Acacia Mining plc (“Acacia’’) reports full year 2014 results

“2014 was a watershed year for Acacia as we returned to free cash generation for the first time since 2011, exceeding our
initial production guidance and reducing all-in sustaining costs (AISC) year-on-year by 18%. Coupled with this we completed
our rebranding to reflect our new approach to running the business, set out our five year plan for the Company and expanded
our footprint into West Africa,” said Brad Gordon, Chief Executive Officer of Acacia Mining. “We have continued to deliver
operationally and demonstrated consistent cost control which has meant that we have now exceeded the planned savings set
out by the Operational Review 18 months ago. For 2015 we expect a further increase in production to 750,000 to 800,000
ounces of gold, predominantly in the second half, at reduced AISC of US$1,050 to US$1,100 per ounce sold driven by further
operational improvements and the planned ramp up at Bulyanhulu.”

Full Year Financial Highlights
 Revenue of US$930 million in line with 2013, as increased ounces sold offset the lower gold price
 EBITDA1,3 of US$253 million, 5% higher than 2013, impacted by non-cash charges of US$27 million
 Net earnings3 of US$90 million (US22.1 cents per share)
 Operational cash flow increased to US$290 million, a 55% increase on 2013
 Cash position increased by US$11 million to stand at US$294 million as at 31 December 2014
 Capital expenditure of US$254 million, 34% lower than 2013 due to revised mine plans and stringent capital controls
 Proposed final dividend of US2.8 cents per share, total dividend for 2014 of US4.2 cents per share, up 40% on 2013

Full Year Operational Highlights
 Gold production of 718,651 ounces, 13% higher than 2013, with gold sales of 703,680 ounces
 AISC1,2 of US$1,105 per ounce sold, 18% lower than 2013
 Cash costs1,2 of US$732 per ounce sold, 10% lower than 2013
 Operational Review cost reductions of US$185 million delivered as planned
 Bulyanhulu CIL Expansion project fully commissioned in the fourth quarter
 Gokona Underground project approved by the Board and moving ahead into execution phase
 2.3Moz of resources added at Bulyanhulu as a result of drilling programmes
 Greenfield exploration progressed well with continued positive results in West Kenya and entry into Burkina Faso