LEVERAGING OUR PORTFOLIO IN TURKEY · 2014. 5. 13. · Manganese Pit totaled 0.3 million tonnes at...

LEVERAGING OUR PORTFOLIOIN TURKEY

TSX: ASR / ASX: AQGBank of America Merrill Lynch 2014 Global Metals, Mining & Steel Conference Rod Antal, Chief Executive Officer

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Cautionary Statements

TSX: ASR / ASX: AQG / 2

FORWARD‐LOOKING STATEMENTS Except for statements of historical fact relating to Alacer, certain statements contained in this presentation constitute forward‐lookinginformation, 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 futureoutlook 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 presentation, production, cost and capital expenditureguidance; development plans for processing sulfide ore at Çöpler; ability to discover additional oxide gold ore, amount of contained ounces in sulfide ore; results of any goldreconciliations; 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; mineralresources, mineral reserves, realization of mineral reserves, existence or realization of mineral resource estimates; the development approach, the timing and amount of futureproduction, timing of studies, announcements and analyses, the timing of construction and development of proposed mines and process facilities; capital and operatingexpenditures; 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. Actual results may vary from suchforward‐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‐lookingstatements 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, andundertakes no obligation to update any forward‐looking information to reflect, among other things, new information or future events.

You should not place undue reliance on forward‐looking information and statements. Forward‐looking information and statements are only predictions based on our currentexpectations 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 risksand 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, andundertakes no obligation to update any forward‐looking information to reflect, among other things, new information or future events.

The exploration results and Mineral Resources disclosure in this presentation have been compiled and approved by Mr. James Francis, BSc (Hons) Geology and MSc MiningGeology, MAusIMM, MAIG, Mining and Geology Manager who is a full‐time employee of Alacer. The other scientific and technical information in this announcement is based oninformation compiled by Robert D. Benbow, PE, who is a full‐time employee of Alacer Gold. Mr. Francis has sufficient experience which is relevant to the style of mineralizationand type of deposit under consideration and to the activity which is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Codefor Reporting of Exploration Results, Mineral Resources and Ore Reserves” and a Qualified Person pursuant to NI 43‐101. Mr. Benbow has sufficient experience with respect tothe technical and scientific matters set forth above (other than those matters related to mineral resources and reserves) to be a “qualified person” for the purposes of NI43‐101. Messrs. Francis and Benbow consent to the inclusion in this presentation 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. All dollars in this presentation are US$’s.

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Corporate Head OfficeDenver, Colorado

Turkey

Leading Intermediate Gold Mining Company

Corporate Overview Asset Location

Sariçayiryayla

Dursunbey (50%)

Yelekkaya

Ïvrindi

Yahyali

Akoluk

KabadüzFol-ken

Kurttepe

GuvemlïKazikbeli

Cevïzlïdere (50%)

Anagold JV(Lidya Mining)

80%

Tunçpınar JV(Lidya Mining)

50%

Polimetal JV

Kartaltepe JV(Lidya Mining)

Certain Çöpler District Licenses

4 Projects

TurkeyRegional

Exploration

3 Projects

CertainÇöpler District

Licenses

5 Projects

50% 20%1

Çöpler Gold Mine

Tunçpınar JV

Erzincan

Istanbul

Ankara

1 Alacer has the right to “claw back” up to a 50% interest in individual projects within the Polimetal JV.

TurkeyRegional

Exploration

11 Projects

World-class gold mine, several attractive projects and extensive land package covering over 100,000 hectares in Turkey

SinMalmisÇöpler District

Polimetal JV(Lidya Mining)


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World-class mine with significant, low-cost production and excellent infrastructure

Key Investment Highlights

Established and optimized heap leach operations consistently delivering substantial cash flow

Positioned to capitalize on significant organic growth potential

Brownfield sulfide project with potential to deliver significant and scalable low-cost, long-term production

Exceptional portfolio of exploration targets in highly prospective region

Strategic advantage in Turkey


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World-Class Mine with Significant, Low-Cost Production and Cash Flow

($1,500)

($750)

$0

$750

$1,500

2013

Glo

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ve(U

S$/o

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First Quartile Total Cash Costs (C2$/oz)1

Çöpler Gold Mine

Average Cash Costs: $721/oz

1st 2nd

3rd 4th

Quartile

Significant Heap Leach Production (koz Au) (100%)

1 Source: SNL Financial.

185 189

271

200

185374

645 845 - 870

2011A 2012A 2013A 2014

Guidance

Annual Production Cumulative Production

225


Consistently Delivering Substantial Cash Flow ($M’s) (100%)

$60

$45 $43

$26

$55

$41$50

$38$30

$47

$28 $27

$11

$35

$11

$29 $32 $25

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

2012 2013 2014

Operating Cash Flow Free Cash FlowFor

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$4M spent Increases capacity of circuit to

handle ore with high clay content Construction targeted for completion

and commissioning during Q2 2014

$4M spent Provides ability to contain

potential high rain or snow fall events, due to larger heap leach pads

Construction targeted for completion during Q2 2014

$31M spent Produces a saleable copper

product and cyanide is recycled to gold recovery process

Completed dry commissioning during Q4 2013 with operation expected to start when copper threshold is met

