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Press release from PR Newswire

AuRico Reports the Addition of Over 1 Million Ounces of Proven and Probable Reserves at Young-Davidson and the Discovery of Over 1.4 Million Ounces of Measured and Indicated Resources Across its Operating Mines

Monday, March 05, 2012

AuRico Reports the Addition of Over 1 Million Ounces of Proven and Probable Reserves at Young-Davidson and the Discovery of Over 1.4 Million Ounces of Measured and Indicated Resources Across its Operating Mines10:19 EST Monday, March 05, 2012TORONTO, March 5, 2012 /PRNewswire/ --Proven and Probable Reserves Increase to 8.6 Million Gold Eq. Ounces Company-wideAuRico Gold Inc. (TSX:AUQ) (NYSE: AUQ), ("AuRico" or "AuRico Gold" or the "Company")  today reported its updated Reserves and Resources, as at December 31st, 2011, which includes a 217% increase to Proven and Probable reserves, and a 758% increase in Measured and Indicated resources. The significant growth in resource inventory has been driven both by the strategic acquisitions of Capital Gold Corporation (April 2011) and Northgate Minerals Corporation (October 2011) as well as additions and discoveries of new mineralization at AuRico's North American properties.Consolidated Highlights Proven and Probable reserves of 8.63 million gold equivalent ounces[1],an increase of 5.9 million gold equivalent ounces after depletion, or an increase of 217% over 2010. Average reserve grades in the North American Division increased by 7%. Key new additions at the mine sites include: The addition of 1.55 million gold equivalent ounces prior to depletion of 549 thousand gold equivalent ounces, including: The addition of 1.01 million ounces to Proven and Probable reserves at Young-Davidson, andThe addition of 456 thousand gold equivalent ounces at Ocampo prior to mining depletion of 177 thousand gold equivalent ouncesMeasured and Indicated resources of 6.36 million gold equivalent ounces, an increase of 5.4 million gold equivalent ounces, or an increase of 758% over 2010. Average grades in the North American Division increased by 15%. Key new additions at the mine sites include: The addition of 1.13 million gold equivalent ounces company-wide, including407 thousand gold ounces at Young-Davidson,264 thousand gold equivalent ounces at Guadalupe y Calvo,259 thousand gold ounces at Fosterville,120 thousand gold equivalent ounces at Ocampo,81 thousand gold equivalent ounces at El CuboInferred Resources of 5.1 million gold equivalent ounces, an addition of 417 thousand gold equivalent ounces, or an increase of 9% over 2010Drilling discovery cost for all reserve and resource categories at the four key North American operations was less than $8 per gold equivalent ounce"Through acquisitions and a focused exploration program in 2011, we have grown our reserves by 5.9 million gold equivalent ounces, or a 217% increase company-wide. Our cornerstone assets, the Young-Davidson and Ocampo mines, contributed the majority of the 2011 reserve increase, with Young-Davidson reporting an addition of over one million gold ounces and Ocampo also discovering over 450 thousand gold equivalent ounces, many of which are high margin, mill-feed ore." stated René Marion, President and Chief Executive Officer. He added, "The updated reserve and resource profile we are reporting today is indicative of the value we have been able to realize through our key acquisitions in 2011 in addition to the ongoing exploration efforts at our mines. In the past twelve months, we have increased our reserve ounces per 1,000 shares from 19.6 to 30.6. Our core asset base in North America has transformed the company into a premier intermediate gold producer with one of the most attractive production growth profiles in the industry. With imminent production from Young-Davidson, we fully expect 2012 to be another transformational year."AuRico North America HighlightsAt year-end 2011, AuRico North America reported:Proven and Probable mineral reserves at Young-Davidson