Published on November 19, 2013
Ready, Set, Go… GMP Mining Conference November 21, 2013 TSX: AUQ / NYSE: AUQ www.auricogold.com
FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements and forward-looking information as defined under Canadian and U.S. securities laws. All statements, other than statements of historical fact, are forward-looking statements. The words "expect", "believe", "anticipate", "will", "intend", "estimate", "forecast", "budget" and similar expressions identify forward-looking statements. Forward-looking statements include information as to strategy, plans or future financial or operating performance, such as the Company’s expansion plans, project timelines, production plans, projected cash flows or capital expenditures, cost estimates, projected exploration results, reserve and resource estimates and other statements that express management’s expectations or estimates of future performance. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently subject to significant uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, including: uncertainty of production and cost estimates; fluctuations in the price of gold and foreign exchange rates; the uncertainty of replacing depleted reserves; the risk that the Young-Davidson shaft will not perform as planned; the risk that mining operations do not meet expectations; the risk that projects will not be developed accordingly to budgets or timelines, changes in laws in Canada, Mexico and other jurisdictions in which the Company may carry on business; risks of obtaining necessary licenses, permits or approvals for operations or projects such as Kemess; disputes over title to properties; the speculative nature of mineral exploration and development; risks related to aboriginal title claims; compliance risks with respect to current and future environmental regulations; disruptions affecting operations; opportunities that may be pursued by the Company; employee relations; availability and costs of mining inputs and labor; the ability to secure capital to execute business plans; volatility of the Company’s share price; continuation of the dividend and dividend reinvestment plan; the effect of future financings; litigation; risk of loss due to sabotage and civil disturbances; the values of assets and liabilities based on projected future cash flows; risks arising from derivative instruments or the absence of hedging; adequacy of internal control over financial reporting; changes in credit rating; and the impact of inflation. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained herein. Such statements are based on a number of assumptions which may prove to be incorrect, including assumptions about: business and economic conditions; commodity prices and the price of key inputs such as labour, fuel and electricity; credit market conditions and conditions in financial markets generally; revenue and cash flow estimates, production levels, development schedules and the associated costs; ability to procure equipment and supplies and on a timely basis; the timing of the receipt of permits and other approvals for projects and operations; the ability to attract and retain skilled employees and contractors for the operations; the accuracy of reserve and resource estimates; the impact of changes in currency exchange rates on costs and results; interest rates; taxation; and ongoing relations with employees and business partners. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Cautionary Note to U.S. Investors Concerning Measured, Indicated and Inferred Resources This presentation uses the terms "measured," "indicated" and "inferred” resources. We advise investors that while those terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. “Inferred” resources” have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable. 2
