Alacer Gold Strengthens Strategic Relationship in Turkey

Alacer Gold (ASR.TSX) announced the closing of the sale of an additional 15% of
the issued and outstanding shares of Anagold Madencilik Sanayi ve Ticaret A.Ş.
(Anagold) pursuant to the exercise by Lidya Madencilik San. ve Tic. A.Ş. (Lidya
Mining) of a call right for US$37.8 million. Highlights: * Anagold, a subsidiary
of Alacer, conducts the Companys primary development and extraction activities
for the Çöpler gold operations in Turkey. * The purchase of the 15% of the
issued and outstanding shares of Anagold has increased Lidya Minings holdings in
Anagold to 20% * Lidya Mining was granted the call right pursuant to a
shareholders agreement among the Company, Kurudere Madencilik A.Ş., Anagold,
Lidya Mining and Çalık Holding A.Ş. – dated August 12, 2009 that can be
found on SEDAR at www.sedar.com. Edward Dowling, President and CEO of Alacer
Gold : "The take up of the full 20% by Lidya Mining under the shareholders
agreement is not only a vote of confidence in the Çöpler project, but
strengthens our strategic relationship with one of the most respected
organizations in Turkey. This strategic relationship has and continues to help
strengthen the sustainability and the growth of the Companys mining interests in
Turkey." Paolo Lostritto, National Bank Financial: "We reiterate our
Outperform rating and C$14.00 price targetCatalysts to look for include: 1)
Çöpler resource update Q1 2012, 2) New Higginsville Reserve in Q1 2012, 3)
South Kalgoorlie underground resource update and feasibility study in Q2 2012,
4) SKO processing plant expansion decision in Q2 2012, and 5) Çöpler Sulphide
expansion full feasibility study, H2 2012."