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; revenue and cash flow estimates, 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. Overview
3
• Historic production from underground gold mines in
Timmins and Kirkland Lake (~108 M Oz.)
• Five mines with greater than 5 million ounces
production, Young-Davidson is likely to be the sixth
• Cornerstone asset
• Low cost producer and strong production
growth profile
• Long mine life: Opportunity to expand as
reserves increase
• Located in a stable jurisdiction, close to
major centres
• First gold pour on April 30th, 2012
• Commercial production declared
September 1st, 2012
• Underground production commenced
October 2012
0
5
10
15
20
Hollinger
Dome
McIntyre
KerrAddison
Lakeshore
Young-Davidson
WrightHargreaves
Pamour
TeckHughes
Macassa
Aunor
HoylePond
Hallnor
Sylvanite
Preston
UpperCanada
Paymaster
Coniarium
Ounces(Millions)
Historic Production of U/G Mines of Timmins &
Kirkland Lake(1)
Historical Production YD P&P YD M&I YD Inferred
(1) Refer to endnote #1.
4. Aerial View Looking East
4
Tailings Impoundment Area
Mine Site
Town of Matachewan
5. Rich Tradition – Mine History
• Site of two former producers
• 20+ years in operation
• +1,200 tpd average production rate
• Early pioneers of bulk mining
• +1 million tonne stopes underground
• Mined ~9 million tonnes and produced 970,000
ounces
• Average realized grade of 3.37 g/tonne
5
Period Mine Tonnes Grade (g/t) Produced (Oz)
1934 to 1957 YD 5,653,000 3.21 585,000
1934 to 1954 MCM 3,205,000 3.66 378,000
1981 to 1982 MCM 96,400 2.36 7,300
Total 8,954,400 3.37 970,300
Young-Davidson Mine (YD)
Matachewan Consolidated Mine (MCM)
6. Safe Mines – Safe People
• Reduced Lost Time Injury (LTI)
• 2012 LTI frequency rate: 0.12
• Achieved key milestone in LTI frequency rate
performance last year
• +2 million man hours with no LTI
• Ongoing technical safety education programs
are offered
• +1,500 hours of safety and emergency
response training completed in 2012
Fostering a Safety Culture Where Zero Injuries Are Possible
6
7. Responsible Mining
Partnerships with Local Communities
• Recognize the importance of supporting and
collaborating with communities
• Committed to fostering positive relationships
with all stakeholders
• Regular communication and meetings with
members of local community, town hall,
and First Nations groups
• Continue to provide support for local community
initiatives
• Hire and train locally
• 96% of mine workforce hired from local
region in 2012
• Purchase from local suppliers
• 47% of mine spending on local suppliers
in 2012
7
8. YD Historic
Mine Workings
Open Pit
Ramp Portal
10350L
NG Shaft MCM Shaft
9890L
9590L
9400L
9200L
8900L
MCM Historic
Mine Workings
Underground Mine Plan
8
Mining Methods
• Transverse long hole stoping
• For wider zones (12-40m)
• 30m sub levels
• Highly productive (wide zones)
• Longitudinal retreat
• For areas < 12m widths
• Pastefill
• Mining recovery ~ 92%
• Dilution ~10%
9. Open Pit Overview
9
• 315m wide x 800m long and 140m deep
• Production: 2.25 years
• Low grade stockpile for ~2 years
• 7.5Mt of ore at 1.36 g/t Au
• Mill Feed 4.2Mt @1.78 g/t
• Low grade stockpile 3.3Mt @0.82 g/t
• Strip Ratio 2.5:1
• 8m benches
• Cat 777 Trucks
• 992 Loaders
0
10,000
20,000
30,000
40,000
50,000
January February March April May
2013
Open Pit Tonnes per Day
Target Actual
10. Open Pit Ore Stockpiles
10
As of April 30, 2013 Tonnes g/t
Low Grade Stockpile 1,823,000 0.83
High Grade Stockpile 93,000 1.54
11. Underground Mining Rates
11
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
January February March April May
2013
Target Actual
Underground Mining Rates Tonnes per Day
• Underground production commenced in October 2012
• Tonnes per day averaged 1,800tpd in May (target of 2,000tpd by end of 2013)
