2. FORWARD LOOKING STATEMENTS
This presentation 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. Such factors include: 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 the Young-Davidson and El Chanate mine may not perform as planned; changes
in laws or regulations in Canada, Mexico and other jurisdictions in which the Company may carry on business; risks of obtaining necessary licenses, permits,
authorizations or approvals for operations or projects such as Kemess; contests 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; any decision to declare dividends; 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 holding derivative
instruments; risks arising from the absence of hedging; adequacy of internal control over financial reporting; changes in our 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; production levels, development rates and the costs for each; our ability to procure equipment and supplies in sufficient quantities and on a timely
basis; the timing of the receipt of permits and other approvals for our projects and operations; our ability to attract and retain skilled employees and contractors
for our operations; the accuracy of our reserve and resource estimates; the impact of changes in currency exchange rates on our costs and results; interest
rates; taxation; and our ongoing relations with our 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 presentation 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. 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.
2
3. Capital Markets Profile
Capital Structure Analyst Coverage
1. BMO Nesbitt Burns
Cash on hand(1) ~US$300M 2. Canaccord Genuity
3. CIBC
4. Credit Suisse
5. Cowen Securities
Available Credit Facility(1) US$150M
6. Desjardins Securities
7. Dundee Securities
8. GMP Securities
Fully diluted shares
257.3M 9. Mackie Research
outstanding(1)
10. Macquarie Securities
11. Merrill Lynch
12. National Bank
Market Capitalization $1.6B
13. Raymond James
14. RBC Capital Markets
15. Scotia Capital
NYSE & TSX 3-month avg.
4.4M 16. TD Securities
daily trading volume
17. UBS
(1) Refer to endnote #1. 3
4. A High Quality, Low Cost Asset Base
Streamlined Asset Base on the Lower End of the 2011 Industry Cost Curve
$1895
2011 gold price
range
$1319
Cash cost curve (US$/oz)
Fosterville El Cubo
Young-Davidson Ocampo Stawell
El Chanate
Percentile of total paid gold Current asset
Divested asset
Source: 2011 Data
“We have significantly traded up on the overall quality of the asset base which positions
AuRico well for reliable, consistent, and sustainable performance.”
4
5. The Transformed AuRico
Delivering Reliable, Consistent, Sustainable Performance
• High quality operations located in North America
• Divested Non-Core Assets ($1.0B+)
Quality Assets
• Cash costs at lower end of industry cost curve
• Long mine lives & growing reserves per share
• Strong organic production growth profile
Organic Growth Profile • Focused on quality, low-cost ounces
• Growing production per share
• Cash balance of ~US$300M(1)
Peer-Leading Balance • Undrawn debt facility of US$150M(1)
Sheet
• Growing profitability and cash flow per share
• Completed US$300M substantial issuer bid
Shareholder Friendly • Launched peer-leading dividend policy
Initiatives • Growing dividend per share
• Insider buying
(1) Refer to endnote #1. 5
6. High Quality Asset Base
A Pure Gold Producer Focused on Quality Assets in North America
Young-Davidson, Canada 2012A 2013E(3)
Production Au oz.(5) 56,138 120-140k
Cash Costs per Au oz.(2) $708 $575-$675
All-in Cash Costs per Au oz.(8) - $1,250-$1,350
2012 Reserves and Resources (000’s oz. Au)
Proven and Probable Reserves 3,804 2.60 Au g/t(4)
Kemess
Measured and Indicated Resources 855 2.71 Au g/t(4)
Inferred Resources 1,260 2.80 Au g/t(4)
Young-Davidson
El Chanate, Mexico 2012A 2013E(3)
Production Au oz. 71,145 70-80k
Cash Costs per Au oz.(2) $434 $550-$600
All-in Cash Costs per Au oz.(8) - $900-$1,000
El Chanate
2012 Reserves and Resources (000’s oz. Au)
Orion
Proven and Probable Reserves 1,204 0.67 Au g/t(4)
Measured and Indicated Resources 41 0.37 Au g/t(4)
Operating Gold Mines
Inferred Resources 6 0.48 Au g/t(4)
Exploration & Development Projects
(2) Refer to endnote #2. (4) Refer to endnote #4. (8) Refer to endnote #8.
