Note:  Mineral Resources are inclusive of Mineral Reserves. Mineral Resources are shown on a 100% basis, of which Alacer owns varying amount from 50% to 80%. Alacer's attributable Measured and Indicated portion is 120,000 contained ounces and 29,000 Inferred contained ounces. The Ҫakmaktepe and Bayramdere deposits are part of the Çöpler Project and will contribute to the overall Çöpler Mineral Resource estimate. The key assumptions, parameters, and methods used to estimate the Mineral Resources are provided in the appendices to this announcement. We are not aware of any new information or data that materially affects the information included in this announcement and that all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed. Rounding differences will occur.

Note:  Mineral Reserves are shown on a 100% basis, of which Alacer owns 50%. The Mineral Reserves methodology and cut-off grades are summarized in the appendices to this announcement. Ҫakmaktepe is part of the Çöpler Project and will contribute to the overall Çöpler Mineral Reserve estimate. The key assumptions, parameters, and methods used to estimate the Mineral Resources and Mineral Reserves are provided in the appendices to this announcement. We are not aware of any new information or data that materially affects the information included in this announcement and that all material assumptions and technical parameters underpinning the estimates in this announcement to apply and have not materially changed. Rounding differences will occur.

The deposits are hosted in a sequence of stacked, shallow-dipping fault-bounded slices of ultramafic rocks and sedimentary rocks (dominated by dolomites), apparently intruded by porphyritic granodioritic rocks. Gold mineralization is hosted at shallow depths (commonly <20 m below surface) in silicified carbonaceous rocks and gossanous ironstones and dolomites. Gold mineralization is largely present as oxide material but there are zones of less- or little-oxidized sulfides. Listwanites appears to be mineralized at the fault contact and unmineralized at the surface.

A geological map accompanying this release is available at  http://resource.globenewswire.com/Resource/Download/f2d091cd-11eb-4272-b5b7-a20d9e8b3646

An image of the SW-NE Interpretive Cross-section in Çakmaktepe Far North Project accompanying this release is available at http://resource.globenewswire.com/Resource/Download/2bb0cf19-16cc-4699-8b93-482b918fef60

HQ size scissors holes were drilled to test the mineralized zone for continuity and lateral changes. EW cross sections clearly indicate that the mineralized zone is a sub-horizontal zone extending from the fault bounded creek at the east to a fault zone on the west. Section A-A' is located 60m to the north of B-B' section. In both sections, mineralization to the west is terminated by a granodiorite intrusion. Jasperoid and breccia control on gold mineralization is clear in both cross sections. Exploration focus is on quartz vein density further north where the intensity of alteration increases. Quartz vein density reaches up to 5% in tested listwanites.

Cross section graphs accompanying this release are available at http://resource.globenewswire.com/Resource/Download/2516372f-9243-48b6-a585-9713fd432443

Alacer's exploration licenses surrounding the Çöpler Gold Mine span across a 17 km by 25 km area. The exploration licenses are managed under two separate joint ventures ("JV"). Alacer owns 80% of the licenses adjacent to Çöpler Mine under the Anagold Madencilik Sanayi ve Ticaret A.S. ("Anagold") JV and 50% of the remaining licenses in the Çöpler District under the Kartaltepe JV, both in partnership with Lidya Madencilik Sanayi ve Ticaret A.S. ("Lidya Mining").

Çöpler District images accompanying this release are available at http://resource.globenewswire.com/Resource/Download/6773b538-16c0-49a5-a758-d6cfc141c3f9

The Mineral Resource estimate for the Çakmaktepe Project has pit shells optimized within 4 zones of mineralization that comprise the Çakmaktepe deposit (Çakmaktepe North, Central, East and Southeast) as well as the Bayramdere deposit. The open pit shells are located within 5 km to 7 km of the existing Çöpler Mine infrastructure. The mineralization is contained within a network of fault and shear structures and is hosted within multiple lithologies. The mineralization style is similar to the Çöpler deposit and will be processed through the existing infrastructure at the Çöpler Mine.

