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AuRico Reports 2014 Reserve & Resource Update

Geschrieben am 19-02-2015

Toronto (ots/PRNewswire) -

- Reserves Increase by 207,000 Ounces at Young-Davidson
Underground

- Company-Wide Reserves and M&I Resources Increase by 15% to 10.4
Million Gold Ounces

AuRico Gold Inc. , ("AuRico" or the "Company") today reported its
updated Reserves and Resources, as at December 31, 2014. (Detailed
Mineral Reserve and Resource tables can be found at the end of this
press release).

Mineral Reserves and Resources

Reserve Highlights

As at December 31, 2014, the Company is reporting:


- Reserves at the Young-Davidson underground mine increased by 207,000
ounces, or 6%, over 2013, as the Company was successful in replacing production and
increasing reserves.
- Reserves decreased by 37% at the El Chanate mine, due to both mining depletion
and a reduction in overall slope angles, while reserve grades increased by 5%. The
reduction in planned slope angles came after a thorough external geotechnical review
of geotechnical drilling, mapping and slope performance.


Gold Reserves by asset are summarized in the table below:


Proven and Probable Mineral Reserves[1]

Gold ounces (000's) Gold grade (g/t)
31-Dec-14 2014 2013 Change (%) 2014 2013 Change (%)

Young-Davidson Underground 3,763 3,556 6% 2.74 2.81 (3%)
Young-Davidson Surface 61 140 (57%) 0.76 1.10 (31%)
Total Young-Davidson 3,823 3,696 3% 2.63 2.66 (1%)
Total El Chanate 646 1,023 (37%) 0.74 0.70 5%
Kemess Underground 1,805 1,805 0% 0.56 0.56 0%
AuRico Total 6,274 6,524 (4%) 1.13 1.07 6%

[1]. Detailed Mineral Reserve and Mineral Resource tables follow at the end of this
press release.


In addition to gold reserves, the Company is also reporting copper
reserves of:


- 619 million pounds at the Kemess Underground Project at a reserve grade of
0.28%, using a copper price of $3.00 per pound.


"We remain encouraged with the quality of the underground reserve
base reported from our cornerstone Young-Davidson mine, which has
increased over the prior year with a consistent grade profile. This
robust ore body is comprised of low cost, long life, high margin
ounces and this asset is positioned for a long and profitable mine
life." stated Scott Perry, President and Chief Executive Officer. He
continued, "Company-wide, we are also reporting a significant
increase in our resource base in Canada as a result of our successful
drilling program at Kemess East, as well as through our strategic
joint venture on the promising Lynn Lake Project."

Resource Highlights

As at December 31, 2014 the Company is also reporting the
following Mineral Resources, which are in addition to reserves:


- Measured and Indicated gold resources of 4.1 million gold ounces at a
grade of 0.84 g/t, an increase of 1.6 million ounces, or 64%, primarily related to
additional resources from the Kemess East and Lynn Lake Projects; and
- Inferred gold resources of 2.4 million gold ouncesat a grade of 0.52 g/t, an
increase of 1.9 million ounces, or 409%, primarily related to additional inferred
resources from the Kemess East and Lynn Lake Projects.


Gold mineral resources as at December 31, 2014 by asset are
summarized in the table below:


Gold Resources (in thousands of gold ounces)[1]

Measured & Indicated Inferred

December 31, 2014 2014 2013 2014 2013

Young-Davidson Underground 1,430 1,484 320 323
Young-Davidson Surface 69 32 1 1
Young-Davidson Total 1,499 1,516 321 324
El Chanate Total 69 49 2 14
Kemess Underground 854 854 125 125
Kemess East 939 - 1,424 -
Kemess Property Total 1,793 854 1,549 125
Lynn Lake Total (25%) 657 - 522 -
Orion Total (50%) 65 65 10 10
AuRico Total 4,083 2,484 2,404 472


The Company is also reporting by-product mineral resources:


- Indicated by-product resources including:
- 346 million pounds of copper from the Kemess Underground Project at a
grade of 0.24%; and
- 504 million pounds of copper from the Kemess East Project at a grade of
0.41%.
- Inferred by-product resources including:
- 46 million pounds of copper from the Kemess Underground Project at a grade
of 0.21%; and
- 871 million pounds of copper from the Kemess East Project at a grade of
0.34%.


Chris Bostwick, Senior Vice President, Technical Services for
AuRico Gold Inc. has reviewed the scientific and technical
information contained within this press release and serves as the
Qualified Person as defined by National Instrument 43-101.

Reserves and Resources (as of December 31, 2014)


Mineral Reserve Estimates - Gold

Tonnes Grade Ounces
Category (000's) (g/t) (000's)

Young-Davidson Surface Proven 2,501 0.76 61
Probable - - -
P&P 2,501 0.76 61
Underground Proven 12,499 2.83 1,137
Probable 30,274 2.70 2,626
P&P 42,773 2.74 3,763
Total Young-Davidson P&P 45,273 2.63 3,823
El Chanate Proven 18,255 0.80 472
Probable 8,958 0.60 174
Total El Chanate P&P 27,213 0.74 646
Kemess Underground Proven - - -
Probable 100,373 0.56 1,805
Total Kemess P&P 100,373 0.56 1,805
AuRico Total P&P 172,860 1.13 6,274




Mineral Resource Estimates - Gold
Category Tonnes Grade Ounces
(000's) (g/t) (000's)