• Currently mining in the Upper Boundary Zone (“UBZ”)
• Average 30,000 to 40,000 tonne stopes in UBZ
• Overall average ore thickness (current reserves) is 20 metres
• Amenable to bulk mining methodologies
12. Process Plant Performance YTD
12
Crusher
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
January February March April May
2013
Tonnes Processed (TPD)
Target Actual
70
75
80
85
90
95
100
January February March April May
2013
Plant Utilization (%)
Target Actual
13. 2013 Production & Development
Q2 Stopes
Q2 Stopes
Q3 Stopes
13
Q4 Stopes
14. Northgate Production Shaft Work
Soledad Property – Kern County, California
• RB 3rd leg 610m
14
• RB 1st leg completed 440m
• Ground support completed
• Reaming of 2nd leg completed
LEGEND
Raise Bore Leg #1
Raise Bore Leg #2
Raise Bore Leg #3
15. 15
9590 Level Ore Rockbreaker Completed
9590 Level Waste Rockbreaker Completed
2nd Leg of Shaft Reaming Completed
9500 Level Conveyor
9530 Level Crusher Room
Mid-shaft Loading Pocket Commissioning
Young-Davidson Production Shaft
Northgate Mid-shaft Loading Pocket Milestones:
• Commissioning the mid-shaft crushing and hoisting
system during Q3
• Key catalyst for further increases in U/G production
• Completed raise boring of the second leg of production
shaft mid-April
• Vertical access to 1.8M ounces, or 8 years of
production
• Vertical depth of ~900m
• Loading pocket and crusher installation ongoing Crusher room construction
ore pass throat
16. Northgate Shaft Reaming 2nd Leg
Soledad Property – Kern County, California
16
• 4m thick rock pillar in place
• Pillar will be blasted by shaft crew during bolting cycle
• Raise boring of 2nd leg completed
• Shaft crews currently in bolting phase of 2nd leg
• 5m thick concrete plug in place just above 9500 L
9590 L
9500 L
9440 L
11 Level
Shaft Collar
• 1st Leg ground support completed
17. Crusher Station 9530 L
Soledad Property – Kern County, California
17
Crusher room excavation
completed
Pit trench excavation completed
18. Conveyor Level 9500 L
Soledad Property – Kern County, California
18
Conveyor drift excavation completed
Ore pass raise to crusher excavated
Loading pocket excavation completed
Shaft full
of muck
Concrete plug in
place
19. MCM Shaft Work
Soledad Property – Kern County, California
Legend
19
LEGEND
Raise Bore Leg #1
Raise Bore Leg #2
Raise Bore Leg #3
• Current location of shaft
bottom 9533 L
• Shaft sinking activities will
resume in September
• Continue hoisting waste
through MCM shaft
20. Continuing Operations Performance
20
Second Consecutive Quarter of Solid Results in Line with Guidance Levels
• Solid production growth quarter over quarter
• Cash costs in-line with target levels
• Mill and underground operations exceeding targeted levels
$0
$100
$200
$300
$400
$500
$600
$700
$800
2012 Q3 2012 Q4 2013 Q1
Total Cash Costs per Gold Ounce(2)(3)
0
5,000
10,000
15,000
20,000
25,000
30,000
2012 Q2 2012 Q3 2012 Q4 2013 Q1
Total Gold Ounces Produced(6)
(2) Refer to endnote #2. (6) Refer to endnote #6.
(3) Refer to endnote #3.
21. Young-Davidson Life of Mine
21
Significant Mine Life: Opportunity for Expansion as Reserves Increase
Life of Mine profile depicts Proven & Probable Reserves only
22. Young-Davidson Milestone Dates
22
2nd leg of shaft reaming completed Q2 - 2013
Shaft Waste handling / rock breaker / loading pocket
commissioned
Q3 - 2013
Shaft Ore handling system / crusher commissioned Q3 - 2013
Paste fill plant operation Q4 - 2013
Paste Fill Plant
• $45M - $50M capex in 2013
• Offsets requirement for additional
tailings capacity
• Commissioning anticipated for Q4 2013
23. 2013 Operational Estimates(4)
23(2) Refer to endnote #2. (4) Refer to endnote #4. (7) Refer to endnote #7.
(3) Refer to endnote #3. (6) Refer to endnote #6.