Clay‐Handling Bypass Circuit

SART Plant

Agglomerator Upgrade

Over $60 million invested in optimization and process improvement projects

Explosives Magazine

HL Pad Phase 3 Expansion $13M spent Designed to improve processing

ore with high clay content Work completed in October 2013

and commissioned for immediate operation in November 2013

$12M spent Increased total leach pad capacity

to 42 Mt of ore Overliner completed in 2013 and

stacking commenced in Q4 2013 Phase 4 Expansion to commence

in 2014 and finish in 2015

$3M spent State-of-the-art underground

explosives storage magazine with a designed life of 50 years

Transferred to operations in Q1 2014

New Storm Pond

Substantial Capital Invested to Optimize Operations Over Past Three Years


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Continuing positive production from ÇöplerÇöpler – Q1 2014 Performance

Achieved 3 million hours without a lost‐time injury on March 27, 2014 Production of 42,335 attributable ounces at low All‐in Costs1 of $739 Oxide ore treated was 1.4Mt at 1.48g/t; gold recovery ratio2 of 80% Sulfide ore stockpiled 0.5Mt at 4.98g/t; total stockpile now at 2.0Mt at 4.89g/t Operating cash flow of $30M On track to meet 2014 guidance of 160,000 to 180,000 attributable ounces at

All‐in Costs of $730 to $780 per ounceTSX: ASR / ASX: AQG / 7

1 All-in Costs is a non-IFRS financial performance measure with no standardized definition under IFRS. For further information and a detailed reconciliation, please see the “Non-IFRS Measures” section of the MD&A for the three months ended March 31, 2014.

2 Gold recovery ratio is the ratio between gold ounces produced and contained gold in ore stacked.

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Standalone projects

Become multi-mine producer in Turkey

High quality targets identified (Cevizlidere, Dursunbey)

Heap leach expansion through securing additional oxide ore in Çöpler District

Low capital cost High margin Significant cash

flow Leverage existing

infrastructure

Sulfide Project

Positioned to Capitalize on Excellent Organic Growth Potential

Attractive Organic Growth Opportunities

2

1

3

Significant and scalable low-cost, long-term production

Strong and growing cash position (~$300M) to pursue organic growth


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Brownfield Sulfide Project to ProvideLong-Term, Low-Cost Production


DFS on whole‐ore POX on‐track for release in Q2 2014 Design, engineering and procurement studies nearing completion Supplemental EIA has been submitted

Positive sulfide gold reconciliation Sulfide ore stockpiled in Q1 2014 of 0.5Mt at 4.98g/t gold, with 82% positive gold

reconciliation on a contained ounce basis Manganese Pit totaled 0.3 million tonnes at 5.31 g/t and a 63% positive gold reconciliation Main and Marble Pits totaled 0.2 million tonnes at 4.27 g/t and a 166% positive gold

reconciliation Total sulfide ore stockpile was 2.0Mt at 4.89g/t gold at March 31, 2014 with a positive

gold reconciliation of 48% on a contained ounce basis, composed of lower than expected tonnage and higher than expected gold grade

Resource reconciliation project and validation program underway to understand the positive reconciliation

Resource reconciliation project will not delay release of DFS in Q2 2014For

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Exceptional Exploration PotentialLeveraging our expertise, assets and strategic advantage in Turkey


18 years in Turkey gives Alacer early mover advantage Tethyan Belt is historically under-explored and has excellent mineral potentialF

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Strong Targets Identified in Highly Prospective Çöpler District


Bahce (80%) 78m at 0.3 % Cu, 0.3 g/t Au 60m at 0.3 % Cu, 0.2 g/t Au

Demirmağara (80%) 5m at 1.5 g/t Au from 18 m 8m at 0.7 g/t Au from 78.8 m

Bayramdere (50%) 13m at 3.7 g/t Au from 33 m 8m at 4.5 g/t Au from 29 m 6m at 4.1 g/t Au from 35 m 5m at 4.6 g/t Au from 27 m

Yakuplu (50%) 20m at 1.3g/t Au and 0.22% Cu from 1m 36m at 1.3g/t Au and 0.47% Cu from 5m 37m at 0.8g/t Au and 0.20% Cu from 5m 35m at 0.9g/t Au and 0.63% Cu from surface

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Regional Exploration Targets Represent Opportunity

7 active exploration projects outside the Çöpler District Additional drilling in progress at Dursunbey Continuing preparatory work at Cevizlidere to recommence drilling 2014 Budget = $9.6M (100%)


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Dursunbey Project


Recent discovery in western Turkey

Over 7,000m/70 holes drilled in 2013

Notable high grade polimetallic intercepts with above average gold grade

Continuing infill and extensional drilling with 5 rigs

Exercising clawback to 50%

Promising early-stage results

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Alacer in a Strong PositionStrategic advantage in Turkey


