TORONTO, ONTARIO--(Marketwire - Aug. 28, 2012) - Royal Oak Ventures Inc. (CNSX:ROV)(CNSX:ROV.B) ("Royal Oak" or the "company") reported net income of $0.1 million or $nil per common share for the quarter ended June 30, 2012 compared to a net loss of $0.1 million or $nil per common share in the corresponding period in 2011. The increase in net income in comparison to the prior year is primarily the result of a higher amount of investment income generated on the company's investment portfolio and a reduction of operating costs.

The company recorded a comprehensive loss of $0.3 million for the quarter ended June 30, 2012 compared with a loss of $0.7 million in the comparative quarter in 2011. Comprehensive loss in the current quarter consisted of net income of $0.1 million (2011 - net loss of $0.1 million) and other comprehensive loss of $0.4 million (2011 - $0.6 million).

The company recorded pre-tax unrealized losses of $0.5 million in other comprehensive loss in the current quarter (2011 - $0.7 million), as a result of a decrease in the fair value of the company's marketable securities portfolio.

In July of 2012, the company completed the listing of its common voting and non-voting shares on the CNSX under the symbols "ROV" and "ROV.B" respectively.

STATEMENTS OF OPERATIONS

		Three months ended June 30						Six months ended June 30
(Thousands, except per share amounts)		2012			2011			2012		2011
Revenue
	Interest and dividend income	$	241		$	225		$	462	$	445
Expenses
	General, administrative and other		97			261			156		380
			144			(36	)		306		65
Foreign currency revaluation			27			11			68		9
Income (loss) before income taxes			171			(25	)		374		74
Deferred income tax (expense) recovery			(61	)		(65	)		25		9
Net income (loss)		$	110		$	(90	)	$	399	$	83
Net income per share		$	−		$	−		$	−	$	−

CHANGES IN NET BOOK VALUE

The net book value per common share as at June 30, 2012 was $0.20. The information in the following table shows the changes in net book value for the three and six months ended June 30, 2012 and 2011.

Three months ended June 30

Six months ended June 30

2012

2011

2012

2011

(Unaudited)
(Thousands, except per share amounts)

Total

Per Share⁽¹⁾

Total

Per Share

Total

Per Share⁽¹⁾

Total

Per Share

Net book value, beginning of period ⁽²⁾

$ 33,821

$ 0.21

$ 35,092

$ 0.21

$ 32,927

$ 0.20

$ 34,212

$ 0.21

Net income (loss)

110

−

(90

)

−

399

−

Other comprehensive (loss) income

(431

)

(0.01

)

(592

)

−

174

−

115

−

Comprehensive (loss) income

(321

)

(0.01

)

(682

)

−

573

−

198

−

Net book value, end of period⁽²⁾

$ 33,500

$ 0.20

$ 34,410

$ 0.21

$ 33,500

$ 0.20

$ 34,410

$ 0.21

(1)	As at June 30, 2012 and December 31, 2011 the company was capitalized with 3,157,189 common voting shares and 159,339,267 non-voting shares, which are referred to collectively as "common shares"
(2)	Net book value is a non-IFRS measure

STATEMENTS OF FINANCIAL POSITION

The information in the following table has been extracted from the company's statements of financial position as at June 30, 2012 and December 31, 2011.

(Thousands, except per share amounts)		June 30, 2012		December 31, 2011
Assets
Current assets
	Cash and cash equivalents	$	8,532	$	7,742
	Marketable securities		21,409		21,162
	Accounts receivable		128		134
	Loans receivable		3,988		4,007
		$	34,057	$	33,045

Liabilities and equity
Current liabilities
	Accounts payable and accrued liabilities	$	557	$	118
Equity			33,500		32,927
		$	34,057	$	33,045

Net book value per share ^(1,2)		$	0.20	$	0.20

(1)	As at June 30, 2012 and December 31, 2011 there were 162,496,456 common shares issued and outstanding
(2)	Net book value is a non-IFRS measure

N@N

Royal Oak Announces Second Quarter Results

Royal Oak Announces Second Quarter Results