(3) Refer to endnote #3. (5) Refer to endnote #5. 6
7. Young-Davidson Mine
MCM Historic
Ramp Portal Mine Workings
2012A 2013E(3)
10350L
Open Pit
Production (gold ounces)(5) 56,138 120,000-140,000 YD Historic
Cash Costs (per gold ounce)(2) $708 $575-$675 Mine Workings
All-in Cash Costs (per gold ounce)(8) - $1,250-$1,350
P&P Reserves (oz.)(4) 3.8 million NG Shaft MCM Shaft
Resources (oz.)(4) 900,000
Mine Life (reserves only) 16 years
UBZ Zone
• Low cost producer & strong 9890L
production growth profile
• Long mine life: Opportunity for
expansion as reserves Mid-Shaft
Loading
increase 9590L
Pocket
• Underground production 9400L
commenced Oct./12
• Mill exceeding design capacity
9200L
• Hoisting ore targeted during
Q3 2013
• Exploration focus on YD West
Zone; orebody open at depth YD West 8900L
(2) Refer to endnote #2. (5) Refer to endnote #5. Zone
(3) Refer to endnote #3. (8) Refer to endnote #8. 7
(4) Refer to endnote #4.
8. Young-Davidson Life of Mine
Significant Mine Life: Opportunity for Expansion as Reserves Increase
Life of Mine profile depicts Proven & Probable Reserves only
8
9. El Chanate Mine
Delivering Consistent, Stable Results; Lowest Quartile Cash Costs
Open Pit Tonnes Per Day Annual Production
95,856 67,092 71,145
61,550
64,781 47,823
37,625
24,610
2009 2010 2011 2012 2009 2010 2011 2012
• Cash costs at lower end of industry cost 2012A 2013E(3)
curve Production (gold ounces) 71,145 70,000-80,000
Cash Costs (per gold ounce)(2) $434 $550-$600
• Target mining rates of ~100k tpd All-in Cash Costs (per gold ounce)(8) - $900-$1,000
P&P Reserves (oz.) 1.2 million
• Accelerated pre-development program
Mine Life (reserves only) 7 years
complete in mid-2013
• High exploration potential for expansion of
existing reserves (2) Refer to endnote #2. (8) Refer to endnote #8.
(3) Refer to endnote #3. 9
10. New Mineralization at El Chanate(4)
Loma Prieta
Hole ID From (m) To (m) Length (m) Au g/t
CHCI-705 46.5 54.0 7.5 0.92
CHCI-716 52.5 64.5 12.0 8.35 North West Zone
58.5 66.0 7.5 3.60 Hole ID From (m) To (m) Length (m) Au g/t
CHCI-717
88.5 93.0 4.5 6.52 183.0 192.0 9.0 0.31
CHCI-725 61.5 75.0 13.5 1.70 CHCI-731
210.0 217.5 7.5 0.26
CHCI-727 48.0 54.0 6.0 4.52 CHCI-732 55.5 82.5 27.0 0.45
CHCI-747 64.5 70.5 6.0 2.10 CHCI-733 24.0 34.5 10.5 0.91
CHCI-734 133.5 141.0 7.5 1.51
CHCI-735 97.5 103.5 6.0 2.07
CHCI-749 7.5 21.0 13.5 0.19
Rono
Hole ID From (m) To (m) Length (m) Au g/t
CHCI-740 76.5 135.0 58.5 0.27
CHCI-741 114.0 166.5 Hole 741
52.5 0.34
(view looking south)
El Chanate Mine (looking south) (4) Refer to endnote #4.
