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RNC is a multi-asset mineral resource company with a portfolio of gold and base metal production and exploration properties. RNC's principal assets are the producing Beta Hunt gold and nickel mine in Western Australia, a 50% interest in a nickel joint venture with Waterton that holds the Dumont Nickel Project in the Abitibi region of Quebec, and a 30% stake in the producing Reed Mine in the Flin Flon-Snow Lake region of Manitoba, Canada. Through its majority stake in Orford Mining Corporation (TSX-V: ORM), RNC also has interests in the West Raglan and Qiqavik projects in Northern Quebec and properties in the U.S. Carolina Gold Belt. RNC has a strong management team and Board with over 100 years of mining experience at Inco and Falconbridge. RNC's common shares trade on the TSX under the symbol RNX. RNC shares also trade on the OTCQX market under the symbol RNKLF.


http://www.rncminerals.com/


RNC Announces Q3 2017 Results
RNC will host a call/webcast on November 15 at 10:00 a.m. (Eastern Time) to discuss Q3 2017 results. North American callers please dial:  1-888-231-8191, international callers please dial: (+1) 647-427-7450. For the webcast of this event click [here] (replay access information below).

TORONTO, Nov. 15, 2017 /CNW/ - RNC Minerals (TSX: RNX) ("RNC") announces its review of activities and financial results for the quarter ended September 30, 2017. All amounts are expressed in Canadian dollars, unless otherwise noted, and are based on the unaudited financial statements for the quarter ended September 30, 2017.

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Mark Selby, President and CEO, commented, "Beta Hunt continued its strong quarter-over-quarter performance improvement during the third quarter, as increases in gold grades and mining rates led to a 27% increase in production. The mine exited the quarter with annualized gold production for the month of September exceeding 54,000 ounces and gold grades of 2.53 g/t. With the ramp-up in production and improvement in grades, mining cash costs declined from US$1,211 in the second quarter to US$578 per ounce in September 2017. We expect costs to continue to improve as production ramps up through the remainder of 2017 and to exit the year at an annualized production rate of over 70,000 ounces of gold. Given the level of reported production through the first three quarters, guidance for 2017 has been reduced to 37,000 to 42,000 contained ounces of gold and cost guidance has been adjusted accordingly."

Q3 2017 and Recent Highlights

Mined gold production at Beta Hunt during the third quarter was 10,489 ounces, up 27% compared to the 8,281 ounces produced in the second quarter of 2017 and gold tonnes mined was 145.5 kt in the third quarter of 2017, up 18% compared to the 123.1 kt mined in the second quarter of 2017. Gold sales were 8,659 ounces, an increase of 47% compared to 5,891 ounces sold in the second quarter of 2017.

For the third quarter of 2017, gold mining cash cost per ounce decreased by 34% to US$804 per ounce from US$1,211 per ounce in the second quarter. On a cost per ounce sold basis, gold cash costs, net of by-product credits, decreased by 15% to US$1,439 per ounce sold, and all-in sustaining costs net of by-product credits decreased by 12% to US$1,569 per ounce sold, compared to US$1,687 and US$1,786, respectively, in the second quarter of 2017. As production volumes ramp up and grades continue to improve, costs are expected to decline toward target levels. Reference is made to the Non-IFRS Measures section in RNC's MD&A for the period ended September 30, 2017.

Reed Mine third quarter 2017 copper contained in concentrate production was 2.7 million pounds (1.21 kt) (30% basis) compared to second quarter production of 3.1 million pounds (1.41kt) (30% basis). Cash costs decreased by 2% to US$1.55 per pound sold and all-in sustaining costs decreased by 5% to US$1.57 per pound sold, compared to US$1.58 and US$1.66 in the second quarter of 2017. RNC's share of gold in concentrate production for the third quarter of 2017 from the Reed Mine was 300 ounces. Reference is made to the Non-IFRS Measures section in RNC's MD&A for the period ended September 30, 2017.

Excluding a non-cash impairment charge of $1.9 million, combined operating loss from Beta Hunt and Reed Mine was $3.1 million for the three months ended September 30, 2017.



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