TORONTO,
April 17, 2014 /CNW/ - Alacer
Gold Corp. ("Alacer" or the "Corporation")
[TSX: ASR and ASX: AQG] is pleased to announce
Thomas R. Bates, Jr. has been
appointed to Alacer's Board of Directors effective today. In
addition, Mr. Edward C. Dowling, Jr.
has been appointed as Chairman. Mr. Graff will remain on the
Board as independent Lead Director.
Mr. Bates is currently an adjunct professor at
the Neeley School of Business within Texas
Christian University in Fort
Worth, Texas. Before his role at the university, Mr.
Bates served as Managing Director, and then as Senior Advisor, for
thirteen years at Lime Rock Partners, an energy focused private
equity investment firm investing in differentiated oil and gas
oriented businesses. Mr. Bates received his undergraduate degree in
Mechanical Engineering, his Master of Science in Mechanical
Engineering and his Mechanical Engineering doctorate at the
University of Michigan. Mr. Bates is
also currently on the Board of Directors of Hercules Offshore,
Inc., Tetra Technologies, Inc. and Independence Contract Drilling,
LLC.
Mr. Edward
Dowling, commented, "On behalf of the Board and the
Corporation, I'd like to welcome Mr. Bates to the Board as his
skills and experience will complement our existing Board of
Directors. Mr. Bates' diverse experience will be valuable as we
grow our asset base in Turkey. I
would also like to thank Mr. Graff for his contribution as interim
Chairman over the last eight months. We are pleased that Mr. Graff
will remain on the Board as independent Lead Director and he will
continue to provide valuable input over the coming years."
About Alacer
Alacer Gold Corp. is a leading intermediate gold
mining company and its world-class operation is the 80% owned
Çöpler Gold Mine in Turkey.
Alacer also has 11 active exploration projects in
Turkey which are joint ventures
with our Turkish partner Lidya Mining.
During 2013, Çöpler produced 216,850
attributable1 ounces at an All-In Costs2 of
$864 per ounce.
Çöpler is currently an open-pit, heap-leach
operation that is producing gold from oxide ore. The treatment of
sulfide ore via pressure oxidation is being evaluated and a
Definitive Feasibility Study is planned to be completed in Q2
2014.
_______________________________
1 Attributable gold production is reduced by the
20% non-controlling interest at Çöpler Gold Mine.
2 All-in Costs/ounce is a non-IFRS finanancial
performance measure with no standardized definition under IFRS. For
further information and detailed reconciliation, see the "Non-IFRS
Measures" section of the MD&A for the year ended December 31, 2013.
SOURCE Alacer Gold Corp.