Alacer Gold announces completion of major strategic review

TORONTO, Feb. 10, 2013 /CNW/ - Alacer Gold Corp. ("Alacer") [TSX: ASR and ASX: 
AQG] announces the completion of its major strategic review. Alacer will be 
focused on the following four key strategic objectives: 
1. Maximize free cash flow
  2. Maximize portfolio value
  3. Minimize project risk
  4. Return value to shareholders 
In keeping with these objectives and as a result of a systematic strategic 
review of all of Alacer's operations and exploration assets, Alacer is pleased 
to announce the following major developments: 

    --  Maximize Free Cash Flow: Alacer is focused on continuously
        improving its cost base, as evidenced by its recent
        demobilization of two open-pit mining fleets, the reduction of
        the workforce in Australia, and the targeting of higher-grade
        mining opportunities.

--  Maximize Portfolio Value:
  o Capitalizing on Çöpler's World-Class Potential:  Alacer has 

    identified a superior development approach for this asset which
    should substantially improve its economic returns, reduce capital

intensity, and reduce implementation risk.
  o Significant Improvements in Australia:  Substantial changes to the 

    mine planning at SKO and an improving grade profile at Higginsville
    should yield significantly improved cash flow and value from

Alacer's Australian assets going forward.
  o Non-Core Asset Sale:  Alacer has entered into a binding agreement 

    for the sale of its 49% minority interest in the Frog's Leg Mine
    and an 18-month toll treatment agreement with a total transaction

value of approximately $171 million.
  o Targeted, Significant Exploration:  Alacer has revised its 

    exploration priorities to place substantial focus on those targets
    with the greatest potential to return significant and immediate
    value, including oxide ore in the Çöpler District, line-of-lode at
    Higginsville, and SKO, which lies in the very highly endowed
    Boulder-Lefroy Fault between the world-class gold deposits of
    Kalgoorlie's Golden Mile and the St. Ives District in the Eastern
    Goldfields of Western Australia.
    --  Minimize Project Risk:  Across its entire asset portfolio,
        Alacer has worked to ensure that the approach to any project is
        focused on minimizing project execution risk and lowering
        capital intensity.

--  Return Value to Shareholders
  o Immediate Cash Distribution:  As a result of the sale of Alacer's 

    49% interest in the Frog's Leg Mine, Alacer intends to make a
    distribution to shareholders of approximately $70 million as a

special dividend.
  o Dividend Policy:  Alacer will adopt a dividend policy to return a 
minimum of 20% of free cash flow to shareholders annually beginning 

    in 2014.

Alacer will host a conference call on Monday, February 11 at 4:30 pm (North 
America Eastern Standard Time) and Tuesday, February 12 at 8:30 am (Australian 
Eastern Daylight Time) to discuss the strategic review in detail. Conference 
call details are provided below.

Mr. David Quinlivan, President and CEO of Alacer stated, "2013 will be a 
back-to-basics year for Alacer from an operational perspective as we focus on 
gold production to maximize free cash flow. In Turkey, we are very excited at 
having identified a superior, staged project development approach that should 
yield far better project returns. The decision to take a staged approach to 
the development of Çöpler demonstrates our disciplined approach to project 
development and risk management.

In Australia, improved cash flow will come from mining higher grade zones 
while we continue our extensive exploration programs in Australia's richest 
gold belt. The sale of the Frog's Leg Mine crystallizes full value for 
Alacer's non-controlling, minority interest, and the cash realized will be 
used to repay debt and return capital to shareholders.

Our focus is to produce the highest-margin ounces available in order to 
improve total shareholder returns and the measures we are putting in place to 
contain costs and improve grades across all of our operations should improve 
Alacer's operating and financial performance. I'm confident that the new 
operating philosophy will provide greater operational predictability and 
should allow Alacer to deliver on its guidance."