Technical information related to the Mineral Resource and Reserve estimate, including the drilling techniques, can be found in the Appendices of this press release. To view the complete drill assay results referenced in this press release, please visit the follow link:  http://www.alacergold.com/docs/default-source/news-wire-documents/supporting-information-for-alacer-gold-exploration-announcement.pdf?status=Temp&sfvrsn=0.9862888356081239

Metal price assumptions used in the Mineral Resource estimate are $1,400 per ounce of gold and $19 per ounce for silver. Metal price assumptions used in the Mineral Reserve estimate are $1,250 per ounce of gold and $17 per ounce for silver. Both the Mineral Resource and Reserve estimates assume a $1.40/tonne mined mining cost and processing costs ranging from $7.56/ore tonne to $9.28/ore tonne. Mineral Resource cutoff grades range from 0.35 to 0.50 g/t. Mineral Reserve cutoff grades range from 0.40 to 0.55 g/t.

The Çakmaktepe North and Central deposit is located on the 50% Alacer-owned (Kartaltepe) tenement. The northern mineralization is structurally confined to a major sub-vertical shear zone. Oxide mineralization is predominantly characterized by silica-iron-carbonate rich ‘jasperoid‘, less siliceous iron rich gossan, and epithermal veined and brecciated limestone. Mineralization is not solely contained within the shear zone, also occurring along flat thrust structures and lithological contacts cut by the shear zone. Contacts between ophiolite and limestone, limestone and hornfels, as well as all lithologies in contact with intrusive granodiorite sills and dykes are generally mineralized.

• The North deposit is confined to two major NW-SE trending fault zones. The western fault, Çakmaktepe Fault, delineates the western extent of Çakmaktepe North and separates it from the Çakmaktepe ophiolitic units. The fault has a dominant dextral component.
• The shear fault controls the north deposit at the west and separates the mineralization from ophiolite.
• The thrust fault delineates the eastern extent of Çakmaktepe Central and East deposit and separates them from the Çakmaktepe ophiolitic units.
• The listwanite horizon is the most favorable host rock for Au. Listwanite formed by the pre-mineral CO₂ metasomatism of ultramafic rocks forms a critical and reactive host rock in the Çakmaktepe prospect.
• Granodiorite intrusions show evidence of hydrothermal activity which either takes the form of massive Fe-dominated replacement (magnetite-specular hematite or pyrite) or sheeted crystalline quartz veins bearing jasperoids closer to granodiorite contacts. 

An image of Çakmaktepe North and Central Mineral Resource Shells accompanying this release is available at http://resource.globenewswire.com/Resource/Download/efc8a885-0a49-4fa9-be91-c6ed30aeddca

A majority of the mineralization within the Ҫakmaktepe North pit boundary is steeply dipping and extends to a depth of nearly 180 meters. The high gold grades along this trend and the local topography result in a high strip-ratio for an open pit design. Conversely, the mineralization within the Ҫakmaktepe Central pit boundary is found at much shallower depths and is oriented nearly horizontal. This orientation results in a lower strip-ratio pit with favorable conditions for rapid ore extraction and minimal pre-strip. The mine plan considers mining in the lower strip-ratio pit first.

The Çakmaktepe East deposit is on the 50% Alacer-owned (Kartaltepe) tenement area and is a gold-copper deposit with mineralization occurring near surface in stacked iron rich gossans and associated oxidized host rocks. Most of mineralization occurs along the contacts of diorite and shear zone between ophiolites and calc-hornfels with the highest grades in proximity to diorite contacts. The Çakmaktepe East zone is now considered to be fully defined to a depth of 100m below surface.

An image of the Çakmaktepe East Resource Pit Outline accompanying this release is available at http://resource.globenewswire.com/Resource/Download/fca657f2-13b4-49ba-928e-96d00527465c

The Çakmaktepe Southeast deposit is on an 80% Alacer-owned (Anagold) tenement and is characterized by gold-copper-silver mineralization, mainly hosted within iron rich gossans and altered wall rocks developed along shallow dipping contacts between diorite, ophiolite and limestone lithologies. Mineralization is from surface to a depth of 50m. The zone was fully defined by resource drilling in 2015 upon which 2017 Mineral Resource estimates are based.

