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  • 1.Ready, Set, GoMarketing Presentation January 15-20, 2014 TSX: AUQ / NYSE: AUQ

2. FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements and forward-looking information as defined under Canadian and U.S. securities laws. All statements, other than statements of historical fact, are forward-looking statements. The words "expect", "believe", "anticipate", "will", "intend", "estimate", "forecast", "budget" and similar expressions identify forward-looking statements. Forward-looking statements include information as to strategy, plans or future financial or operating performance, such as the Companys expansion plans, project timelines, production plans, projected cash flows or capital expenditures, cost estimates, projected exploration results, reserve and resource estimates and other statements that express managements expectations or estimates of future performance. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently subject to significant uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, including: uncertainty of production and cost estimates; fluctuations in the price of gold and foreign exchange rates; the uncertainty of replacing depleted reserves; the risk that the Young-Davidson shaft will not perform as planned; the risk that mining operations do not meet expectations; the risk that projects will not be developed accordingly to budgets or timelines, changes in laws in Canada, Mexico and other jurisdictions in which the Company may carry on business; risks of obtaining necessary licenses, permits or approvals for operations or projects such as Kemess; disputes over title to properties; the speculative nature of mineral exploration and development; risks related to aboriginal title claims; compliance risks with respect to current and future environmental regulations; disruptions affecting operations; opportunities that may be pursued by the Company; employee relations; availability and costs of mining inputs and labor; the ability to secure capital to execute business plans; volatility of the Companys share price; continuation of the dividend and dividend reinvestment plan; the effect of future financings; litigation; risk of loss due to sabotage and civil disturbances; the values of assets and liabilities based on projected future cash flows; risks arising from derivative instruments or the absence of hedging; adequacy of internal control over financial reporting; changes in credit rating; and the impact of inflation. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained herein. Such statements are based on a number of assumptions which may prove to be incorrect, including assumptions about: business and economic conditions; commodity prices and the price of key inputs such as labour, fuel and electricity; credit market conditions and conditions in financial markets generally; revenue and cash flow estimates, production levels, development schedules and the associated costs; ability to procure equipment and supplies and on a timely basis; the timing of the receipt of permits and other approvals for projects and operations; the ability to attract and retain skilled employees and contractors for the operations; the accuracy of reserve and resource estimates; the impact of changes in currency exchange rates on costs and results; interest rates; taxation; and ongoing relations with employees and business partners. 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. Inferred resources have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred resource will ever be upgraded to a higher category. 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 3. Positioned For Value Creation Politically-friendly jurisdictionTwo core high-quality mining assetsOrganic year over year production growthLower end of industry cost curveLong mine lifeStrong balance sheetPure gold leverageCapital return to shareholders (regular dividends) 3 4. Quality North American Asset Base Streamlined Asset Base on the Lower End of the Industry Cost Curve $1,895Cash cost curve (US$/oz)2011 gold price range $1,319Young-DavidsonFosterville OcampoEl Cubo StawellEl ChanateCurrent AssetsDivested AssetsPercentile of total gold productionMonetized high-cost, non-core assets for proceeds of $1 Billion (2012)(1) (1) Refer to endnote #1.Source: 2011 Brook Hunt Data4 5. Robust Financial Position $290M in Liquidity (as of September 30, 2013)$329.6M Returned to Shareholders (as of October 31, 2013)Dividends $29.6MUndrawn Debt Facility $150MCash & Eq. $140M Share Buyback $300MFully Funded, Shareholder Value Creation Business Model5 6. Disciplined Growth Drives Shareholder Value Company-Wide Production Growth(6) 55,000 50,000Gold Ounces Produced45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0Q3 12Q4 12Q1 13Young-DavidsonQ2 13Q3 13Q4 13El ChanateSolid quarter over quarter production growth (6) Refer to endnote #6.6 7. Delivering Reliable and Sustainable Growth Q1Q2Q3Q4Year-end Dec. 31/132013 Guidance28,28129,25230,09933,106120,738120,000-140,000---$663$663-$694$716$666$983$757-$694$716$666$850$744$575-$67517,88918,75118,80416,42071,86470,000-80,000$563$602$588$615$592$550-$60046,17048,00348,90349,526192,601190,000-220,000$635$655$628$766$676$565-$645Young-Davidson Gold Ounces Produced3 Underground Cash Costs per oz. Open Pit Cash Costs per oz. Total Cash Costs per oz.1,2 El Chanate Gold Ounces Produced Total Cash Costs per oz.2 Consolidated Results Gold Ounces Produced3 Total Cash Costs per oz.1,21. Prior to commissioning the underground mine at Young-Davidson, cash costs were calculated on ounces produced from the open pit only. All underground costs were capitalized, and any revenue related tounderground ounces sold was credited against capital. Subsequent to the declaration of commercial production in the underground mine, cash costs are calculated on ounces produced from both the open pit and underground mines, and revenue related to the sale of underground ounces is recognized in the Companys Statement of Operations as revenue. 2. Cash costs are prior to inventory net realizable value adjustments & reversals, and are estimates only and subject to change. See the Non-GAAP Measures section on page 20 of the Managements Discussion and Analysis for the nine months ended September 30, 2013. Underground cash costs per ounce and open pit cash costs per ounce do not have a standardized meaning prescribed by International Financial Reporting Standards (IFRS or GAAP). They are therefore considered to be non-GAAP measures and may not be comparable to similar measures presented by other companies. Underground cash costs per ounce and open pit cash costs per ounce are determined by allocating production and refining costs to the underground and open pit tonnes mined and processed, and then dividing by the relevant ounces produced. 3. Includes pre-production gold ounces from the Young-Davidson underground mine prior to the declaration of commercial production in the underground mine on October 31, 2013.Sixth consecutive quarter of company-wide production growthWell positioned for continued company-wide production growth 7 8. Young-Davidson Gold MineStable and Growing Production Profile(6) Gold Ounces Produced35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 Q3 12 (6) Refer to endnote #6.Q4 12Q1 13Q2 13Q3 13Q4 138 9. Young-Davidson Mine Q4 201320132013E(4)33,106120,738120,000-140,000Underground Cash Costs per oz.$663$663Open Pit Cash Costs per oz.$983$757$850$744Production (gold ounces)(6)Cash Costs (per goldounce)(2)(3)Open Pit$575-$675P&P Reserves (oz.)(5) M&I Resources (oz.)(5)0.9 millionInferred Resources (oz.)(5)MCM shaft operational April/133.8 million1.3 millionU/G unit costs: approx. $39/t (Nov/Dec)2014 mine plan is 75% laterally accessed & 100% vertically accessed9890L9590LLow-cost producer & strong year-over-year production growth profile9400LLong mine life: further expansion as reserves increaseMid-Shaft Loading Pocket9200L NG ShaftMCM ShaftHighly productive, wide zones 8900L(2) Refer to endnote #2. (3) Refer to endnote #3. (4) Refer to endnote #4.(5) Refer to endnote #5. (6) Refer to endnote #6.9 10. Young-Davidson Productivity Annual Production Growth(6)Young-Davidson Milestones160,000U/G commercial production declared140,000Oct. 31/13U/G productivity (Q4) (Year-End target: 2,000 tpd)2,590 tpdU/G unit mining costs (target sub-$45/t)$39/t (Nov/Dec)Gold Oz.120,000 100,000 80,000 60,000 40,000Mill facility productivity (Q4) (nameplate 6,000 tpd)6,969 tpdCommissioned paste backfill plant20,000 -Dec. 31/13201220132014EYoung-Davidson ramping-up to be one of largest gol