Alacer Gold files second quarter financial results and the related management discussion and analysis

TORONTO, Aug. 15, 2011 /CNW/ --
TORONTO, Aug. 15, 2011 /CNW/ - Alacer Gold Corp ('Alacer' or the 'Corporation') [TSX: ASR and ASX: AQG] today filed its second quarter 2011 financial results and related
management discussion and analysis ('MD&A'). The complete financial statements and MD&A can be found on our
website at www.AlacerGold.com and on www.SEDAR.com.

Mr. Edward Dowling, CEO of Alacer stated, 'Alacer Gold successfully
completed its first full quarter of business as a new company. With
safe gold production exceeding 100,000 ounces in the second quarter,
the company is well on the way toward achieving its annual production
and cost guidance. In addition, significant progress was made with the
Company's growth and development projects, supported by exploration
success, thereby setting the stage to double our annual gold production
rates in 2015.'

Edward Dowling will host two conference calls on Monday, August 15
(North America) and Tuesday, August 16 (Australia). A copy of the
conference call presentation is available on our website.

The first call for the North American markets will take place on Monday,
August 15 at 5:00 p.m. (North American Eastern Daylight Time). To
participate in the conference call, please dial

1-877-604-9673  for U.S. and Canada

1-719-325-4880  for International

8905414         Conference ID

The second call for Australian and Asian markets will take place on
Monday, August 15 at 9:00 pm (North American Eastern Daylight Time) or
Tuesday, August 16 at 11:00 am (Australian Eastern Standard Time). To
participate in the second conference call, please dial

1-800-063869     Australia

1-866-830-1117   USA

0800-032-4417    United Kingdom

800-6161-919     Singapore

800 968665       Hong Kong

  617-30318354   All other countries

11061794         Conference ID (Reservation Number)

A recording of the North American call will be available on Alacer's
website at www.AlacerGold.com or through replay until August 31, 2011 by calling:

1-888-203-1112  for U.S. and Canada

1-719-457-0820  for International

8905414         Replay Passcode

A recording of the Australian call will be available through replay
until August 31, 2011 by calling:

1-800-060851        for Australia

 -613-862-83800     for International

502165#             Master Number

11061794#           Conference Number

About Alacer

Alacer is a leading intermediate gold company with operations in both
Australia and Turkey.

Australia


Alacer has three operating gold mines in Australia, namely the
Higginsville and South Kalgoorlie operations; and a 49% interest in the
Frog's Leg underground mine. The South Kalgoorlie operations and the
Frog's Leg interest were acquired following the successful takeover of
Dioro Exploration NL, which was completed in March 2010. The Australian
operations are targeting 280,000 ounces of gold in 2011.

Turkey


Alacer is recognized as a leader in exploration and development in
Turkey and, with the start-up of Çöpler, will soon be among Turkey's
leading gold producers. Çöpler is 95% owned by Alacer and 5% by Lidya
Mining (formerly known as Çalık Mining, see Anatolia News Release,
August 13, 2009). Initial plans at Çöpler are to produce approximately
1.42 million leachable ounces of gold at costs consistent with the
lower end of industry standards. Average annual production is expected
to be about 175,000 gold ounces. Additional production expansion from
the sulfide gold reserve is expected to add 2.25 million ounces. A
detailed feasibility study is underway. In addition, Alacer holds a
significant pipeline of prospective gold and base metal projects.

Alacer Gold currently has 277.7 million common shares issued and
outstanding, 297.1 million fully diluted.

Cautionary Statements

Certain statements contained in this news release constitute
forward-looking information, future oriented financial information, or
financial outlooks (collectively 'forward-looking information') within
the meaning of Canadian securities laws. Forward-looking information
may relate to this news release and other matters identified in
Alacer's public filings, Alacer's future 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 and include, but are not limited in any manner to,
those with respect to proposed exploration, communications with local
stakeholders and community relations, status of negotiations of joint
ventures, commodity prices, mineral resources, mineral reserves,
realization of mineral reserves, existence or realization of mineral
resource estimates, the timing and amount of future production, the
timing of construction of proposed mine and process facilities, capital
and operating expenditures, economic conditions, availability of
sufficient financing, exploration plans and any and all other timing,
exploration, development, operational, financial, economic, legal,
social, regulatory, political factors that may influence future events
or conditions. Such forward-looking statements are based on a number of
material factors and assumptions, including, but not limited in any
manner, those disclosed in any other Alacer filings, and include
exploration results and the ability to explore, the ultimate
determination of mineral reserves, availability and final receipt of
required approvals, titles, licenses and permits, sufficient working
capital to develop and operate the proposed mine, access to adequate
services and supplies, commodity prices, 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 mine, lack of legal challenges with respect to the property or the
Company and the ultimate ability to mine, process and sell mineral
products on economically favorable terms. While we consider these
assumptions to be reasonable based on information currently available
to us, they may prove to be incorrect. Actual results may vary from
such forward-looking information for a variety of reasons, including
but not limited to risks and uncertainties disclosed in other Alacer
filings at www.sedar.com and other unforeseen events or circumstances.
Other than as required by law, Alacer does not intend, and undertakes
no obligation to update any forward-looking information to reflect,
among other things, new information or future events.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/August2011/15/c3851.html

Edward Dowling, President and CEO, or Douglas Tobler, CFO at (303) 292-1299 or visit www.alacergold.com