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NORD RESOURCES REPORTS THIRD QUARTER RESULTS

 NORD RESOURCES REPORTS THIRD QUARTER RESULTS
 DAYTON, Ohio, Nov. 13 /PRNewswire/ -- Nord Resources Corporation


(NYSE: NRD) today announced results of operations for the third quarter ended Sept. 30, 1992. Revenues for the third quarter of 1992 increased to $28,942,000 compared to third quarter 1991 revenues of $26,964,000. A loss from continuing operations of $173,000, or $.01 per share, was incurred in the third quarter of 1992 compared to a loss of $3,121,000, or $.21 per share, in the third quarter of 1991. A loss from discontinued operations of $1,500,000, or $.10 per share, was recorded in the third quarter of 1992 compared to a loss of $514,000, or $.03 per share, in the third quarter of 1991. This was due to the company's decision to revise the estimated loss on disposal of its Perlite operation. For the 1992 third quarter in total, the company incurred a net loss of $1,673,000, or $.11 per share, compared to a net loss of $3,635,000, or $.24 per share, in the third quarter of 1991.
 For the nine months ended Sept. 30, 1992, the company incurred a loss from continuing operations of $5,979,000, or $.40 per share on revenues of $74,941,000 compared to a loss of $7,574,000, or $.50 per share, on revenues of $81,207,000 for the same period in 1991. Discontinued operations incurred a loss for the first three quarters of 1992 of $1,500,000, or $.10 per share, compared to $1,629,000, or $.11 per share, for the first three quarters of 1991. For the first three quarters of 1992, the company incurred a net loss of $7,479,000, or $.50 per share, compared to a net loss in the same period of 1991 of $9,203,000, or $.61 per share.
 An increase in sales volume, primarily in the third quarter of 1992, along with a decrease in cost of sales, was more than enough to compensate for generally lower average sales prices and resulted in the decreased loss in 1992 compared to 1991.
 Operating losses were also reduced in the third quarter of 1992 by $1,050,000 of other revenue recognized in connection with the settlement of more than $2 million with two individual defendants of litigation instituted by the rutile division against a number of defendants.
 Revenues from the rutile segment for the first three quarters of 1992 were $52,300,000 compared to $58,300,000 in the same period of 1991. Revenues for the third quarter of 1992 were $21,400,000 compared to $19,700,000 in the 1991 third quarter. The lower revenues in the first three quarters of 1992 were caused by 2 percent fewer tons sold and an average decrease in sales prices of rutile of 12 percent. However, in the third quarter of 1992, tons of rutile sold increased by 16 percent and production in 1992 third quarter exceeded the 1991 third quarter by 8 percent. Sales prices in the 1992 third quarter declined by 8 percent over the 1991 third quarter prices. The company anticipates lower average prices for its rutile will continue throughout 1992.
 Operating earnings in the rutile segment for the first three quarters of 1992 were $7,500,000 compared to $7,700,000 in the same period in 1991. In the 1992 third quarter, operating earnings were $4,800,000 compared to $2,300,000 in the third quarter of 1991. This improvement was caused by the increased volume of sales and improved cost of sales margins due to lower production costs. The fourth quarter of 1992 is expected to also benefit from higher and less costly production of the Lanti deposit as well as a higher volume of sales but at prices lower than in 1991.
 Revenues from the kaolin operation increased in the first three quarters ended September 30, 1992, to $20,518,000 from $19,138,000 in the same period of 1991. Revenues for the third quarter of 1992 increased to $6,920,000 compared to $6,568,000 in the third quarter of 1991. This increase is due mainly to the higher volume of Norplex(R) and Norcal(TM) products sold in the third quarter of 1992. For the first three quarters of 1992 conventional product sales decreased to 158,000 tons from 196,000 tons in the same period in 1991. Sales of conventional product decreased to 46,400 tons in the 1992 third quarter from 66,500 tons in the 1991 third quarter. More importantly, sales of all Norplex(R) products increased to 8,200 tons in the first three quarters of 1992 compared to 4,100 tons in the same period in 1991. Sales of all Norplex(R) products for the 1992 third quarter were 4,500 tons compared to 1,400 tons in the 1991 third quarter. Average selling prices, however, have decreased due to the sales mix of new Norplex(R) products and pricing pressures.
 As announced earlier in the year, the company has entered into a letter of intent with Kemira Oy of Helsinki, Finland, to sell a 20 percent interest in the kaolin division for $10 million in a combination of cash and materials. This agreement would give Kemira the option to purchase an additional 31 percent of Nord Kaolin Company over a four year period. The closing of this transaction is subject to the execution of the agreements, which have been approved by both parties, and approval by certain of the company's lenders and lessors. It is anticipated that the definitive agreement and required approvals will be finalized before the end of the year.
 Nord Resources Corporation is a major producer of rutile (a premium titanium dioxide mineral) and kaolin, and holds a significant interest in Nord Pacific Limited (NASDAQ: NORPF), a company engaged in the exploration for and development of precious, strategic and base metals.
 A summary of the consolidated statement of earnings follows:
 FOR THE QUARTER ENDED SEPT. 30 1992 1991
 Revenues $28,942,000 $26,964,000
 (Loss) from Continuing
 Operations ( 173,000) (3,121,000)
 (Loss) from Discontinued
 Operations (1,500,000) ( 514,000)
 Net (Loss) $(1,673,000) $(3,635,000)
 Net (Loss) per share
 From Continuing Operations $ (.01) $ (.21)
 From Discontinued Operations $ (.10) $ (.03)
 Net (Loss) $ (.11) $ (.24)
 Avg. shares outstanding 15,125,000 15,130,000
 FOR THE THREE QUARTERS
 ENDED SEPTEMBER 30, 1992 1991
 Revenues $74,941,000 $81,207,000
 (Loss) from Continuing
 Operations (5,979,000) (7,574,000)
 (Loss) from Discontinued
 Operations (1,500,000) (1,629,000)
 Net (Loss) $(7,479,000) $(9,203,000)
 Net (Loss) per share
 From Continuing Operations $ (.40) $ (.50)
 From Discontinued Operations $ (.10) $ (.11)
 Net (Loss) $ (.50) $ (.61)
 Avg. shares outstanding 15,121,000 15,111,000
 -0- 11/13/92
 /CONTACT: Terence H. Lang, senior vice president-finance, or Susan Shahan, director of shareholder relations, both of Nord Resources Corp., 513-433-6307/
 (NRD) CO: Nord Resources Corporation ST: Ohio IN: MNG SU: ERN


KK -- CL003 -- 0547 11/13/92 09:06 EST
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