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Q4 2012
Financial Results
Conference Call and Webcast
March 26, 2013
FORWARD LOOKING STATEMENTS

Cautionary Statement

Certain information included in this presentation constitutes forward-looking statements, including any information as to our projects, plans and future
financial and operating performance. All statements, other than statements of historical fact, are forward-looking statements. The words “expect”,
“believe”, “anticipate”, “will”, “intend”, “estimate”, “forecast”, “budget”, “schedule” and similar expressions identify forward-looking statements. Forward-
looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently
subject to significant business, economic and competitive 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, but are not limited to: changes to current estimates of mineral reserves and resources; fluctuations in the price of gold; changes in
foreign exchange rates (particularly the Canadian dollar, Mexican peso and U.S. dollar); the impact of inflation; changes in our credit rating; any decision
to declare a quarterly dividend; employee relations; litigation; disruptions affecting operations; availability of and increased costs associated with mining
inputs and labor; development delays at the Young-Davidson mine; operating or technical difficulties in connection with mining or development activities;
inherent risks associated with mining and mineral processing; the risk that the Young-Davidson and El Chanate mines may not perform as planned;
uncertainty with the Company’s ability to secure capital to execute its business plans; the speculative nature of mineral exploration and development,
including the risks of obtaining necessary licenses and permits; contests over title to properties; changes in national and local government legislation in
Canada, Mexico and other jurisdictions in which the Company does or may carry on business in the future; risk of loss due to sabotage and civil
disturbances; the impact of global liquidity and credit availability and the values of assets and liabilities based on projected future cash flows; risks
arising from holding derivative instruments; business opportunities that may be pursued by the Company. Many of these uncertainties and contingencies
can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made
by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking
statements made in this presentation are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual
Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying
forward-looking statements.

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
Scott Perry
President & CEO
Recent Key Highlights
Focused on Shareholder Value Creation

• Portfolio optimization completed

• Launched shareholder friendly initiatives

• Updated reserves and resources
      •   Focused on higher margin, profitable ounces

• Kemess feasibility study released

• Young-Davidson ramp-up on target
      •   Shaft system on track for Q3 commissioning
      •   Underground ramp-up on target

• El Chanate:
      •   Non-cash goodwill impairment charge
      •   IFRIC 20 – stripping cost allocation

                                                        4
Rob Chausse
Chief Financial Officer
Q4 Continuing Operations Performance(1)

                                                                                                                 Quarter Ended                          Quarter Ended
 (in thousands, except ounces, per share amounts, average realized prices
 and total cash costs)
                                                                                                                  Dec. 31, 2012                           Dec. 31, 2011

 Gold ounces produced(2)                                                                                                             41,145                                18,080

 Total cash costs per gold ounce                                                                                                       $628                                    $401

 Revenue from mining operations                                                                                                   $63,119                                 $29,696

 Average realized gold price per ounce                                                                                               $1,720                                 $1,661

 Adjusted net earnings / (loss)(3)                                                                                                $13,681                                ($7,410)

 Adjusted net earnings / (loss) per share, basic(3)                                                                                    $0.05                               ($0.03)

 Non-cash goodwill impairment charge(4)                                                                                        $127,000                                                -

 Net (loss) / earnings                                                                                                       ($134,420)                                  $23,027

 Net (loss) / earnings per share, basic                                                                                            ($0.48)                                   $0.09

 Operating cash flow (before changes in working capital)(5)                                                                       $31,148                                  $3,069

 Net free cash flow                                                                                                             ($66,340)                            ($105,891)
 1.   Continuing operations include the Young-Davidson and El Chanate mine operations.
 2.   Quarter ended December 31, 2012 includes pre-production ounces from the Young-Davidson mine.
 3.   See the table on slide 10 for a reconciliation of adjusted net earnings and refer to the discussion of Non-GAAP measures in the Company’s Q4 2012 Financial Results Press Release.
 4.   Non-cash goodwill impairment charge related to the El Chanate mine.
 5.   See the table at the end of this presentation for a reconciliation of operating cash flow (before changes in working capital).
                                                                                                                                                                                           6
2012 Continuing Operations Performance(1)

                                                                                                                     Year Ended                             Year Ended
 (in thousands, except ounces, per share amounts, average realized prices and
 total cash costs)
                                                                                                                   Dec. 31, 2012                          Dec. 31, 2011

 Gold ounces produced(2)                                                                                                           127,283                                  49,395