An image of the Çakmaktepe Southeast Resource accompanying this release is available at http://resource.globenewswire.com/Resource/Download/b9b89c98-f8d9-4132-89b6-be4e94ee37ce

The Bayramdere deposit is on the 50% Alacer-owned (Kartaltepe) tenement area and is an oxide gold and copper deposit. Mineralization is localized within three stacked shallow dipping lodes. The mineralization has formed at the contacts of limestone and ophiolite lithologies with mineralization replacing limestone along the contacts. The limestone / ophiolite contacts are low-angle thrusts, with limestone typically being trapped as wedges of material within a dominantly ophiolite stratigraphy. Mineralization occurs within iron rich gossan horizons. Although a small deposit, Bayramdere is higher-grade and can support a high strip-ratio to access mineralization. A total of 10,709 m of drilling for Bayramdere was included into the Mineral Resource estimate, inclusive of metallurgical and geotechnical holes.

An image of the Bayramdere Resource Pit Outline accompanying this release is available at http://resource.globenewswire.com/Resource/Download/678628bd-781c-45a8-bd86-ec4979600214

Further discovery potential at Çakmaktepe has been improved through the southernmost holes at Çakmaktepe Central. Given the position of the mineralization between Çakmaktepe North, East and Central mineralized zones, a broad-scale intrusive complex may be responsible for the mineralized dykes, sills and fluids associated with mineralizing and/or the high-grading of these deposits. The size and full extent of the epithermal system is not known as the surface expression is masked by meters of ophiolite scree. There is potential through:

An updated Environmental Impact Assessment (EIA) for production has been submitted to the Ministry of Environment. All permit requirements other than the EIA and Operating Permits have been obtained for the areas not requiring a Pasture Permit. A Pasture land mining permit has been filed and approval is pending. Construction of the haul road from the Çakmaktepe pits to the Çöpler Mine infrastructure continues with most of the road completed. The haul road is expected to cost approximately $2 million.

Alacer is a leading intermediate gold mining company, with an 80% interest in the world-class Çöpler Gold Mine in Turkey operated by Anagold Madencilik Sanayi ve Ticaret A.S. ("Anagold"), and the remaining 20% owned by Lidya Madencilik Sanayi ve Ticaret A.S. ("Lidya Mining"). The Corporation's primary focus is to leverage its cornerstone Çöpler Mine and strong balance sheet to maximize portfolio value and free cash flow, minimize project risk, and therefore, create maximum value for shareholders. The Çöpler Mine is in east-central Turkey in the Erzincan Province, approximately 1,100 kilometers southeast from Istanbul and 550 kilometers east from Ankara, Turkey's capital city.

• Çöpler Oxide Production Optimization – Expansion of the existing heap leach pad capacity to 58 million tonnes continues. The Corporation continues to evaluate opportunities to extend oxide production beyond the current reserves, including a new heap leach pad site to the west of the Çöpler Mine.  
    
• Çöpler Sulfide Expansion Project (the "Sulfide Project") – The Sulfide Project construction is more than 60% complete, under budget, and on schedule for first gold production in the third quarter 2018. The Sulfide Project is expected to deliver long-term growth with robust financial returns and adds 20 years of production at Çöpler. The Sulfide Project will bring Çöpler's remaining life-of-mine ("LoM") gold production to 4 million ounces at All-in Sustaining Costs averaging $645 per ounce^{2, 3}.  
    
• The Corporation continues to pursue opportunities to further expand its current operating base to become a sustainable multi-mine producer with a focus on Turkey. The systematic and focused exploration efforts in the Çöpler District, as well as in other regions of Turkey, are progressing. An updated Mineral Resource and maiden Mineral Reserve estimate was released for Çakmaktepe and Bayramdere⁴, and the Çöpler District remains the focus with the potential to add oxide production in 2018 utilizing the existing Çöpler infrastructure. In the region, work has commenced on a Definitive Feasibility Study ("DFS") for the Gediktepe Project⁵ and is expected to be complete in June 2018.

Certain statements contained in this document constitute "forward-looking information", "future oriented financial information" or "financial outlooks" (collectively, "forward looking information") within the meaning of applicable securities laws. Forward-looking information often relates to statements concerning Alacer's outlook and anticipated events or results, and in some cases, can be identified by terminology such as "may," "will," "could," "should," "expect," "plan," "anticipate," "believe," "intend," "estimate," "projects," "predict," "potential," "continue" or other similar expressions concerning matters that are not historical facts.

