Lake Shore Gold Corporation (LSG)

[NYBob]

Lake Shore Gold Reports Record Production and Lower Operating Costs
in Second Quarter 2013, Commissioning of Mill Expansion Progressing


08/12/2013
TORONTO, ONTARIO -- (Marketwired -- August 12, 2013) --

Lake Shore Gold Corp.
(TSX:LSG) (NYSE MKT:LSG) ("Lake Shore Gold" or the "Company") today
announced financial and operating results for
the second quarter of 2013.

Key highlights of the results include:

Record gold poured of 31,800 ounces in the second quarter of 2013,
with record gold production of 30,800 ounces and gold sales
totaling 27,600 ounces at an average sale price of US$1,409
($1,441) per ounce.

Cash operating cost per ounce(1) sold during the second quarter of
2013 averaged US$908, including US$28 per ounce related to
royalties.

Excluding inventory movements involving higher cost ounces from
previous periods, cash operating cost per ounce(1) sold averaged
US$798 during the second quarter of 2013 before royalties.

Total all-in sustaining cost ("AISC")(2) during the second quarter
and first six months of 2013 of US$1,257 and

US$1,398,
respectively.

Capital investment during first six months of 2013 totaling $66
million, representing close to three-quarters of target capital
investment for the year.

Excellent progress advancing mill expansion towards completion, with
commissioning starting near end of July and new crushing/grinding
circuit now operational and ramping to 3,000 tonnes per day.

Earnings from mine operations for the second quarter and the first
six months of 2013 of $1.8 million and $5.7 million respectively,
compared to $3.2 million and $4.5 million, respectively, in same periods in 2012.

Year-to-date increase reflects 36% growth in commercial sales, which
more than offset impact of lower gold prices.

2013 guidance maintained, including production of
between 120,000 and 135,000 ounces of gold,
cash operating cost per ounce(1) sold in a range of US$800 - US$875 and
capital investment of approximately $90 million.

http://www.lsgold.com/Investor-Centre/Press-Releases/Press-Release-Details/2013/Lake-Shore-Gold-Reports-Record-Production-and-Lower-Operating-Costs-in-Second-Quarter-2013-Commissioning-of-Mill-Expansion-Progressing/default.aspx

http://www.lsgold.com/Investor-Centre/Presentations/default.aspx

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