TORONTO, May 26, 2016 (GLOBE NEWSWIRE) -- Alacer Gold Corp. (“ Alacer ” or the “ Corporation ”) (TSX: ASR ) (ASX:AQG) is pleased to announce the results of its 2016 Annual and Special Meeting of Shareholders (the “ Meeting ”) held on May 25, 2016 in Denver, Colorado.
All matters presented for approval at the Meeting by management were duly authorized and approved, as follows:
(I) Election of director nominees, listed in the Corporation’s Management Information Circular dated April 22, 2016, to the board of directors of the Corporation;
(II) appointment of PricewaterhouseCoopers LLP, Chartered Professional Accountants, as auditors of the Corporation for the ensuing fiscal year and authorization of the directors to fix their remuneration; and
(III) approval and ratification, on an advisory basis, of the Corporation’s approach to executive compensation.
Detailed voting results (according to proxies received and a vote by show of hands) regarding the election of directors are as follows:
| Director | Vo te Type | Number of Shares | Percentage of Votes Cast | ||
| Rodney P. Antal | Votes For: | 190,749,307 | 97.72 | % | |
| Votes Withheld: | 4,450,641 | 2.28 | % | ||
| Thomas R. Bates, Jr. | Votes For: | 177,907,096 | 91.14 | % | |
| Votes Withheld: | 17,292,852 | 8.86 | % | ||
| Edward C. Dowling, Jr. | Votes For: | 185,982,730 | 95.28 | % | |
| Votes Withheld: | 9,217,218 | 4.72 | % | ||
| Richard P. Graff | Votes For: | 177,921,032 | 91.15 | % | |
| Votes Withheld: | 17,278,916 | 8.85 | % | ||
| Anna Kolonchina | Votes For: | 191,326,180 | 98.02 | % | |
| Votes Withheld: | 3,873,768 | 1.98 | % | ||
| Alan P. Krusi | Votes For: | 177,497,490 | 90.93 | % | |
| Votes Withheld: | 17,702,458 | 9.07 | % | ||
Further details on the above matters are set forth in the Corporation’s meeting materials, including the Corporation’s Management Information Circular dated April 22, 2016, which are accessible under the Corporation’s issuer profile on SEDAR at www.sedar.com. The Corporation has also filed a report of voting results on all resolutions voted on at the Meeting on SEDAR at www.sedar.com .
About Alacer Gold
Alacer is a leading intermediate gold mining company, with an 80% interest in the world-class Çöpler Gold Mine in Turkey operated by Anagold Madencilik Sanayi ve Ticaret A.S. (“Anagold”) and the remaining 20% owned by Lidya Madencilik Sanayi ve Ticaret A.S. (“Lidya Mining”). The Company’s primary focus is to leverage its cornerstone Çöpler Mine and strong balance sheet to maximize portfolio value, maximize free cash flow, minimize project risk and, therefore, create maximum value for shareholders.
Alacer is actively pursuing initiatives to enhance value beyond the current mine plan:
- Çöpler Oxide Production Optimization – expansion of the existing heap leach pad to 58 million tonnes continues to advance. All required land use permits for the heap leach pad phase 4 expansion have been received. The Company continues to evaluate opportunities to optimize and extend oxide production beyond the current reserves, including a new heap leach pad site to the west of the Çöpler Mine.
- Çöpler Sulfide Project – the Sulfide Project will deliver long-term growth with robust financial returns and adds over 20 years of production at Çöpler. The Sulfide Project will bring Çöpler’s remaining life-of-mine gold production to 4 million ounces 1 at All-in Sustaining Costs 2 averaging $645 per ounce. The Environmental Impact Assessment and all required land use permits for construction have been approved.
- The Company continues to pursue opportunities to further expand its current operating base and to become a sustainable multi-mine producer with a focus on Turkey. The systematic and focused exploration efforts in the Çöpler District as well as in other regions of Turkey are progressing. Yakuplu Southeast, Yakuplu East, Yakuplu North and Bayramdere are the main focus in the Çöpler District, which are shallow, oxide targets with favorable metallurgy and have the potential for rapid development. In the region, evaluation work is advancing and an update on the Dursunbey Project in western Turkey will be provided in Q3 2016.
Alacer is a Canadian company incorporated in the Yukon Territory with its primary listing on the Toronto Stock Exchange. The Company also has a secondary listing on the Australian Securities Exchange where CDIs trade.
1 Alacer has an 80% controlling interest of the Çöpler Gold Mine
2 All-in Sustaining Costs is a non-IFRS financial performance measure with no standardized definition under IFRS. For further information and a detailed reconciliation, please see the “Non-IFRS Measures” section of the MD&A for the three months ended March 31, 2016.
For further information on Alacer Gold Corp., please contact: Lisa Maestas – Director, Investor Relations at +1-303-292-1299