Çöpler Development

In parallel with the work on the whole ore pressure oxidation definitive 
feasibility study ("Definitive Feasibility Study"), Alacer has completed a 
first-principles analysis of how to maximize the value of the world-class 
orebody at Çöpler. While a draft of the Definitive Feasibility Study 
confirmed that processing Çöpler refractory ore using whole ore pressure 
oxidation is technically and economically feasible, with comparable economics 
to those presented in the Çöpler Prefeasibility Study, a review of a number 
of alternative approaches has identified a development plan that should 
significantly improve returns with lower project risk. Combined with the 
substantial oxide ore exploration potential that has been identified in the 
Çöpler District, as discussed in more detail below, Alacer believes that the 
best approach for Alacer to achieve its key strategic objectives of maximizing 
free cash flow, maximizing portfolio value, minimizing project risk, and 
returning value to shareholders at this world-class asset is as follows:
    --  Oxides:  Construct a conventional carbon-in-leach treatment

    plant for oxide ore (the "Oxide Mill")
  o Based on existing resources, the Oxide Mill would be expected to 
have a mine life of approximately three years
  o Any additional oxide ore reserves identified by the Çöpler District 
exploration program (see Çöpler District Exploration Update section 
below) would likely add substantially to the Oxide Mill economics
  o Following completion of milling of the existing reserves and any 

    additional reserves identified by the exploration program, the
    Oxide Mill would reprocess approximately five additional years of

heap-leach residues
  o Capital cost could likely be financed entirely from internal cash 
  o Test work necessary to finalize design and engineering proceeding 
as a top priority
  o On completion of test work and studies, a decision to proceed and 

    commencement of construction is expected in Q3 2013, subject to the
    receipt of necessary permits
    --  Sulfides:  Construct a flotation circuit to provide concentrate
        for sale or processing through a smaller-scale pressure

    oxidation facility or an ultra-fine grinding circuit.
  o De minimis additional capital expenditure requirement following the 

    construction of the Oxide Mill

In addition to the above, the clay sizer and materials handling circuit 
project and new agglomerator project are currently on-track to be operational 
during the second half of 2013 and should result in increased margins from 
Çöpler's current heap-leach operations.

Çöpler is a long-life mine with substantial production potential that will 
be developed in a disciplined and prudent manner. Alacer is committed to 
maximizing the value of this world-class orebody in a manner that maximizes 
free cash flow.

Çöpler District Exploration Update

Alacer believes that the Çöpler Mine is likely to be the first of several 
significant gold deposits to be discovered and mined in the Çöpler District, 
an area defined as comprising approximately 225km(2) surrounding the Çöpler 
Mine, and held under license by Alacer and its Turkish partner. The Çöpler 
District is Alacer's highest priority area for gold exploration and discovery.

In 2012, the first systematic, wide-spaced 200m x 200m spaced soil sampling 
geochemical program was completed near the eastern and northwestern margins of 
the Çöpler District (see Figure 1). Although by the end of 2012, only 17% 
(approximately 45km(2)) of the Çöpler District had been sampled by surface 
geochemistry, this program was highly successful in defining significant new 
gold-in-soil anomalies over a 12km strike length. Gold anomalies up to 
several grams per tonne require follow-up exploration and drilling. 
Importantly, in spite of limited drilling, oxide gold mineralization has been 
intersected in each area of gold anomalism tested to date in the Çöpler 

The defined 12km-long gold-in-soil anomaly, together with the oxide gold in 
mineralization having been intersected in early-stage drilling, demonstrates 
    --  soil geochemistry is an effective and inexpensive exploration
        tool in defining surface gold anomalism around Çöpler; and
    --  there is excellent prospectivity for additional oxide gold
        discoveries to be made in the Çöpler District.

Figure 1 - Geochemical plan of the Çöpler District (blue outline) showing 
the extent of soil geochemistry surveys completed (approximately 17% of the 
surface area of the Çöpler District) and gold anomalism >30ppb (parts per 
billion) shown in red within the surveyed area. Note the 12km long anomalous 
zone on the eastern margin of the Çöpler District. Also shown are all 
drilling collars (blue dots) outside the Çöpler Mine and selective higher 
grade oxide intersections identified from the limited drilling completed to 
date. All intersections are estimated between 50-100% of true width. A full 
list of drilling results in these areas is available at

An exploration investment of $32 million ($19 million attributable to Alacer) 
in Turkey is planned to be made during 2013. This large investment is 
primarily aimed at commencing drill testing of numerous near-surface oxide 
gold targets recently defined in the Çöpler District as well as at defining 
the outer limits of the oxide gold resource at the Çöpler Mine.

Australian Business Unit ("ABU") Review

Since August 2012, a strategic and operational review has been identifying 
opportunities to maximize value and improve shareholder returns from Alacer's 
assets in Australia. The key outcomes from this review are summarized below.

