ALACER GOLD ANNOUNCES MANAGEMENT TEAM February 23, 2011, Toronto: Alacer Gold Corp (“Alacer” or the “Corporation”) [TSX: ASR] is pleased to announce the Corporation’s new management team. In determining the organizational structure for Alacer, focus was placed on ensuring the continued efficient management of its operations while delivering on the organic and strategic growth opportunities presented before the Corporation. The result is a matrix type organization where technical expertise is functionally organized to ensure best practices and coordination across the Corporation while simultaneously ensuring a solid service relationship with Alacer’s operating units to secure maximum value from its assets. The organizational chart for Alacer’s senior leadership is illustrated below along with short management biography on each executive. Edward Dowling, CEO of Alacer stated, "Alacer is fortunate to draw from the deep pool of management skills and experience provided by its predecessor companies. The leadership team assembled is comparable to the best in the industry and has a proven track record of success. Alacer is well positioned to create value as a leading intermediate gold producer and to deliver on future growth.” Page 1 of 5 Edward Dowling – Chief Executive Officer BSc, MSc, PhD Mr. Dowling joined Alacer (formerly Anatolia Minerals) in early 2008 after a successful tenure as CEO and President of Meridian Gold Inc. Mr. Dowling has 30 years of mining experience in various leadership capacities. Mr. Dowling is recognized in the industry for his ability to assemble and motivate teams of people to tackle and deliver challenging projects for creation of long-term value. Grant Dyker – Executive Vice President, Finance BBus, ACA Mr. Dyker was Avoca Resources’ Chief Financial Officer since July 2007 and is a Chartered Accountant with more than 18 years experience. Having started within the accounting profession at KPMG he has since held senior finance roles in ASX listed manufacturing and mining companies. His last role was Chief Financial Officer for Aztec Resources Limited (Koolan Island project) in which he was instrumental in establishing the project finance facilities for the development of the project as well as implementing the group’s cost control systems. Tony James – Executive Vice President, Projects BEng(Mining), AWASM, AusIMM Mr. James is responsible for bringing the Trident underground project into production. He is a Mining Engineer with over 25 years of extensive operational and project experience in the mining industry. He was previously General Manager, Mining for LionOre Australian Operations and the Resident Manager of the Black Swan Nickel Mine near Kalgoorlie for MPI Mines. Other positions held include Manager-Mining at the Kanowna Belle Gold Operations for Aurion Gold and Delta Gold, Mining Manager at the Pillara and Cadjebut Zinc mines for Western Metals and Underground Superintendent at the Telfer gold mine for Newcrest Mining Ltd. Mr. James is a member of the Australian Institute of Mining and Metallurgy. Chris Newman – Executive Vice President, Exploration BSc (Hons) Mr. Newman has over 20 years experience in open pit and underground operations, resource development and exploration. He is credited with Avoca's Trident Gold Discovery in Western Australia in 2004. He was also instrumental in unlocking the mineral potential of the Meliadine Gold Project in Northern Canada and has had significant additional exploration successes at both St Ives and Boddington in Western Australia. Mr. Newman is a Member of the Australasian Institute of Mining and Metallurgy and an Accredited Black Belt in the Six Sigma Business Improvement Methodology. Jennifer Rezos – General Counsel BA (Hons), LLB (Hons) Ms. Rezos has over 15 years’ experience as a lawyer in corporate and commercial advisory roles. Ms. Rezos commenced her career at Blake Dawson, a major Australian law firm. In the course of her career, Ms. Rezos has gained significant experience as in-house counsel for various companies in the resources, health, and financial services industries, including as General Counsel of Page 2 of 5 Challenger Financial Services Group Limited, an investment management firm that currently forms part of the ASX100. Ms. Rezos has provided legal advice and services to Avoca Resources since August 2007 and from March 2010 was employed as General Counsel. Louw Smith – Chief Operating Officer BSc (Hons), BCom, MSc Mining (Mineral Economics), EMBA, AusIMM Mr. Smith has a career spanning 20 years in the mining industry