of 3.8 million gold ounces, an addition of 1.01 million gold ounces, or a 36% increase, over 2010Proven and Probable mineral reserves at Ocampo of 2.4 million gold equivalent ounces, an addition of 456 thousand gold equivalent ounces, or a 22% increase, over 2010, before depletion of 177 thousand gold equivalent ounces. The additions to reserves include: 168 thousand gold equivalent ounces at the Ocampo underground, or an increase of 21% before depletion288 thousand gold equivalent ounces at the Ocampo open pit operations, or an increase of 22% before depletionProven and Probable mineral reserves at El Chanate of 1.3 million gold ounces, a decrease of 219 thousand gold ounces, or a 15% decrease, over October 1st, 2009 (the effective date of the last published reserve update), including mining depletion of 275 thousand gold ounces since October 2009.Proven and Probable mineral reserves at El Cubo of 657 thousand gold equivalent ounces, an addition of 58 thousand gold equivalent ounces, or a 9% increase, over 2010, before depletion of 19 thousand gold equivalent ounces. AuRico Gold North America Proven and Probable Mineral Reserves by Mine (in thousands of gold equivalent ounces) December 31 2011 2010 Change (%) Young-Davidson 3,831 2,819 36% Ocampo 2,384 2,106 13% El Chanate 1,284 1,371 (6%) El Cubo 657 620 6% Total 8,157 6,916 18% The assumptions incorporated in the 2011 Reserve calculation, as compared with those in 2010, are as follows: Reserve Assumptions 2011 2010 Gold (US$/oz) $1,250 $1,025 Silver (US$/oz) $23.00 $16.60 Gold Equivalency Ratio 54.35 61.75 Through acquisitions and additions AuRico North America has increased Proven and Probable reserves by 5.43 million gold equivalent ounces, after mining depletion, as reflected in the chart below.http://files.newswire.ca/975/AuRicoChart.pdfYoung-DavidsonGiven the significant increase in gold price since the Young-Davidson Feasibility Study was completed, a re-engineering of the underground mining methods was completed over the last quarter. The Feasibility Study envisaged the use of unconsolidated rock fill and bulk mining methods such as sub-level caving and long-hole shrinkage. The mine has now been re-engineered to utilize paste backfill and longhole stoping, which allows for a significantly higher mining recovery of the in-situ resource. As a result, it is expected that mining recovery will increase from approximately 72% to approximately 92% and, it is expected that dilution will decrease from approximately 15% to below 10%. This, combined with the conversion of the YD West resource into reserves and infill drilling within the Upper Boundary Zone, has resulted in approximately one million Proven and Probable ounces being added to reserves. Drilling in 2012 will focus on extending the YD West Zone and testing additional targets on the east and west flanks of the main Young-Davidson orebodies.OcampoThe 2011 underground drilling program at Ocampo was successful in identifying six new underground veins as well as increasing Proven and Probable reserves in 16 of the existing 28 veins. The underground mining cutoff grades have been reduced from 1.80 to 1.50 gold equivalent grams per tonne due to the increased gold price assumptions. The resulting average grade of the underground reserve has dropped by only 9% as significant high grade discoveries mitigated the impact of lower cut-off grades. Reserve increases at the Ocampo open pit operations were as a result of the delineation of a new open pit that will mine the Belen upper vein and the continuation of the PGR pit to the west on the Estrella structure. Drilling in 2012 will continue to focus on extensions to the existing underground vein system, and follow-up drilling on surface showings of potential new veins and on the Estrella structure.El ChanateProven and Probable reserves at El Chanate were depleted by 219 thousand ounces, or 27 months of production, since the last reported reserve by Capital Gold Corporation (October 1st, 2009). Since AuRico acquired the