1430 louw smith

Investor Presentation, November 2011

Delivering 400,000 ounces in 2011

Growing to 800,000 quality ounces in 2015

ASX: AQG / TSX: ASR | 1

Note: All dollars in this presentation are US$ unless noted otherwise

Cautionary Statements FORWARD LOOKING STATEMENTS Except for statements of historical fact relating to Alacer, certain statements contained in this presentation 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 relate to this disclosure and other matters identified in Alacer's public filings, 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", "targeted", "possible", "continue", "objective" or other similar expressions concerning matters that are not historical facts and include, commodity prices, access to sufficient capital resources, mineral resources, mineral reserves, realization of mineral reserves and recoveries, existence or realization of mineral resource estimates, results of operations, results of exploration activities, the timing and amount of future production and sales, the timing of cash flows, capital and operating expenditures, the timing of receipt and maintaining permits, rights and authorizations, communications with local stakeholders and community relations, employee relations, settlement of disputes, status of negotiations of joint ventures, availability of financing and any and all other timing, development, operational, financial, economic, legal, regulatory and political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited in any manner, those disclosed in any other of Alacer’s public filings, and include the ultimate determination of mineral reserves, the accuracy of mineral reserves, the accuracy of the estimated future mine life of its operations, risks of not meeting production and cost targets, mining operational and development risk, changes in project parameters as plans continue to be refined, availability, final receipt of and maintaining required approvals, licenses and permits, ability to acquire necessary surface rights, sufficient working capital to develop and operate the mines, access to adequate services and supplies, economic conditions, commodity prices, foreign currency exchange rates, interest rates, access to capital and debt markets and associated cost of funds, availability of a qualified work force, positive employee relations, lack of social opposition and legal challenges, ability to settle disputes, the ultimate ability to mine, process and sell mineral products on economically favorable terms, interpretation of accounting policies and potential amendments to the financial statements resulting from the audit process. The information set forth as it pertains to the Çöpler sulfide prefeasibility study and Çöpler mineral reserves was reviewed and prepared under the supervision of, and verified by, Robert Benbow, P.E. a qualified person pursuant to Ni 43-101 of the Canadian Securities Administrators. Mr. Benbow is an employee of Alacer Gold Corp. While Alacer considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Actual results may vary from such forward looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other Alacer filings at www.sedar.com. Forward-looking statements are based upon management’s beliefs, estimate and opinions on the date the statements are made and, 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. The information in this report which relates to exploration results, mineral resources and reserves is based on information compiled by Chris Newman, a full-time employee of Alacer Gold Corp. and a Member of the Australasian Institute of Mining and Metallurgy. Mr. Newman has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is 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 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. This presentation does not represent a solicitation or offer to sell securities.


Diversified Production from 4 Mines in 2 Countries


2011 Guidance (‘000 ozs)

2015 Target

(‘000 ozs)

South Kalgoorlie Operations (includes Frog’s Legs)

100 ~200

Higginsville Operations 172 ~200

Çöpler Oxide 135 ~180

Çöpler Sulfide 0 ~220+

Total > 400 ~800

Cash Operating Cost US$ 590 LOM ~500-525

Reserves (Moz) 5.9 ~8

Resources (Moz) ~15 ~20

Highly Attractive Growth Profile

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100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

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Higginsville Operations South Kalgoorlie Operations

Çöpler Oxide Leach Çöpler Sulfide Plant


Capital Structure

• Market Cap ~$3.4 billion • Shares on issue 279M • Fully diluted 297M • Turnover 1.5M shares/day • Cash $139M at June 2011 • Convertible Debenture Cdn$100M • Debt $66M at June 2011 • Key Shareholders Pala Investments (19.4%)

M&G Investments (13.0%)

Alacer Gold is the second largest gold

company on the ASX

Trident Underground Mine


Turkey - Çöpler Gold Mine

Çöpler Oxides: Q1-Q3 2011 = 127,618 ozs 2015 target – ~180,000 ozs per year First gold - December 2010 Commercial production - April 2011 Q3 mined grade up 66% to 2.07g/t Reconciliations = +22% grade, +5% tonnes Q3 ore leached = 1.8Mt, crushed/

agglomerated ore = 43% of total Q3 heap-leach recoveries up to 65% Six rigs continue to extend resource

100,000 ozs production milestone achieved on 24 August 2011


▲Manganese Open Pit ▼Carbon-in-Circuit Tanks

Sulfide Pre-Feasibility Study

Çöpler Gold Mine, Turkey

Increased Çöpler reserves 2.4Moz to 4.6Moz contained gold LOM production increased 182% to 3.7Moz Sulfide project delivers $739M* in net cash flow (at $1,038/oz) and IRR = 25% Sulfide project initial Capex = $410M Life of mine total cash costs (C2) on a by-product basis = $430/oz Mine life increased to 16 years (oxides + sulfides) Full feasibility to be completed 2H 2012 Targeting first sulfide production 2H 2014

2015 target – ~220,000+ ozs per year

Çöpler Gold Mine


*All currency in fourth quarter 2010 US$

Main Zone

Oxide Pit Marble Zone

Oxide Pit

Manganese Zone

Current Oxide Pit

Çöpler Geological Plan

Recent Drilling Extending Mineralization

Gold mineralization

continues to the west

Main Zone

Sulfide Extensions

Çöpler Village

Extensions

3 km long ore zone ASX: AQG / TSX: ASR | 8

Deepest drillhole

to date

intercepted 100m

at 4.1g/t Au

KKarakartal Target large Cu-

Au porphyry.

