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BMO Global Metals & Mining Conference
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Committed to Shareholder Value Creation
BMO Global Metals & Mining Conference
February 26, 2013 TSX: AUQ / NYSE: AUQ
www.auricogold.com
FORWARD LOOKING STATEMENTS
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
Capital Markets Profile
Analyst Coverage
1. BMO Nesbitt Burns
2. Canaccord Genuity
3. CIBC
4. Credit Suisse
5. Dahlman Rose
6. Desjardins Securities
7. Dundee Securities
8. GMP Securities
9. Mackie Research
10. Macquarie Securities
11. Merrill Lynch
12. National Bank
13. Raymond James
14. RBC Capital Markets
15. Scotia Capital
16. TD Securities
17. UBS
Capital Structure
Cash on hand(1) US$300M+
Available Credit Facility(1) US$150M
Fully diluted shares outstanding(1) 258.3M
Market Capitalization $1.6B
NYSE & TSX 3-month avg. daily trading volume 4.1M
3 (1) Refer to endnote #1.
A High Quality, Low Cost Asset Base
Stawell Fosterville El Cubo
$1319
$1895
2011 gold price range
Current asset
Divested asset
El Chanate Young-Davidson Ocampo
“We have significantly traded up on the overall quality of the asset base which positions AuRico well for reliable, consistent, and sustainable performance.”
4
Streamlined Asset Base on the Lower End of the Industry Cost Curve
Percentile of total paid gold
Cas
h co
st c
urve
(US$
/oz)
Source: Company documents
The Transformed AuRico
• High quality operations located in North America • Divested Non-Core Assets ($1.0B+) • Cash costs at lower end of industry cost curve • Long mine lives & growing reserves per share
Quality Assets
• Strong organic production growth profile • Focused on quality, low-cost ounces • Growing production per share
Organic Growth Profile
• Cash balance of US$300M(1) • Undrawn debt facility of $150M(1) • Growing profitability and cash flow per share
Peer-Leading Balance Sheet
• Completed $300M substantial issuer bid • Launched peer-leading dividend policy • Growing dividend per share • Insider buying
Shareholder Friendly Initiatives
Delivering Reliable, Consistent, Sustainable Performance
5 (1) Refer to endnote #1.
Kemess
Young-Davidson
El Chanate
Orion
High Quality Asset Base
Young-Davidson, Canada 2012A 2013E(3)
Production Au oz.(5) 56,138 120-140k
Cash Costs per Au oz.(2) $690-$710 $575-$675
2011 Reserves and Resources (000’s oz Au)
Proven and Probable Reserves 3,831 2.56 Au g/t(4)
Measured and Indicated Resources 956 2.03 Au g/t(4)
Inferred Resources 1,431 2.43 Au g/t(4)
El Chanate, Mexico 2012A 2013E(3)
Production Au oz. 71,145 70-80k
Cash Costs per Au oz.(2) $425-$445 $475-$525
2011 Reserves and Resources (000’s oz Au)
Proven and Probable Reserves 1,285 0.65 Au g/t(4)
Measured and Indicated Resources 38 0.42 Au g/t(4)
Inferred Resources 8 0.46 Au g/t(4)
A Pure Gold Producer Focused on Quality Assets in North America
6 (2) Refer to endnote #2. (4) Refer to endnote #4. (3) Refer to endnote #3. (5) Refer to endnote #5.
YD Historic Mine Workings
Open Pit
Ramp Portal 10350L
NG Shaft MCM Shaft
9890L
9590L
9400L
9200L
8900L
MCM Historic Mine Workings
Young-Davidson Mine
• Low cost producer & strong production growth profile
• Long mine life: Opportunity for expansion as reserves increase
• Underground production commenced from UBZ (Oct./12)
• Mill exceeding design capacity
• Hoisting ore during Q3 2013
• Exploration Focus:
• YD West Zone
• Orebody open at depth
UBZ Zone
Mid-Shaft Loading Pocket
YD West Zone
2012A 2013E(3)
Production (gold ounces)(5) 56,138 120,000-140,000
Cash Costs (per gold ounce)(2) $690-$710 $575-$675
P&P Reserves (oz.) (4) 3.8 million
Resources (oz.)(4) 1.0 million
Mine Life 17 years
7 (2) Refer to endnote #2. (4) Refer to endnote #4. (3) Refer to endnote #3. (5) Refer to endnote #5.