property in April 2011, mining depletion has totaled 113 thousand ounces. The 2011 drilling program successfully identified mineralization below and to the south of the existing reserve pit and in 2012 drilling will focus on infilling these areas in anticipation of expanding the reserve pit towards these areas.El CuboA re-evaluation of dilution assumptions against historical production resulted in increasing cut-and-fill dilution assumptions by 25%, with a resulting corresponding decrease in average grade. Dilution assumptions will be re-visited once the mine has sufficient operating experience with the new long-hole mining method. As a result of the surface drilling program, the Dolores/Capulin structures have grown significantly. 47 thousand gold equivalent ounces were added to underground reserves, and additionally 81 thousand gold equivalent ounces were added to Indicated resources and 381 thousand ounces were added to Inferred resources at the Dolores deposit. The Dolores production ramp has currently advanced to the top of the underground ore horizon. Surface drilling in 2012 will focus on converting additional Inferred material to Measured and Indicated resources, while underground drilling will focus on down dip extensions of existing veins.AuRico AustraliaFostervilleProven and Probable mineral reserves of 364 thousand gold ounces, an increase of 12 thousand gold ounces, or 3% greater than 2010, before depletion of 123 thousand gold ounces.Measured and Indicated resources of 924 thousand gold ounces, an increase of 259 thousand gold ounces, or 39% greater than 2010.Inferred resources of 477 thousand gold ounces, a decrease of 120 thousand gold ounces, or 20% less than 2010.StawellProven and Probable mineral reserves of 107 thousand gold ounces, a decrease of 41 thousand gold ounces, or 18% less than 2010, before depletion of 85 thousand gold ounces.Measured and Indicated resources of 292 thousand gold ounces, an increase of 16 thousand gold ounces, or 6% greater than 2010.Inferred resources of 145 thousand gold ounces, an increase of 34 thousand gold ounces, or 31% greater than 2010.Guadalupe y Calvo Preliminary Economic AssessmentMicon International has completed the Preliminary Economic Assessment (PEA) of AuRico's 100%-owned Guadalupe y Calvo (GyC) project located in Chihuahua, Mexico. The updated resource (calculated using assumed gold and silver prices of $1,023 per ounce and $16.61 per ounce respectively) stands at 264 thousand gold equivalent ounces in the Measured and Indicated categories and another 146 thousand gold equivalent ounces in the Inferred category. The PEA envisions a 9 year mine life of combined open pit and underground operations with higher grade ore feeding a mill and lower grade ore being stacked on a heap leach facility.The results of the PEA have confirmed that GyC has the potential to produce a meaningful amount of gold and silver averaging 36,000 gold equivalent ounces per year for the first 8 years at a competitive cash cost of $467 per gold equivalent ounce. Upfront capital requirements are estimated at $86 million. The PEA economics highlight GyC's excellent leverage to gold and silver prices with the pre-tax 5% NPV of $126 million at AuRico's resource metal price assumptions of $1,450/oz Au and $26/oz Ag increasing to $211 million at spot prices.GyC PEA Results - 4 Case Comparison Case 1 Case 2 Case 3 Case 4 GyC PEA AuRico Resource AuRico Resource Price Reserve Price Price Spot Price Assumptions Assumptions Assumptions Assumptions Gold Price ($/oz) $1,023 $1,250 $1,450 $1,770 Silver Price ($/oz) $16.61 $23.00 $26.35 $35.00 Au/Ag Ratio 61.6 54.3 55.0 50.6 LOM Production (Koz) Gold 156.7 Silver 8,490.4 Gold Equivalent 294.5 306.1 311.0 331.5 Mine Life (years) 10 Average Annual Production (Koz)[1] Gold 17.6 Silver 968.1 Gold Equivalent 34.4 35.8 36.4 38.9 Costs (US$ million) Up-Front Capex $85.9 Sustaining Capital $22.4 LOM Cash Costs (US$/Gold-Equivalent oz) $493 $474 $467 $438 Returns Pre-Tax Net Free Cash Flow (US$ M) $40.4 $120.6 $188.0 $298.9 Pre-Tax 5% NPV (US$ M) $13.2 $74.7 $126.3 $211.4 Pre-Tax IRR 8.4% 22.2% 32.4% 47.7% Post-Tax Net Free Cash Flow (US$ M) $34.4 $93.5 $142.1 $222.5 Post-Tax 5% NPV (US$ M) $9.3 $55.8 $93.4 $155.4 Post-Tax IRR 7.5% 19.3% 27.9% 40.9% [1] First 8 yearsChris Bostwick, Senior Vice President Technical Services, AuRico Gold Inc., a Qualified Person under NI 43-101, has reviewed the technical information in this press release.