10
11. Kemess Underground
Kemess, Canada - Gold
• Copper/gold porphyry deposit
2012 Reserves and Resources (000’s oz Au) • Located in British Columbia, Canada
Proven and Probable Reserves 1,805 0.56 Au g/t(4)
Measured and Indicated Resources 854 0.41 Au g/t(4)
• Feasibility Study completed
Inferred Resources 125 0.39 Au g/t(4)
• Underground block cave operation
Kemess, Canada - Copper
• 105k oz Au and 44M lbs Cu annually
2012 Reserves and Resources (000’s lbs Cu)
Probable Reserves 619,151 0.28%(4) • Cash costs of $213 per gold ounce (net of
Indicated Resources 346,546 0.24%(4)
by-product credits)
Inferred Resources 46,101 0.21%(4)
• Approx. 12 year mine life
• Significant leverage to higher metal prices
• Existing infrastructure:
• Mill facilities, and previously
permitted tailings storage
• Value surfacing opportunity
(4) Refer to endnote #4. 11
12. Orion Joint Venture
• 50/50 Joint Venture partnership
Orion, Mexico - Gold
• AuRico and Minera Frisco 2012 Resources (000’s oz. Au)
• $2.0M (10,000m) combined Measured and Indicated Resources 65 3.36 Au g/t(4)
exploration program (2013)
Inferred Resources 10 3.33 Au g/t(4)
• 110,000 hectare land package (Nayarit
State, Mexico)
Orion, Mexico - Silver
• Historic mining district 2012 Resources (000’s oz. Ag)
• Low sulfidation, high-grade, epithermal Indicated Resources 5,503 309 Ag g/t(4)
vein system mapped over 12km
Inferred Resources 275 95 Ag g/t(4)
• Less than 3% of property has been drill
tested
• Minimal exploration near surface and
untested at depth
• Value surfacing opportunity
(4) Refer to endnote #4. 12
13. Free Cash Generating Capacity
Increasing production profile(7)
400 $700
Cash costs per ounce
300 $600
Ounces (000’s)
200 $500
100 $400
0 $300
2012A 2013E 2014E 2015E
Production Cash Costs
Robust cash flow profile driven by long life mines, production growth and decreasing capital expenditure profile(7)
$250
$150
US$ (000's)
$50
($50)
($150)
($250)
($350)
($450)
2012A 2013E 2014E 2015E
Consolidated Capex FCF 13
(7) Refer to endnote #7.
14. Dividend Policy
• 2013: Equivalent annual dividend of $0.16 per common share (payable quarterly)
• First quarterly dividend declared on March 25, 2013
• Board decision to use current strong cash position reflects confidence in growing cash flow stream
starting in 2014
• 2014: 20% payout ratio of operating cash flow (“OCF”) generated in the preceding quarter,
divided by outstanding common shares at time of approval
• Peer-leading yield with opportunity to increase
• Increased shareholder exposure through recent US$300M share buyback
Illustrative Yield per Street Consensus Operating Cash Flow per Share(6)
Payout ratio: 20% OCF
Initial dividend of
$0.16/per share 3.5%
3.0%
2.6% 2.4%
2013A 2014E 2015E 2016E
(6) Refer to endnote #6. 14
15. Accretive Growth Per Share
Operating Cash Flow per Share (US$)(7) Earnings per Share (US$)(7) Free Cash Flow per Share (US$)(7)
$0.57
$0.91 $0.92 $0.50
$0.36 $0.66
$0.64 $0.39
($1.31) ($0.12)
($0.34)
$0.05
2012A 2013E 2014E 2015E 2012A 2013E 2014E 2015E 2012A 2013E 2014E 2015E
Proven & Probable Reserves per 1,000
Gold Production per 1,000 Shares (oz.)(7) All-in Resources per 1,000 Shares (oz.)(4)
Shares (oz.)(4)
1.1 27.7
1.0 40.7
24.1 36.7 35.5
0.8
18.2
15.5
20.8
0.5
8.8
10.1
0.2
2011A 2012A 2013E 2014E 2015E Apr. 2011 Oct. 2011 YE 2011 YE 2012 Current Apr. 2011 Oct. 2011 YE 2011 YE 2012 Current
(Post CGC (Post NGX (Apr. 2013) (Post CGC (Post NGX (Apr. 2013)
Acquisition) Acquisition) Acquisition) Acquisition)
(4) Refer to endnote #4.
(7) Refer to endnote #7.