 Total cash costs per gold ounce                                                                                                         $516                                  $449

 Revenue from mining operations                                                                                                  $163,622                                $83,932

 Average realized gold price per ounce                                                                                                $1,690                                $1,631

 Adjusted net earnings / (loss)(3)                                                                                                  $34,729                              ($7,511)

 Adjusted net earnings / (loss) per share, basic(3)                                                                                    $0.12                               ($0.04)

 Non-cash goodwill impairment charge(4)                                                                                           $127,000                                             -

 Net (loss) / earnings                                                                                                           ($97,821)                               $29,295

 Net (loss) / earnings per share, basic                                                                                              ($0.34)                                 $0.16

 Operating cash flow (before changes in working capital)(5)                                                                        $39,100                                  $4,861

 Net free cash flow                                                                                                            ($368,731)                             ($111,054)
 1.   Continuing operations include the Young-Davidson and El Chanate mine operations.
 2.   Year ended December 31, 2012 includes pre-production ounces from the Young-Davidson mine.
 3.   See the table on slide 11 for a reconciliation of adjusted net earnings and refer to the discussion of Non-GAAP measures in the Company’s Q4 2012 Financial Results Press Release.
 4.   Non-cash goodwill impairment charge related to the El Chanate mine.
 5.   See the table at the end of this presentation for a reconciliation of operating cash flow (before changes in working capital).
                                                                                                                                                                                           7
Q4 Continuing Operations Highlights(1)

                                                                                                    Young-
                                                                       El Chanate                                              Q4 2012                    Q4 2011
                                                                                                   Davidson

Gold ounces produced                                                       14,782                     19,236                     34,018                     18,080

Pre-production gold ounces produced                                             -                      7,127                      7,127                          -

Total gold ounces produced                                                 14,782                     26,363                     41,145                     18,080

Gold ounces sold                                                           13,967                     22,170                     36,137                     17,355

Pre-production gold ounces sold                                                 -                      3,595                      3,595                          -

Total gold ounces sold                                                     13,967                     25,765                     39,762                     17,355


Total cash costs per gold oz.(2),(3),(4)                                     $468                      $744                       $628                       $401
1.   Continuing operations include the Young-Davidson and El Chanate mine operations.
2.   Cash costs for the El Chanate mine and Young-Davidson mine are calculated on a per gold ounce basis, using by-product revenues as a cost credit.
3.   Gold ounces used to calculate cash costs include ounces sold at the El Chanate mine and ounces produced at the Young-Davidson mine.
4.   The Young-Davidson mine declared commercial production on September 1, 2012 however the Young-Davidson underground mine remains in the pre-production period. Pre-
     production ounces produced are excluded from the calculation of cash costs as they are credited against capitalized project costs.




                                                                                                                                                                          8
2012 Continuing Operations Highlights(1)

                                                                                                     Young-
                                                                        El Chanate                                                 2012                       2011
                                                                                                    Davidson

 Gold ounces produced                                                       71,145                     29,139                    100,284                     49,395

 Pre-production gold ounces produced                                             -                     26,999                     26,999                          -

 Total gold ounces produced                                                 71,145                     56,138                    127,283                     49,395

 Gold ounces sold                                                           68,253                     26,169                     94,422                     49,659

 Pre-production gold ounces sold                                                 -                     17,505                     17,505                          -

 Total gold ounces sold                                                     68,253                     43,674                    111,927                     49,659

 Total cash costs per gold oz.(2),(3),(4)                                     $434                      $708                       $516                       $449
 1.   Continuing operations include the Young-Davidson and El Chanate mine operations.
 2.   Cash costs for the El Chanate mine and Young-Davidson mine are calculated on a per gold ounce basis, using by-product revenues as a cost credit.
 3.   Gold ounces used to calculate cash costs include ounces sold at the El Chanate mine and ounces produced at the Young-Davidson mine.
 4.   The Young-Davidson mine declared commercial production on September 1, 2012 however the Young-Davidson underground mine remains in the pre-production period. Pre-
      production ounces produced are excluded from the calculation of cash costs as they are credited against capitalized project costs.




