AuRico Gold Reports First Quarter Financial Results, Reports Seventh Consecutive Quarter of Record Gold Production and Reaffirms 2014 Guidance; Company Provides Outlook for April

Toronto (ots/PRNewswire) -

AuRico Gold Inc. , ("AuRico" or the "Company") reports financial
results for the three months ended March 31, 2014 and reaffirms 2014
guidance. The Company will host a conference call on Friday, May 9,
2014 beginning at 8:30 a.m. Eastern Time (details below). (All
amounts are in U.S. dollars, unless otherwise indicated.)

AuRico Gold Record Quarter-Over-Quarter Production Growth Graph
[http://files.newswire.ca/975/AuRicoProductionGraph.pdf ]

Financial Highlights

Quarter Ended Quarter Ended
(in thousands, except per share amounts) March 31, 2014 March 31, 2013
Revenues $70,953 $64,885
Adjusted net (loss) / earnings[(1)] ($7,608) $11,598
Adjusted net (loss) / earnings per share, basic(1) ($0.03) $0.04
Net loss / earnings ($28,891) $18,274
Net loss / earnings per share, basic ($0.12) $0.07
Adjusted operating cash flow(1) $13,469 $20,122

Operational Highlights

Young-Davidson El Chanate Total
(in thousands,
except ounces,
average realized
prices and total Quarter Quarter Quarter Quarter Quarter Quarter
cash costs) Ended Ended Ended Ended Ended Ended
March 31 March 31 March 31 March 31 March 31 March 31
2014 2013 2014 2013 2014 2013
Gold ounces
produced 35,104 20,552 19,110 17,889 54,214 38,441
Pre-production
gold ounces
produced(3) - 7,729 - - - 7,729
Total gold ounces
produced 35,104 28,281 19,110 17,889 54,214 46,170
Underground
cash costs
per gold
ounce(2)(3) $808 - - - $808 -
Open pit
cash costs
per gold
ounce(2)(3) $1,350 $694 $586 $563 $914 $635
Total cash costs
per gold
ounce(2)(3) $1,009 $694 $586 $563 $870 $635
Revenue from
mining operations $47,016 $36,765 $23,937 $28,120 $70,953 $64,885
Average realized
gold price per
ounce $1,294 $1,630 $1,303 $1,622 $1,297 $1,627

(1) See the tables at the end of this press release for a
reconciliation of adjusted net earnings and adjusted operating cash
flow and refer to the discussion of Non-GAAP measures below.

(2) For the quarter ended March 31, 2014, cash costs per gold
ounce are calculated using gold ounces sold at the El Chanate mine
and Young-Davidson mine. For 2013, cash costs per gold ounce are
calculated using ounces sold at the El Chanate mine and ounces
produced at the Young-Davidson mine. Total cash costs per gold ounce
have been presented prior to inventory net realizable value
adjustments where applicable. See the discussion of Non-GAAP measures
below.

(3) The Young-Davidson underground mine declared commercial
production on October 31, 2013, and is therefore excluded from cash
costs prior to this date. Pre-production ounces produced are excluded
from consolidated ounces produced as these ounces are credited
against capitalized project costs when sold.

Quarterly Operational Results
First Quarter Second Quarter Third Quarter Fourth Quarter First Quarter
March 31/13 June 30/13 Sept. 30/13 Dec. 31/13 Mar. 31/14
Gold Ounces
Produced3 46,170 48,003 48,903 49,526 54,214
Total Cash
Costs per
oz.1,2,4 $635 $655 $628 $771 $870

1. Prior to commissioning the underground mine at Young-Davidson,
cash costs were calculated on ounces produced from the open pit only.
All underground costs were capitalized, and any revenue related to
underground ounces sold was credited against capital. Subsequent to
the declaration of commercial production in the underground mine on
October 31, 2013, cash costs are calculated on ounces from both the
open pit and underground mines, and revenue related to the sale of
underground ounces is recognized in the Company's Statement of
Operations as revenue.