Forward-looking information includes statements concerning, among other things, production, cost, and capital expenditure guidance; the results of any gold reconciliations; matters relating to proposed exploration; communications with local stakeholders; maintaining community and government relations; negotiations of joint ventures; negotiation and completion of transactions; commodity prices; mineral resources, mineral reserves, realization of mineral reserves, and the existence or realization of mineral resource estimates; the timing and amount of future production; the timing of studies, announcements, and analysis; the timing of construction and development of proposed mines and process facilities; capital and operating expenditures; economic conditions; availability of sufficient financing; exploration plans; receipt of regulatory approvals; and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, regulatory, and political matters that may influence or be influenced by future events or conditions.

Such forward-looking information and statements are based on a number of material factors and assumptions, including, but not limited in any manner to, those disclosed in any of Alacer's other public filings, and include the inherent speculative nature of exploration results; the ability to explore; communications with local stakeholders; maintaining community and governmental relations; status of negotiations of joint ventures; weather conditions at Alacer's operations; commodity prices; the ultimate determination of and realization of mineral reserves; existence or realization of mineral resources; the development approach; availability and receipt of required approvals, titles, licenses and permits; sufficient working capital to develop and operate the mines and implement development plans; access to adequate services and supplies; foreign currency exchange rates; interest rates; access to capital markets and associated cost of funds; availability of a qualified work force; ability to negotiate, finalize, and execute relevant agreements; lack of social opposition to the mines or facilities; lack of legal challenges with respect to the property of Alacer; the timing and amount of future production; the ability to meet production, cost, and capital expenditure targets; timing and ability to produce studies and analyses; capital and operating expenditures; economic conditions; availability of sufficient financing; the ultimate ability to mine, process, and sell mineral products on economically favorable terms; and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, geopolitical, regulatory and political factors that may influence future events or conditions. While we consider these factors and assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.

You should not place undue reliance on forward-looking information and statements. Forward-looking information and statements are only predictions based on our current expectations and our projections about future events. Actual results may vary from such forward-looking information for a variety of reasons including, but not limited to, risks and uncertainties disclosed in Alacer's Annual Information Form and other public filings, as well as other unforeseen events or circumstances.

Mineral Resource and Mineral Reserve estimates referenced in this announcement are estimated in accordance with CIM guidelines as incorporated into NI 43-101, and the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. While terms associated with various categories of "Mineral Resource" or "Mineral Reserve" are recognized and required by Canadian regulations, they may not have equivalent meanings in other jurisdictions outside Canada and no comparison should be made or inferred. Actual recoveries of mineral products may differ from those estimated in the Mineral Resources and Mineral Reserves due to inherent uncertainties in acceptable estimating techniques. In particular, Inferred Mineral Resources have a great amount of uncertainty as to their existence, economic and legal feasibility. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. Investors are cautioned not to assume that all or any part of the Mineral Resources will ever be converted into Mineral Reserves.

The Mineral Resource disclosed in this announcement was estimated and approved by Mr. Loren Ligocki, SME Registered Member, and Resource Geology Manager at Alacer Gold Corp. Mr. Ligocki has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity which is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and is a Qualified Person pursuant to NI 43-101.

The Mineral Reserves disclosure in this announcement was estimated and approved by Mr. Stephen K. Statham, SME Registered Member, Alacer's Mining Services Manager, who is a full-time employee of Alacer. The information in this announcement which relates to Mineral Reserves is based on, and fairly represents, the information and supporting documentation prepared by Mr. Statham. Mr. Statham has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and is a Qualified Person pursuant to NI 43-101.

The Çakmaktepe and Bayramdere deposits are structurally controlled gold + minor copper + minor silver deposits displaying both epithermal and replacement mineralization styles. The deposits at this stage of exploration are dominantly represented by near surface oxide mineralization to a depth of up to 180m below surface. Mineralization is primarily associated with jasperoid (silica-carbonate-iron rich altered protolith) and iron rich gossan. Secondary pyrite is a commonly visible component within jasperoids.

Within the Çakmaktepe Mineral Resource and Reserve, steep dipping shear hosted mineralization is characterized by Çakmaktepe North, whereas flatter early stage thrust related mineralization is characterized by the Çakmaktepe East, Southeast and Central deposits. The Bayramdere deposit is also associated with flat thrust structures. Key to each structurally associated style of mineralization is the juxtaposition of ophiolites against limestone + hornfels to create the right geochemical conditions for gold and other metals deposition. Ophiolite as a lithology is not associated with mineralization at Çöpler, this association at present is unique to Çakmaktepe and Bayramdere.