Positioned For Value Creation ► Politically-friendly jurisdiction ► Two core high-quality mining assets ► Organic year over year production growth ► Lower end of industry cost curve ► Long mine life ► Strong balance sheet ► Pure gold leverage ► Strong FCF generation (limited CAPEX) ► Capital return to shareholders (regular dividends) 3
Quality North American Asset Base Streamlined Asset Base on the Lower End of the Industry Cost Curve $1,895 Cash cost curve (US$/oz) 2011 gold price range $1,319 Young-Davidson Fosterville Ocampo El Cubo Stawell El Chanate Current Assets Divested Assets Percentile of total gold production Monetized high-cost, non-core assets for proceeds of $1 Billion (2012)(1) (1) Refer to endnote #1. Source: 2011 Brook Hunt Data 4
Robust Financial Position $290M in Liquidity (as of September 30, 2013) $329.6M Returned to Shareholders (as of October 31, 2013) Dividends $29.6M Undrawn Debt Facility $150M Cash & Eq. $140M Share Buyback $300M Fully Funded, Shareholder Value Creation Business Model 5
Disciplined Growth Drives Shareholder Value 60,000 Gold Ounces Produced Young-Davidson El Chanate 50,000 40,000 30,000 20,000 10,000 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13E Solid quarter over quarter production growth (6) Refer to endnote #6. 6
Delivering Reliable and Sustainable Growth First Quarter March 31/13 Second Quarter June 30/13 Third Quarter Sept. 30/13 YTD as of Sept. 30/13 2013 Guidance 28,281 29,252 30,099 87,632 120,000-140,000 $694 $716 $666 $692 $575-$675 17,889 18,751 18,804 55,444 70,000-80,000 $563 $602 $588 $586 $550-$600 46,170 48,003 48,903 143,076 190,000-220,000 $635 $655 $628 $640 $565-$645 $1,090 $1,189 $1,210 $1,164 $1,100-$1,200 Young-Davidson Gold Ounces Produced3 Total Cash Costs per oz.1,2 El Chanate Gold Ounces Produced Total Cash Costs per oz.2 Consolidated Results Gold Ounces Produced3 Total Cash Costs per oz.1,2 All-in Sustaining Cash Costs per oz. 1. 2. 3. Prior to commissioning the underground mine at Young-Davidson, cash costs are calculated on ounces produced from the open pit only. All underground costs are capitalized, and any revenue related to underground ounces sold is credited against capital. Cash costs, prior to long-term, low-grade stockpile and heap leach inventory net realizable value adjustments & reversals. See the Non-GAAP Measures section on page 20 of the Management’s Discussion and Analysis for the three and nine months ended Sept. 30, 2013. Includes pre-production gold ounces from the Young-Davidson underground mine. ► Fifth consecutive quarter of company-wide production growth ► In-line production and cash costs results ► Commercial production at Young-Davidson underground on October 31 ► Well positioned to deliver company-wide quarter over quarter productivity improvements 7
Young-Davidson Gold Mine Stable and Growing Production Profile(6) Gold Ounces Produced 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 Q3 12 (6) Refer to endnote #6. Q4 12 Q1 13 Q2 13 Q3 13 Q4 13E 8
Young-Davidson Underground Unlocking the potential of Young-Davidson U/G Shaft sinking to 890 meters Completed Vertical access to 8 years of production Completed Headframe & hoist construction Completed Ore and waste pass system Completed Mid-shaft loading pocket Completed Hoist & guide cabling Completed Commercial production ► October 31, 2013 Shaft and hoisting system will support: ► ► Significant productivity improvements; ► ► Increased underground development; Significant cost efficiencies ⅔ of 2014 mine plan is currently accessed 9