2. Cash costs are prior to inventory net realizable value
adjustments, where applicable. See the Non-GAAP Measures section on
page 16 of the Management's Discussion and Analysis for the three
months ended March 31, 2014.

3. Includes pre-production gold ounces from the Young-Davidson
underground mine prior to the declaration of commercial production on
October 31, 2013.

4. For the quarter ended March 31, 2014, cash costs per gold ounce
are calculated using gold ounces sold at the El Chanate mine and
Young-Davidson mine. For 2013, cash costs per gold ounce are
calculated using ounces sold at the El Chanate mine and ounces
produced at the Young-Davidson mine.

April Productivity Outlook

Young-Davidson Outlook:

- Underground productivity continued to ramp-up and averaged a record 3,213
tonnes per day at grades consistent with reserve grades.
- The mill facility operated at planned processing levels as the team continued
its disciplined scale-up to higher productivity levels as provided by a recent permit
increase to a daily limit of 10,000 tonnes per day.
- Young-Davidson reported record monthly production in April that positions the
mine to deliver its eighth consecutive quarter of production growth. The Company
anticipates second quarter production of between 36,000 and 38,000 ounces from the
Young-Davidson mine.

El Chanate Outlook:

- Open pit productivity remained in-line with targeted levels and averaged
96,686 tonnes per day.
- Crushing and stacking rates remained in-line with targeted levels and averaged
20,694 tonnes per day.
- The Company anticipates second quarter production of between 18,000 and 19,000
ounces from the El Chanate mine.

Young-Davidson

- During the first quarter, the underground mine averaged approximately
2,611 tonnes per day (3,213 tpd in April) at grades in-line with reserve grade
estimates. Underground productivity is expected to increase steadily throughout the
remainder of the year to reach a productivity target of 4,000 tonnes per day by the
end of the year and an ultimate productivity level of 8,000 tonnes per day at the end
of 2016.
- During the first quarter, underground unit mining costs were approximately $45
per tonne, which includes paste fill operations following the commissioning of paste
backfill plant on January 1. Unit costs are expected to decrease steadily throughout
the year, corresponding with planned quarter-over-quarter increases in underground
productivity.
- Underground cash costs for the quarter were $808 per gold ounce, in-line with
planned levels. Cash costs are expected to decline throughout the year, corresponding
with planned quarter-over-quarter increases in underground productivity to be in-line
with guided levels.
- During the quarter, underground development advance exceeded planned levels
with approximately 3,772 metres completed, an average of 42 metres per day. The
Company continues to advance underground development to position the mine for
sustainable, period-over-period, productivity increases in 2014 and beyond.
- Open pit mine productivities remained at targeted levels and averaged 26,445
tonnes per day during the quarter. As anticipated in the mine plan, the open pit will
be fully depleted during the latter part of May at which time approximately 3.3
million tonnes of open pit ore will be stockpiled ahead of the mill facility for
future processing at an average grade of approximately 0.80 grams per tonne. As open
pit mining activities cease, related mining costs will be eliminated and operating
cash flow is expected to increase as stockpiled open pit ore is processed. Open pit
cash costs are expected to decrease over the balance of the year to guided levels. The
stripping ratio during the quarter was 2.3:1 and is expected to decrease to average
below 1.5:1 for the remaining four to six weeks of open pit operations.
- The mill facility averaged 7,163 tonnes per day during the quarter in-line
with the 2014 target of between 7,000 and 7,500 tonnes per day. The Company recently
received the necessary permits to increase the daily processing limit of the mill
facility to 10,000 tonnes per day from the previous 8,000 tonnes per day. While the
mill facility is expected to average between 7,000 and 7,500 tonnes per day in 2014
this increase in throughput capacity will provide considerable flexibility as the mine
continues ramping up to its target of 8,000 tonnes per day at the end of 2016. This
productivity upgrade also provides organic growth optionality that could permit early
treatment of the longer term stockpile inventory, which could potentially enhance our
future cash flow profile.
- Capital investment is expected to decrease over the balance of the year as
projects are completed, with the majority of expenditures scheduled for the first half
of the year.

