GoldMinerPulse Report: AuRico Gold Inc. Metal Value

AuRico Gold Inc. (AUQ) NI 43-101 Metal Value Report

AuRico Gold (formerly Gammon Gold) is a mid-tier gold and silver producer with properties in Mexico. [Source: AuRico Gold website]

The AuRico Gold Inc. website is at www.auricogold.com.

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GoldMinerPulse Metrics Summary

This report is based on NI 43-101 resource and reserve disclosures and fully diluted share counts available on 2011-11-11.

The GoldMinerPulse metrics, presented below in table format, are based on all projects and all in situ metals and are updated daily with closing market prices.

**AuRico Gold Inc. Metric Summary**
General Metric	Value on 2012-02-03
In Situ Metal Value per Share (MVpSh)	US$196.09
Average Ore Value per Tonne	US$72.31
Metal Value Leverage (MVL)	20.39
Market Capitalization as a Percentage of Metal Value	4.9%
Recent Closing Stock Price	C$9.55 [note 1]
Fully Diluted Share Count	179.94 M [note 2]
Percentage In Situ Proven + Probable Reserve	26%
Percentage In Situ Measured + Indicated Resource	42%
Percentage In Situ Inferred Resource	32%

**Gold Specific Metrics**
Metric	Value on 2012-02-03
Gold Reserves + Resources	15.88 M oz
Average Gold Ore Grade	1.0 g/t
Market Capitalization per oz of Gold In Situ	US$108.96 ( C$108.22 )
Gold Equivalent Ounces Estimate	20.44 M oz
Market Capitalization per oz of Gold Equivalent	US$84.63 ( C$84.05 )

**Silver Specific Metrics**
Metric	Value on 2012-02-03
Silver Reserves + Resources	234.30 M oz
Average Silver Ore Grade	14.9 g/t
Market Capitalization per oz of Silver In Situ	US$7.38 ( C$7.33 )
Silver Equivalent Ounces Estimate	1.05 B oz
Market Capitalization per oz of Silver Equivalent	US$1.65 ( C$1.64 )

Note 1: Conversion rate used: 1 Cnd$ = 1.00682 US$
Note 2: September, 2011 financial statement.

GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE)

All metal counts in this section are based on the combined Proven + Probable reserves plus the Measured + Indicated and Inferred resources.

**Metal Summary Based on Closing Prices on 2012-02-03**
Metric / Metal	Gold	Silver
Total Counts (reserves + resources)	15.88 M oz	234.30 M oz
Metal Prices in US$ (from 2012-02-03)	$1,725.90 / oz	$33.63 / oz
Metal Value per Share (MVpSh) Shown in US$. Based on fully diluted share count	$152.30	$43.79
Percentage of Total Metal Value	77.67%	22.33%
Metal Value Percentage Proven + Probable	25%	31%
Metal Value Percentage Measured + Indicated	49%	17%
Metal Value Percentage Inferred	26%	52%

The above metal value totals derive from the following projects.

**Project/Deposit/Mine Summary Based on Closing Prices on 2012-02-03**
Project	Location	Metal Value per share (% total)	Average Ore Value US$/t	Gold	Silver	PP%	MI%	I%
Ocampo	Chihuahua,, Mexico	$44.79 ( 22.8% )	US$64.48	2.38 M oz	117.36 M oz	49%	9%	42%
Davidson-Young	Ontario, Canada	$32.70 ( 16.7% )	US$184.63	3.39 M oz	979.12 K oz	0	100%	0
Kemess	British Columbia, Canada	$30.66 ( 15.6% )	US$28.27	2.97 M oz	11.65 M oz	0	96%	4%
Fosterville	Victoria, Australia	$24.26 ( 12.4% )	US$178.13	2.53 M oz		22%	25%	52%
Guadalupe y Calvo	Chihuahua, Mexico	$18.84 ( 9.6% )	US$287.34	1.08 M oz	45.53 M oz	0	0	100%
El Cubo and Las Torres	Guanajuato, Mexico	$18.35 ( 9.4% )	US$307.62	992.97 K oz	47.23 M oz	36%	18%	46%
El Chanate	Sonora, Mexico	$16.53 ( 8.4% )	US$36.58	1.72 M oz		87%	4%	9%
Stawell	Victoria, Australia	$6.37 ( 3.3% )	US$182.72	664.63 K oz		40%	42%	17%
Del Norte	Nayarit, Mexico	$3.60 ( 1.8% )	US$502.25	149.64 K oz	11.56 M oz	0	92%	8%