                                                                                                                                                                           9
Q4 Adj. Net Earnings Reconciliation
                               Young-                         Corporate &       Continuing                                  Discontinued
                                             El Chanate                                          Ocampo       El Cubo                          Consolidated
                              Davidson                           Other          Operations                                   Operations
Net (loss) / earnings            $13,369       ($110,183)        ($37,606)        ($134,420)      $111,254       ($2,277)       $108,977           ($25,443)

Adjustments:
 Unrealized foreign
                                         -                -        ($2,298)         ($2,298)         ($391)             -          ($391)           ($2,689)
 exchange (gain) / loss
 Fair value adjustment on
 option component of                     -                -         $6,186           $6,186               -             -                  -         $6,186
 convertible senior notes
 Unrealized loss on
                                         -                -        $17,778          $17,778               -             -                  -        $17,778
 investments
 Realized gain on
                                         -                -        ($1,832)         ($1,832)              -             -                  -        ($1,832)
 investments
 Unrealized loss on
                                         -                -         $3,569           $3,569               -             -                  -         $3,569
 contingent consideration
 Gain on disposition of 50%
                                         -                -        ($6,620)         ($6,620)              -             -                  -        ($6,620)
 interest in Orion
 Other unrealized losses
 and non-recurring                       -                -         $1,724           $1,724               -             -                  -         $1,724
 expenses
 El Chanate impairment
                                                $127,000                    -      $127,000               -             -                  -       $127,000
 charge
 Disposition-related costs               -                -                 -                -      $6,796              -         $6,796             $6,796
 NRV adjustment on
 Ocampo heap leach                       -                -                 -                -      $7,778              -         $7,778             $7,778
 inventory
 Gain on disposition of El
                                         -                -                 -                -            -       $2,277          $2,277             $2,277
 Cubo and GyC

 Gain on sale of Ocampo                  -                -                 -                -   ($150,793)             -      ($150,793)         ($150,793)

 Tax impact of adjustments               -                -         $2,594           $2,594        $40,933              -        $40,933            $43,527

Adjusted net earnings            $13,369         $16,817         ($16,505)          $13,681        $15,577              -        $15,577            $29,258

Earnings per share                                                                    $0.05                                        $0.05              $0.10
                                                                                                                                                               10
2012 Adj. Net Earnings Reconciliation
                                 Young-                        Corporate &     Continuing                                              Discontinued
                                              El Chanate                                       Ocampo        El Cubo       Australia                 Consolidated
                                Davidson                          Other        Operations                                               Operations
Net (loss) / earnings               $16,109      ($70,396)         ($43,534)       ($97,821)     $110,990       $18,871         $1,191      $131,052       $33,231
Adjustments:
  Unrealized foreign
                                          -                -        $10,663         $10,663        $ 3,907       $2,953         $ 2,220       $ 9,080      $19,743
  exchange loss
  Fair value adjustment on
  option component of                     -                -        ($4,046)        ($4,046)             -             -               -            -      ($4,046)
  convertible senior notes
  Unrealized loss on
                                          -                -           $146            $146              -             -               -            -         $146
  investments
  Realized gain on
                                                                    ($1,500)        ($1,500)             -             -               -            -      ($1,500)
  investments
  Unrealized gain on
                                          -                -        ($1,713)        ($1,713)             -             -               -            -      ($1,713)
  derivatives
  Unrealized gain on
                                          -                -        ($1,568)        ($1,568)             -             -               -            -      ($1,568)
  contingent consideration
  Loss on discontinuance of
                                          -                -          $1,882         $1,882              -             -               -            -       $1,882
  hedge accounting
  Loss on extinguishment of
                                          -                -          $3,945         $3,945              -             -               -            -       $3,945
  debt
  Provision for settlement of
                                          -                -          $2,362         $2,362              -             -               -            -       $2,362
  lawsuit
  Gain on disposition of 50%
                                          -                -        ($6,620)        ($6,620)             -             -               -            -      ($6,620)
  interest in Orion
  Disposition-related costs               -                -               -               -       $9,161        $1,928         $1,034       $12,123       $12,123
  El Chanate impairment
                                                  $127,000                 -       $127,000              -             -               -            -     $127,000
  charge
  NRV adjustment on
  Ocampo heap leach                       -                -               -               -      $16,070              -               -     $16,070       $16,070
  inventory
  Australia impairment
                                          -                -               -               -             -             -       $22,857       $22,857       $22,857
  charge
  Loss on disposition of
                                          -                -               -               -             -             -        $1,736        $1,736        $1,736
  Australia
  Gain on disposition of El
                                          -                -               -               -             -     ($21,785)               -    ($21,785)     ($21,785)
  Cubo and GyC
  Gain on sale of Ocampo                  -                -               -               -    ($150,793)             -               -   ($150,793)    ($150,793)
  Tax impact of adjustments               -                -          $1,999         $1,999       $79,725        $3,234            $ 46      $83,005       $85,004
Adjusted net earnings               $16,109        $56,604         ($37,984)        $34,729       $69,060        $5,201        $29,084      $103,345      $138,074
Earnings per share                                                                   $ 0.12                                                   $ 0.37        $ 0.49    11
El Chanate Guidance Revision

