November 9, 2017, Vancouver, BC – Alio Gold Inc. (TSX, NYSE AMERICAN: ALO) (“Alio Gold” or the “Company”), today reported its third quarter 2017 results. Production results were previously released on October 5, 2017. The Company will host a conference call at 11:00am ET today to discuss the results and the details of the call can be found at the end of the release.
Third Quarter Highlights and Recent Developments
- Gold production of 19,429 ounces at an all-in sustaining cost1 (“AISC”) of $1,104 per ounce.
- Completed bought deal equity financing of C$50.4 million.
- Received formal Change of Land Use Permit at Ana Paula Project (“Ana Paula”).
- Advanced underground decline at Ana Paula:
- Permit approved
- Contracts awarded
- Underground exploration program to start mid-2018
- Initiated surface exploration program targeting a zone north of the proposed pit at Ana Paula.
- Drill results from first two twinned holes at Ana Paula confirm the presence of high-grade mineralization and the lithology of the previous drilling.
- Received C$3.5 million in warrant exercise proceeds and exercised a buy-back right from Goldcorp of a 1% net smelter royalty (“NSR”) on Ana Paula for US$2.9 million.