Young-Davidson 2013 Operational Estimates (March 25, 2013)
Gold Production (ounces)(6) 120,000-140,000
Cash Costs per Ounce(2)(3) $575-$675
Total All-in Sustaining Costs per Ounce(2)(7) $1,250-$1,350
Capital Investment Program (US$000’s)
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 $135,000-$150,000
Depletion and Amortization (US$ per ounce) $300-$310
Exploration (US$000’s) Up to $3,500
24. Endnotes
1. Data source: Ministry of Northern Development and Mines accessible at www.mndm.gov.on.ca.
2. Cash Costs per Gold Ounce, All-In Cash Costs Per Gold Ounce, and Adjusted Net Earnings are Non-GAAP measures that do not have any standardized
meaning prescribed by International Financial Reporting Standards (“IFRS” or “GAAP”), and that should not be considered in isolation from or as a substitute for
performance measures prepared in accordance with GAAP. See the Non-GAAP Measures section on page 30 of the Management's Discussion and Analysis for
the year ended December 31, 2012 available on the Company website at www.auricogold.com.
3. 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. Gold ounces
include ounces sold at the El Chanate mine and ounces produced at the Young-Davidson mine. Prior to commissioning the underground mine at Young-
Davidson, cash costs are calculated on ounces produced from the open pit only. All underground costs are capitalized, and any revenue related to underground
ounces sold is credited against capital expenditures.
4. 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.
5. Reserves and resources for Young-Davidson and El Chanate mines, Kemess Underground Project, and Orion represent gold 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.
6. Production figures include gold ounces only. Production at the Young-Davidson mine includes pre-production ounces, which include ounces produced prior to the
declaration of commercial production on September 1, 2012, as well as all ounces produced from the underground mine.
7. All-in costs are defined as cash costs, sustaining capital, corporate general and administrative expense, reclamation, care and maintenance expense, and
exploration expenditures. Prior to commissioning the underground mine at Young-Davidson, all-in cash costs are calculated on ounces produced from the open
pit only. All underground costs are capitalized, and any revenue related to underground ounces sold is credited against capital expenditures.
24
27. Reserves and Resources(5)
27
Total Proven and Probable Reserves
Tonnes
(000's)
Gold
(g/t)
Gold Oz.
(000's)
Young-Davidson - Surface 6,425 1.31 271
Young-Davidson - Underground 39,037 2.82 3,534
Total Young-Davidson 45,462 2.60 3,804
Total Measured and Indicated Resources
Tonnes
(000's)
Gold
(g/t)
Gold Oz.
(000's)
Young-Davidson - Surface 291 1.70 16
Young-Davidson - Underground 9,531 2.74 839
Total Young-Davidson 9,821 2.71 855
Inferred Resources
Tonnes
(000's)
Gold
(g/t)
Gold Oz.
(000's)
Young-Davidson - Surface 31 0.99 1
Young-Davidson - Underground 13,983 2.80 1,259
Total Young-Davidson 14,014 2.80 1,260
(5) Refer to endnote 5.
28. 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.
28
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
El Chanate
Jeffrey Volk, CPG, FAusIMM, Director Reserves
and Resources, AuRico Gold Inc.
Chris Sharpe, P.Eng, Manager Mining, AuRico Gold Inc.
Young-Davidson - Open Pit
Jeffrey Volk, CPG, FAusIMM, Director Reserves
and Resources, AuRico Gold Inc.
Chris Sharpe, P.Eng, Manager Mining, AuRico Gold Inc.
Young-Davidson - Underground
Jeffrey Volk, CPG, FAusIMM, Director Reserves
and Resources, AuRico Gold Inc.
Chris Bostwick, FAusIMM, SVP Technical Services,
AuRico Gold Inc.
Kemess Underground
Jeffrey Volk, CPG, FAusIMM, Director Reserves
and Resources, AuRico Gold Inc.
Chris Bostwick, FAusIMM, SVP Technical Services,
AuRico Gold Inc.
Orion
Jeffrey Volk, CPG, FAusIMM, Director Reserves
and Resources, AuRico Gold Inc.
29. All-in Sustaining Cost Allocation
Cash Costs
Sustaining
Exploration
Corporate
G&A
2013 All-in Sustaining Costs
$1,100-$1,200 per ounce
Labour
57%
Power
6%
Diesel
9%
Consumables
19%
Materials/Mtc
9%
Cost Allocation
(Includes contract
labour)
All-in Sustaining Costs
• Provides increased transparency
• More representative of actual cost of production
• Removes influence of accounting treatments
• Can be reconciled to OCF
29