Higginsville Gold Operations ("HGO")

At HGO a number of opportunities exist to increase cash margins and to 
optimize the assets, such as reducing the overall tonnage of ore mined and 
processed with a focus on the extraction of ore from higher grade zones, 
rather than keeping the mill full with marginal open-pit ore.

HGO is in a transitional period as mine development approaches the higher 
grade ore bodies at both Trident (Artemis/Helios) and Chalice 
(Grampians/Olympus). This sets HGO up for strong cash flow generation 
beginning in 2H 2013 from increased gold production and lower unit costs with 
less capital expenditure.

Initial steps taken in Q4 2012 to improve cash flow from mining at HGO include:
    --  Reduction in total workforce by 61 people (Q4 2012 saving of
        approximately $3 million);
    --  Review and rationalization of mine plans to minimize capital
        and operating development;
    --  Review of equipment requirements for the Trident and Chalice
        underground mines;
    --  Postponement of the development of the Corona exploration
        decline; and
    --  Cessation of mining lower grade open pits.

Continuous improvement in both the operational and cost performance at HGO 
remains an ongoing priority.

Higginsville Exploration

Higginsville's exploration investment of $16 million in 2013 is targeting 
discoveries and resource extensions that would extend HGO's planned gold 
production of more than 150,000 ounces per annum beyond 2017.

Drilling is planned to test both the down-plunge continuity of the Trident and 
Chalice orebodies during 2013 and this drilling has a high probability of 
adding further resources and reserves. Drilling in the Chalice area will 
also test for satellite ore deposits near the Chalice mine.

In addition to this mine extension work, multiple drill targets have been 
generated by the recently-completed Higginsville line-of-lode framework 
diamond drilling program. Drilling in the Challenge area during 2013 will test 
several recently-defined, mineralized structures with individual high-grade 
drill intercepts.

Sale of Frog's Leg Mine

Alacer has entered into a binding asset sale and purchase agreement with La 
Mancha Resources Australia Pty Limited ("La Mancha") to sell La Mancha its 49% 
minority interest in the Frog's Leg Mine joint venture, its 24.5% interest in 
the Lake Greta joint venture and its 40% interest in the Avoca joint venture 
(the "Frog's Leg JVs") and to provide toll milling services to La Mancha for 
18 months using its Jubilee processing facility located at its South 
Kalgoorlie Operations. The total aggregate value of these transactions is 
approximately A$166 million (or approximately $171 million based on the A$/$ 
exchange rate on February 8, 2013).

Under the sale agreement, Alacer will receive approximately A$141 million for 
its interest in the Frog's Leg JVs. The Lake Greta and Avoca joint ventures 
are exploration stage projects. The sale of the Frog's Leg JVs is subject to 
customary negotiated terms and conditions, and completion of the transactions 
is subject to certain conditions, including the approval of the Foreign 
Investment Review Board in Australia.

Under the 18-month toll treatment agreement, La Mancha will pay Alacer 
approximately A$25 million in six equal, advance quarterly payments beginning 
on February 22, 2013 and ending on April 1, 2014. In addition, certain 
amounts are payable for variable costs based on the actual use of certain key 
consumable items at the Jubilee processing facility. The obligation to 
toll-treat ore for La Mancha continues until 345 days of processing capacity 
has been provided, which is expected by June 30, 2014 (subject to processing 
schedule changes and force majeure events). The terms of the current Frog's 
Leg Joint Venture Agreement will operate until completion of the sale and 
purchase agreement.

Pending completion of the sale of the Frog's Leg JVs, La Mancha and Alacer 
entered into an interim 12-month toll treatment agreement under which toll 
milling services are provided for ore produced from Frog's Leg on 
substantially the same terms as pursuant to the 18-month toll treatment 
agreement. Unless terminated earlier, the obligation to toll-treat the 
Frog's Leg ore pursuant to the interim toll treatment agreement continues 
until 230 days of processing capacity has been provided (subject to processing 
schedule changes and force majeure events). Any amounts paid pursuant to the 
interim toll treatment agreement shall be deemed to have been paid under the 
18-month toll treatment agreement on completion of the sale of the Frog's Leg 

South Kalgoorlie Operations ("SKO")

Gold production at SKO in 2013 will focus on higher-margin ounces from the 
Pernatty open pit and SBS28 areas at SKO. The commencement of mining at the 
SBS28 area is significant in that several higher-grade mines will come into 
production in this historical high-grade mining complex. These open pits 
include Surprise, Barbara, Shirl, Pit 28 and Tuscany. The combination of 
these new, higher-grade mines planned for 2013 and the toll treatment 
agreement with La Mancha will ensure that the Jubilee plant has a sufficient 
supply of ore to continue to operate efficiently.