   Cash Cost Guidance Revision – IFRIC 20
  • Capitalization of fewer stripping costs at the El Chanate mine

        • Includes 2013 and 2012 operational stripping

  • Amended 2013 cash cost guidance

        • Increased cash costs guidance to $550 to $600 per gold ounce

        • All-in cash costs and cash flow streams not impacted

        • Decreases sustaining capital estimates to $8 to $12 million

                                                               2013 Operational Estimates – Revised(1)
                                            2013                                  Original                    New
                          Gold Production (ounces)                              70,000-80,000             70,000-80,000
                          Cash Costs (per gold ounce)                            $475-$525                 $550-$600
                          All-in Cash Costs (per gold ounce)                     $900-$1,000              $900-$1,000
                          Sustaining Capital (US$ millions)                    $12,000-$17,000           $8,000-$12,000
                          Capital Expenditures (US$ millions)                  $35,000-$45,000           $30,000-$40,000

(1) Refer to endnote #2
                                                                                                                           12
Scott Perry
President & CEO
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 $150M(1)
            Sheet
                              • Growing profitability and cash flow per share


                              •   Completed $300M substantial issuer bid
      Shareholder Friendly    •   Launched peer-leading dividend policy
           Initiatives        •   Growing dividend per share
                              •   Insider buying
 (1) Refer to endnote #1.                                                            14
Q&A
Endnotes

1. Company cash on hand and fully diluted shares (excluding convertible debentures) as of December 31, 2012, 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. For more information regarding AuRico Gold’s 2013 operational estimates, including production, costs, and capital investments,
   please refer to the press release dated January 18, 2013, available on the Company website at www.auricogold.com.




                                                                                                                                       16
Appendix
Q4 Consolidated Performance

                                                                                                                  Quarter Ended                          Quarter Ended
(in thousands, except ounces, per share amounts, average realized prices, and
total cash costs)
                                                                                                                   Dec. 31, 2012                          Dec. 31, 2011

Gold ounces produced(1)                                                                                                             50,730                                 72,141

Total cash costs per gold ounce                                                                                                        $736                                   $375

Revenue from mining operations                                                                                                     $89,316                              $154,811

Average realized gold price per ounce                                                                                                $1,721                                 $1,672

Adjusted net earnings(2)                                                                                                           $29,258                                  $2,876

Adjusted net earnings per share, basic(2)                                                                                              $0.10                                  $0.01

Non-cash goodwill impairment charge(3)                                                                                          $127,000                                                  -

Net (loss) / earnings                                                                                                           ($25,443)                                $77,936

Net (loss) / earnings per share, basic                                                                                              ($0.09)                                  $0.31

Operating cash flow (before changes in working capital)(5)                                                                        $34,106                                $76,115

Net free cash flow                                                                                                              ($90,124)                           ($103,842)
1.   Quarter ended December 31, 2012 includes pre-production ounces from the Young-Davidson mine.
2.   See the table on slide 10 for a reconciliation of adjusted net earnings and refer to the discussion of Non-GAAP measures in the Company’s Q4 2012 Financial Results Press Release.
3.   Non-cash goodwill impairment charge related to the El Chanate mine as required under IFRS accounting standards.
4.   See the table at the end of this presentation for a reconciliation of operating cash flow (before changes in working capital).
                                                                                                                                                                                              18
2012 Consolidated Performance

                                                                                                                 Year Ended                              Year Ended
(in thousands, except ounces, per share amounts, average realized prices
and total cash costs)
                                                                                                               Dec. 31, 2012                           Dec. 31, 2011

Gold ounces produced(1)                                                                                                       250,484                                   187,423

Total cash costs per gold ounce                                                                                                    $542                                      ($92)

Revenue from mining operations                                                                                              $457,367                                   $450,115

Average realized gold price per ounce                                                                                            $1,678                                    $1,599

Adjusted net earnings(2)                                                                                                    $138,074                                     $94,292