Young-Davidson Life of Mine
0
50
100
150
200
250
300
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
Gol
d ou
nces
(000
’s)
Tonn
es p
er d
ay
Open Pit Ore Underground Ore Stockpiled Ore Ounces - Expansion
8
Significant Mine Life: Opportunity for Expansion as Reserves Increase
Life of Mine profile depicts Proven & Probable Reserves only
El Chanate Mine
• Cash costs in lower quartile
• Achieved target mining rates of ~100k tpd
• Accelerated pre-development program complete in mid-2013
• Increasing areas under leach to 80%
• High exploration potential for expansion of existing reserves
Delivering Consistent, Stable Results; Lowest Quartile Cash Costs
2012A 2013E(3)
Production (gold ounces) 71,145 70,000-80,000
Cash Costs (per gold ounce)(2) $425-$445 $475-$525
P&P Reserves (oz.) 1.3 million
Mine Life 8 years
9
37,625 64,781
82,600 97,591 101,305 101,804
2010 2011 Q1-12 Q2-12 Q3-12 Q4-12
Open Pit Tonnes Per Day
14,871 16,444 18,080 19,093 17,882 19,388
14,782
$486
$465
$401 $409 $433 $434
$468
Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12
Quarterly Production and Cash Costs
(2) Refer to endnote #2. (3) Refer to endnote #3.
New Mineralization at El Chanate
Hole 741 (view looking south) El Chanate Mine (looking south)
North West Zone Hole ID From (m) To (m) Length (m) Au g/t
CHCI-731 183.0 192.0 9.0 0.31 210.0 217.5 7.5 0.26
CHCI-732 55.5 82.5 27.0 0.45 CHCI-733 24.0 34.5 10.5 0.91 CHCI-734 133.5 141.0 7.5 1.51 CHCI-735 97.5 103.5 6.0 2.07 CHCI-749 7.5 21.0 13.5 0.19
Rono Hole ID From (m) To (m) Length (m) Au g/t
CHCI-740 76.5 135.0 58.5 0.27 CHCI-741 114.0 166.5 52.5 0.34
Loma Prieta Hole ID From (m) To (m) Length (m) Au g/t
CHCI-705 46.5 54.0 7.5 0.92 CHCI-716 52.5 64.5 12.0 8.35
CHCI-717 58.5 66.0 7.5 3.60 88.5 93.0 4.5 6.52
CHCI-725 61.5 75.0 13.5 1.70 CHCI-727 48.0 54.0 6.0 4.52 CHCI-747 64.5 70.5 6.0 2.10
10
Kemess Underground
Kemess, Canada - Gold
2011 Resources (000’s oz Au)
Measured and Indicated Resources 2,610 0.56 Au
g/t(4)
Inferred Resources 90 0.42 Au g/t(4)
Kemess, Canada - Copper
2011 Resources (000’s lbs Cu)
Measured and Indicated Resources 861,000 0.29%(4)
Inferred Resources 30,000 0.22%(4)
• Copper/gold porphyry deposit located in British Columbia, Canada
• Draft Feasibility Study complete
• Value surfacing opportunity 11 (4) Refer to endnote #4.
Orion Joint Venture
• 50/50 Joint Venture partnership
• AuRico and Minera Frisco
• $2.0M (10,000m) combined exploration program (2013)
• 110,000 hectare land package (Nayarit State, Mexico)
• Historic mining district
• Low sulfidation, high-grade, epithermal vein system mapped over 12km
• Less than 3% of property has been drill tested
• Minimal exploration near surface and untested at depth
• Value surfacing opportunity
Orion, Mexico
2011 Resources (000’s oz Au Eq)
Measured and Indicated Resources 330 9.27 Au g/t(4)
Inferred Resources 29 4.98 Au g/t(4)
12 (4) Refer to endnote #4.
Free Cash Generating Capacity
Increasing production profile (7)
Robust cash flow profile driven by long life mines, production growth and decreasing capital expenditure profile (7)
(7) Refer to endnote #7. 13
$300
$400
$500
$600
$700
0
100
200
300
400
2012 2013 2014 2015
Cas
h co
sts
per o
unce
Oun
ces
(000
’s)
Production Cash Costs
($450)($350)($250)($150)
($50)$50
$150$250
2012 2013 2014 2015
US$
(000
's)
Consolidated Capex FCF
• 2013: Equivalent annual dividend of $0.16 per common share (payable quarterly)
• 2014: 20% payout ratio of operating cash flow (“OCF”) generated in the preceding quarter, divided by outstanding common shares at time of approval
• First quarterly dividend expected to be declared on March 25, 2013
• Leverage to growing cash flow stream
• Peer-leading yield with opportunity to increase
• Increased shareholder exposure through recent US$300M share buyback
Dividend Policy
14
Illustrative Yield per Street Consensus Operating Cash Flow per Share(6)
2.3% 2.4% 2.7%
3.3%
2013 2014 2015 2016(6) Refer to endnote #6.