in various roles related to exploration, project management and mine management. He was responsible for the integration and development of Dioro Exploration, an acquisition completed by Avoca Resources in February 2010. Prior to joining Avoca, Louw was General Manager for St Ives Gold Mine in Australia. Other roles include General Manager of Damang Gold Mine in Ghana, Mineral Resources Manager for Agnew Gold Mine, Project Manager Geology for the Arctic Platinum Project in Finland, Technical Services Manager for the Chelopech Mine in Bulgaria and Chief Geologist responsible for the start- up and development for Tarkwa Mine in Ghana. Mr. Smith is a member of the Australian Institute of Mining and Metallurgy. Howard Stevenson – Executive Vice President, Corporate Development BA, BAI (Mech Eng, Hons), MBA Mr. Stevenson has over 20 years of experience in engineering, operations, mineral economics, financial evaluation and mergers and acquisitions, 18 years of which were spent with Gold Fields working on projects around the world. With Gold Fields, Mr. Stevenson held positions including Vice President, Business Development for Gold Fields Exploration Inc. in Colorado, Managing Director of Gold Fields Finland Oy and General Manager of the Arctic Platinum project. When Gold Fields acquired Bolivar Gold Corporation in March 2006, he was appointed VP, Venezuelan Operations. In February 2007 Mr. Stevenson joined Meridian Gold Company as VP of Business Development. Mr. Stevenson joined Alacer (formerly Anatolia Minerals) in June 2009 as VP Corporate Development and was promoted to COO in December 2009. Douglas Tobler – Chief Financial Officer BSc (Business Administration) Mr. Tobler has nearly 30 years of finance and accounting experience as a public accountant, chief financial officer and independent advisor. He was a certified public accountant, primarily with Coopers & Lybrand, where he provided audit and advisory services to a number of mining and energy-related clients including Anaconda Minerals, AMAX and Basin Electric Power Cooperative. He also served as an accounting fellow in C&L's national office in New York where his responsibilities included accounting research, monitoring developments of the Financial Accounting Standards Board and developing practice guides. He was later CFO of General Minerals Corp. and several technology companies. Prior to joining Alacer (formerly Anatolia Minerals) in 2004, Mr. Tobler was president and founder of Falcon Strategic Partners where he provided advisory services to a number of mining, oil & gas, distribution and technology companies. Page 3 of 5 Rohan Williams – Chief Strategic Officer BSc (Hons), MAIMM Mr. Williams was Avoca Resources' founding CEO and Managing Director overseeing its growth from a A$7 million IPO in 2002 through to a A$1 billion ASX200 company at the time of the merger with Anatolia Minerals in 2011. He has over 23 years of experience having worked in exploration, mining, corporate development and company management for the last 10 years. About Alacer Alacer is a leading intermediate gold company with operations in both Australia and Turkey. Australia There are three operating gold mines in Australia, namely the Higginsville and South Kalgoorlie operations, and a 49% interest the Frog's Leg underground mine. The South Kalgoorlie operations and its interest in Frog's Leg were acquired following the successful takeover of Dioro Exploration NL, which was completed in March 2010. In the financial year ended June 2010, Avoca produced 230,000 ounces of gold of which 183,000 ounces were produced at Higginsville at A$503 (excluding royalties) with the balance produced at South Kalgoorlie which included the 49% interest in Frog's Leg. The Australian operations are targeting 280,000 ounces of gold at cash costs of A$540/oz in the financial year to June 2011 and 300,000 in 2013. 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 1.3 million 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 of the oxide and sulfide gold resource is expected at Çöpler by continuing exploitation of the large resource and through on-going technical studies and future development. In addition, Alacer holds a significant pipeline of prospective gold and base metal projects. For more information please contact Edward Dowling, President and CEO, or Douglas Tobler, CFO at (303) 292-1299 or visit www.alacergold.com. Forward-Looking Information Except for statements of historical fact relating to Alacer, certain statements contained in this presentation constitute forward-looking