Alacer Gold declares special dividend

TORONTO, April 10, 2013 /CNW/ - Alacer Gold Corp. ("Alacer") [TSX: ASR and ASX: AQG] announced today that its Board of Directors has declared a special cash dividend of US$0.24 per share (approximately US$70 million) payable on April 30, 2013 (Toronto time) to shareholders of record at the close of business on April 19, 2013 in connection with the sale of Alacer's 49% interest in the Frog's Leg Mine.

The dividend payment applies to holders of Alacer's common shares, which trade on the Toronto Stock Exchange under the symbol ASR, and to holders of its CHESS depository instruments ("CDIs"), which trade on the Australian Securities Exchange under the symbol AQG. Each CDI confers a beneficial interest in one common share. Therefore, CDI holders are entitled to a dividend calculated on the same basis as the holders of Alacer's common shares.

Alacer sought and has been granted a temporary waiver of certain of the ASX Settlement Operating Rules. Under the authority of the waiver, the processing of conversions of common shares to CDIs, or CDIs to common shares, lodged on or after April 15, 2013, will be deferred until after the record date of April 19, 2013.

The key dates with respect to the dividend are as follows:

The dates set out above are based on the directors' current expectations and may be subject to change. If any of the dates should change, the revised dates will be announced by press release and will be available from www.alacergold.com.

As required by Appendix 6A of the ASX listing rules for Australian income tax purposes, the dividend is unfranked and there is no amount of Conduit Foreign Income per security for this dividend payment.

Payments to Canadian shareholders will be made in Canadian dollars based on the "noon rate" exchange rate in Canada prevailing on the record date as reported by the Bank of Canada.  For CDI holders, payments will be made in Australian dollars at the nominal exchange rate prevailing on the record date as reported by the Bank of Canada as of noon (Toronto time) on the record date. Payments to U.S. shareholders and non-resident shareholders will be made in U.S. dollars.

Shareholders are advised that this dividend is designated by Alacer to be an "eligible dividend" pursuant to subsection 89(14) of the Income Tax Act (Canada) and corresponding provincial legislation. 

About Alacer Gold

Alacer is a leading intermediate gold mining company with interests in multiple mines which provide ore to three processing facilities in Australia and Turkey:

Alacer's primary focus is to maximize portfolio value, maximize free cash flow, minimize project risk, and returning 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, but is not limited in any manner to, statements concerning, among other things, the payment of dividends, matters relating to proposed exploration, communications with local stakeholders and community relations, status of negotiations of joint ventures, weather conditions at our operations, 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 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 factors 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 assumptions about the legal restrictions regarding the payments of dividends by Alacer, exploration results and the ability to explore, the ultimate determination of mineral reserves, availability and final receipt of required approvals, titles, licenses and permits, sufficient working capital to develop and operate the mines, access to adequate services and supplies, commodity prices, ability to meet production targets, 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, lack of legal challenges with respect to the property of Alacer and the ultimate ability to mine, process and sell mineral products on economically favorable terms. 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.