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.

Forward-looking information includes statements concerning, among other
things, whether the sale transaction will be completed; the continued
listing of Alacer shares on the ASX; 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
includes statements concerning, among other things, whether the sale
transaction will be completed; the continued listing of Alacer shares
on the ASX; development of the Çöpler mine, including the sulfide ore;
proposed exploration; production guidance; the study, development and
construction of proposed mines and process facilities; and the
preparation and dissemination of technical studies. 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 government 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; 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.

SOURCE Alacer Gold Corp.