PP%: percentage of metal value from Proven + Probable reserves
MI%: percentage of metal value from Measured + Indicated resources
I%: percentage of metal value from Inferred resources
Note: percentages may no add to 100% due to rounding errors

Davidson-Young

Latest NI43-101 Report: NI 43-101 Technical Report and Preliminary Feasibility Study on the Young-Davidson Property, Matachewan, Ontario
2009-08-27 (225 pages).

Project Location: Ontario, Canada.

Average Ore Value (all estimate types): US$184.63

Measured

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$3.86	402.58 K oz	3.950 g/t	3.17 M t
Silver	$0.01	71.34 K oz	0.700 g/t	3.17 M t

Estimate notes: See Table 20-1: December 2008 Mineral Resource Estimate Summary on p. 177 of 117 in the NI43-101 dated August, 2009.

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$26.05	2.72 M oz	3.560 g/t	23.73 M t
Silver	$0.17	907.78 K oz	1.190 g/t	23.73 M t

Estimate notes: Underground

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.60	270.82 K oz	1.700 g/t	4.96 M t

Estimate notes: Table 20-2: December 2008 Mineral Resource Estimates on p. 177 of 225 in the August, 2011 technical report.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.01	0.82 K oz	1.700 g/t	15.00 K t

Estimate notes: Total Open Pit Resource

Del Norte

Latest NI43-101 Report: NI 43-101 Preliminary Economic Assessment Nayarit Gold Inc. Orion Project, Animas/Del Norte Zone State of Nayarit, Mexico
2010-02-05 (250 pages).

Project Location: Nayarit, Mexico in the Sierra Madre Occidental mining region.

Average Ore Value (all estimate types): US$502.25

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.25	130.26 K oz	3.660 g/t	1.11 M t
Silver	$2.06	11.01 M oz	309.240 g/t	1.11 M t

Estimate notes: See Table 15.11.1: SRK Mineral Resource Statement for the Orion Gold-Silver Deposit, February 1, 2010 on p. 142 of 250 in the NI 43-101 dated February 2010. Quantities reported are from Total All Areas row of the table.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.19	19.38 K oz	3.330 g/t	181.00 K t
Silver	$0.10	550.04 K oz	94.520 g/t	181.00 K t

Estimate notes: See notes for Inferred.
cutOffNotes

El Chanate

Latest NI43-101 Report: El Chanate Project Sonora Mexico
2009-06-12 (82 pages).

Updates: CAPITAL GOLD INCREASES RESERVES AT ITS EL CHANATE MINE BY OVER 64%, October 13, 2009 news release.

Project Location: Sonora, Mexico.

Average Ore Value (all estimate types): US$36.58

Proven + Probable

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$14.36	1.50 M oz	0.660 g/t	70.56 M t

Estimate notes: See Table 1: Summary of El Chanate Proven and Probable Reserves (As of October 1st, 2009).
0.15 g/t Gold Cutoff

Measured + Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.66	69.11 K oz	0.466 g/t	4.61 M t

Estimate notes: See Summary of El Chanate Mineral Resources exclusive of Mineral Reserves (As of October 1, 2009).
Cutoff grade 0.12 Au g/t

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.50	156.81 K oz	0.795 g/t	6.14 M t

Estimate notes: See Measured + Indicated notes.

El Cubo and Las Torres

Latest NI43-101 Report: Gammon Gold Inc. Review of Resources and Reserves El Cubo Gold-Silver Mine Guanajuato, Mexico
2009-10-15 (90 pages).

Updates: Resources and Reserves webpage (viewed April 2011).

Project Location: Guanajuato, Mexico.

Average Ore Value (all estimate types): US$307.62

Proven + Probable

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$3.14	327.75 K oz	2.590 g/t	3.94 M t
Silver	$3.38	18.10 M oz	143.000 g/t	3.94 M t

Estimate notes:

Measured + Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.14	223.05 K oz	2.520 g/t	2.75 M t
Silver	$1.19	6.37 M oz	72.000 g/t	2.75 M t

Estimate notes:

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$4.24	442.17 K oz	3.400 g/t	4.05 M t
Silver	$4.25	22.76 M oz	175.000 g/t	4.05 M t

Estimate notes:

Fosterville

Latest NI43-101 Report:
( pages).