Adjusted net earnings per share, basic(2)                                                                                          $0.49                                     $0.51

Non-cash goodwill impairment charge(3)                                                                                      $127,000                                                  -

Net (loss) / earnings                                                                                                          $33,231                                 $176,859

Net (loss) / earnings per share, basic                                                                                             $0.12                                     $0.96

Operating cash flow (before changes in working capital)(5)                                                                  $170,375                                   $201,327

Net free cash flow                                                                                                        ($433,180)                                  ($65,562)
1.   Year ended December 31, 2012 includes pre-production ounces from the Young-Davidson mine.
2.   See the table on slide 11 for a reconciliation of adjusted net earnings and refer to the discussion of Non-GAAP measures in the Company’s Q4 2012 Financial Results Press Release.
3.   Non-cash goodwill impairment charge related to the El Chanate mine as required under IFRS accounting standards.
4.   See the table at the end of this presentation for a reconciliation of operating cash flow (before changes in working capital).                                                       19
Operating Cash Flow Reconciliation

                                                                   Quarter Ended       Quarter Ended   Year Ended       Year Ended

                                                                   Dec. 31, 2012(1) Dec. 31, 2011(1) Dec. 31, 2012(1) Dec. 31, 2011(1)
(in thousands, except per share amounts)

 Operating cash flow                                                     ($5,127)         $42,077        $80,404         $181,824


 Less: non-cash working capital                                              $39,233      $34,038        $89,971          $19,503


 Operating cash flow, adjusted                                               $34,106      $76,115       $170,375         $201,327


 Per share, basic                                                            ($0.02)       $0.17          $0.28            $0.99


 Per share, basic, adjusted                                                   $0.12        $0.30          $0.60            $1.10

 1.   Includes the results of both continuing and discontinued operations.




                                                                                                                                         20

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03 26-13 q4 2012 financial results webcast presentation(2) (2) v001-z362bq

