Nordgold Reports Q3 2012 Financial and Operating Results

Amsterdam, November 21, 2012 – Nord Gold N.V. (LSE: NORD) (“Nordgold”) reminds shareholders of High River Gold Mines Ltd. (“High River”, TSX: HRG) that Nordgold’s offer to acquire the outstanding High River shares not already owned by Nordgold (the “Offer”) is open for acceptance until 12:01 a.m. (Toronto time) on November 27th. To ensure that tendered shares are received by the depositary prior to the expiry time, High River shareholders are encouraged to tender their shares to the Offer as soon as possible.

Nord Gold N.V, (“Nordgold” or the “Company”, LSE: NORD), an independent, internationally diversified, pure-play gold producer strategically focused on emerging markets, announces its financial and operating results for the third quarter and nine months ended September 30, 2012.

Highlights for the quarter

REVENUES

US$322.5 million

Up 27% (US$69.1 million) from Q3 2011; up 22% (US$57.9 million) compared to Q2 2012. YoY growth in revenues was mainly due to higher volume of gold sales (up 29%), which was marginally offset by lower realised gold prices (down 2%).

EBITDA

US$131.5 million

Up 18% (US$20.2 million) from Q3 2011; up 27% (US$28.0 million) compared to Q2 2012. YoY EBITDA was positively impacted by higher production volumes at Lefa, Suzdal, Berezitovy and Aprelkovo. EBITDA margin for Q3 2012 was 41%.

GOLD PRODUCTION

194.0 thousand gold ounces

Q3 2012 gold production of 194.0 thousand gold equivalent ounces (“Koz”), a 17% increase on Q2 2012 (165.3 Koz) and 9% ahead of Q3 2011 (178.4 Koz). Production growth was mainly driven by robust production volumes at Lefa during the wet season and increased recovery rates at Suzdal.

CASH FLOW FROM OPERATING ACTIVITIES AFTER INTEREST AND INCOME TAX PAID

US$68.6 million

Up 76% from Q3 2011; up 218% compared to US$21.6 million in Q2 2012. YoY improvement in cash flow from operating activities was due to higher production volumes and reduced cash costs at certain mines.

• The Company’s cash and cash equivalents at September 30, 2012 were US$102.4 million with net debt at $420.8 million, compared to US$50.5 million cash and cash equivalents at 30 June 2012, giving net debt of $380.4 million. The increase in net debt is largely due to cash used for investing activities, mainly the US$148.7 million payment for construction at Bissa. The work at Bissa is now in its most active phase. The project remains on time and on budget
• In comparison to the previous quarter Q3 2012 total cash costs (“TCC”) decreased by 3% from US$863 to US$837 per ounce. The decrease is a result of the volume effect for fixed costs and SG&A together with higher recovery, lower repair and maintenance expenses, discontinuation of use of hired mining equipment at Lefa mine and a positive forex effect during the period
• Net income for Q3 2012 increased by 32% to US$58.0 million compared to the same period last year, on the back of increased production and EBITDA and favourable exchange rate movements