AuRico Metals Announces Private Placement with Alamos Gold

Toronto (ots/PRNewswire) - AuRico Metals Inc. , ("AuRico" or the
"Company") is announcing a private placement with Alamos Gold
("Alamos") whereby Alamos will purchase 8,000,000 AuRico Metals
shares at a per share price of C$0.70 for total proceeds of
C$5,600,000. Together with the 5,767,855 shares Alamos already owns
in AuRico Metals, Alamos now controls 10.9% of the issued and
outstanding shares of the company.

"We are pleased to announce this private placement with Alamos, a
top-tier global gold producer," commented Chris Richter, President
and CEO of AuRico Metals. "Alamos' investment is a further
endorsement of our valuable portfolio of high quality assets - assets
which Alamos knows very well. The additional liquidity also
strengthens our ability to pursue accretive growth opportunities."

The private placement is subject to the approval of the Toronto Stock
Exchange.

About AuRico Metals 

AuRico Metals is a mining royalty and development company whose
cornerstone assets include a 1.5% NSR on the Young-Davidson Gold
Mine, located in Ontario, Canada, a 2% NSR on the Fosterville Mine,
located in Victoria, Australia, and 100% ownership of the advanced
Kemess Project in British Columbia, Canada. AuRico Metals' goal is to
deliver sustained value creation for the company's many stakeholders.
AuRico Metals' head office is located in Toronto, Ontario, Canada.

Cautionary Statement 

This press release 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, including: uncertainty of production and cost estimates;
fluctuations in the price of gold and foreign exchange rates; the
uncertainty of replacing depleted reserves and the possible
recalculation or reduction of reserves and resources; the risk that
the Young-Davidson shaft will not perform as planned; the risk that
mining operations do not meet expectations; the risk that projects
will not be developed according to budgets or timelines, changes in
laws in Canada, Australia and other jurisdictions in which the
Company may carry on business; risks of obtaining necessary licenses,
permits or approvals for operations or projects such as Kemess;
disputes over title to properties; the speculative nature of mineral
exploration and development; 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; 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 derivative instruments or the
absence of hedging; adequacy of internal control over financial
reporting; changes in 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
schedules and the associated costs; ability to procure equipment and
supplies and ability to do so on a timely basis; the timing of the
receipt of permits and other approvals for projects and operations;
the ability to attract and retain skilled employees and contractors
for the operations; the accuracy of reserve and resource estimates;
the impact of changes in currency exchange rates on costs and
results; interest rates; taxation; and ongoing relations with
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.

Chris Richter, President and Chief Executive Officer, AuRico Metals
Inc., +1-416-216-2780, chris.richter@auricometals.ca; Rob Chausse,
Chief Financial Officer, AuRico Metals Inc., 416-216-2780,
robert.chausse@auricometals.ca

ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER | PRN

print