Initial dividend of $0.16/per share
Payout ratio: 20% OCF
Accretive Growth Per Share(7)
15
8.8
15.5
18.2 18.1
20.8
Apr. 2011(Post CGC
Acquisition)
Oct. 2011(Post NGX
Acquisition)
YE 2011 YE 2012 Current (Feb.2013)
Proven & Probable Reserves per 1,000 Shares
10.1
20.8
32.7 32.6
37.4
Apr. 2011(Post CGC
Acquisition)
Oct. 2011(Post NGX
Acquisition)
YE 2011 YE 2012 Current (Feb.2013)
All-in Resources per 1,000 Shares(8)
0.2
0.5
0.8
1.0
1.2
2011 2012 2013E 2014E 2015E
Gold Production (ounces) per 1,000 Shares
$0.30
$0.64
$0.84 $0.83
2012E 2013E 2014E 2015E
Operating Cash Flow per Share (US$)
(7) Refer to endnote #7. (8) Refer to endnote #8.
($1.51)
($0.10)
$0.47 $0.66
2012E 2013E 2014E 2015E
Free Cash Flow per Share (US$)
$0.35 $0.40
$0.57
$0.41
2012E 2013E 2014E 2015E
Earnings per Share (US$)
The Transformed AuRico
• High quality operations located in North America • Divested Non-Core Assets ($1.0B+) • Cash costs at lower end of industry cost curve • Long mine lives & growing reserves per share
Quality Assets
• Strong organic production growth profile • Focused on quality, low-cost ounces • Growing production per share
Organic Growth Profile
• Cash balance of US$300M(1) • Undrawn debt facility of $150M(1) • Growing profitability and cash flow per share
Peer-Leading Balance Sheet
• Completed $300M substantial issuer bid • Launched peer-leading dividend policy • Growing dividend per share • Insider buying
Shareholder Friendly Initiatives
Delivering Reliable, Consistent, Sustainable Performance
16 (1) Refer to endnote #1.
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 February 1, 2013.
2. 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. Cash costs for the Young-Davidson mine are attributable to commercial production ounces only. Cash cost per ounce is a non-GAAP performance measure management uses to better assess the Company’s performance for the current period and its expected performance in the future. This non-GAAP measure does not have any standardized meaning prescribed by GAAP, and should not be considered in isolation from or as a substitute for performance measures prepared in accordance with GAAP. For more information regarding this measure, please refer to the press release dated November 12, 2012, under the heading “Non-GAAP Measures”, available on the Company website at www.auricogold.com.
3. 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.
4. Reserves and resources for Young-Davidson and El Chanate mines, Kemess Underground, and Orion represent gold or gold equivalent grade as per technical reports and Company disclosure. For more information regarding AuRico Gold’s Mineral Reserves and Resources as at December 31, 2011, please refer to the press release dated March 5, 2012, available on the Company website at www.auricogold.com. Resources excludes inferred resources.
5. Production figures include gold ounces only. 2012 production at the Young-Davidson mine includes pre-production ounces as well as ounces produced subsequent to the declaration of commercial production on September 1, 2012.
6. The illustrative yield assumes the share price as of February 13, 2013 and consensus data available as of February 2013. For more information regarding AuRico Gold’s dividend policy, please refer to the press release dated February 21, 2013, available on the Company website at www.auricogold.com.
7. Figures include 2012 preliminary results, consensus data available as of February 2013, AuRico Gold’s 2013 operational outlook disclosed in the press release dated January 18, 2013, available on the Company website at www.auricogold.com, and shares outstanding assumed to be constant at the January 31, 2013 level subsequent to the completion of a US$300M Substantial Issuer Bid. 2012 data reflects current asset base.
8. Includes reserves. Excludes Orion (50%) and Kemess. Based on reserves and resources as at December 31, 2011.
17
Committed to Shareholder Value Creation
BMO Global Metals & Mining Conference
February 26, 2013 TSX: AUQ / NYSE: AUQ
www.auricogold.com
Appendix
2013 Operational Estimates(3)
2013 Operational Estimates Gold Production (ounces)
Young-Davidson 120,000-140,000 El Chanate 70,000-80,000
Total Production 190,000-220,000 Cash Costs per Ounce
Young-Davidson $575-$675 El Chanate $475-$525
Total Cash Costs per Ounce $540-$620 All-in Cash Costs
Young-Davidson $1,250-$1,350 El Chanate $900-$1,000
Total All-in Cash Costs per Ounce $1,100-$1,200 Capital Investment Program (US$000’s)
Young-Davidson 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 – Young-Davidson $135,000-$150,000
El Chanate Non-recurring Growth Capital
Southeast Open Pit Expansion $20,000-$25,000 Heap Leach Expansion $2,000-$3,000
Sustaining Capital $13,000-$17,000 Total Capital Investment – El Chanate $35,000-$45,000 Total Capital Investment $170,000-$195,000 Depletion and Amortization (US$ per ounce)
Young-Davidson $300-$310 El Chanate $245-$255
Total Depletion and Amortization $280-$290 Exploration (US$000’s)
Young-Davidson Up to $3,500 El Chanate Up to $3,500 Other Properties Up to $8,000
Total Exploration Up to $15,000 General and Administrative (US$000’s)
Corporate G&A $25,000
20 (3) Refer to endnote #3.