  • 1. Q4 2012 Financial Results Conference Call and Webcast March 26, 2013
  • 2. FORWARD LOOKING STATEMENTS Cautionary Statement Certain information included in this presentation constitutes forward-looking statements, including any information as to our projects, plans and future financial and operating performance. All statements, other than statements of historical fact, are forward-looking statements. The words “expect”, “believe”, “anticipate”, “will”, “intend”, “estimate”, “forecast”, “budget”, “schedule” and similar expressions identify forward-looking statements. Forward- looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive 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, but are not limited to: changes to current estimates of mineral reserves and resources; fluctuations in the price of gold; changes in foreign exchange rates (particularly the Canadian dollar, Mexican peso and U.S. dollar); the impact of inflation; changes in our credit rating; any decision to declare a quarterly dividend; employee relations; litigation; disruptions affecting operations; availability of and increased costs associated with mining inputs and labor; development delays at the Young-Davidson mine; operating or technical difficulties in connection with mining or development activities; inherent risks associated with mining and mineral processing; the risk that the Young-Davidson and El Chanate mines may not perform as planned; uncertainty with the Company’s ability to secure capital to execute its business plans; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits; contests over title to properties; changes in national and local government legislation in Canada, Mexico and other jurisdictions in which the Company does or may carry on business in the future; risk of loss due to sabotage and civil disturbances; the impact of global liquidity and credit availability and the values of assets and liabilities based on projected future cash flows; risks arising from holding derivative instruments; business opportunities that may be pursued by the Company. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this presentation are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements. 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
  • 4. Recent Key Highlights Focused on Shareholder Value Creation • Portfolio optimization completed • Launched shareholder friendly initiatives • Updated reserves and resources • Focused on higher margin, profitable ounces • Kemess feasibility study released • Young-Davidson ramp-up on target • Shaft system on track for Q3 commissioning • Underground ramp-up on target • El Chanate: • Non-cash goodwill impairment charge • IFRIC 20 – stripping cost allocation 4
  • 6. Q4 Continuing Operations Performance(1) Quarter Ended Quarter Ended (in thousands, except ounces, per share amounts, average realized prices and total cash costs) Dec. 31, 2012 Dec. 31, 2011 Gold ounces produced(2) 41,145 18,080 Total cash costs per gold ounce $628 $401 Revenue from mining operations $63,119 $29,696 Average realized gold price per ounce $1,720 $1,661 Adjusted net earnings / (loss)(3) $13,681 ($7,410) Adjusted net earnings / (loss) per share, basic(3) $0.05 ($0.03) Non-cash goodwill impairment charge(4) $127,000 - Net (loss) / earnings ($134,420) $23,027 Net (loss) / earnings per share, basic ($0.48) $0.09 Operating cash flow (before changes in working capital)(5) $31,148 $3,069 Net free cash flow ($66,340) ($105,891) 1. Continuing operations include the Young-Davidson and El Chanate mine operations. 2. Quarter ended December 31, 2012 includes pre-production ounces from the Young-Davidson mine. 3. See the table on slide 10 for a reconciliation of adjusted net earnings and refer to the discussion of Non-GAAP measures in the Company’s Q4 2012 Financial Results Press Release. 4. Non-cash goodwill impairment charge related to the El Chanate mine. 5. See the table at the end of this presentation for a reconciliation of operating cash flow (before changes in working capital). 6
  • 7. 2012 Continuing Operations Performance(1) Year Ended Year Ended (in thousands, except ounces, per share amounts, average realized prices and total cash costs) Dec. 31, 2012 Dec. 31, 2011 Gold ounces produced(2) 127,283 49,395 Total cash costs per gold ounce $516 $449 Revenue from mining operations $163,622 $83,932 Average realized gold price per ounce $1,690 $1,631 Adjusted net earnings / (loss)(3) $34,729 ($7,511) Adjusted net earnings / (loss) per share, basic(3) $0.12 ($0.04) Non-cash goodwill impairment charge(4) $127,000 - Net (loss) / earnings ($97,821) $29,295 Net (loss) / earnings per share, basic ($0.34) $0.16 Operating cash flow (before changes in working capital)(5) $39,100 $4,861 Net free cash flow ($368,731) ($111,054) 1. Continuing operations include the Young-Davidson and El Chanate mine operations. 2. Year ended December 31, 2012 includes pre-production ounces from the Young-Davidson mine. 3. See the table on slide 11 for a reconciliation of adjusted net earnings and refer to the discussion of Non-GAAP measures in the Company’s Q4 2012 Financial Results Press Release. 4. Non-cash goodwill impairment charge related to the El Chanate mine. 5. See the table at the end of this presentation for a reconciliation of operating cash flow (before changes in working capital). 7