[1] Gold equivalent calculations for reserves metal prices of $1,250/oz for gold and $23.00/oz for silver, for a gold to silver ratio of 54.35:1. Gold equivalent calculations for resources use metal prices of $1,450/oz for gold and $26.35/oz for silver for a gold to silver ratio of 55.03:1.About AuRico GoldAuRico Gold is a leading intermediate Canadian gold and silver producer with a diversified portfolio of high quality mines and projects in Canada, Mexico and Australia. The Company currently has five operating properties including the Ocampo mine in Chihuahua State, the El Chanate mine in Sonora State, the El Cubo mine in Guanajuato State, as well as the Fosterville and Stawell gold mines in Victoria, Australia. The first production from the exciting Young-Davidson gold mine in northern Ontario is expected by the end of Q1 2012 as the mine ramps up to over 200,000 ounces of annual production by 2015.  AuRico's strong pipeline of development and exploration stage projects includes advanced development properties in Mexico and British Columbia and several highly prospective exploration properties in Mexico. AuRico's head office is located in Toronto, Ontario, Canada.Cautionary StatementCertain statements included herein, including information as to the future financial or operating performance of the Company, its subsidiaries and its projects, constitute forward-looking statements. The words "believe", "expect", "anticipate", "target", "continue", "estimate", "may", and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding anticipated future financial and operational performance, the ability to continue to fund expansion and exploration operations through cash flows, the ability of the Company to optimize and expand its operations and development projects through capital expenditure, the ability of the Company to complete its expansion studies in a timely manner and to achieve positive results therefrom, the ability to realize the perceived benefits of the acquisition of Northgate, the ability of Young-Davidson to commence production by the end of Q1 2012 and to achieve over 200,000 ounces of annual production by 2015 and to meet the timelines for the commencement of mill processing, the ability to accelerate underground production at Young-Davidson, the ability to increase mining rates at Young-Davidson, the ability of the Company to achieve its targets for the continued expansion and development of Ocampo and El Chanate, the ability to improve infrastructure and productivity at El Cubo, Stawell and Fosterville, the future price of gold and silver and the ratio of their prices, the de-risking of operations, future exploration results of the Company's exploration and development programs and the success of the Company's exploration approaches, the Company's ability to delineate additional resources and reserves as a result of such programs, statements regarding the Company's financial exposure to litigation, targets, estimates and assumptions in respect of gold and silver production and prices, operating costs, results and capital expenditures, mineral reserves and mineral resources and anticipated grades, recovery rates, future financial or operating performance, margins, operating and exploration expenditures, costs and timing of completion of the Ocampo expansion program and improvements to the heap leach pad, costs and timing of the development and commencement of production of new deposits, costs and timing of construction, costs and timing of future exploration and reclamation expenses including, anticipated 2011 and 2012 results, operating performance projections for 2011 and 2012, the Company's ability to fully fund its business model internally, 2011 and 2012 gold and silver production and the cash and operating costs associated therewith, the ability to achieve productivity and operational efficiencies, and the timing of each thereof. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. The operating and financial performance of the Company will be affected by changes in the actual gold equivalency ratio realized in 2011 and 2012. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Such factors include, among others, known and unknown uncertainties and risks relating to additional funding requirements, reserve and resource estimates, commodity prices, hedging activities, exploration, development and operating risks, illegal miners, political and foreign risk, uninsurable risks, competition, limited mining operations, production risks, environmental regulation and liability, government regulation, currency fluctuations, recent losses and write-downs, restrictions in the Company's loan facility, dependence on key employees, possible variations of ore grade or recovery rates, failure of plant, equipment or process to operate as anticipated, accidents and labour disputes. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Proven Reserves Tonnes Gold Silver Gold Gold Silver Gold (000's) (g/t) (g/t) Equiv Ounces Ounces Equiv. Oz (g/t) (000's) (000's) (000's) Ocampo - Open Pit 23,647 0.45 18 0.78 339 13,613 590 Ocampo - Underground 3,473 2.78 128 5.15 311 14,347 575 Total Ocampo 27,120 0.75 32 1.34 650 27,960 1,164 Total El Cubo 2,238 1.84 114 3.89 132 8,199 280 Total - El Chanate 41,783 0.63 - - 851 - 851 Young-Davidson - Surface 4,173 1.4 - - 188 - 186 Young-Davidson - Underground 5,799 3.05 - - 568 - 568 Total Young-Davidson 9,972 2.36 - - 756 0 754 AuRico - North America 81,113 0.92 14 1.17 2,389 36,159 3,050 Fosterville 560 7.02 - - 126 - 126 Stawell - Surface - - - - - - - Stawell - Underground 95 3.75 - - 11 - 11 Total - Stawell 95 3.6 - - 11 - 11 AuRico - Australia 655 6.52 - 6.52 137 - 137 AuRico - Total 81,769 0.96 14 1.21 2,527 36,159 3,187 (table continued) Probable Reserves Tonnes Gold Silver Gold Gold Silver Gold (000's) (g/t) (g/t) Equiv. Ounces Ounces Equiv. Oz (g/t) (000's) (000's) (000's) Ocampo - Open Pit 45,242 0.37 15 0.64 543 21,410 937 Ocampo - Underground 2,425 1.91 93 3.63 149 7,268 283 Total Ocampo 47,666 0.45 19 0.8 692 28,678 1,220 Total El Cubo 3,152 1.88 102 3.72 190 10,313 377 Total - El Chanate 19,745 0.68 - - 433 - 433 Young-Davidson - Surface 3,394 1.27 - - 139 - 139 Young-Davidson - Underground 33,259 2.75 - - 2,936 - 2,936 Total Young-Davidson 36,653 2.61 - - 3,075 - 3,075 AuRico - North America 107,217 1.27 11 1.48 4,391 38,991 5,105 Fosterville 1,851 4 - - 238 - 238 Stawell - Surface 120 0.8 - - 3 - 3 Stawell - Underground 756 3.81 - - 93 - 93 Total - Stawell 876 3.41 - - 96 - 96 AuRico - Australia 2,727 3.81 - 3.81 334 - 334 AuRico - Total 109,944 1.34 11 1.54 4,725 38,991 5,439 Total Proven and Probable Reserves Gold Gold Silver Gold Tonnes Gold Silver Equiv. Ounces Ounces Equiv. Oz (000's) (g/t) (g/t) (g/t) (000's) (000's) (000's) Ocampo - Open Pit 68,889 0.40 16 0.69 882 35,023 1,527 Ocampo - Underground 5,897 2.42 114 4.52 460 21,615 857 Total Ocampo 74,786 0.56 24 0.99 1,342 56,638 2,384 Total El Cubo 5,390 1.86 107 3.79 322 18,512 657 Total - El Chanate 61,528 0.65 - - 1,285 - 1,285 Young-Davidson - Surface 7,567 1.34 - - 327 - 327 Young-Davidson - Underground 39,058 2.79 - - 3,504 - 3,504 Total Young-Davidson 46,625 2.56 - - 3,831 - 3,831 AuRico - North America 188,330 1.12 12 1.35 6,780 75,150 8,157 Fosterville 2,411 4.70 - - 364 - 364 Stawell - Surface 120 0.80 - - 3 - 3 Stawell - Underground 851 3.80 - - 104 - 104 Total - Stawell 971 3.43 - - 107 - 107 AuRico - Australia 3,382 4.33 - 4.33 471 - 471 AuRico - Total 191,712 1.18 12 1.40 7,251 75,150 8,628 Measured Resources Tonnes Gold Silver Gold Gold Silver Gold (000's) (g/t) (g/t) Equivalent Ounces