Exploration drilling and sampling at Çakmaktepe utilized surface HQ and HQ3 triple-tube diamond core drilling and 5 ¼ inch diameter RC drilling with face sampling hammer. Reverse circulation cuttings were sampled on 1.0m intervals and core was sampled systematically in 1.0m lengths as sawn half core in competent ground or hand split if in clay or broken fault zones. For full diamond cored holes, PQ precollars were used to ensure successful penetration of broken near surface ground conditions, maximize core recovery and to maintain a straight hole profile. PQ precollars when used ranged in down-hole depth from 50m to 90m. RC precollar drilling up to depths of 220m was also utilized with diamond core tails completing holes from the base of precollars.

RC samples each weighing 3-5kg and diamond half-core samples weighing 4-5kg each are transported to the SGS Ankara laboratory for sample preparation and analysis. Samples are sorted, weighed on receipt, dried, reweighed and moisture content determined. Crushing and grind size checks are completed at all stages of sample reduction (crushed to better than 70% passing <2mm and pulverized better than 85% passing <75 µm. Samples are passed through a riffle split to create 1kg sub-samples. The 1kg sub-samples are further split to 250g and fire assayed using a 30g charge. Samples having gold values >10g/t are reassayed with a gravimetric finish. A 36-element whole rock analysis using a four-acid digest and ICP-ME (OES) finish is completed for all Çakmaktepe samples. Over-limit precious and base metals are reanalyzed by AAS. All samples are analyzed for Total Carbon and Sulphur. Where applicable, sulfide sulphur analysis by aqua regia and NaCO3 analysis is completed where samples return total sulphur values >2%.

External reviews of data and processes relating to these prospects were completed during previous model updates by independent Resource Consultant Paul Gribble (Geologica UK), Cube Consulting (Perth), and Data Revolution (Perth). Mineral Consultancy (Ankara) reviewed the data for the 2017 resource estimate. None of the verification performed in support of the resource identified material issues with the supporting data. The data in the database are sufficiently validated to support Mineral Resource estimation.

For all areas reported within the 2017 Mineral Resource (Çakmaktepe North, Çakmaktepe Central, Çakmaktepe East, Çakmaktepe Southeast and Bayramdere), the geological interpretation and modelling was followed by creation of mineralized domains based on the continuity of the geology and mineralization identified specific to each deposit and mineralized zone within the deposit. Separate domains were created for gold, silver, copper, and sulfur. In the creation of mineralized domains, a minimum mining width of 2.5m was used based on anticipated open pit mining methods.

Depending on deposit, drill hole spacing for support of classification of Inferred Mineral Resources varied between 25m by 50m to 20m by 20m spacing. For Indicated Mineral Resource classification, the drill hole spacing reduced to 15m by 15m spacing up to 20m by 20m spacing depending on the deposit. Appropriate drill hole pattern spacing selection was based on the understanding of the nature of the mineralization being structurally controlled, mineral continuity and assessment of data quality.

Oxide ore will be processed via heap leaching at the Çöpler Heap Leach Facility in the same manner as Çöpler oxide ore is currently processed. Ore will be transported via truck from stockpiles at the Ҫakmaktepe deposit and delivered to the oxide ore crusher at Çöpler. The Çakmaktepe ores are of similar nature to ores processed at the Çöpler Heap Leach Operation and are to be processed at that facility. 27 Intermittent Bottle Roll Tests (IBRT's) and 7 column tests were completed with gold and silver extractions projected based on discounted column test results and considering consistency of results in the rock type IBRT's. Normally a 3% discount was applied to final column results. Oxide ore recoverable ounces are estimated with recoveries ranging from 59% to 80%.

For Ore Reserves, estimation cut-off grades for oxide ore are calculated based on positive cash flow generation. A calculated gold internal cut-off grade within the design pit was applied to the oxide Ore Reserves using the equation: Xc = Po / (r * (V-R)) where Xc = Cut-off Grade (g/t), Po = Processing Cost of Ore (USD/tonne of ore), r = Recovery, V = Gold Sell Price (USD/gram), R = Refining Costs (USD/gram). This results in a variable oxide cut-off grade of 0.40 to 0.55 g/t.