Young-Davidson Surface Measured 496 1.13 18
Indicated 1,242 1.28 51
M&I 1,739 1.24 69
Underground Measured 7,855 3.28 829
Indicated 6,090 3.07 601
M&I 13,946 3.19 1,430
Total Young-Davidson M&I 15,684 2.97 1,499
Surface Inferred 31 0.99 1
Underground Inferred 3,608 2.76 320
Total Young-Davidson Inferred 3,639 2.75 321
El Chanate Measured 923 0.58 17
Indicated 1,842 0.87 52
Total El Chanate M&I 2,764 0.77 69
Inferred 184 0.38 2
Kemess Underground Measured - - -
Indicated 65,432 0.41 854
Total Kemess Underground M&I 65,432 0.41 854
Inferred 9,969 0.39 125
Kemess East Measured - - -
Indicated 55,864 0.52 939
Total Kemess East M&I 55,864 0.52 939
Inferred 117,152 0.38 1,424
Lynn Lake (25%) MacLellan Measured 3,753 1.99 240
Indicated 4,344 1.75 244
M&I 8,096 1.86 484
Inferred 475 2.01 31
Farley Lake Measured - - -
Indicated 1,479 3.21 153
M&I 1,479 3.21 153
Inferred 1,091 2.87 101
Burnt Timber Measured - - -
Indicated 255 1.40 11
M&I 255 1.40 11
Inferred 5,860 1.04 195
Linkwood Measured - - -
Indicated 246 1.16 9
M&I 246 1.16 9
Inferred 5,251 1.16 196
Total Lynn Lake M&I 10,076 2.03 657
Inferred 12,676 1.28 522
Orion (50%) Measured - - -
Indicated 554 3.66 65
Total Orion M&I 554 3.65 65
Inferred 91 3.33 10
AuRico Total M&I 150,373 0.84 4,083
Inferred 143,711 0.52 2,404



Mineral Reserve and Resource Estimates - Copper and Silver

Grade Contained Metal
Tonnes Cu Ag Cu Ag
Category (000's) (%) (g/t) (000's) lbs (000's) oz

Kemess Underground Probable Reserves 100,373 0.28 2.0 619,151 6,608
Indicated Resources 65,432 0.24 1.8 346,546 3,811
Inferred Resources 9,969 0.21 1.6 46,101 503
Kemess East Indicated Resources 55,864 0.41 2.0 503,663 3,601
Inferred Resources 117,152 0.34 1.8 871,407 6,739
Orion (50%) Indicated Resources 554 - 309 - 5,503
Inferred Resources 91 - 95 - 275


Notes to Mineral Reserve and Resource tables:


- Mineral Reserves and Resources have been stated as at December 31, 2014.
- Mineral Resources are exclusive of Mineral Reserves. Mineral Resources that
are not Mineral Reserves do not have demonstrated economic viability.
- El Chanate and Young-Davidson assumed a gold price of $1,250 per ounce for
reserves and $1,450 per ounce for resources.
- Kemess Underground assumed a gold price of $1,300 per ounce, a silver price of
$23.00 per ounce, and a copper price of $3.00 per pound for reserves. Kemess
Underground assumed a $13.00 NSR cutoff for resources. Kemess East assumed a $15.00
NSR cutoff for resources.
- Lynn Lake assumed a gold price of $1,555 per ounce for resources.
- Orion assumed a gold price of $850 per ounce and a silver price of $13.00 per
ounce for resources.
- Mineral Reserves assume the following cutoff grades and process recoveries:
- Young-Davidson - Surface: 0.50 gpt cutoff, 91% mill recovery
- Young-Davidson - Underground: 1.90 gpt cutoff, 91% mill recovery
- El Chanate: 0.15 gpt cutoff, 30%-65% leach recovery
- Kemess Underground: $15 NSR cutoff, mill recovery of 72% for gold and 91%
for copper
- Mineral Resources and Mineral Reserves have been classified in accordance
with Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") "CIM Definition
Standards - For Mineral Resources and Mineral Reserves" adopted by the CIM Council in
accordance with the requirements of National Instrument 43-101 Standards of Disclosure
for Mineral Projects ("NI 43-101"), as is 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.
- Orion Mineral Resources are reflected on a 50% basis. Following the completion
of a joint venture agreement, Minera Frisco, S.A.B. de C.V. has a 50% interest in the
Orion project.
- Lynn Lake Mineral Resources are reflected on a 25% basis. AuRico acquired a
25% interest in the Lynn Lake properties in November 2014.
- Mineral Reserve and Resource tonnage and contained metal have been rounded to
reflect the accuracy of the estimate, and numbers may not add due to rounding.
- The Company's normal data verification procedures have been used in
collecting, compiling, interpreting and processing the data used to estimate mineral
reserves and mineral resources and data underlying the information, opinion and
outlook contained herein. Independent data verification has not been performed.
- Mineral Resources were prepared under the supervision and review of Jeffrey
Volk, CPG, FAusIMM, the Director of Reserves and Resources, for AuRico Gold Inc.
Mineral Reserves were prepared under the supervision and review of Chris Bostwick,
FAusIMM, the Senior Vice President Technical Services, for AuRico Gold Inc. Both
Messrs Volk and Bostwick are "Qualified Persons" as defined by National Instrument
43-101.


About AuRico Gold AuRico Gold is a leading Canadian gold producer
with mines and projects in North America that have significant
production growth and exploration potential. The Company is focused
on its core operations including the cornerstone Young-Davidson gold
mine in northern Ontario, and the El Chanate mine in Sonora State,
Mexico. AuRico's project pipeline also includes the advanced
development Kemess Property in northern British Columbia and the Lynn
Lake Gold Camp in northern Manitoba. The Company also has other
exploration opportunities in Canada and Mexico. AuRico's head office
is located in Toronto, Ontario, Canada.

Cautionary Statement This press release 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 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; 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 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.


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

Scott Perry
President and Chief Executive Officer
AuRico Gold Inc.
+1-647-260-8880

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


ots Originaltext: AuRico Gold Inc.
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