Robex Resources Inc. Generated Cash Flow From Operating Activities of $11.3 Million in the First Quarter of 2018 for Revenues of $20.6 Million

QUEBEC CITY, May 30, 2018 (GLOBE NEWSWIRE) -- Robex Resources Inc. ("Robex" and / or "the Company") (TSX-V:RBX) (FRANKFURT:RB4) is pleased to publish their financial results for the quarter ended March 31, 2018.

All amounts are in Canadian dollars.

Highlights for the first quarter of 2018
(Compared to the same period in 2017)

• INCREASE OF IN GOLD PRODUCTION OF 54%
  Gold production of 11,989 ounces (372.9 kg) compared to 7,771 (241.7 kg) ounces for the same period in 2017             

• INCREASE IN SALES (REVENUES) OF 66%
  Gold sales of $20.6 million compared to $12.4 million for the same period of 2017             

• INCREASE IN OPERATING INCOME BY 56%
  Operating income of $6.9 million compared to $4.4 million for the same period in 2017             

• INCREASE IN ADJUSTED NET RESULTS ATTRIBUTABLE TO SHAREHOLDERS² OF 78%
  Net income attributable to equity shareholders² of $4.8 million or $0.008 per action² compared to $2.7 million or $0.005 per action² for the same period in 2017

• INCREASE IN CASH FLOWS FROM OPERATING ACTIVITIES¹ OF 88%
  Cash flows from operating activities¹ of $9.6 million or $0.017 per action2 compared to $5.1 million or $0.009 per action2 for the same period in 2017

• DECREASE IN TOTAL COST² OF $26 PER SOLD OUNCE
  Total cash cost² of $638 per ounce sold compared to $664 per ounce sold for the same period in 2017

• DECREASE IN THE COMPANY'S LIABILITIES OF $2.2 MILLION
  Decrease in the Company's liabilities of $2.2 million compared to December 31, 2017             

• INCREASE IN EQUITY OF $9.2 MILLION
  Increase in value to the shareholders (book value) of $9.2 million compared to December 31, 2017

Mining operation: Nampala, Mali

	First quarters ended March 31,
	2018		2017
Operating Data
Ore mined (tonnes)	491,342		270,721
Ore processed  (tonnes)	445,226		359,945
Waste mined (tonnes)	1,047,870		616,567
Operational stripping ratio*	2.1		2.3
Head grade  (gpt)	0.93		0.93
Recovery (%)	83.9	%	85.9	%
Gold ounces produced	11,989		7,771
Gold ounces sold	11,989		7,548
Financial Data
(rounded to the nearest thousand dollars)
Revenues - Gold sales	20,573,000		12,405,000
Mining operation expenses	6,973,000		4,718,000
Mining royalties	672,000		294,000
Administrative expenses	1,549,000		816,000
Depreciation of property, plant and equipment and amortization of intangible assets	2,906,000		1,597,000
Segment operating income	8,473,000		4,980,000
Statistics
(in Canadian dollars)
Average realized selling price per ounce	1,716		1,643
Cash operating cost per tonne processed3	14		14
Total cash cost per ounce sold3	638		664
All-in sustaining cost per ounce sold3	1,019		945
Administrative expenses per ounce sold	129		108
Depreciation of property, plant and equipment per ounce sold	242		212

ROBEX'S MD&A and the consolidated financial statements are available on the Company's website in the Investors section at: Robexgold.com. These reports and other documents produced by the Company are also available at Sedar.com.