Ounces Equiv. Oz (g/t) (000's) (000's) (000's) Ocampo - Open Pit 9,552 0.33 20 0.69 101 6,121 212 Ocampo - Underground 607 1.37 64 2.53 27 1,255 49 Total Ocampo 10,158 0.39 23 0.8 128 7,376 262 Total El Cubo 337 1.1 65 2.27 12 701 25 El Chanate 1,162 0.38 - - 14 - 14 Young-Davidson - Surface 739 2.02 - - 48 - 48 Young-Davidson - Underground 1,527 3.01 - - 148 - 148 Total Young-Davidson 2,266 2.69 - - 196 - 196 Orion - - - - - - 0 Kemess Underground - - - - - - 0 Guadalupe y Calvo - - - - - - 0 AuRico - North America 13,924 0.78 18 1.11 349 8,076 496 Fosterville - Surface 2,294 2.19 - - 162 - 162 Fosterville - Underground 41 6.12 - - 8 - 8 Fosterville - Total 2,335 2.26 - - 170 - 170 Stawell - Surface - - - - - - 0 Stawell - Underground - - - - - - 0 Total - Stawell - - - - - - 0 AuRico - Australia 2,335 2.26 - 2.26 170 - 170 AuRico - Total 16,259 0.99 15 1.27 519 8,076 666 (table continued) Indicated Resources Tonnes Gold Silver Gold Gold Silver Gold (000's) (g/t) (g/t) Equivalent Ounces Ounces Equiv. Oz (g/t) (000's) (000's) (000's) Ocampo - Open Pit 20,555 0.2 8 0.35 130 5,430 229 Ocampo - Underground 495 1.07 50 1.98 17 801 32 Total Ocampo 21,050 0.22 9 0.39 147 6,231 261 Total El Cubo 3,874 2.07 61 3.17 257 7,600 395 El Chanate 1,652 0.44 - - 23 - 23 Young-Davidson - Surface 3,499 1.26 - - 142 - 142 Young-Davidson - Underground 8,864 2.17 - - 619 - 619 Total Young-Davidson 12,363 1.91 - - 761 - 761 Orion 1,107 3.36 309 9.27 130 11,006 330 Kemess Underground 136,500 0.56 - - 2,610 - 2,610 Guadalupe y Calvo 2,523 1.55 93 3.25 126 7,585 264 AuRico - North America 179,069 0.7 6 0.81 4,055 32,421 4,644 Fosterville - Surface 6,468 1.41 - - 293 - 293 Fosterville - Underground 2,728 5.26 - - 461 - 461 Fosterville - Total 9,195 2.55 - - 754 - 754 Stawell - Surface 3,134 2.16 - - 218 - 218 Stawell - Underground 598 3.86 - - 74 - 74 Total - Stawell 3,732 2.43 - - 292 - 292 AuRico - Australia 12,927 2.52 - 2.52 1,046 - 1,046 AuRico - Total 191,996 0.83 5 0.92 5,101 32,421 5,690 Total Measured and Indicated Resources Gold Gold Silver Gold Tonnes Gold Silver Equivalent Ounces Ounces Equiv. Oz (000's) (g/t) (g/t) (g/t) (000's) (000's) (000's) Ocampo - Open Pit 30,106 0.24 12 0.46 231 11,551 441 Ocampo - Underground 1,102 1.23 58 2.29 44 2,056 81 Total Ocampo 31,208 0.27 14 0.52 275 13,607 522 Total El Cubo 4,211 1.99 61 3.10 269 8,300 420 El Chante 2,814 0.42 - - 38 - 38 Young-Davidson - Surface 4,238 1.39 - - 190 - 190 Young-Davidson - Underground 10,391 2.30 - - 767 - 767 Total Young-Davidson 14,629 2.03 - - 956 - 956 Orion 1,107 3.36 309 9.27 130 11,006 330 Kemess Underground 136,500 0.56 - - 2,610 - 2,610 Guadalupe y Calvo 2,523 1.55 93 3.25 126 7,585 264 AuRico - North America 192,993 0.71 7 0.83 4,405 40,498 5,140 Fosterville - Surface 8,761 1.41 - - 454 - 454 Fosterville - Underground 2,769 5.26 - - 469 - 469 Fosterville - Total 11,530 2.49 - - 924 - 924 Stawell - Surface 3,134 2.16 - - 218 - 218 Stawell - Underground 598 3.86 - - 74 - 74 Total - Stawell 3,732 2.43 - - 292 - 292 AuRico - Australia 15,262 2.48 - 2.48 1,216 - 1,216 AuRico - Total 208,255 0.84 6 0.95 5,620 40,498 6,356 Copper Resources Tonnes Copper Copper (000's) (%) Pounds Kemess Underground (000's) Indicated 136,500 0.29 861,000 Inferred 6,000 0.22 30,000 Inferred Resources Tonnes Gold Silver Gold Gold Silver Gold (000's) (g/t) (g/t) Equivalent Ounces Ounces Equiv. Oz (g/t) (000's) (000's) (000's) Ocampo - Surface 27,068 0.4 20 0.77 347 17,822 671 Ocampo - Underground 4,041 3.75 232 7.97 488 30,116 1,035 Total Ocampo 31,109 0.83 48 1.71 835 47,938 1,706 Total El Cubo 7,198 2.37 115 4.46 548 26,682 1,031 El Chanate 549 0.46 - - 8 - 8 Young-Davidson - Surface 3,515 1.26 - - 142 - 142 Young-Davidson - Underground 14,784 2.71 - - 1,289 - 1,289 Total Young-Davidson 18,299 2.43 - - 1,431 - 1,431 Orion 181 3.33 95 4.98 19 550 29 Kemess Underground 6,000 0.42 - - 90 - 90 Guadalupe y Calvo 1,832 1.13 74 2.48 67 4,357 146 AuRico - North America 65,168 1.43 38 2.12 2,998 79,528 4,441 Fosterville - Surface 2,554 1.51 - - 