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UPDATE: Alacer Gold Announces First Quarter Mine Production of 100,290 Ounces and Increased Production Guidance; Shares Up Slightly

Alacer Gold Corp. (ASR.TO), which rose more than 2% yesterday in moving further away from a year low of $7.83, announced first quarter 2012 mine production for its operations in Turkey and Australia.

First Quarter 2012 Highlights

- First quarter gold production totalled 100,290 ounces (attributable 91,377 ounces) which was 12% less than the gold production of 113,861 ounces achieved in Q4 2011.

- First quarter gold sold totalled 107,835 ounces (attributable 97,857 ounces).

- Copler Gold Mine gold production decreased to 44,564 ounces (attributable 35,651 ounces) for the quarter compared to Q4 2011. Lower gold production was a result of challenging winter weather conditions, heavy snow fall and lower crusher throughput.

- Despite lower first quarter production than planned, management is increasing 2012 production guidance for Copler to between 195,000 and 200,000 ounces, and overall to between 435,000 and 450,000 ounces, each on a 100% basis.

- Development of Copler's Marble and Main Pits commenced during the quarter following the relocation of all the residents from the old Copler village.

- Gold production from the Higginsville Operations was 33,329 ounces for the quarter as a crusher failure reduced throughput and processing of high-grade Trident ore towards the end of the quarter.

- Ore mined from Trident was 250,066 tonnes for the quarter and productivity was near all-time highs not seen since the early days of mining the Trident orebody in 2008.

- Chalice underground mine development is on schedule for ore production to ramp-up over 2H 2012.

- At the South Kalgoorlie Operations production increased to 22,397 ounces of gold for the quarter, due to increased mill throughput from stockpiles and new open-pit ore sources.

ASR is now at $8.41 with more than 108,000 shares changing hands.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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