Young-Davidson Mine 2012A Production (gold ounces)(6) Cash Costs (per gold ounce)(2)(3) All-in Sustaining Cash Costs (per gold ounce)(2)(13) YTD as of Sept. 30/13 2013E(4) 56,138 87,632 120,000-140,000 $708 $692 $575-$675 - - $1,250-$1,350 Open Pit P&P Reserves (oz.)(5) M&I Resources (oz.)(5) 0.9 million Inferred Resources (oz.)(5) MCM shaft operational April/13 3.8 million 1.3 million 9890L ► Low-cost producer & strong year-over-year, production growth profile 9590L ► ► Long mine life: Opportunity for further expansion as reserves increase Highly productive, wide zones ► Mid-Shaft Loading Pocket 9400L 9200L Avg. 20m widths NG Shaft ► Exploration focus on YD West Zone; orebody open at depth (2) Refer to endnote #2. (3) Refer to endnote #3. (4) Refer to endnote #4. (5) Refer to endnote #5. (6) Refer to endnote #6. (13) Refer to endnote #13. MCM Shaft 8900L 10
Young-Davidson Productivity YD ramping-up to be one of largest gold mines in the Abitibi Underground Mine Ramp-up (tpd) (Year-End Productivity) 8,000 Tonnes per day 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 2012A 2013E 2014E 2015E 2016E 2017E Canadian Operating Mines 25 (Mine Life vs. NAV (000‘s)) NAV $3,302 NAV $1,084 NAV $2,488 15 NAV $1,582 NAV $282 NAV $132 Seabee NAV $289 Black Fox Macassa Casa Berardi New Afton NAV $249 Tim/Bell Ck 0 Malartic 5 Young-Davidson NAV $440 10 Detour Lake Mine Life (years) 20 11
El Chanate Gold Mine Consistent, Stable Production Gold Ounces Produced 20,000 17,500 15,000 12,500 10,000 Q4 12 ► Q1 13 Q2 13 Q3 13 Q4 13E Mine life of 7 years (10 years for heap leach) 2012A ► High exploration potential for expansion of existing resources All-in Sustaining Cash Costs (per gold ounce)(2)(13) 55,444 70,000-80,000 $434 $586 $550-$600 - Cash Costs (per gold ounce)(2)(3) 2013E(4) 71,145 Production (gold ounces)(6) YTD as of Sept. 30/13 - $900-$1,000 P&P Reserves (oz.)(5) ► Northwest extension targets ► Southeast extension targets 1.2 million (2) Refer to endnote #2. (3) Refer to endnote #3. (4) Refer to endnote #4. (5) Refer to endnote #5. (6) Refer to endnote #6. (13) Refer to endnote #13. 12
New High Grade Mineralization Rono(5) Hole ID Length (m) Grade Au g/t CHCI-760 CHCI-761 CHCI-766 18.0 42.0 51.0 7.5 19.5 0.88 0.50 0.33 0.74 0.93 CHCI-821 In-Pit Drilling(5) Hole ID Length (m) Grade Au g/t CHCI-775 CHCI-776 CHCI-799 CHCI-836 54.0 48.0 6.0 24.0 2.56 2.90 7.60 2.70 NW Extension(5) Hole ID CHCI-769 CHCI-800 Length (m) 37.5 28.5 Grade Au g/t 0.94 0.67 Loma Prieta(5) Hole ID (5) Refer to endnote #5. Length (m) Grade Au g/t CHCI-815 CHCI-817 CHCI-818 CHCI-829 19.5 9.0 9.0 6.0 0.78 1.37 0.58 1.18 13
Kemess Underground Copper/gold porphyry deposit located in British Columbia, Canada Value Surfacing Opportunity ► Brownfields site with surface infrastructure (incl. mill, power and old pit for tailings storage) ► Gold Eq. reserves: 2.6M ounces(5) ► Underground block cave mine producing 560M lbs Cu and 1.3M oz Au LOM ► Feasibility study (Mar. ‘13) base case at $1,300 Au, $3 Cu and Fx of C$1:US$1 Existing infrastructure: Mill facilities and previously permitted tailings storage Kemess Underground Production Profile(5) 60 250,000 50 200,000 40 150,000 30 100,000 20 50,000 10 Copper Production (millions of pounds) 70 300,000 Gold Production (ounces) 350,000 ► $450M initial capex, $14.56/t unit costs ► Cash costs of $213/oz Au net of Cu credits ► Ongoing optimization work shows potential for >$225M NAV and 12.5% IRR ► Permitting in progress and IMA signed with First Nations ► Significant leverage to higher metal prices 0 0 1 2 3 4 Gold (ounces) (5) Refer to endnote #5. 5 6 7 8 9 10 11 12 13 14 Copper (as Au equivalent ounces) 14
Production and Cash Flow Growth Growing production profile(4)(8) 2012A 2013E 2014E 2015E Decreasing capital expenditures and growing free cash flow stream(9) 2012A 2013E 2014E 2015E Capex FCF $1,600 Au FCF $1,500 Au (4) Refer to endnote #4. (8) Refer to endnote #8. (9) Refer to endnote #9. FCF $1,400 Au FCF $1,300 Au FCF $1,200 Au 15
Sustainable Dividend Policy ► Peer-leading, sustainable dividend ► 20% of OCF beginning in 2014 ► ► ► Encourages financial discipline Linked to changes in business profitability Includes a Dividend Reinvestment Plan (“DRIP”) Illustrative Yield per Street Consensus Operating Cash Flow per Share Initial dividend of $0.16/per share (7)(10) Payout ratio: 20% OCF 4.4% 3.2% 3.4% 2015E 2016E 2.0% 2013E (7) Refer to endnote #7. (10) Refer to endnote #10. 2014E 16