In addition, Alacer undertook a number of steps in Q4 2012 to improve cash 
flow from mining and processing at SKO, including
    --  Reduction of mining fleets and associated personnel to one
        fleet.  This reduced the workforce by 50 people and overall
        mining cost by $1.8 million per month;
    --  Mining higher-grade, higher-value pits (Pernatty and Triumph)
        in H2 2012 and the Q1 2013; and
    --  Revising mine planning to target several open pits in the SBS28
        mining complex in H2 2013 to continue the higher-grade,
        higher-value mining strategy.

The combination of the cash generated from the new mines and the toll 
treatment agreement will finance the significant exploration activities Alacer 
is conducting at SKO.

Alacer believes that SKO represents one of the most prospective areas for gold 
exploration and discovery in Australia, as it lies on the very highly endowed 
Boulder-Lefroy Fault between the world-class gold deposits of Kalgoorlie's 
Golden Mile and the St. Ives District in the Eastern Goldfields of Western 
Australia. Significant recent resource and reserve growth has been achieved 
at both the Golden Mile and St. Ives, due to continuous exploration over the 
last ten years. Exploration within the SKO District, however, has been 
largely neglected due to the splintered ownership and operational issues prior 
to consolidation under Alacer's ownership.

In 2012, Alacer began an extensive exploration program at SKO. This 
important program will be completed over the next 12-24 months, with a 2013 
budget of $20 million. The results of this program will determine the 
strategic options available for SKO. The Frog's Leg toll treatment agreement 
provides Alacer with an 18-month time window for the geological team to fully 
focus on identifying and proving up new ore reserves.

Drilling has now begun to test quality conceptual targets that have the 
potential to deliver a large discovery. The three key areas with the highest 
probability of delivering exploration success are Location 48, the Mt. Marion 
complex, and SBS28. These targets will be tested in Alacer's $20 million 
exploration program at SKO during 2013. This drilling should enable management 
to determine if SKO has the potential to deliver a meaningful discovery.

2013 Guidance

Alacer's focus is to maximize value in 2013 by targeting the highest grade ore 
available, while realigning the mine development programs to ensure Alacer is 
in a position to maximize production cash flow from high value ore zones from 
2014 onwards.

Alacer's gold production, unit costs and capital expenditure for 2013 are 
forecast to be as follows:

|            |  2012    |2013 Gold |2013 Cash |2013 Total |   2013    |
|Mine        |  Gold    |Production|Operating |   Cash    | Capital   |
|            |Production|          |Costs(1 ) | Costs(1 ) |Expenditure|
|            |          |  ('000   |  ($/oz)  |  ($/oz)   |           |
|            |          | ounces)  |          |           |    ($     |
|            |          |          |          |           | millions) |
|Çöpler - 80%|  151,005 |162 to 178|340 to 375|385 to 425 |      52   |
|Higginsville|  136,687 |138 to 152|   955 to |  1,125 to |      60   |
|            |          |          |   1,055  |    1,240  |           |
|South       |   40,406 | 30 to 35 | 1,200 to |  1,210 to |      10   |
|Kalgoorlie  |          |          |  1,320   |    1,330  |           |
|Total       |  328,098 |330 to 365|675 to 749|769 to 851 |      122  |

Alacer's planned capital expenditures for 2013 total $122 million, of which 
approximately 22% is for projects and 78% is for operations.

General and administrative expense is forecast to be $47 million, which 
includes depreciation and amortization expense for corporate of $5 million for 
the year.

Alacer's attributable exploration expenditure is planned to total $55 million 
for 2013, of which approximately 80% is considered likely to be expensed.

|               |Exploration |Exploration  |
|               |   100%     |Attributable |
|               |($ millions)|($ millions) |
|SKO            |       20   |        20   |
|Higginsville   |       16   |        16   |
|Çöpler         |       13   |        10   |
|Çöpler District|       14   |         8   |
|Turkey Other   |        6   |         1   |
|TOTAL          |       69   |        55   |

Alacer intends to begin reporting an all-in approach to cash costs after the 
completion of the sale of the Frog's Leg Mine. Alacer believes that an 
all-in approach to cash costs will provide investors with an alternative to 
better evaluate its cost structure. Included in the calculation of all-in 
costs will be corporate general and administrative expenses, exploration 
expenses and sustaining capital expenses.

