Alacer Gold announces 2012 year-end financial results

TORONTO, March 13, 2013 /CNW/ - Alacer Gold Corp. ("Alacer" or the 
"Corporation") (TSX: ASR) and (ASX: AQG) announced that it has filed its 
financial results and related management's discussion and analysis ("MD&A") 
for the year ended December 31, 2012. The corresponding financial statements 
and MD&A are available on www.AlacerGold.com and on www.SEDAR.com. 
Mr. David Quinlivan, President and Chief Executive Officer stated, "I became 
Alacer's CEO in August 2012 and have since completed a strategic review of all 
of our assets. We recently announced a superior, staged approach to further 
developing the world-class Çöpler orebody, the sale of our 49% minority 
interest in the Frog's Leg Mine and the intention to declare a special 
dividend of approximately $70 million. These decisions reflect four key 
strategic principles that will guide Alacer's future activities - maximizing 
free cash flow, maximizing portfolio value, minimizing project risk and 
returning value to shareholders." 
Alacer's 2012 Attributable Net Profit Pre-Impairment(1) and other write-downs 
was $118.6 million ($0.42/share). Cash generated by operating activities 
totaled $238.9 million during the year and our cash balance at the end of 2012 
increased to $277.3 million. 
Alacer's attributable gold production(2) totaled 381,738 ounces for 2012. In 
Turkey, Çöpler continues to provide significant free cash flow at an average 
Total Cash Cost(3) of $375 per ounce. In Australia, various initiatives to 
increase free cash flow will continue at both Higginsville and South 
Kalgoorlie Operations. 
Full Year 2012 Highlights 
Strategic 


    --  A strategic review of each business unit's performance resulted
        in demobilization of two open-pit mining fleets, reduction of
        workforce in Australia and the entry into an agreement to sell
        Alacer's 49% minority interest in the Frog's Leg Mine.
    --  In Q3 2012, Çöpler's  Measured and Indicated Resources
        increased to 182.6 million tonnes at a grade of 1.4g/t gold,
        containing a total of 8.0 million ounces (inclusive of
        reserves) as at June 30, 2012.
    --  In mid-2012, David Quinlivan and Rod Antal joined Alacer as
        President and CEO and as CFO, respectively, strengthening the
        leadership team and bringing a focus on improving operational
        results.  Shortly thereafter, Alacer re-organized around its
        two segments (Turkey and Australia), naming Howard Stevenson
        and Tony James as Presidents of the respective business units.

Operational
    --  Full-year total gold production(2) of 419,489 ounces remained
        consistent with 2011, however attributable gold production(2)
        of 381,738 ounces decreased 7% compared to 2011.
    --  During Q4 2012, Alacer achieved its strongest quarterly
        production results of the year with attributable gold
        production(1) of 103,426 ounces.
    --  Attributable Total Cash Costs/ounce(4) were $803/ounce for 2012
        compared to $650/ounce for 2011.
    --  Initial development of the Chalice underground mine was
        completed, with development ore from the Atlas Lode delivered
        to the Higginsville treatment plant in June 2012 and initial
        stoping ore delivered in September 2012.
    --  Development of the Çöpler oxide deposit continued during 2012,
        with ore production from both the Marble and Main Zone pits
        commencing in 2012.

Financial
    --  Working capital increased by $159.7 million during the year to
        $203.9 million at December 31, 2012, due to the maturing of
        Alacer's C$100 million convertible debentures in April 2012,
        improved cash balances and increased heap-leach inventory at
        Çöpler.
    --  During Q4 2012, the Corporation recorded impairment charges of
        $490.0 million for non-current assets in Australia.
    --  Attributable net loss of $386.0 million for 2012, compared to
        attributable net profit of $75.2 million in 2011.
    --  Attributable Net Profit Pre-Impairment(5) of $118.6 million for
        2012, compared to $75.2 million in 2011.
    --  Alacer intends to pay a special dividend of approximately $70
        million after the closing of the sale of its 49% minority
        interest in the Frog's Leg Mine.

_____________________________

(1) Attributable Net Profit Pre-Impairment is a non-IFRS financial
performance measure with no standardized definition under IFRS. A
detailed reconciliation is provided below.
(2) Total consolidated gold production includes the Corporation's 49%
share of Frog's Leg and 100% of Çöpler. Attributable gold production is
reduced by the 20% (2011 - 5%) non-controlling interest at Çöpler.
(3) Total Cash Costs/ounce is a non-IFRS financial performance measure
with no standardized definition under IFRS. For further information and
detailed reconciliation, see the "Non-IFRS Measures" section of the
MD&A for the year ended December 31, 2012.
(4) Total Cash Costs/ounce is a non-IFRS financial performance measure
with no standardized definition under IFRS. For further information and
detailed reconciliation, see the "Non-IFRS Measures" section of the
MD&A for the year ended December 31, 2012.
(5) Attributable Net Profit Pre-Impairment is a non-IFRS financial
performance measure with no standardized definition under IFRS. A
detailed reconciliation is provided below.