Accretive Growth Per Share Free Cash Flow per Share(4)(9)(10) Operating Cash Flow per Share(10)(12) $0.28 $0.62 2012A $0.48 2013E 2014E 2015E ($0.03) $0.31 ($0.52) $0.14 2012A 2013E 2014E ($1.31) 2015E Gold Production per 1,000 Shares (oz.)(4)(10)(11)(12) 2P Reserves per 1,000 Shares (oz.)(5)(10)(11) 27.7 1.2 24.1 0.9 0.8 18.2 15.5 0.5 8.8 0.2 2011A 2012A (4) Refer to endnote #4. (5) Refer to endnote #5. 2013E 2014E 2015E (9) Refer to endnote #9. (11) Refer to endnote #11. (10) Refer to endnote #10. (12) Refer to endnote #12. Apr. 2011 Oct. 2011 YE 2011 YE 2012 Current 17
Positioned For Value Creation ► Politically-friendly jurisdiction ► Two core high-quality mining assets ► Organic year over year production growth ► Lower end of industry cost curve ► Long mine life ► Strong balance sheet ► Pure gold leverage ► Strong FCF generation (limited CAPEX) ► Capital return to shareholders (regular dividends) 18
Endnotes 1. The Company announced proceeds on sale of over $1 billion dollars during 2012, which is comprised of $55 million cash on the sale of Fosterville and Stawell to Crocodile Gold Corporation, $100 million cash and $100 million in common shares on the sale of the El Cubo mine and Guadalupe y Calvo project to Endeavour Silver Corporation, and $750 million in cash on the sale of the Ocampo mine and a 50% interest in the Orion advanced development project to Minera Frisco. 2. Cash Costs per Gold Ounce and All-In Sustaining Cash Costs Per Gold Ounce are Non-GAAP measures that do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS” or “GAAP”), and that should not be considered in isolation from or as a substitute for performance measures prepared in accordance with GAAP. See the Non-GAAP Measures section on page 20 of the Management's Discussion and Analysis for the nine months ended September 30, 2013 available on the Company website at www.auricogold.com. 3. Cash costs for the Young-Davidson and El Chanate mines are calculated on a per gold ounce basis, net of by-product revenues and net realizable value adjustments. Gold ounces include ounces sold at the El Chanate mine and ounces produced at the Young-Davidson mine. Prior to commissioning the underground mine at Young-Davidson, cash costs are calculated on ounces produced from the open pit only. All underground costs are capitalized, and any revenue related to underground ounces sold is credited against capital expenditures. 4. For more information regarding AuRico Gold’s 2013 operational estimates, including production, costs, and capital investments, please refer to the press release dated March 25, 2013 titled AuRico Reports Fourth Quarter and Annual Financial Results available on the Company website at www.auricogold.com. 5. Reserves and resources for Young-Davidson and El Chanate mines, Kemess Underground Project, and Orion represent gold grade as per technical reports and Company disclosure. For more information regarding AuRico Gold’s Mineral Reserves and Resources as at December 31, 2012 and the Kemess Feasibility Study, please refer to the press release dated March 25, 2013 titled AuRico Reports 2012 Reserve & Resource Update and Kemess Feasibility Study Results, available on the Company website at www.auricogold.com. Measured and indicated resources excludes inferred resources. Core lengths in El Chanate drilling highlights are not necessarily true widths. 