Acacia Mining plc reported production results for the first quarter of 2018. Group gold production for the quarter was in line with expectations at 120,981 ounces, a 55% decrease on first quarter of 2017 which was 219,620 ounces, primarily driven by the move to reduced operations at Bulyanhulu and to stockpile processing at Buzwagi. Gold ounces sold for the quarter of 116,955 ounces were slightly below gold produced for the quarter as a result of the timing of shipments. At North Mara, gold production for the quarter of 76,769 ounces was, as expected, 20% lower than first quarter of 2017's strong, grade-driven performance of 96,468 ounces. This was primarily due to lower head grade, driven by the underground mine grade of 7.0 grams per tonne being 28% lower than the prior year period as a result of mining
taking place in the lower-grade west zone of the Gokona Underground. At Buzwagi, gold production of 35,685 ounces for first quarter of 2018 was 41% lower than in first quarter of 2017 which was 59,856 ounces as a result of production now being derived from lower grade ore stockpiles due to the effective completion of the
open pit. At Bulyanhulu, gold production for the quarter amounted to 8,527 ounces, 87% below first quarter of 2017 which was 63,346 ounces. During the quarter all production came from the retreatment of tailings as a result of the underground mine being placed on reduced operations in late 2017.

For the full year 2018, the company expects to production to be in the range of 435,000 ounces to 475,000 ounces.