Ms. Lisa Maestas reports

ALACER GOLD ANNOUNCES $250M CREDIT FACILITY, UPDATED 2015 GUIDANCE, AND 2015 FIRST QUARTER OPERATING AND FINANCIAL RESULTS

Alacer Gold Corp. has filed its first quarter 2015 operating and financial results and related management's discussion and analysis. The corresponding financial statements and MD&A are available on Alacer Gold's website and on SEDAR. (All currencies referenced herein are denominated in U.S. dollars unless otherwise stated.)

Rod Antal, Alacer's president and chief executive officer, stated: "It has been a productive quarter for Alacer as we again delivered strong results from Copler and received board approval to advance the sulphide project. Importantly, we reported an increase in Copler's life-of-mine production by over 800,000 ounces, which provides near-term tangible value and continues to derisk the sulphide project through an improved gold production profile. I am also pleased that we have a commitment in place from a syndicate of lenders for a $250-million credit facility for the sulphide project that further demonstrates the robustness of the project and provides us the flexibility to pursue our growth strategy. As a positive result from the recent update to the mineral resources and mineral reserves and updated gold recovery model, we have increased 2015 production guidance and lowered cost metrics. Alacer will continue to focus on delivering opportunities to optimize Copler, derisk the sulphide project and deliver value for our shareholders."

Highlights

Strategic:

• On April 27, the corporation signed a commitment letter with a syndicate of lenders for a $250-million senior secured credit facility with no mandatory hedging, a seven-year term and interest rates of London interbank offered rate plus 2.5 per cent to 2.95 per cent.
• On April 24, the third incentive certificate was approved and will generate material cash tax credits from eligible expenditures on the sulphide project and heap-leach pad expansion.
• On April 9, the corporation announced the board of directors approved advancement of the Copler sulphide project into detailed engineering and procurement of long-lead-time items.
• On March 30, an updated NI 43-101 technical report was issued, increasing Copler's reserves and increasing life-of-mine gold production by over 800,000 ounces.
• On Feb. 11, the corporation announced the suspension of its dividend policy due to capital expenditure commitments, including the sulphide project.
• On Jan. 12, the corporation announced the project development team leading the Copler sulphide project in Turkey.

Operational:

• At March 31, the Copler gold mine reached 5.7 million hours worked and 766 days without a lost-time injury.
• Gold production was 50,949 ounces, and attributable gold production was 40,759 ounces.
• Total cash costs per ounce were $443, and all-in sustaining costs per ounce were $690.
• Construction of the heap-leach-pad phase 4 expansion continued to advance on schedule.
• An additional 500,000 tonnes of sulphide ore was stockpiled, bringing total sulphide stockpiles at quarter-end to 3.7 million tonnes at an average grade of 4.01 grams per tonne.

Financial:

• Cash and cash equivalents were $349.9-million, and the company had no external debt at the end of first quarter.
• Working capital increased $15.2-million to $394.6-million.
• Cash flow from operating activities totalled $23.5-million.
• Attributable net profit was $15.2-million, or five cents per share.

Guidance update for 2015

As a result of the updated mineral resources and mineral reserves statement, ensuing mine plan optimizations, and updated gold recovery model, the corporation has revised its 2015 production, cost metrics and capital guidance for the sulphide project.

• Copler gold production (100 per cent) of 190,000 to 210,000 ounces;
• Total cash costs of $450 to $500;
• All-in sustaining costs of $700 to $750;
• Copler sustaining capital expenditures of $35-million;
• Copler sulphide capital expenditure of $85-million;
• Exploration expenditure of $22-million.

                                             GUIDANCE FOR 2015

Copler mine                                                 Revised 2015 guidance  Previous 2015 guidance

Heap-leach gold ounces produced (100%)             (000s)              190 to 210              180 to 200
Waste tonnes mined (100%)                      (millions)                    25.7                    23.7
Sulphide tonnes mined (100%)                   (millions)                     0.7                     2.2
Oxide ore tonnes treated (100%)                (millions)                     6.0                     6.9
Oxide ore grade                                (g/t gold)                     1.5                     1.3
Total cash costs (C2)                              ($/oz)            $450 to $500            $525 to $575
All-in sustaining costs                            ($/oz)              700 to 750              775 to 825
All-in costs excluding sulphide growth             ($/oz)              775 to 825              850 to 900
All-in costs including sulphide growth             ($/oz)          1,175 to 1,225          1,350 to 1,400
Copler sustaining capital expenditure (100%)  ($millions)                     $35                     $35
Copler sulphide capital expenditure (100%)    ($millions)                     $85                    $100
Exploration expenditure (100%)                ($millions)                     $22                     $22

Assumptions underlying the revised 2015 guidance include the mineral reserves mine schedule as set out in the updated technical report and a gold price of $1,200 per ounce.

Conference call/webcast details

Alacer will host a conference call on April 28 at 6 p.m. (North America Eastern Daylight Time) and April 29 at 8 a.m. (Australian Eastern Standard Time).

You may listen to the call by webcast. The conference call presentation will also be available prior to the call commencing.

You may participate in the conference call by dialling:

For United States and Canada:  1-800-319-4610

For Australia:  1-800-423-528

For Hong Kong:  1-800-930-470

For Singapore:  1-800-101-2425

For United Kingdom:  1-800-017-8660

For international:  1-604-638-5340

Conference ID:  Alacer Gold call

If you are unable to participate in the call, a webcast will be archived until July 28, 2015, and a recording of the call will be available on Alacer's website or through a replay until May 28, 2015, by using passcode 8901 followed by the number sign and calling:

For U.S. and Canada:  1-800-319-6413

For Australia:  1-800-638-9854

The corresponding financial statements and management's discussion and analysis will be posted on Alacer's website and on SEDAR.

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