Australian Asset Impairment

With the sale of the Frog's Leg Mine to La Mancha, a detailed review of the 
carrying value of the ABU will be completed in conjunction with the completion 
of the full-year 2012 financial results. The outcome of this review will be 
included in Alacer's full year financial results to be released on or 
aboutMarch 13, 2013.

Upcoming News Releases

The financial statements and management discussion and analysis for Q4 2012 
and full-year 2012 are planned to be released on or about March 13, 2013 
(North America) and March 14, 2013 (Australia).

Alacer's Mineral Reserves and Resources Statement as at December 31, 2012 is 
expected to be released in March 2013.

Conference Call Details

Alacer will host a conference call on Monday, February 11 at 4:30 pm (North 
America Eastern Standard Time) and Tuesday, February 12 at 8:30 am (Australian 
Eastern Daylight Time).

You may participate in the conference call by dialing:

1-888-437-9315   for U.S. and Canada

1-800-106-406    for Australia

800-901-111      for Hong Kong

800-101-2003     for Singapore

0-808-101-1147   for United Kingdom

1-719-325-2249   for International

8456451          Conference ID

If you are unable to participate in the call, a recording of the call will be 
available on Alacer's website at or through replay until 
February 24, 2013 by using passcode 8456451 and calling:

1-888-203-1112   for U.S. and Canada

1-800-154-669    for Australia

800-901-108      for Hong Kong

800-101-2009     for Singapore

0-808-101-1153   for United Kingdom 

1-719-457-0820   for International

About Alacer Gold

Alacer Gold Corp. is a leading intermediate gold mining company with interests 
in multiple mines which provide ore to three processing facilities in 
Australia and Turkey:
    --  80% interest in the Çöpler Gold Mine;
    --  100% interest in the Higginsville Gold Operations; and
    --  100% interest in the South Kalgoorlie Gold Operations.

Alacer's primary focus is to maximize portfolio value, maximize free cash 
flow, minimize project risk, and return value to shareholders. Alacer has a 
strong balance sheet and is committed to responsibly developing its current 
operations and focused exploration programs creating value.

Alacer's operations produced a total of 381,738 attributable ounces of gold 
during 2012. At 31 December 2011, Alacer's attributable Mineral Resources 
totalled 13.8 million ounces of gold and Ore Reserves totalled 5.3 million 
ounces of gold.

Qualified Person and Technical Information

The information in this report which relates to Exploration Results is based 
on information compiled by Chris Newman, a full time employee of Alacer Gold 
Corp. and who is a Member of the Australasian Institute of Mining and 
Metallurgy and a Member of the Australian Institute of Geoscientists. Mr 
Newman has sufficient experience which is relevant to the style of 
mineralization and type of deposit under consideration and to the activity 
which is being undertaking to qualify as a Competent Person as defined in the 
2004 Edition of the "Australasian Code for Reporting of Exploration Results, 
Mineral Resources and Ore Reserves" and a qualified person pursuant to 
National Instrument 43-101 of the Canadian Securities Administration. Mr 
Newman consents to the inclusion in the report of the matters based on this 
information in the form and context in which it appears.

Exploration drilling and sampling in the Çöpler District utilized surface 
NQ2 diamond core and Reverse Circulation ("RC"). Reverse circulation cuttings 
were sampled on 1.0m intervals and core was sampled at geologically selected 
intervals ranging from 0.7m to 2.0m, but generally 1.0m as sawn half core or 
hand split if clay. Drill samples were performed by ALS‐Chemex in Vancouver, 
BC, Canada, for gold by Fire Assay off a 30 gram charge with an AA finish. 
Quality Assurance/Quality Control included the insertion and continual 
monitoring of numerous standards and blanks into the sample stream, and the 
collection of duplicate samples at regular intervals within each batch. 
Selected holes are also analysed for a 33‐element four acid ICP—AES. 
Exploration and drilling results are reported as drilled thicknesses. Drill 
composites were calculated using a cut‐off of approximately 0.3g/t gold for 
oxide. No top cut was applied. Surface geochemical soil samples are 
collected on a 200 x 200 meters grid system, with anomalous zones (>10ppb) 
infilled to 100 x 100 meters. Samples were collected from the soil 'B Zone' 
to a depth of 30-50cm and analysed by SGS analytical Laboratory, Ankara, 
Turkey, for gold by Fire Assay off a 50 gram charge with an AAS finish and for 
34 elements by four acid digestion (nearly total extraction), ICP OES Finish 
(sample drying, 105 C, 3.5kg, dry screening to -80mesh, 2.0kg).