6. Production figures include gold ounces only. Production at the Young-Davidson mine includes pre-production ounces, which include ounces produced prior to the declaration of commercial production on September 1, 2012, as well as all ounces produced from the underground mine. 7. The illustrative yield assumes the share price as of October 10, 2013. Figures for 2014-2016 operating cash flow apply consensus data for cash costs, production estimates, and capex figures and a $1,300/oz gold price assumption. Consensus data is as of October 7, 2013. For more information regarding AuRico Gold’s dividend policy, please refer to the press release dated February 21, 2013, available on the Company website at www.auricogold.com. 8. Figures for 2012 include continuing operations only. Figures for 2013 are based on mid-point of AuRico’s 2013 operational estimates. Figures for 2014 and 2015 are based on consensus data only. Consensus data is as of November 12, 2013. 9. Figures for 2012 include continuing operations only. Figures for 2013 are based on mid-point of AuRico’s 2013 operational estimates, and consensus data. The calculation of 2014 and 2015 operating cash flow and free cash flow apply consensus data for cash costs, production estimates, and capex figures, and are based on a $1,300/oz gold price assumption unless noted otherwise. Operating cash flow is before changes in working capital. Consensus data is as of November 12, 2013. 10. 2013 to 2015 per share numbers are based on the number of shares outstanding as of January 31, 2013, subsequent to the completion of a $300M Substantial Issuer Bid. 11. Production per 1,000 shares and reserves and resources per 1,000 shares includes the production, and reserves and resources of the Young-Davidson mine, El Chanate mine, Kemess Underground Project and Orion for each period presented. 12. Figures for 2012 include continuing operations only. Figures for 2013-2015 are based on consensus data as of November 12, 2013. Mid-point of 2013 production guidance is applied for 2013 Gold Production per 1,000 Shares. 13. All-in sustaining cash costs are defined as cash costs, sustaining capital, corporate general and administrative expense, reclamation, care and maintenance expense, and exploration expenditures. Prior to commissioning the underground mine at Young-Davidson, all-in sustaining cash costs are calculated on ounces produced from the open pit only. All underground costs are capitalized, and any revenue related to underground ounces sold is credited against capital expenditures. 20
Analyst Coverage Analyst Coverage 1. BMO Nesbitt Burns 2. Canaccord Genuity 3. CIBC 4. Credit Suisse 5. Cowen Securities 6. Desjardins Securities 7. Dundee Securities 8. GMP Securities 9. Mackie Research 10. Macquarie Securities 11. Merrill Lynch 12. National Bank 13. Raymond James 14. RBC Capital Markets 15. Scotiabank 16. TD Securities 21
2013 Operational Estimates (4) Refer to endnote #4. 2013 Operational Estimates (March 25, 2013)(4) Gold Production (ounces) Young-Davidson El Chanate Total Production Cash Costs per Ounce Young-Davidson El Chanate Total Cash Costs per Ounce All-in Sustaining Cash Costs Young-Davidson El Chanate Total All-in Sustaining Cash Costs per Ounce Capital Investment Program (US$000’s) Young-Davidson Non-recurring Growth Capital Paste Backfill Plant Shaft and Mid-Shaft Loading and Crushing Facility Open Pit Mine Development Sustaining Capital Total Capital Investment – Young-Davidson El Chanate Non-recurring Growth Capital Southeast Open Pit Expansion Heap Leach Expansion Sustaining Capital Total Capital Investment – El Chanate Total Capital Investment Depletion and Amortization (US$ per ounce) Young-Davidson El Chanate Total Depletion and Amortization Exploration (US$000’s) Young-Davidson El Chanate Other Properties Total Exploration General and Administrative (US$000’s) Corporate G&A 120,000-140,000 70,000-80,000 190,000-220,000 $575-$675 $550-$600 $565-$645 $1,250-$1,350 $900-$1,000 $1,100-$1,200 $45,000-$50,000 $25,000-$30,000 $6,000-$8,000 $59,000-$62,000 $135,000-$150,000 $20,000-$25,000 $2,000-$3,000 $8,000-$12,000 $30,000-$40,000 $165,000-$190,000 $300-$310 $245-$255 $280-$290 Up to $3,500 Up to $3,500 Up to $8,000 Up to $15,000 $25,000 22