El Chanate Update

- The El Chanate open pit mined an average of approximately 95,402 tonnes
per day during the quarter in-line with planned levels (96,686 tpd in April).
- Crushing and stacking rates remained in-line with targeted levels and averaged
19,705 tonnes per day (20,694 tpd in April).
- Cash costs for the quarter were $586 per gold ounce, below guidance levels.

Corporate Highlights

- On March 27, 2014 the Company announced the closing of a private offering
of $315 million aggregate principal amount of Senior Secured Second Lien Notes due
2020 (the "notes"). The notes were issued with a coupon of 7.75% and sold at 96.524%
of par. The Company used the net proceeds to repurchase 99.6% of its 3.5% Convertible
Notes (the "Convertible Notes") and to repay the $75 million outstanding under the
Company's credit facility. The remaining funds will be used for general corporate
purposes, which may include funding capital expenditures to support organic growth.
The completion of the financing extends all debt maturities to 2020 and provides
significant flexibility in any gold price environment.
- On April 3, 2014 the Company announced the completion of a cash tender offer
for the Convertible Notes held by the Company. The Company received valid tenders for
99.6% of the outstanding principal amount of Convertible Notes.
- On January 4, 2014, the Company announced the declaration of a dividend of
$0.04 per share, which was paid on January 29, 2014 to shareholders of record at the
close of business on January 14, 2014. Commencing in 2014, the Company's dividend will
be linked to operating cash flow, whereby the Company intends to pay 20% of the
operating cash flow generated in the preceding quarter.

"For the seventh consecutive quarter the Company has reported
growing production that is primarily driven by the world class
Young-Davidson mine and remains on track to deliver the eighth
consecutive quarter of production growth in the second quarter. This
core asset continues to deliver disciplined, quarter-over-quarter
productivity growth that targets achieving 4,000 tonnes per day at
the end of the year and 8,000 tonnes per day at the end of 2016.
These ongoing productivity enhancements are expected to drive ongoing
improved unit cost efficiencies going forward and we remain firmly
on-track to meet our 2014 guidance", stated Scott Perry, President
and Chief Executive Officer. He continued, "With a solid balance
sheet, a quality asset base and a management team focused on
shareholder value creation, the Company is well positioned for
long-term success."

Adjusted Net Earnings Reconciliation

(in thousands, except per share metrics) Quarter Ended Quarter Ended
March 31, March 31,
2014 2013
Net (loss) / earnings ($28,891) $18,274
Adjustments:
Deferred income tax expense related to foreign
exchange 12,656 701
Foreign exchange gain (5,948) (936)
Gain on option component of convertible notes (413) (6,869)
Unrealized and realized (gain) / loss on
investments (5,810) 112
Unrealized gain on derivatives - (2,675)
Loss on convertible notes tender offer 15,645 -
Unrealized loss on contingent consideration - 2,789
Corporate restructuring costs 2,716 -
Other (including tax effect of adjustments) 2,437 202
Adjusted net (loss) / earnings ($7,608) $11,598
Adjusted net (loss) / earnings, per share ($0.03) $0.04

Adjusted Operating Cash Flow Reconciliation

(in thousands, except per share metrics) Quarter Ended Quarter Ended
March 31, 2014 March 31, 2013
Operating cash flow $24,491 $13,099
Add back: Non-cash change in operating working capital (11,021) 7,023
Adjusted operating cash flow $13,469 $20,122
Adjusted operating cash flow, per share $0.05 $0.08

Adjusted Earnings before Interest, Taxes, Depreciation and
Amortization ("Adjusted EBITDA")

(in thousands) Quarter Ended Quarter Ended
March 31, 2014 March 31, 2013
EBITDA $6,479 $34,881
Add back:
Exploration 8 2
Non-cash items identified in supplemental cash flow
note, excluding amortization and depletion, and
deferred income tax expense / recovery 9,200 (4,835)
Adjusted EBITDA $15,687 $30,048