Cautionary Statements

Except for statements of historical fact relating to Alacer, certain 
statements contained in this press release constitute forward-looking 
information, future oriented financial information, or financial outlooks 
(collectively "forward-looking information") within the meaning of Canadian 
securities laws. Forward-looking information may be contained in this document 
and other public filings of Alacer. Forward-looking information often relates 
to statements concerning Alacer's future outlook and anticipated events or 
results and, in some cases, can be identified by terminology such as "may", 
"will", "could", "should", "expect", "plan", "anticipate", "believe", 
"intend", "estimate", "projects", "predict", "potential", "continue" or other 
similar expressions concerning matters that are not historical facts.

Forward-looking information contained in this news release and other Alacer 
filings which may prove to be incorrect, include statements concerning, among 
other things, that Alacer and its subsidiaries will complete the proposed 
transactions in accordance with the terms and conditions of the asset sale and 
purchase agreement (including the satisfaction of the requisite conditions 
contained in the asset sale and purchase agreement and to pay any 
distributions related thereto); that the Foreign Investment Review Board in 
Australia will approve the transactions contemplated under the asset sale and 
purchase agreement; that adjustments required to the purchase price pursuant 
to the asset sale and purchase agreement, interim toll treatment agreement and 
18-month toll treatment agreement will not materially alter the aggregate 
consideration payable to Alacer and its subsidiaries; the generation of free 
cash flow and payment of dividends; matters relating to proposed exploration; 
production guidance and ability to target high grade ore bodies; the study, 
development and construction of proposed mines and process facilities; and the 
preparation and dissemination of technical studies.

Such forward-looking information and statements are based on a number of 
material factors and assumptions, including, but not limited in any manner to, 
those disclosed in any other of Alacer's filings, and include the inherent 
speculative nature of exploration results; the ability to explore; 
communications with local stakeholders and community and governmental 
relations; status of negotiations of joint ventures; weather conditions at 
Alacer's operations, commodity prices; the ultimate determination of and 
realization of mineral reserves; existence or realization of mineral 
resources; the development approach; availability and final receipt of 
required approvals, titles, licenses and permits; sufficient working capital 
to develop and operate the mines and implement development plans; access to 
adequate services and supplies; foreign currency exchange rates; interest 
rates; access to capital markets and associated cost of funds; availability of 
a qualified work force; ability to negotiate, finalize and execute relevant 
agreements; lack of social opposition to the mines or facilities; lack of 
legal challenges with respect to the property of Alacer; the timing and amount 
of future production and ability to meet production targets; timing and 
ability to produce studies and analyses; capital and operating expenditures; 
economic conditions; availability of sufficient financing; the ultimate 
ability to mine, process and sell mineral products on economically favorable 
terms and any and all other timing, exploration, development, operational, 
financial, budgetary, economic, legal, social, regulatory and political 
factors that may influence future events or conditions. While we consider 
these factors and assumptions to be reasonable based on information currently 
available to us, they may prove to be incorrect.

You should not place undue reliance on forward-looking information and 
statements. Forward-looking information and statements are only predictions 
based on our current expectations and our projections about future events. 
Actual results may vary from such forward-looking information for a variety of 
reasons, including but not limited to risks and uncertainties disclosed in 
Alacer's filings at and other unforeseen events or 
circumstances. Other than as required by law, Alacer does not intend, and 
undertakes no obligation to update any forward-looking information to reflect, 
among other things, new information or future events.

(1) Cash Operating Costs and Total Cash Costs are non-IFRS financial 
performance measures with no standard definitions under IFRS.

For further information on Alacer Gold Corp., please contact: Lisa Maestas - 
North America at +1-303-292-1299 Roger Howe - Australia at +61-2-9953-2470

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