-looking statements in this announcement, whether as a result of new information, future events or otherwise. Nothing in this announcement should be construed as a profit forecast or estimate and no statement made should be interpreted to mean that Acacia's profits or earnings per share for any future period will necessarily match or exceed its historical published profits or earnings per share.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 16, 2018 11:50 ET (16:50 GMT)