124 - 124 Fosterville - Underground 2,490 4.41 - - 353 - 353 Fosterville - Total 5,045 2.94 - - 477 - 477 Stawell - Surface 39 1.57 - - 2 - 2 Stawell - Underground 916 4.85 - - 143 - 143 Total - Stawell 955 4.72 - - 145 - 145 AuRico - Australia 6,000 3.22 - 3.22 622 - 622 AuRico - Total 71,168 1.58 35 2.21 3,620 79,528 5,063 Notes to Reserves and Resources:Mineral Reserves and Resources have been stated as at December 31, 2011.AuRico acquired Capital Gold Corporation, including the El Chanate and Orion properties, in April 2011. AuRico acquired Northgate Minerals Corporation, including the Young-Davidson, Fosterville, Stawell and Kemess properties, in October 2011.Gold equivalent calculations for Ocampo and El Cubo use the reserve metal prices of $1,250/oz for gold and $23.00/oz for silver, for a gold to silver ratio of 54.35:1.  Individual process recoveries are not factored into the gold to silver ratio calculation.Gold equivalent calculations for Ocampo, El Cubo, Orion and Guadalupe y Calvo, use the resource metal prices of $1,450/oz for gold and $26.35/oz for silver for a gold to silver ratio of 55.03:1. Individual process recoveries are not factored into the gold to silver ratio calculation.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 calculated 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 Resources 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 Gold's Mineral Resources constitute or will be converted into Reserves.The following metal prices were used for the calculation of Reserves and Resources: Reserves Resources Au $/oz Ag $/oz Au $/oz Ag $/oz Cu $/lb $23.00 $26.35 Ocampo $1250 USD USD $1450 USD USD - $23.00 $26.35 El Cubo $1250 USD USD $1450 USD USD - El Chanate $1250 USD - $1450 USD - - Young-Davidson $1250 USD - $1450 USD - - Fosterville $1300 AUD - $1450 AUD - - Stawell $1300 AUD - $1450 AUD - - $16.61 GyC - - $1023 USD USD - $13.00 Orion - - $850 USD USD - Kemess $20.00 Underground - - $1100 USD USD $2.80 USD Reserves and Resources were prepared under the supervision of the following Qualified Persons: Resources Reserves Ramon Luna, P.Geo, Ocampo Ramon Luna, P.Geo, Director, Servicios Director, Servicios y y Proyectos Mineros Proyectos Mineros De De Mexico S.A. de Mexico S.A. de C.V C.V Glenn R. Clark, El Cubo - Excluding Dolores Glenn R. Clark, P.Eng, P.Eng, Principal, Principal, Glenn R. Clark Glenn R. Clark & & Associates Associates El Cubo - Dolores Jeff Volk, CPG, FAusIMM, Paul Arscott, P.Geo, Principal Resource Technical Service Geologist, SRK Consulting Manager, Minera El (US) Inc Cubo El Chanate Jeff Volk, CPG, FAusIMM, Joanna Peck, MMSA, Principal Resource Senior Consultant Geologist, SRK Consulting (Mining), SRK (US) Inc Consulting (US) Inc Chris Bostwick, Young Davidson Carl Edmunds, P.Geo, FAusIMM, SVP Exploration Manager, Technical Services, AuRico Gold Inc. AuRico Gold Inc. Fosterville Simon Hitchman, AIG, Troy Chris Bostwick, Fuller AIG, both of FAusIMM, SVP Fosterville Gold Mine Pty Technical Services, Ltd. AuRico Gold Inc. Austin Hemphill, Stawell Mark Haydon, AIG, Geology MAusIMM (CP), Chief Manager, Stawell Gold Engineer, AuRico Mines Gold Inc. GyC Chris Bostwick, FAusIMM, SVP Technical Services, AuRico Gold Inc. Orion Jeffrey Volk, CPG, FAusIMM, Peter Clarke, P.Eng., Paul Riley, C.Eng, FIMMM, G. Dante Ramírez-Rodríguez, MMSA, all of SRK Consulting (US) Inc. Kemess Underground Carl Edmunds P.Geo., Exploration Manager, AuRico Gold Inc., Michael Thomas, MAusIMM (CP), Principal Mining Consultant, AMC Consultants Pty Ltd, Ken Major, P.Eng, KWM Consulting Inc. PDF with caption: "AuRico North America Proven and Probable Reserves". PDF available at: http://stream1.newswire.ca/media/2012/03/05/20120305_C9650_DOC_EN_10734.pdfFor further information:For further information please visit the AuRico Goldwebsite at http://www.auricogold.com or contact:René Marion President & Chief Executive Officer AuRico Gold Inc. +1-647-260-8880 Anne Day Director of Investor Relations AuRico Gold Inc. +1-647-260-8880SOURCE AuRico Gold Inc.