  • 8. Q4 Continuing Operations Highlights(1) Young- El Chanate Q4 2012 Q4 2011 Davidson Gold ounces produced 14,782 19,236 34,018 18,080 Pre-production gold ounces produced - 7,127 7,127 - Total gold ounces produced 14,782 26,363 41,145 18,080 Gold ounces sold 13,967 22,170 36,137 17,355 Pre-production gold ounces sold - 3,595 3,595 - Total gold ounces sold 13,967 25,765 39,762 17,355 Total cash costs per gold oz.(2),(3),(4) $468 $744 $628 $401 1. Continuing operations include the Young-Davidson and El Chanate mine operations. 2. Cash costs for the El Chanate mine and Young-Davidson mine are calculated on a per gold ounce basis, using by-product revenues as a cost credit. 3. Gold ounces used to calculate cash costs include ounces sold at the El Chanate mine and ounces produced at the Young-Davidson mine. 4. The Young-Davidson mine declared commercial production on September 1, 2012 however the Young-Davidson underground mine remains in the pre-production period. Pre- production ounces produced are excluded from the calculation of cash costs as they are credited against capitalized project costs. 8
  • 9. 2012 Continuing Operations Highlights(1) Young- El Chanate 2012 2011 Davidson Gold ounces produced 71,145 29,139 100,284 49,395 Pre-production gold ounces produced - 26,999 26,999 - Total gold ounces produced 71,145 56,138 127,283 49,395 Gold ounces sold 68,253 26,169 94,422 49,659 Pre-production gold ounces sold - 17,505 17,505 - Total gold ounces sold 68,253 43,674 111,927 49,659 Total cash costs per gold oz.(2),(3),(4) $434 $708 $516 $449 1. Continuing operations include the Young-Davidson and El Chanate mine operations. 2. Cash costs for the El Chanate mine and Young-Davidson mine are calculated on a per gold ounce basis, using by-product revenues as a cost credit. 3. Gold ounces used to calculate cash costs include ounces sold at the El Chanate mine and ounces produced at the Young-Davidson mine. 4. The Young-Davidson mine declared commercial production on September 1, 2012 however the Young-Davidson underground mine remains in the pre-production period. Pre- production ounces produced are excluded from the calculation of cash costs as they are credited against capitalized project costs. 9
  • 10. Q4 Adj. Net Earnings Reconciliation Young- Corporate & Continuing Discontinued El Chanate Ocampo El Cubo Consolidated Davidson Other Operations Operations Net (loss) / earnings $13,369 ($110,183) ($37,606) ($134,420) $111,254 ($2,277) $108,977 ($25,443) Adjustments: Unrealized foreign - - ($2,298) ($2,298) ($391) - ($391) ($2,689) exchange (gain) / loss Fair value adjustment on option component of - - $6,186 $6,186 - - - $6,186 convertible senior notes Unrealized loss on - - $17,778 $17,778 - - - $17,778 investments Realized gain on - - ($1,832) ($1,832) - - - ($1,832) investments Unrealized loss on - - $3,569 $3,569 - - - $3,569 contingent consideration Gain on disposition of 50% - - ($6,620) ($6,620) - - - ($6,620) interest in Orion Other unrealized losses and non-recurring - - $1,724 $1,724 - - - $1,724 expenses El Chanate impairment $127,000 - $127,000 - - - $127,000 charge Disposition-related costs - - - - $6,796 - $6,796 $6,796 NRV adjustment on Ocampo heap leach - - - - $7,778 - $7,778 $7,778 inventory Gain on disposition of El - - - - - $2,277 $2,277 $2,277 Cubo and GyC Gain on sale of Ocampo - - - - ($150,793) - ($150,793) ($150,793) Tax impact of adjustments - - $2,594 $2,594 $40,933 - $40,933 $43,527 Adjusted net earnings $13,369 $16,817 ($16,505) $13,681 $15,577 - $15,577 $29,258 Earnings per share $0.05 $0.05 $0.10 10
  • 11. 2012 Adj. Net Earnings Reconciliation Young- Corporate & Continuing Discontinued El Chanate Ocampo El Cubo Australia Consolidated Davidson Other Operations Operations Net (loss) / earnings $16,109 ($70,396) ($43,534) ($97,821) $110,990 $18,871 $1,191 $131,052 $33,231 Adjustments: Unrealized foreign - - $10,663 $10,663 $ 3,907 $2,953 $ 2,220 $ 9,080 $19,743 exchange loss Fair value adjustment on option component of - - ($4,046) ($4,046) - - - - ($4,046) convertible senior notes Unrealized loss on - - $146 $146 - - - - $146 investments Realized gain on ($1,500) ($1,500) - - - - ($1,500) investments Unrealized gain on - - ($1,713) ($1,713) - - - - ($1,713) derivatives Unrealized gain on - - ($1,568) ($1,568) - - - - ($1,568) contingent consideration Loss on discontinuance of - - $1,882 $1,882 - - - - $1,882 hedge accounting Loss on extinguishment of - - $3,945 $3,945 - - - - $3,945 debt Provision for settlement of - - $2,362 $2,362 - - - - $2,362 lawsuit Gain on disposition of 50% - - ($6,620) ($6,620) - - - - ($6,620) interest in Orion Disposition-related costs - - - - $9,161 $1,928 $1,034 $12,123 $12,123 El Chanate impairment $127,000 - $127,000 - - - - $127,000 charge NRV adjustment on Ocampo heap leach - - - - $16,070 - - $16,070 $16,070 inventory Australia impairment - - - - - - $22,857 $22,857 $22,857 charge Loss on disposition of - - - - - - $1,736 $1,736 $1,736 Australia Gain on disposition of El - - - - - ($21,785) - ($21,785) ($21,785) Cubo and GyC Gain on sale of Ocampo - - - - ($150,793) - - ($150,793) ($150,793) Tax impact of adjustments - - $1,999 $1,999 $79,725 $3,234 $ 46 $83,005 $85,004 Adjusted net earnings $16,109 $56,604 ($37,984) $34,729 $69,060 $5,201 $29,084 $103,345 $138,074 Earnings per share $ 0.12 $ 0.37 $ 0.49 11
