TORONTO, March 28, 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 49% minority interest in the
Frog’s Leg Mine joint venture, its 24.5% interest in the Lake Greta
joint venture, and its 40% interest in the Avoca joint venture to La
Mancha Resources Australia Pty Limited.

The transaction is expected to close on April 5, 2013. After closing,
Alacer’s Board of Directors will approve the related special dividend
of approximately $70 million and a record date for determining Alacer’s
shareholders will be set. Additional details regarding the special
dividend will be released to the market once final.

Mr. David Quinlivan, President and Chief Executive Officer of Alacer
stated, “The impending closing of the Frog’s Leg sale and finalizing
the special dividend demonstrates Alacer’s commitment to maximizing
portfolio value and returning value to shareholders.”

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

Alacer’s operations produced a total of 381,738 attributable¹ ounces of gold during 2012. At December 31, 2011 Alacer’s attributable
Mineral Resources totalled 13.8 million ounces of gold and Ore Reserves
totaled 5.3 million ounces of gold.

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.

Forward-looking information includes statements concerning, among other
things, that Alacer and its subsidiaries will complete the proposed
transactions in accordance with the terms and conditions of the asset
sale and purchase agreement (including the satisfaction of the
requisite conditions contained in the asset sale and purchase agreement
and to pay any distributions related thereto); that adjustments
required to the purchase price pursuant to the asset sale and purchase
agreement, interim toll treatment agreement and 18‐month toll treatment
agreement will not materially alter the aggregate consideration payable
to Alacer and its subsidiaries; the generation of free cash flow and
payment of dividends; matters relating to proposed exploration,
communications with local stakeholders and community relations;
negotiations of joint ventures, negotiation and completion of
transactions; commodity prices; mineral resources, mineral reserves,
realization of mineral reserves, existence or realization of mineral
resource estimates; the development approach, the timing and amount of
future production, timing of studies and analyses, the timing of
construction and development of proposed mines and process facilities;
capital and operating expenditures; economic conditions; availability
of sufficient financing; exploration plans and any and all other
timing, exploration, development, operational, financial, budgetary,
economic, legal, social, regulatory and political matters that may
influence or be influenced by future events or conditions.

Such forward-looking information and statements are based on a number of
material factors and assumptions, including, but not limited in any
manner to, those disclosed in any other of Alacer’s filings, and
include the inherent speculative nature of exploration results; the
ability to explore; communications with local stakeholders and
community and governmental relations; status of negotiations of joint
ventures; weather conditions at Alacer’s operations, commodity prices;
the ultimate determination of and realization of mineral reserves;
existence or realization of mineral resources; the development
approach; availability and final receipt of required approvals, titles,
licenses and permits; sufficient working capital to develop and operate
the mines and implement development plans; access to adequate services
and supplies; foreign currency exchange rates; interest rates; access
to capital markets and associated cost of funds; availability of a
qualified work force; ability to negotiate, finalize and execute
relevant agreements; lack of social opposition to the mines or
facilities; lack of legal challenges with respect to the property of
Alacer; the timing and amount of future production and ability to meet
production targets; timing and ability to produce studies and analyses;
capital and operating expenditures; economic conditions; availability
of sufficient financing; the ultimate ability to mine, process and sell
mineral products on economically favorable terms and any and all other
timing, exploration, development, operational, financial, budgetary,
economic, legal, social, regulatory and political factors that may
influence future events or conditions. While we consider these factors
and assumptions to be reasonable based on information currently
available to us, they may prove to be incorrect.

You should not place undue reliance on forward-looking information and
statements. Forward-looking information and statements are only
predictions based on our current expectations and our projections about
future events. Actual results may vary from such forward-looking
information for a variety of reasons, including but not limited to
risks and uncertainties disclosed in Alacer’s filings at www.sedar.com and other unforeseen events or circumstances. Other than as required by
law, Alacer does not intend, and undertakes no obligation to update any
forward-looking information to reflect, among other things, new
information or future events.

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¹ Attributable gold production includes Alacer’s 49% share of Frog’s Leg
and 80% of Çöpler.

SOURCE ALACER GOLD CORP.