All-in Costs & Cost Allocation
Cash Costs
Sustaining
Exploration
Corporate G&A
2013 All-in Consolidated Costs $1,100-$1,200 per ounce
Labour 57%
Power 6%
Diesel 9%
Consumables 19%
Materials/Mtc 9%
Cash Cost Allocation
(Includes contract labour)
All-in Costs
• Provides increased transparency
• More representative of actual cost of production
• Removes influence of accounting treatments
• Can be reconciled to OCF
21
22
23
Proven and Probable Reserves
Proven Reserves Probable Reserves
Tonnes Gold Gold Tonnes Gold Gold
(000's) (g/t) Ounces (000's) (g/t) Ounces
(000's) (000's)
Total - El Chanate 41,783 0.63 851 19,745 0.68 433
Young-Davidson - Surface 4,173 1.40 188 3,394 1.27 139
Young-Davidson - Underground 5,799 3.05 568 33,259 2.75 2,936
Total Young-Davidson 9,972 2.36 756 36,653 2.61 3,075
AuRico - Total 51,755 0.97 1,607 56,398 1.93 3,508
Proven and Probable Reserves
Tonnes Gold Gold
(000's) (g/t) Ounces
(000's)
Total - El Chanate 61,528 0.65 1,285
Young-Davidson - Surface 7,567 1.34 327
Young-Davidson - Underground 39,058 2.79 3,504
Total Young-Davidson 46,625 2.56 3,831
AuRico - Total 108,153 1.47 5,116
24
Measured and Indicated Resources
Measured Resources Indicated Resources
Tonnes Gold Silver Gold Silver Tonnes Gold Silver Gold Silver (000's) (g/t) (g/t) Ounces Ounces (000's) (g/t) (g/t) Ounces Ounces
(000's) (000's) (000's) (000's) El Chanate 1,162 0.38 - 14 - 1,652 0.44 - 23 - Young-Davidson - Surface 739 2.02 - 48 - 3,499 1.26 - 142 -
Young-Davidson - Underground 1,527 3.01 - 148 - 8,864 2.17 - 619 -
Total Young-Davidson 2,266 2.69 - 196 - 12,363 1.91 - 761 - Orion (50%) - - - - - 554 3.36 309 65 5,503 Kemess Underground - - - - - 136,500 0.56 - 2,610 - AuRico - Total 3,429 1.90 0 210 0 151,068 0.71 1 3,459 5,503
Measured and Indicated Resources
Tonnes Gold Silver Gold Silver (000's) (g/t) (g/t) Ounces Ounces
(000's) (000's) El Chanate 2,814 0.42 - 38 - Young-Davidson - Surface 4,238 1.39 - 190 -
Young-Davidson - Underground 10,391 2.30 - 767 -
Total Young-Davidson 14,629 2.03 - 956 - Orion (50%) 554 3.36 309 65 5,503 Kemess Underground 136,500 0.56 - 2,610 - AuRico - Total 154,497 0.74 1 3,669 5,503
25
Inferred and Copper Resources
Inferred Resources
Tonnes Gold Silver Gold Silver
(000's) (g/t) (g/t) Ounces Ounces
(000's) (000's)
El Chanate 549 0.46 - 8 -
Young-Davidson - Surface 3,515 1.26 - 142 -
Young-Davidson - Underground 14,784 2.71 - 1,289 -
Total Young-Davidson 18,299 2.43 - 1,431 -
Orion (50%) 91 3.33 95 10 275
Kemess Underground 6,000 0.42 - 90 -
AuRico - Total 24,938 1.92 0 1,539 275
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
26
Notes to Reserves and Resources
Reserves Resources
Au $/oz Ag $/oz Au $/oz Ag $/oz Cu $/lb
El Chanate $1250 USD - $1450 USD - -
Young-Davidson $1250 USD - $1450 USD - -
Orion - - $850 USD $13.00 USD -
Kemess Underground - - $1100 USD $20.00 USD $2.80 USD
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. • 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. • Following the joint venture agreement completed early 2013, where Minera Frisco acquired a 50% interest in the Orion project. • 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:
27