Çöpler is a world-class mine with low-cost production, high-margin returns Established heap leach operations, delivering substantial cash flow Attractive organic growth potential from existing portfolio Strong cash position of ~$300M and growing, debt free Brownfield sulfide project with potential to deliver scalable low-cost, long-term

production Exploration portfolio in highly prospective and underexplored region Strategic advantage in Turkey with strong local partner

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Leveraging Our Expertise in Turkey Further Unlocking Çöpler’s Value


For further information, please contact:

Lisa MaestasNorth America: +1-303-292-1299

Roger HoweAustralia: +61-2-9953-2470

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Costs will remain near the lowest in the industry

Capex includes $9M of non-recurring sustaining capex

G&A is 32% less than 2013 on a like-for-like basis

2014 GuidanceÇöpler production to remain above 200,000 ounces in 2014


1 Sulfide ore is being stockpiled and reported as long-term inventory.2 Attributable gold ounces and attributable capital expenditures are reduced by the 20% non-controlling interest at Çöpler.3 All-in Costs are non-IFRS financial performance measures with no standardized definitions under IFRS.

For further information, see the “Non-IFRS Measures” section of the MD&A for the three month period ended March 31, 2014.

Çöpler Mine 2014 GuidanceWaste tonnes mined (100%) (millions) 25Sulfide ore tonnes mined1 (100%) (millions) 1.7Oxide ore tonnes treated (millions) 6.2Oxide ore grade (g/t gold) 1.6Heap-leach gold ounces produced (100%) (‘000’s) 200,000 to 225,000Heap-leach gold ounces produced (attributable2) (‘000’s) 160,000 to 180,000

Capital expenditure (attributable2) (millions) 17General and Administrative (millions) 15All-in Costs3 ($/oz) 730 to 780

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Çöpler Gold Mine Production Statistics


Appendix

Çöpler Gold Mine Q12013

Q22013

Q32013

Q42013

2013Year

Q12014

Waste tonnes mined 4,914,386 5,241,673 4,694,066 5,833,161 20,683,286 5,471,484Oxide ore mined – tonnes 1,787,169 1,773,536 1,715,571 1,397,244 6,673,520 1,418,391Oxide ore mined – grade (g/t) 2.11 2.17 1.67 1.57 1.90 1.50Oxide ore mined – ounces 121,049 123,692 91,969 70,680 407,390 68,336Sulfide ore mined – tonnes 238,121 414,703 336,787 356,271 1,345,882 508,131Sulfide ore mined – grade (g/t) 4.92 4.68 5.34 4.86 4.94 4.98Sulfide ore stockpiled – ounces 37,699 62,367 57,865 55,661 213,592 81,368Oxide ore treated – tonnes 1,802,973 1,778,827 1,704,528 1,410,881 6,697,209 1,384,124Oxide ore treated ‐ head grade (g/t) 2.14 2.13 1.70 1.59 1.91 1.48

Ratio between gold produced and contained gold in stacked ore 44% 56% 87% 93% 66% 80%

Gold ounces produced 54,604 68,195 81,059 67,205 271,063 52,919Gold ounces sold 55,954 66,109 81,326 69,963 273,352 55,128Çöpler Attributable: (80% ownership)Gold ounces produced 43,683 54,556 64,847 53,764 216,850 42,335Gold ounces sold 44,763 52,887 65,061 55,970 218,682 44,102F

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M+I Resource = 8.5M contained ounces of goldNote: Resources are quoted after mining depletion and are inclusive of reserves. Resources are shown on a 100% basis, of which Alacer Gold owns 80%. Stockpiles include both oxide and sulfide stockpiles and residual ore stacked on the heap leach pads. Rounding errors will occur. Further information on this resource estimate is in the announcement dated July 25, 2013. Pursuant to ASX listing rule 5.23.2, Alacer confirms that it is not aware of any new information or data that materially affects the information in that announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.

Çöpler Mineral ResourceAppendix

Mineral Resource for the Çöpler Deposit (100%) as at June 30, 2013Gold

Cut-offGrade(g/t)

MaterialType

Resource Category

Tonnes (million)

Gold Grade(g/t)

Contained Gold

(million ounces)

Silver Grade (g/t)

Copper Grade

(%)

Sulfur Grade

(%)

0.3 Oxide

Measured 16.3 1.7 0.9 3.7 0.2 0.3Indicated 36.5 0.8 1.0 1.4 0.1 0.2

Measured + Indicated 52.8 1.1 1.8 2.1 0.1 0.3

Inferred 25.7 0.6 0.5 1.4 0.1 0.4

0.8 Sulfide


Measured + Indicated 120.9 1.5 6.0 4.5 0.1 3.9

Inferred 23.9 1.2 1.0 4.6 0.1 3.0Variable Stockpiles Measured 20.4 1.0 0.7

Variable Total


Measured + Indicated 194.2 1.4 8.5 3.8 0.1 2.8Inferred 49.6 0.9 1.4 3.0 0.1 1.7

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LEVERAGING OUR PORTFOLIO IN TURKEY · 2014. 5. 13. · Manganese Pit totaled 0.3 million tonnes at...

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