Updates: Northgate 2008 Annual Report.

Project Location: Victoria, Australia.

Average Ore Value (all estimate types): US$178.13

Proven + Probable

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$5.41	564.00 K oz	4.850 g/t	3.62 M t

Estimate notes:

Measured + Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$6.18	644.06 K oz	2.050 g/t	9.77 M t

Estimate notes:

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.42	148.06 K oz	1.700 g/t	2.71 M t

Estimate notes:
< 100m from surface

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$11.25	1.17 M oz	4.340 g/t	8.41 M t

Estimate notes:
> 100m from surface

Guadalupe y Calvo

Latest NI43-101 Report:
2002-11-25 ( pages).

Updates: See project webpage (viewed April 2011).

Technical information relating to the Guadalupe y Calvo property contained in this short form prospectus or contained in other documents incorporated by reference is based upon an independent technical report dated November 25, 2002 prepared by Pincock, Allen & Holt.

Project Location: Chihuahua, Mexico in the Sierra Madre Occidental mining region.

Average Ore Value (all estimate types): US$287.34

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$10.33	1.08 M oz	2.840 g/t	11.80 M t
Silver	$8.51	45.53 M oz	120.000 g/t	11.80 M t

Estimate notes: See January 15, 2003, Gammon Lake announces investment in Mexgold Resources Inc. available at Sedar.

Kemess

Latest NI43-101 Report: PRELIMINARY ECONOMIC ASSESSMENT OF THE KEMESS UNDERGROUND PROJECT BRITISH COLUMBIA, CANADA
2011-07-22 (117 pages).

Project Location: British Columbia, Canada in the editMiningRegionName mining region.

Average Ore Value (all estimate types): US$28.27

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$27.38	2.85 M oz	0.480 g/t	185.00 M t
Silver	$2.09	11.18 M oz	1.880 g/t	185.00 M t
Copper	$22.04	462.50 K t	2,500.000 g/t	185.00 M t

Estimate notes: See Table 1.1 Kemess Underground Mineral Resources (February 2011) on p. 7 of 117 in the NI43-101 dated July, 2011.
cutOffNotes

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.10	114.78 K oz	0.350 g/t	10.20 M t
Silver	$0.09	468.95 K oz	1.430 g/t	10.20 M t
Copper	$0.97	20.40 K t	2,000.000 g/t	10.20 M t

Estimate notes:

Ocampo

Latest NI43-101 Report: Gammon Gold Inc. Ocampo Mine Ocampo, Chihuahua State, Mexico, 2008 Technical Report on the Ocampo Mine
2009-10-12 (71 pages).

Updates: Resources and Reserves webpage (viewed April 2011).

Project Location: Chihuahua,, Mexico in the Sierra Madre Occidental mining region. View the Ocampo deposit on a Google Map.

Average Ore Value (all estimate types): US$64.48

Proven + Probable

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$11.99	1.25 M oz	0.560 g/t	69.42 M t
Silver	$10.01	53.56 M oz	24.000 g/t	69.42 M t

Measured + Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.16	224.79 K oz	0.200 g/t	34.96 M t
Silver	$1.89	10.12 M oz	9.000 g/t	34.96 M t

Estimate notes: See Table 2: Estimated Resources on January 1, 2009 on p. 9 of 71 in the NI 43-101 report dated October 2009.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$8.71	908.02 K oz	1.370 g/t	20.62 M t
Silver	$10.03	53.69 M oz	81.000 g/t	20.62 M t

Estimate notes: See Measured + Indicated notes.

Stawell

Latest NI43-101 Report:
( pages).

Updates: Northgate 2008 Annual Report.

Project Location: Victoria, Australia.

Average Ore Value (all estimate types): US$182.72

Proven + Probable

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.57	268.25 K oz	4.270 g/t	1.95 M t

Estimate notes:

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.70	281.17 K oz	2.460 g/t	3.56 M t

Estimate notes:

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.11	115.21 K oz	4.660 g/t	769.00 K t

Estimate notes:

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