Non-GAAP Measures

The Company uses the measures adjusted net earnings, cash costs
per ounce, adjusted operating cash flow, EBITDA and Adjusted EBITDA
in this press release, which do not have a standardized meaning
prescribed by International Financial Reporting Standards ("IFRS" or
"GAAP"). They are, therefore, considered to be non-GAAP measures and
may not be comparable to similar measures presented by other
companies. The non-GAAP measures cash costs per ounce and EBITDA are
reconciled to the Company's financial statements beginning on page 16
of the Company's Management's Discussion and Analysis for the three
months ended March 31, 2014.

Adjusted net earnings is comprised of net earnings, adjusted for
specific items. While the adjustments to net earnings in this measure
include items that are recurring, adjusted net earnings is a useful
measure as the unrealized gains / losses on foreign exchange, fair
value adjustments on contingent consideration and derivatives,
unrealized and realized gains and loss on investments, corporate
restructuring costs, and other non-recurring items do not reflect the
underlying operating performance of the Company's core mining
business in the periods presented and are not necessarily indicative
of future operating results.

Adjusted operating cash flow excludes the change in non-cash
operating working capital, which includes changes in receivables,
inventories, prepaid assets, and payables. Management uses adjusted
operating cash flow as a measure internally to evaluate the
underlying operating cash flow performance of the Company as a whole
for the reporting periods presented, and to assist with the planning
and forecasting of future operating cash flow.

Adjusted EBITDA represents EBITDA, adjusted for exploration
expense and other non-cash items included in earnings. While the
adjustments to net earnings in this measure includes items that are
recurring, adjusted EBITDA a valuable indicator of the Company's
ability to generate liquidity by producing operating cash flow to
fund working capital needs, service debt obligations, and fund
capital expenditures.

Financial Statements and Management's Discussion and Analysis

The financial statements and related Management's Discussion and
Analysis can be found on the Company's website at
http://www.auricogold.com or under the Company's profile on
http://www.sedar.com and with the Securities and Exchange Commission
at http://www.sec.gov/edgar.shtml ("Edgar").

Q1 2014 Dividend Declared

Commencing in 2014, the quarterly dividend is linked to operating
cash flow ("OCF"), whereby the Company pays out 20% of the OCF
generated in the preceding quarter, divided by the Company's
outstanding common shares at the time the dividend is approved. On
May 8, 2014, the Board of Directors declared the Company's quarterly
dividend payment of $0.02 per share for the first quarter ended March
31, 2014, payable on June 3, 2014 to shareholders of record at the
close of business on May 20, 2014. Further information on the
Company's dividend reinvestment plan (DRIP) is available through the
following link: http://www.auricogold.com/DRIP.

Upcoming News Flow

The Company expects to issue the following updates in the coming
months:

- Annual General Meeting (May 9)
- Q2 2014 Production Preview (mid-July)
- Q2 2014 Financial Results (August 8)

First Quarter Webcast and Conference Call

A webcast and conference call will be held on Friday, May 9, 2014
starting at 8:30 a.m. Eastern Time. Senior management will be on the
call to discuss the results.

Conference Call Access

- International & Toronto: 1-647-427-7450
- Canada & U.S. Toll Free: 1-888-231-8191

Please ask to be placed into the AuRico Gold 2014 First Quarter
Results Conference Call.

Conference Call Live Webcast

The conference call will be broadcast live on the internet via
webcast. To access the webcast, please follow this link:
http://www.newswire.ca/en/webcast/detail/1335375/1475981.

Archive Call Access

If you are unable to attend the conference call, a replay will be
available until midnight, May 16, 2014 by dialing the appropriate
number below:

- International & Toronto: 1-416-849-0833 Passcode: #27449372
- Canada & U.S. Toll Free: 1-855-859-2056 Passcode: #27449372

Archive Webcast

The webcast will be archived for 90 days. To access the archived
webcast, visit the Company's website at http://www.auricogold.com or
follow this link:
http://www.newswire.ca/en/webcast/detail/1335375/1475981.