All-in Sustaining Cash Cost Allocation All-in Sustaining Cash Costs 2013 All-in Sustaining Cash Costs $1,100-$1,200 per ounce Corporate G&A Exploration • Provides increased transparency • More representative of actual cost of production • Removes influence of accounting treatments • Can be reconciled to FCF Sustaining Cost Allocation Materials/ Mtc 9% Consumables 19% Cash Costs Diesel 9% Labour 57% (Includes contract labour) Power 6% 23
El Chanate North West Extension Area 24
El Chanate Rono Area 25
El Chanate Loma Prieta Area 26
Proven and Probable Reserves Proven Reserves Tonnes (000's) Probable Reserves Gold (g/t) Gold Oz. (000's) Tonnes (000's) Gold (g/t) Gold Oz. (000's) El Chanate 36,845 0.68 801 19,015 0.66 403 Young-Davidson - Surface 3,934 1.28 162 2,491 1.36 109 Young-Davidson - Underground 4,547 2.97 434 34,490 2.80 3,100 Total Young-Davidson 8,481 2.19 596 36,981 2.70 3,209 Kemess Underground (KUG) - - - 100,373 0.56 1,805 AuRico - Total 45,326 0.96 1,397 156,369 1.08 5,417 Total Proven and Probable Reserves Tonnes (000's) Gold (g/t) Gold Oz. (000's) El Chanate 55,859 0.67 1,204 Young-Davidson - Surface 6,425 1.31 271 Young-Davidson - Underground 39,037 2.82 3,534 Total Young-Davidson 45,462 2.60 3,804 Kemess Underground (KUG) 100,373 0.56 1,805 AuRico - Total 201,695 1.05 6,813 27
Measured and Indicated Resources Measured Resources Tonnes (000's) Gold (g/t) Indicated Resources Gold Oz. (000's) Tonnes (000's) Gold (g/t) Gold Oz. (000's) El Chanate 1,233 0.31 12 2,235 0.40 29 Young-Davidson - Surface 98 1.60 5 193 1.76 11 Young-Davidson - Underground 877 4.17 118 8,654 2.59 722 Total Young-Davidson 975 3.91 123 8,846 2.58 733 Kemess Underground (KUG) - - - 65,432 0.41 854 Orion (50%) - - - 554 3.66 65 AuRico - Total 2,208 1.90 135 77,067 0.68 1,680 Total Measured and Indicated Resources Tonnes (000's) Gold (g/t) Gold Oz. (000's) El Chanate 3,468 0.37 41 Young-Davidson - Surface 291 1.70 16 Young-Davidson - Underground 9,531 2.74 839 Total Young-Davidson 9,821 2.71 855 Kemess Underground (KUG) 65,432 0.41 854 Orion (50%) 554 3.36 65 AuRico - Total 79,274 0.71 1,815 28
Inferred and Copper Resources Inferred Resources Tonnes (000's) Gold (g/t) Gold Oz. (000's) El Chanate 409 0.48 6 Young-Davidson - Surface 31 0.99 1 Young-Davidson - Underground 13,983 2.80 1,259 Total Young-Davidson 14,014 2.80 1,260 Kemess Underground (KUG) 9,969 0.39 125 Orion (50%) 91 3.33 10 AuRico - Total 24,483 1.78 1,400 Copper Reserves & Resources Kemess Tonnes (000’s) Copper (%) Copper lbs. (000’s) Probable Reserves 100,373 0.28 619,151 Indicated Resources 65,432 0.24 346,546 Inferred Resources 9,969 0.21 46,101 Silver Resources Indicated Resources 554 309 Silver Oz. (000's) 5,503 Inferred Resources 91 95 275 Orion (50%) Tonnes (000's) Silver (g/t) 29
Notes to Reserves and Resources 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 - - - Orion $13.00 NSR $850 $13.00 - Reserves and Resources were prepared under the supervision of the following Qualified Persons: Resources Reserves El Chanate Jeffrey Volk, CPG, FAusIMM, Director Reserves and Resources, AuRico Gold Inc. Chris Sharpe, P.Eng, Manager Mining, AuRico Gold Inc. Young-Davidson - Open Pit Jeffrey Volk, CPG, FAusIMM, Director Reserves and Resources, AuRico Gold Inc. Chris Sharpe, P.Eng, Manager Mining, AuRico Gold Inc. Young-Davidson - Underground Jeffrey Volk, CPG, FAusIMM, Director Reserves and Resources, AuRico Gold Inc. Chris Bostwick, FAusIMM, SVP Technical Services, AuRico Gold Inc. Kemess Underground Jeffrey Volk, CPG, FAusIMM, Director Reserves and Resources, AuRico Gold Inc. Chris Bostwick, FAusIMM, SVP Technical Services, AuRico Gold Inc. Orion Jeffrey Volk, CPG, FAusIMM, Director Reserves and Resources, AuRico Gold Inc. 30
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1 GMP Securities Mining Conference, Montréal November 20-21, 2013 CANADA’S NEXT INTERMEDIATE GOLD PRODUCER