Alacer Gold announces 2014 first quarter results

TORONTO, April 28, 2014 /CNW/ - Alacer Gold Corp. ("Alacer" or the 
"Corporation") [TSX: ASR and ASX: AQG] announced today that it has filed its 
first quarter 2014 financial results and related management's discussion and 
analysis ("MD&A"). The corresponding financial statements and MD&A are 
available on www.AlacerGold.com and on www.SEDAR.com. All currencies 
referenced herein are denominated in USD unless otherwise stated. 
Rod Antal, Alacer's Chief Executive Officer, stated, "Çöpler continued to 
deliver safe and predictable operating performance over the winter months. 
"First quarter gold production of 42,669 attributable(1) ounces was delivered 
at industry-leading All-in Costs(2) of $739 per ounce. Çöpler's operations 
continue to provide a robust platform to support future growth as we advance 
the Sulfide Definitive Feasibility Study. Work continues to finalize the DFS 
for publication prior to the end of Q2 2014. Additionally, the efforts 
underway to incorporate the increasingly significant positive gold 
reconciliation into a new resource model are well progressed." 
2014 Highlights 
Strategic 


    --  On April 17, 2014, the Corporation announced that Mr. Thomas R.
        Bates, Jr. was appointed to the Board of Directors. In
        addition, Mr. Edward Dowling was appointed as Chairman, and
        former interim Chairman Mr. Richard Graff remains on the Board
        as the independent Lead Director.
    --  On March 12, 2014, the Corporation's Board of Directors
        declared an annual dividend of $0.02 per share, or
        approximately $5.9 million. This dividend was paid on April 15,
        2014.
    --  Work on the Çöpler Sulfide Project Definitive Feasibility Study
        ("DFS") continues and is on track for release prior to the end
        of Q2 2014. This includes a program of work to determine the
        factors leading to the positive sulfide gold reconciliations.
        As outlined in the MD&A, until such work is complete, the
        impact of such reconciliation on the DFS is unknown and
        therefore subject to uncertainty.

Operational
       --  Two significant safety milestones were passed during the
        quarter as Çöpler reached one calendar year worked without a
        lost-time injury on February 24, 2014, and achieved three
        million hours without a lost-time injury on March 27, 2014.
    --  Total gold production was 52,919 ounces.
    --  Attributable gold production(1) was 42,335 ounces.
    --  The ratio between gold produced and contained gold in ore
        stacked was 80% for the quarter.
    --  All-in Sustaining Costs/ounce(2) were $680 and All-in
        Costs/ounce(2) were $739 for Q1 2014.
    --  0.5 million tonnes of sulfide ore were added to stockpiles
        during Q1 2014 at an average grade of 4.98 g/t. Sulfide ore
        mined continued to provide a positive gold reconciliation
        during Q1 2014, which resulted in an 82% positive
        reconciliation on a contained ounce basis.

Financial
    --  The Corporation ended Q1 2014 with cash and cash equivalents of
        $292.1 million(3), an increase of $2.4 million over the prior
        quarter.
    --  Working capital decreased by $7.5 million during the quarter to
        $307.7 million.
    --  Attributable net profit from operations was $9.7 million.
    --  Adjusted Net Profit(2) was $15.1 million, or $0.05 per share.
    --  Cash flow from operating activities totaled $29.8 million.

Conference Call / Webcast Details

Mr. Rod Antal, Chief Executive Officer of Alacer, will host a conference call 
on Monday, April 28 at 6:30 pm (North America Eastern Time) and Tuesday, April 
29, at 8:30 a.m. (Australian Eastern Time).

You may listen to the call via webcast at 
http://services.choruscall.ca/links/alacer140428.html. The conference call 
presentation will also be available at the link provided prior to the call 
commencing.

You may participate in the conference call by dialing:
    1-800-319-4610     for U.S. and Canada
    1-800-423-528      for Australia
    800-930-470        for Hong Kong
    800-101-2425       for Singapore
    1-800-017-8660     for United Kingdom
    1-604-638-5340     for International
    "Alacer Gold
     Call"             Conference ID

If you are unable to participate in the call, a webcast will be archived until 
July 28, 2014 and a recording of the call will be available on Alacer's 
website at www.AlacerGold.com or through replay until Wednesday, May 28, 2014 
by using passcode 8901# and calling:
    1-800-319-6413   for U.S. and
                     Canada
    1-800-638-9854  for Australia

The corresponding financial statements and management's discussion and 
analysis will be posted on Alacer's website and on www.SEDAR.com.

About Alacer

Alacer Gold Corp. is a leading intermediate gold mining company and its 
world-class operation is the 80% owned Çöpler Gold Mine in Turkey.  Alacer 
also has 11 active exploration projects in Turkey which are joint ventures 
with our Turkish partner Lidya Mining.

During 2013, Çöpler produced 216,850 attributable(1) ounces at an All-In 
Costs(2) of $864 per ounce.

Çöpler is currently an open-pit, heap-leach operation that is producing gold 
from oxide ore. The treatment of sulfide ore via pressure oxidation is being 
evaluated and a Definitive Feasibility Study is planned to be completed in Q2 
2014.

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, preliminary cost reporting in this news release, production, cost and 
capital expenditure guidance; development plans for processing sulfide ore at 
Çöpler; amount of contained ounces in sulfide ore; results of any gold 
reconciliations; ability to discover additional oxide gold ore, 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, announcements and analysis, 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, cost and capital 
expenditure targets; timing and ability to produce studies and analysis; 
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.

___________________________ (1) Attributable gold production is reduced by the 
20% non-controlling interest at Çöpler.  (2) All-in Sustaining Costs/ounce, 
All-in Costs/ounce and Adjusted Net Profit are non-IFRS financial performance 
measures with no standardized definition under IFRS. For further information 
and detailed reconciliations, see the "Non-IFRS Measures" section of the MD&A 
for March 31, 2014. (3) Includes the Lidya Mining portion of Q1 profits that 
are expected to be distributed in the first half of 2015.



SOURCE  Alacer Gold Corp. 
on Alacer Gold Corp., please contact: Lisa Maestas - Director of Investor 
Relations - North America at 1-303-292-1299; Roger Howe - Director of Investor 
Relations - Australia at 61-2-9953-2470 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/April2014/28/c3899.html 
CO: Alacer Gold Corp.
ST: Ontario
NI: MNG ERN CONF  
-0- Apr/28/2014 11:45 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.