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AuRico Reports 2012 Reserve & Resource Update And Kemess Feasibility Study Results

Notes:      

  • Mineral Reserves and Resources have been stated as at December 31, 2012.
  • Mineral Resources are in addition to Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability when calculated using Mineral Reserve assumptions. Reserves have been reported in accordance with NI 43-101, as required by Canadian securities regulatory authorities. In addition, while the terms "Measured", "Indicated and "Inferred" Mineral Resources are required pursuant to NI 43-101, the SEC does not recognize such terms. Canadian standards differ significantly from the requirements of the SEC, and mineral resource information contained herein is not comparable to similar information regarding mineral reserves disclosed in accordance with the requirements of the SEC. Investors should understand that "Inferred" Mineral Resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. In addition, investors are cautioned not to assume that any part or all of AuRico's Mineral Resources constitute or will be converted into Reserves.
  • Following the completion of a joint venture agreement, Minera Frisco has a 50% interest in the Orion Project.
  • Mineral resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding.

 

The following metal prices were used for the calculation of Reserves and Resources:


                                Reserves                          Resources
                   USD  Au $/oz   Ag $/oz   Cu $/lb     Au $/oz     Ag $/oz    Cu $/lb
    El Chanate          $1,400        -          -      $1,600          -          -
    Young Davidson      $1,400        -          -      $1,600          -          -
    Kemess Underground  $1,300   $23.00      $3.00             $13.00 NSR
    Orion                    -        -          -        $850     $13.00          -

 

  Reserves and Resources were prepared under the supervision of the following Qualified Persons:


                                   Resources                        Reserves
    El Chanate           Jeffrey Volk, CPG, FAusIMM,      Chris Sharpe, P.Eng, Manager
                       Director Reserves and Resources,      Mining, AuRico Gold Inc.
                              AuRico Gold Inc.      Young Davidson
      - Open Pit         Jeffrey Volk, CPG, FAusIMM,       Chris Sharpe, P.Eng, Manager
                       Director Reserves and Resources,      Mining, AuRico Gold Inc.
                              AuRico Gold Inc.      Young Davidson
      - Underground      Jeffrey Volk, CPG, FAusIMM,       Chris Bostwick, FAusIMM, SVP
                       Director Reserves and Resources,        Technical Services,
                              AuRico Gold Inc.                   AuRico Gold Inc.    Kemess Underground   Jeffrey Volk, CPG, FAusIMM,         Chris Bostwick, FAusIMM, SVP
                       Director Reserves and Resources,        Technical Services,
                              AuRico Gold Inc.                   AuRico Gold Inc.    Orion                Jeffrey Volk, CPG, FAusIMM,
                       Director Reserves and Resources,
                              AuRico Gold Inc.   

 

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