Annual General and Special Meeting

AuRico Gold's 2014 Annual General and Special Meeting for
shareholders will be held on Friday, May 9, 2014 at 10:00 a.m.
Eastern Time, at the TMX Broadcast Centre, 130 King Street West,
Toronto, Ontario.

About AuRico Gold

AuRico Gold is a leading Canadian gold producer with mines and
projects in North America that have solid production growth and
exploration potential. The Company is focused on its core operations
including the Young-Davidson gold mine in northern Ontario and the El
Chanate mine in Sonora State, Mexico. AuRico's project pipeline also
includes development opportunities in Canada and Mexico. AuRico's
head office is located in Toronto, Ontario, Canada.

Cautionary Statement

This press release contains certain information that constitutes
"forward-looking information" and "forward-looking statements" 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", "schedule" and similar
expressions identify forward-looking statements. Forward-looking
statements in this press release include, without limitation,
information as to our strategy, plans and future financial and
operating performance, such as our expansion plans, project
timelines, production plans, projected cash flows or capital
expenditures, cost estimates, mining or milling methods, projected
exploration results, resource and reserve estimates and other
statements that express our 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 at the time of making such statements, are inherently
subject to significant business, economic and competitive
uncertainties and contingencies. Known and unknown factors could
cause actual results to differ materially from those projected in the
forward-looking statements. Such factors include, but are not limited
to: changes to current estimates of mineral reserves and resources;
fluctuations in the price of gold; changes in foreign exchange rates
(particularly the Canadian dollar, Mexican peso and U.S. dollar); the
impact of inflation; changes in our credit rating; any decision to
declare a quarterly dividend; employee relations; litigation;
disruptions affecting operations; availability of and increased costs
associated with mining inputs and labor; development delays at the
Young-Davidson mine; operating or technical difficulties in
connection with mining or development activities; inherent risks
associated with mining and mineral processing; the risk that the
Young-Davidson and El Chanate mines may not perform as planned;
uncertainty with the Company's ability to secure capital to execute
its business plans; the speculative nature of mineral exploration and
development, including the risks of obtaining necessary licenses and
permits, including the necessary licenses, permits, authorizations
and/or approvals from the appropriate regulatory authorities for the
Kemess Underground project; contests over title to properties;
changes in national and local government legislation in Canada,
Mexico and other jurisdictions in which the Company does or may carry
on business in the future; risk of loss due to sabotage and civil
disturbances; the impact of global liquidity and credit availability
and the values of assets and liabilities based on projected future
cash flows; risks arising from holding derivative instruments;
business opportunities that may be pursued by the Company.

Actual results and developments are likely to differ, and may
differ materially, from those expressed or implied by the
forward-looking statements contained in this press release. Such
statements are based on a number of assumptions which may prove to be
incorrect, including, but not limited to, the assumptions set forth
in our most recent Form 40-F/Annual Information Form. Readers are
cautioned that forward-looking statements are not guarantees of
future performance. All of the forward-looking statements made in
this press release are qualified by these cautionary statements.
Specific reference is made to the most recent Form 40-F/Annual
Information Form on file with the SEC and Canadian provincial
securities regulatory authorities for a discussion of some of the
factors underlying forward-looking statements.

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 press release 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.

PDF available at: http://40rhel5streamview01.newswire.ca/media/201
4/05/08/20140508-750849-40133-ee9fac10-b2af-444e-8c68-f886b1e680bd.pd
f

For further information:

For further information please visit the AuRico Gold website at
http://www.auricogold.com or contact:

Rob Chausse
Executive Vice President & Chief Financial Officer
AuRico Gold Inc.
+1-647-260-8880

Anne Day
Vice President, Investor Relations and Communications
AuRico Gold Inc.
+1-647-260-8880

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