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Alacer Gold Announces Approval Of Australian Business Unit Sale

TORONTO, Oct. 24, 2013 /CNW/ - Alacer Gold Corp. ( "Alacer") (TSX: ASR) and (ASX: AQG) is pleased to announce that the Australian Foreign Investment Review Board has approved the sale of Alacer's Australian Business Unit (which includes the Higginsville and South Kalgoorlie Operations) to a subsidiary of Metals X Limited, an Australian public company with shares listed on the ASX ( ASX: MLX).

Pursuant to the terms of the share sale agreement, the transaction is expected to close within five business days.

About Alacer

Alacer Gold Corp. is a leading intermediate gold mining company with interests in multiple mines which provide ore to three processing facilities in Australia and Turkey:

  • 80% interest in the Çöpler Mine;
  • 100% interest in the Higginsville Operations; and
  • 100% interest in the South Kalgoorlie Operations.

Alacer's primary focus is to maximize portfolio value, maximize free cash flow, minimize project risk, and return value to shareholders.  Alacer has a strong balance sheet and is committed to responsibly developing its current operations and focused exploration programs creating value.

Cautionary Statements

Except for statements of historical fact relating to Alacer, certain statements contained in this press release 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 be contained in this document and other public filings of Alacer. Forward-looking information often relates to statements concerning 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", "continue" or other similar expressions concerning matters that are not historical facts.

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