3 rigs 2H11

following up

235m at 1.0g/t Au,

0.43% Cu

Çöpler +6Moz Au deposit, closed

only to east

Multiple Cu-Au

prospects along

6km contact zone

Au-Cu prospect in-line

with major Çöpler

structure

Çöpler – New Gold-Copper District

15 km


Australia – Multi-Mine Production

Two treatment hubs: Several ore sources Open pit & underground mix Operating efficiencies Systematic exploration of largest

tenement holding in rich Kalgoorlie to Norseman belt

Strategic flexibility across entire belt


Australia - Two Treatment Hubs

South Kalgoorlie Operations: Q1-Q3 2011 = 67,665 ounzes Currently 1.2Mtpa Jubilee Plant Target – 200,000 ozs per year from

new 2.5Mtpa plant at 2.5g/t Sourced from:

• ~400Ktpa from Frog’s Leg • ~1,500Ktpa from HBJ open pit • ~600Ktpa from other mines such as HBJ

underground, Mt Marion, Shirl/Barbara/Surprise Complex

$10M exploration budget for 2011


SKO - Expansion of HBJ Mine

Large +4.5Moz endowment, produced 1.6Moz over past 20 years Staged development approach for a new 2.5Mtpa processing plant Provides strategic, low-cost processing plant in prolific Hampton areas Recently committed to further expansion of open pit for northern HBJ Lode Assessing bulk underground mining potential for central & southern HBJ Lode


Planned Open Pit

HBJ Stage 3

Possible UG Mining Blocks

HBJ Central & South

SKO Exploration Targets and Regional Endowment

Binduli

1 Moz

Coolgardie

+2 Moz

Mt Marion

+1 Moz

SBS 28

Complex

Mt Marion

West

HBJ

10 km

Mt Martin

Triumph

Pernatty

Australia - Higginsville

TSX: ASR / ASX: AQG | 14

Higginsville Operations:

Q1-Q3 2011 = 112,060 ozs Target – 200,000 ozs per year Higginsville plant now 1.3Mtpa Ore Sourcing:

• Trident underground mine • Chalice underground mine • Oxide open pits • Future discoveries

$15M exploration budget for 2011 Exploration replaced depletion,

with M&I up 10% to 1.3Moz

500,000 ozs production milestone

achieved on September 8, 2011


Trident Underground Mine:

• ~ 500Koz initial reserve

• ~ 500Koz produced to date

• ~ 500Koz remaining reserve

Trident – Helios Discovery

Helios

Zone

Production + Growth + Exploration + People =

Strong production base Organic production and resource growth World class exploration portfolio in two regions Experienced people with track record of delivering

Alacer Gold is a rapidly growing gold company

poised to further increase shareholder value

Çöpler Gold Mine


Second Quarter Operations Summary


1Ounces produced is gold poured and includes net change of gold-in-circuit, except Çöpler which is ounces poured. 2Total gold ounces include the Corporation’s 49% share of Frog’s Leg and 100% of Çöpler. Attributable gold ounces are reduced by

the 5% non-controlling interest at Çöpler.

Operation Higginsville South

Kalgoorlie Frog’s Leg JV (49%) Çöpler

Alacer Gold Total

Ore treated (tonnes) 329,950 233,805 80,767 2,155,123 2,799,645

Head grade (g/t) 3.9 1.0 6.0 1.2 1.7

Recovery (%) 96.8 89.9 91.4 56.9 -

Total gold produced1,2 (oz) 40,919 7,377 13,986 41,122 103,404

Total gold sold2 (oz) 35,551 6,811 13,348 41,119 96,829

Attributable gold produced2 (oz) 40,919 7,377 13,986 39,066 101,348

Attributable gold sold2 (oz) 35,551 6,811 13,348 39,063 94,773

Cash operating cost per oz ($/oz) $676 $926 $588 $385 $558 Total cash cost per oz sold ($/oz) $861 $943 $629 $422 $649 Average realized gold price ($/oz) $1,512 $1,499 $1,505 $1,515 $1,511

Third Quarter Operations Summary (Unit costs to be released 15 November with MD&A)


1Ounces produced is gold poured and includes net change of gold-in-circuit, except Çöpler which is ounces poured. 2Total gold ounces include the Corporation’s 49% share of Frog’s Leg and 100% of Çöpler. Attributable gold ounces are reduced by

the 5% non-controlling interest at Çöpler.