15
16. The Transformed AuRico
Delivering Reliable, Consistent, Sustainable Performance
• High quality operations located in North America
• Divested Non-Core Assets ($1.0B+)
Quality Assets
• Cash costs at lower end of industry cost curve
• Long mine lives & growing reserves per share
• Strong organic production growth profile
Organic Growth Profile • Focused on quality, low-cost ounces
• Growing production per share
• Cash balance of ~US$300M(1)
Peer-Leading Balance • Undrawn debt facility of US$150M(1)
Sheet
• Growing profitability and cash flow per share
• Completed US$300M substantial issuer bid
Shareholder Friendly • Launched peer-leading dividend policy
Initiatives • Growing dividend per share
• Insider buying
(1) Refer to endnote #1. 16
17. Endnotes
1. Company cash on hand as of December 31, 2012 and fully diluted shares (excluding convertible debentures) as of February 28, 2013, have been
adjusted for the completion of a US$300M Substantial Issuer Bid. For more information on the Substantial Issuer Bid, please refer to the press release
dated January 29, 2013, available on the Company website at www.auricogold.com. AuRico Gold established a $150M credit facility January 29, 2013.
2. Cash costs for the Young-Davidson and El Chanate mines are calculated on a per gold ounce basis, using by-product revenues as a cost credit. Cash
costs for the Young-Davidson mine are attributable to commercial production ounces only, all underground costs are capitalized, and any revenue related
to underground ounces sold is credited against capital. Cash cost per ounce is a non-GAAP performance measure management uses to better assess
the Company’s performance for the current period and its expected performance in the future. This non-GAAP measure does not have any standardized
meaning prescribed by GAAP, and should not be considered in isolation from or as a substitute for performance measures prepared in accordance with
GAAP. For more information regarding this measure, please refer to the press release dated March 25, 2013 titled AuRico Reports Fourth Quarter and
Annual Financial Results, under the heading “Non-GAAP Measures”, available on the Company website at www.auricogold.com.
3. For more information regarding AuRico Gold’s 2013 operational estimates, including production, costs, and capital investments, please refer to the press
release dated March 25, 2013 titled AuRico Reports Fourth Quarter and Annual Financial Results available on the Company website at
www.auricogold.com.
4. Reserves and resources for Young-Davidson and El Chanate mines, Kemess Underground Project, and Orion represent gold or gold equivalent grade as
per technical reports and Company disclosure. For more information regarding AuRico Gold’s Mineral Reserves and Resources as at December 31,
2012 and the Kemess Feasibility Study, please refer to the press release dated March 25, 2013 titled AuRico Reports 2012 Reserve & Resource Update
and Kemess Feasibility Study Results, available on the Company website at www.auricogold.com. Measured and indicated resources excludes inferred
resources.
5. Production figures include gold ounces only. 2012 production at the Young-Davidson mine includes pre-production ounces as well as ounces produced
subsequent to the declaration of commercial production on September 1, 2012.
6. The illustrative yield assumes the share price as of April 1, 2013. Figures for 2014-2016 are based on consensus data only and a US$1,600/oz gold
price. Consensus data is as of April 2, 2013. For more information regarding AuRico Gold’s dividend policy, please refer to the press release dated
February 21, 2013, available on the Company website at www.auricogold.com.
7. Figures include 2012 results for continuing operations only. Figures for 2013 include mid-point of 2013 operational estimates and consensus data.
Figures for 2014 and 2015 are based on consensus data only. Figures for 2013-2015 are based on a US$1,600/oz gold price assumption and shares
outstanding assumed to be constant at the January 31, 2013 level subsequent to the completion of a US$300M Substantial Issuer Bid. Consensus data
is as of April 2, 2013. AuRico Gold’s 2013 operational outlook is disclosed in the press release dated March 25, 2013 titled AuRico Reports Fourth
Quarter and Annual Financial Results, available on the Company website at www.auricogold.com.
8. The Company intends to provide all-in cash costs as a reported measure in 2013. All-in costs are defined as cash costs, sustaining capital, corporate
general and administrative expense and exploration expense. Cash costs for the Young-Davidson mine are attributable to commercial production ounces
only, all underground costs are capitalized, and any revenue related to underground ounces sold is credited against capital.