Australian Asset Impairment

During Q4 2012, impairment indicators were identified for the Australian 
Business Unit. A comprehensive valuation was completed across all the assets 
which resulted in an impairment loss of $490.0 million in accordance with the 
applicable accounting standards. The cash flow valuations are significantly 
affected by a number of factors including estimates of production levels, 
operating costs, and capital expenditures reflected in our life-of-mine plans, 
as well as economic factors beyond management's control, such as gold prices, 
discount rates, and observable net asset valuation multiples. Should 
management's estimate of the future not reflect actual events, further 
impairments or reversals of impairments may be identified.

Attributable Net Profit Pre-Impairment Reconciliation
                                                    2012         2011

Attributable to owners of the corporation:                   

  Net profit (loss)                          $(385,962)     $75,249

  Add back:                                                        

  Impairment loss - Q4                          489,952           -

  Other write downs of property                  14,594           -

  Net Profit Pre-Impairment                    $118,584     $75,249
                                                                   

Net profit pre-impairment per share               $0.42       $0.29
    Conference Call Details

Alacer will host a conference call on Wednesday, March 13, 2013 at 5:30 pm 
(North America Eastern Standard Time) and Thursday, March 14, 2013 at 8:30 am 
(Australian Eastern Daylight Time).

You may participate in the conference call by dialing:

1-888-339-3503         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

1-719-325-2413         for International

3534276                Conference ID


If you are unable to participate in the call, a recording of the call will be 
available on Alacer's website at www.AlacerGold.com or through replay until 
Wednesday, March 27, 2013 by using passcode 3534276 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 
A presentation for the conference call will be available at www.AlacerGold.com 
prior to the call commencing. 
About Alacer 
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(6) ounces of gold 
during 2012. At December 31, 2011 Alacer's attributable Mineral Resources 
totalled 13.8 million ounces of gold and Ore Reserves totaled 5.3 million 
ounces of gold.

_____________________________

(6) Attributable gold production includes the Corporation's 49% share
of Frog's Leg and 80% of Çöpler.



Çöpler Resource

An updated Çöpler resource estimate was announced on September 10, 2012 and 
is summarized in the table below.

 _________________________________________________________________________________
|           Mineral Resource for the Çöpler Deposit (100%) as at June 30, 2012    |
|_________________________________________________________________________________|
|  Gold  |Mineralization|Resource | Tonnes  |Gold |Contained|Silver|Copper|Sulfur|
|Cut-off |              |Category |(million)|Grade|         |      |      |      |
| Grade  |     Type     |         |         |     |  Gold   |Grade |Grade |Grade |
| (g/t)  |              |         |         |(g/t)|(million |(g/t) | (%)  | (%)  |
|        |              |         |         |     | ounces) |      |      |      |
|________|______________|_________|_________|_____|_________|______|______|______|
|        |              |Measured |   94.0  | 1.6 |    4.8  |  5.1 |  0.1 |  3.3 |
|        |              |_________|_________|_____|_________|______|______|______|
|        |              |Indicated|   88.7  | 1.1 |    3.2  |  2.8 |  0.1 |  2.5 |
|        |              |_________|_________|_____|_________|______|______|______|
|Variable|      Total   |Measured |   182.6 | 1.4 |    8.0  |  3.9 |  0.1 |  2.9 |
|        |              |+        |         |     |         |      |      |      |
|        |              |Indicated|         |     |         |      |      |      |
|        |              |_________|_________|_____|_________|______|______|______|
|        |              |Inferred |   51.5  | 0.9 |    1.6  |  1.9 |  0.1 |  1.7 |
|________|______________|_________|_________|_____|_________|______|______|______|

Note: Resources are quoted after mining depletion and are inclusive of 
reserves. Resources are shown on a 100% basis, of which Alacer owns 80%.

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 includes 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, 
communications with local stakeholders and community relations; negotiations 
of joint ventures, negotiation and completion of transactions; commodity 
prices; mineral resources, mineral reserves, realization of mineral reserves, 
existence or realization of mineral resource estimates; the development 
approach, the timing and amount of future production, timing of studies and 
analyses, the timing of construction and development of proposed mines and 
process facilities; capital and operating expenditures; economic conditions; 
availability of sufficient financing; exploration plans and any and all other 
timing, exploration, development, operational, financial, budgetary, economic, 
legal, social, regulatory and political matters that may influence or be 
influenced by future events or conditions.

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 www.sedar.com 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.

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

SOURCE: ALACER GOLD CORP.

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CO: ALACER GOLD CORP.
ST: Ontario
NI: MNG ERN CONF 

-0- Mar/13/2013 12:00 GMT