Operation Higginsville South

Kalgoorlie Frog’s Leg JV (49%) Çöpler

Alacer Gold Total

U/G ore mined (HG) (tonnes) 210,468 - 85,978 - 296,446

U/G mined grade (g/t) 4.35 - 6.46 - 4.96

U/G mined ounces (ounces) 29,460 - 17,854 - 47,314

O/P ore mined (HG) (tonnes) 28,628 351,939 - 1,786,536 2,167,103

O/P waste mined (tonnes) 422,986 711,173 - 3,379,795 4,513,954

O/P mined grade (g/t) 4.29 1.52 - 2.07 2.01

O/P ounces mined (ounces) 3,953 17,199 - 118,943 140,095

Total HG tonnes mined (tonnes) 239,096 351,939 85,978 1,786,536 2,463,549

Total mined grade (g/t) 4.61 1.52 6.46 2.07 2.37

Total HG mined ounces (ounces) 33,413 17,199 17,854 118,943 187,409

Ore treated (tonnes) 318,752 236,604 80,001 1,777,562 2,412,919

Head grade (g/t) 3.47 1.35 6.30 2.06 2.32

Recovery (%) 96.8 91.3 91.8 65.0 62.7

Total gold produced1,2 (oz) 35,018 8,972 15,490 53,200 112,680

Attributable gold produced2 (oz) 35,018 8,972 15,490 50,540 110,020

Resources & Reserves Tables

Alacer Gold Reserves Proven Probable Total Reserves

Date of Declaration

Tonnes (Mt)

Grade (g/t)

Ounces (Moz)

Tonnes (Mt)

Grade (g/t)

Ounces (Moz)

Tonnes (Mt)

Grade (g/t)

Ounces (Moz)

Çöpler (95%) 68.5 1.5 3.3 22.8 1.4 1.0 91.3 1.5 4.4 Feb-10 Higginsville (100%) 1.2 3.2 0.1 4.4 4.1 0.6 5.7 3.9 0.7 Jul-10 South Kalgoorlie (100%) - - - 11.6 1.4 0.5 11.6 1.4 0.5 Aug-11 Frogs Leg (49%) 0.1 5.7 0.0 1.5 5.1 0.2 1.6 5.1 0.2 Aug-11

Total 69.8 1.6 3.5 40.3 2.0 2.4 110.1 1.7 5.9

Measured Indicated Measured and Indicated Inferred Date of

Declaration

Tonnes (Mt)

Au Grade (g/t)

Au Ozs (Moz)

Cu Grade (%)

Cu lbs (Blbs)

Tonnes (Mt)

Grade (g/t)

Ozs (Moz)

Cu Grade (%)

Cu lbs (Blbs)

Tonnes (Mt)

Grade (g/t)

Ozs (Moz)

Cu Grade (%)

Cu lbs (Blbs)

Tonnes (Mt)

Grade (g/t)

Ozs (Moz)

Cu Grade (%)

Cu lbs (Blbs)

Çöpler (95%) 88.1 1.5 4.2 44.3 1.4 1.9 132.4 1.4 6.1 - - 2.1 1.6 0.1 Feb-10

Higginsville (100%) 1.9 3.9 0.2 10.6 3.2 1.1 12.4 3.3 1.3 2.3 2.8 0.2 Jul-11

South Kalgoorlie (100%) 1.7 2.2 0.1 35.9 2.1 2.5 37.6 2.1 2.6 - - 31.1 1.9 1.9 Jul-10

Frogs Leg (49%) 0.7 7.7 0.2 1.6 5.4 0.3 2.3 6.1 0.5 - - 0.2 5.2 0.0 Dec-10

Karakartal (100%) 13.8 0.5 0.2 0.3 0.1 13.8 0.5 0.2 0.3 0.1 17.8 0.3 0.2 0.2 0.1 Jul-09

Cevizlidere (100%) - - - - - 445.7 0.1 1.6 0.4 3.7 Oct-09

Total 92.4

1.6 4.7 106.1 1.8 6.0 0.0 0.1 198.5 1.7 10.7 0.0 0.1 499.2 0.3 4.0 0.3 3.8

Alacer Gold Resources

Note: Ounces are all on a contained basis. Resources are inclusive of reserves. Rounding differences will occur.

Sources:

Çöpler - Samuel Engineering Çöpler 43-101 released Mar 27, 2011 (p115)

Higginsville - SRK 43-101 report dated Dec 15, 2010 (p 10) for Reserves, Alacer Gold announcement dated August 29, 2011 for Resources,

South Kalgoorlie – Alacer Gold announcement dated October 24, 2011 for Reserves, Avoca Resources’ announcement dated July 15, 2010 for Resources

Frogs Leg - Alacer Gold announcement dated October 24, 2011 for Reserves and La Mancha Resources announcement dated Mar 29, 2011 for Resources

Karakartal - Resource Modelling 43-101 report dated July 31, 2009 (p 2)

Cevizlidere - Watts, Griffis and McOuat 43-101 report dated Oct 2, 2009 (p5)

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