17
20. 2013 Operational Estimates (3)
2013 Operational Estimates (March 25, 2013)
Gold Production (ounces)
Young-Davidson 120,000-140,000
El Chanate 70,000-80,000
Total Production 190,000-220,000
Cash Costs per Ounce
Young-Davidson $575-$675
El Chanate $550-$600
Total Cash Costs per Ounce $565-$645
All-in Cash Costs
Young-Davidson $1,250-$1,350
El Chanate $900-$1,000
Total All-in Cash Costs per Ounce $1,100-$1,200
Capital Investment Program (US$000’s)
Young-Davidson
Non-recurring Growth Capital
Paste Backfill Plant $45,000-$50,000
Shaft and Mid-Shaft Loading and Crushing Facility $25,000-$30,000
Open Pit Mine Development $6,000-$8,000
Sustaining Capital $59,000-$62,000
Total Capital Investment – Young Davidson $135,000-$150,000
El Chanate
Non-recurring Growth Capital
Southeast Open Pit Expansion $20,000-$25,000
Heap Leach Expansion $2,000-$3,000
Sustaining Capital $8,000-$12,000
Total Capital Investment – El Chanate $30,000-$40,000
Total Capital Investment $165,000-$190,000
Depletion and Amortization (US$ per ounce)
Young-Davidson $300-$310
El Chanate $245-$255
Total Depletion and Amortization $280-$290
Exploration (US$000’s)
Young-Davidson Up to $3,500
El Chanate Up to $3,500
Other Properties Up to $8,000
Total Exploration Up to $15,000
General and Administrative (US$000’s)
Corporate G&A $25,000
(3) Refer to endnote #3. 20
21. All-in Costs & Cost Allocation
All-in Costs
2013 All-in Consolidated Costs • Provides increased transparency
$1,100-$1,200 per ounce
• More representative of actual cost of production
Corporate
G&A • Removes influence of accounting treatments
Exploration
• Can be reconciled to OCF
Sustaining
Cash Cost Allocation
Materials/Mtc
9%
Consumables
19% Labour
Cash Costs 57%
(Includes contract
Diesel labour)
9%
Power
6%
21
25. Notes to Reserves and Resources
Notes:
• Mineral Reserves and Resources have been stated as at December 31, 2012.
• Mineral Resources are in addition to Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability when calculated using Mineral
Reserve assumptions. Reserves have been reported in accordance with NI 43-101, as 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.
• Following the completion of a joint venture agreement, Minera Frisco has a 50% interest in the Orion Project.
• Mineral resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding.
The following metal prices were used for the calculation of Reserves and Resources:
Reserves Resources
USD Au $/oz Ag $/oz Cu $/lb Au $/oz Ag $/oz Cu $/lb
El Chanate $1,400 - - $1,600 - -
Young-Davidson $1,400 - - $1,600 - -
Kemess Underground $1,300 $23.00 $3.00 $13.00 NSR
Orion - - - $850 $13.00 -
Reserves and Resources were prepared under the supervision of the following Qualified Persons:
Resources Reserves
Jeffrey Volk, CPG, FAusIMM, Director Reserves
El Chanate Chris Sharpe, P.Eng, Manager Mining, AuRico Gold Inc.
and Resources, AuRico Gold Inc.
Jeffrey Volk, CPG, FAusIMM, Director Reserves
Young-Davidson - Open Pit Chris Sharpe, P.Eng, Manager Mining, AuRico Gold Inc.
and Resources, AuRico Gold Inc.
Jeffrey Volk, CPG, FAusIMM, Director Reserves Chris Bostwick, FAusIMM, SVP Technical Services,
Young-Davidson - Underground
and Resources, AuRico Gold Inc. AuRico Gold Inc.
Jeffrey Volk, CPG, FAusIMM, Director Reserves Chris Bostwick, FAusIMM, SVP Technical Services,
Kemess Underground
and Resources, AuRico Gold Inc. AuRico Gold Inc.
Jeffrey Volk, CPG, FAusIMM, Director Reserves
Orion
and Resources, AuRico Gold Inc.
25