  • 12. El Chanate Guidance Revision Cash Cost Guidance Revision – IFRIC 20 • Capitalization of fewer stripping costs at the El Chanate mine • Includes 2013 and 2012 operational stripping • Amended 2013 cash cost guidance • Increased cash costs guidance to $550 to $600 per gold ounce • All-in cash costs and cash flow streams not impacted • Decreases sustaining capital estimates to $8 to $12 million 2013 Operational Estimates – Revised(1) 2013 Original New Gold Production (ounces) 70,000-80,000 70,000-80,000 Cash Costs (per gold ounce) $475-$525 $550-$600 All-in Cash Costs (per gold ounce) $900-$1,000 $900-$1,000 Sustaining Capital (US$ millions) $12,000-$17,000 $8,000-$12,000 Capital Expenditures (US$ millions) $35,000-$45,000 $30,000-$40,000 (1) Refer to endnote #2 12
  • 14. 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 $150M(1) Sheet • Growing profitability and cash flow per share • Completed $300M substantial issuer bid Shareholder Friendly • Launched peer-leading dividend policy Initiatives • Growing dividend per share • Insider buying (1) Refer to endnote #1. 14
  • 15. Q&A
  • 16. Endnotes 1. Company cash on hand and fully diluted shares (excluding convertible debentures) as of December 31, 2012, 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. For more information regarding AuRico Gold’s 2013 operational estimates, including production, costs, and capital investments, please refer to the press release dated January 18, 2013, available on the Company website at www.auricogold.com. 16
  • 18. Q4 Consolidated Performance Quarter Ended Quarter Ended (in thousands, except ounces, per share amounts, average realized prices, and total cash costs) Dec. 31, 2012 Dec. 31, 2011 Gold ounces produced(1) 50,730 72,141 Total cash costs per gold ounce $736 $375 Revenue from mining operations $89,316 $154,811 Average realized gold price per ounce $1,721 $1,672 Adjusted net earnings(2) $29,258 $2,876 Adjusted net earnings per share, basic(2) $0.10 $0.01 Non-cash goodwill impairment charge(3) $127,000 - Net (loss) / earnings ($25,443) $77,936 Net (loss) / earnings per share, basic ($0.09) $0.31 Operating cash flow (before changes in working capital)(5) $34,106 $76,115 Net free cash flow ($90,124) ($103,842) 1. Quarter ended December 31, 2012 includes pre-production ounces from the Young-Davidson mine. 2. See the table on slide 10 for a reconciliation of adjusted net earnings and refer to the discussion of Non-GAAP measures in the Company’s Q4 2012 Financial Results Press Release. 3. Non-cash goodwill impairment charge related to the El Chanate mine as required under IFRS accounting standards. 4. See the table at the end of this presentation for a reconciliation of operating cash flow (before changes in working capital). 18
  • 19. 2012 Consolidated Performance Year Ended Year Ended (in thousands, except ounces, per share amounts, average realized prices and total cash costs) Dec. 31, 2012 Dec. 31, 2011 Gold ounces produced(1) 250,484 187,423 Total cash costs per gold ounce $542 ($92) Revenue from mining operations $457,367 $450,115 Average realized gold price per ounce $1,678 $1,599 Adjusted net earnings(2) $138,074 $94,292 Adjusted net earnings per share, basic(2) $0.49 $0.51 Non-cash goodwill impairment charge(3) $127,000 - Net (loss) / earnings $33,231 $176,859 Net (loss) / earnings per share, basic $0.12 $0.96 Operating cash flow (before changes in working capital)(5) $170,375 $201,327 Net free cash flow ($433,180) ($65,562) 1. Year ended December 31, 2012 includes pre-production ounces from the Young-Davidson mine. 2. See the table on slide 11 for a reconciliation of adjusted net earnings and refer to the discussion of Non-GAAP measures in the Company’s Q4 2012 Financial Results Press Release. 3. Non-cash goodwill impairment charge related to the El Chanate mine as required under IFRS accounting standards. 4. See the table at the end of this presentation for a reconciliation of operating cash flow (before changes in working capital). 19
  • 20. Operating Cash Flow Reconciliation Quarter Ended Quarter Ended Year Ended Year Ended Dec. 31, 2012(1) Dec. 31, 2011(1) Dec. 31, 2012(1) Dec. 31, 2011(1) (in thousands, except per share amounts) Operating cash flow ($5,127) $42,077 $80,404 $181,824 Less: non-cash working capital $39,233 $34,038 $89,971 $19,503 Operating cash flow, adjusted $34,106 $76,115 $170,375 $201,327 Per share, basic ($0.02) $0.17 $0.28 $0.99 Per share, basic, adjusted $0.12 $0.30 $0.60 $1.10 1. Includes the results of both continuing and discontinued operations. 20