Alacer Gold Announces Results of Annual and Special Meeting of Shareholders

TORONTO, June 08, 2018 (GLOBE NEWSWIRE) -- Alacer Gold Corp. (“Alacer” or the “Corporation”) (TSX:ASR) (ASX:AQG) is pleased to announce the results of its 2018 Annual and Special Meeting of Shareholders (the “Meeting”) held on June 7, 2018 in Denver, Colorado.

All matters presented for approval at the Meeting by management were duly authorized and approved, as follows:

(I) Election of director nominees, listed in the Corporation’s Management Information Circular dated May 2, 2018, to the board of directors of the Corporation;

(II) Appointment of PricewaterhouseCoopers LLP, Chartered Professional Accountants, as auditors of the Corporation for the ensuing fiscal year and authorization of the directors to fix their remuneration;

(III) Approval and ratification, on an advisory basis, of the Corporation’s approach to executive compensation.

Detailed voting results (according to proxies received and a vote by show of hands) regarding the election of directors are as follows:

Further details on the above matters are set forth in the Corporation’s meeting materials, including the Corporation’s Management Information Circular dated May 2, 2018, accessible under the Corporation’s issuer profile on SEDAR at www.sedar.com.  The Corporation has also filed a report of voting results on all resolutions voted on at the Meeting on SEDAR at www.sedar.com. 

About Alacer Gold

Alacer is a leading low-cost gold producer, with an 80% interest in the world-class Çöpler Gold Mine in Turkey operated by Anagold, and the remaining 20% owned by Lidya. The Company’s primary focus is to leverage its cornerstone Çöpler Mine and strong balance sheet to maximize portfolio value and free cash flow, minimize project risk, and therefore, create maximum value for shareholders. The Çöpler Mine is in east-central Turkey in the Erzincan Province, approximately 1,100 kilometers southeast from Istanbul and 550 kilometers east from Ankara, Turkey’s capital city.

Alacer is actively pursuing initiatives to enhance value beyond the current mine plan:

• Çöpler Oxide Production Optimization – Expansion of the existing heap leach pad capacity to 58 million tonnes continues in preparation for the addition of oxide ore from Çakmaktepe reserves expected in Q4 2018, pending approval of the revised Çakmaktepe Environmental Impact Assessment (“EIA”) and operating permits. The Corporation continues to evaluate opportunities to extend oxide production beyond the current reserves with in-pit exploration, Çöpler District exploration, and evaluating options to increase heap leach pad capacity, including potential for a new heap leach pad to the west of the Çöpler Gold Mine.
   
• Çöpler Sulfide Expansion Project (the “Sulfide Project”) – The Sulfide Project is over 85% complete with commissioning underway. Additionally, the Project is under budget and on schedule for start-up in Q3 2018. The Sulfide Project is expected to deliver long-term growth with robust financial returns and adds 20 years of production at Çöpler. The Sulfide Project will bring Çöpler’s remaining life-of-mine (“LoM”) gold production to approximately 4 million ounces at All-in Sustaining Costs averaging $645 per ounce^{1, 2}.
   
• The Corporation continues to pursue opportunities to further expand its current operating base to become a sustainable multi-mine producer with a focus on Turkey. The systematic and focused exploration efforts in the 80% owned Çöpler District, as well as in other regions of Turkey, are progressing. In February 2018, the Corporation announced additional positive drilling results at Ardich³ within the Çöpler District. The Çöpler District remains the focus, with the goal of continuing to grow oxide resources that will deliver production utilizing the existing Çöpler infrastructure. In the other regions of Turkey, targeted exploration work continues, and work on the Definitive Feasibility Study for the Gediktepe Project⁴ is expected to be complete later in 2018.  

Alacer is a Canadian corporation incorporated in the Yukon Territory with its primary listing on the Toronto Stock Exchange. The Corporation also has a secondary listing on the Australian Securities Exchange where CHESS Depositary Interests (“CDIs”) trade.

For further information on Alacer Gold Corp., please contact:
Lisa Maestas – Director, Investor Relations at +1-303-292-1299

^[1] All-in Sustaining Costs per ounce is a consolidated non-IFRS performance measure with no standardized definition under IFRS. For further information and a detailed reconciliation to IFRS, please see the “Non-IFRS Measures” section of this MD&A.
^[2] Detailed information regarding the Sulfide Project, including the material assumptions on which the forward-looking financial information is based, can be found in the technical report dated June 9, 2016 entitled “Çöpler Mine Technical Report” available on www.sedar.com and on www.asx.com.au.
^[3] Detailed information, including complete drill hole data, can be found in the press release entitled “Alacer Announced Additional Positive Drilling Results for the Çöpler District including 67.7 Meters at 4.08 Grams per Tonne Gold Near Surface”, filed on February 26, 2018, which is available on www.sedar.com and on www.asx.com.au.
^[4] Additional information on the Gediktepe Project can be found in the press release entitled “Alacer Gold Announces a New Reserve for its Gediktepe Project Providing Future Growth,” dated September 13, 2016, available on www.sedar.com and on www.asx.com.au.