Alamos Gold Continues to Extend High-Grade Gold Mineralization at Island Gold, Including within Hanging Wall and Footwall Zones in Proximity to Existing Infrastructure
ALAMOS GOLD INC.
Brookfield Place, 181 Bay Street, Suite 3910, P.O. Box #823
Toronto, Ontario, Canada M5J 2T3
Telephone: (416) 368-9932 or 1 (866) 788-8801
All amounts are in United States dollars, unless otherwise stated.
F O R I M M E D I A T E R E L E A S E
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Alamos Gold Continues to Extend High-Grade Gold Mineralization at Island Gold,
Including within Hanging Wall and Footwall Zones in Proximity to Existing
Infrastructure
Toronto, Ontario (June 15, 2023) – Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the
“Company”) today reported new results from underground exploration drilling at the Island Gold
mine, further extending high-grade gold mineralization across the Island Gold Deposit . This
included multiple significant high -grade intercepts within several recently defined hanging wall
and footwall structures in proximity to existing underground infrastructure. All reported drill widths
are true width of the mineralized zones, unless otherwise stated.
• Island West: high-grade mineralization exte nded outside of Mineral Reserves and
Resources within the main C-Zone. The C and E1E-Zones are the main structures which
host the majority of currently defined Mineral Reserves and Resources at Island Gold.
New highlights include:
• 146.33 g/t Au (37.19 g/t cut) over 2.20 m (580-473-22); and
• 38.92 g/t Au (38.92 g/t cut) over 2.10 m (790-479-16).
• Island West Hanging Wall Zones: high-grade gold mineralization intersected within sub-
parallel zones in the hanging wall, and within a newly defined perpendicular structure,
the “NS1” Zone. Multiple sub-parallel and perpendicular hanging wall zones have been
defined o ver the past year in proximity of existing underground infrastructure and
represent a significant opportunity to add near mine Mineral Reserves and Resources.
New highlights include:
NS1 Zone
• 89.31 g/t Au (7.73 g/t cut) over 2.40 m (770-466-03);
• 25.57 g/t Au (5.68 g/t cut) over 2.50 m (770-466-07);
• 42.27 g/t Au (7.43 g/t cut) over 2.30 m (580-473-26);
• 16.06 g/t Au (6.95 g/t cut) over 2.80 m (770-466-02); and
• 14.50 g/t Au (10.08 g/t cut) over 3.10 m (580-473-25).
G1 Zone
• 60.03 g/t Au (25.70 g/t cut) over 2.50 m (790-479-13); and
• 11.13 g/t Au (6.82 g/t cut) over 2.20 m (850-471-01B).
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• Island West Footwall Zones : high-grade gold mineralization intersected within newly
defined sub-parallel structure the “DN” zone. New highlight includes:
• 22.34 g/t Au (22.34 g/t cut) over 2.90 m (790-479-04).
• Island East: high-grade mineralization extended outside of Mineral Reserves and
Resources in the main E1E-Zone. New highlights include:
• 104.48 g/t Au (50.76 g/t cut) over 3.10 m (840-608-49);
• 40.54 g/t Au (33.33 g/t cut) over 2.50 m (840-608-43); and
• 11.93 g/t Au (11.93 g/t cut) over 4.20 m (840-632-17).
• Island East Footwall Zones : high -grade gold mineralization intersected within sub-
parallel zones in the footwall (NTH2, NTH3) in proximity to existing underground
infrastructure. New highlights include:
NTH2 Zone
• 44.48 g/t Au (9.71 g/t cut) over 3.10 m (620-629-03); and
• 17.91 g/t Au (5.34 g/t cut) over 2.10 m (620-629-01).
NTH3 Zone
• 12.34 g/t Au (7.65 g/t cut) over 3.30 m (840-554-44);
• 16.86 g/t Au (11.40 g/t cut) over 2.30 m (840-554-60);
• 13.21 g/t Au (13.21 g/t cut) over 2.70 m (840-554-04); and
• 11.02 g/t Au (7.29 g/t cut) over 2.30 m (840-566-08).
Note: Drillhole composite intervals reported as “cut” may include higher grade samples which have been cut to: C-zone
@ 225 g/t Au; E1E Zone @ 185 g/t Au. B Zone @ 90 g/t Au; D1 and G1 Zones @ 45 g/t Au; G Zone @ 70 g/t Au; E1D
@ 80g/t Au; DN, NS1, NTH1, NTH2, NTH3 @ 35 g/t Au .
“Our continued exploration success within recently defined sub -parallel structures demonstrate
the significant opportunities to add high -grade ounces near our existing mining horizons. This
includes the newly defined NS1-Zone in the hanging wall which we are currently developing and
mining beyond existing Mineral Reserves and Resources and outside of our 2023 mine plan. We
are also continuing to extend high-grade mineralization across the main Island Gold zone to the
East and West as part of our successful transition from surface exploration drilling to more cost-
effective underground drilling where we leverage our existing development ,” said John A.
McCluskey, President and Chief Executive Officer.
“We expect this ongoing success in both the main zone and subparallel structures to drive further
growth in high -grade near-mine Mineral Reserves and Resources . Given th eir proximity to our
existing underground infrastructure , these ounces will be low-cost to develop and produce ,
highlighting the significant ongoing upside to Phase 3+ Expansion study outlined in 2022 ,” Mr.
McCluskey added.
New highlight intercepts can be found in Table 1, and in Figures 1 to 3 at the end of this news
release.
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2023 Exploration Drilling Program – Island Gold Mine
A total of $14 million is budgeted for exploration at Island Gold in 2023. For the past several years,
the exploration focus has been on adding high-grade Mineral Resources at depth in advance of
the Phase 3+ Expansion study, primarily through surface directional drilling. This exploration
strategy has been successful in tripling the Mineral Reserve and Resource base since 2017. With
a 17-year mine life, and with work on the expansion ramping up, the focus has shifted to a more
cost-effective expanded underground exploration drilling program that will leverage existing
underground infrastructure. This drilling is much lower cost on a per metre basis, is less technically
challenging, and requires significantly fewer metres per exploration target.
The underground exploration drilling program has been expanded from 27,500 metres (“m”) in
2022 to 45,000 m in 2023. The program is focus ed on defining new Mineral Reserves and
Resources in proximity to existing production horizons and infrastructure including along strike,
and in the hanging-wall and footwall. These potential high-grade Mineral Reserve and Resource
additions would be low cost to develop and could be incorporated into the mine plan and mined
within the next several years, further increasing the value of the operation. To support the
underground exploration drilling program, 444 m of underground exploration drift development is
planned to extend drill platforms on the 490, 790, 945, and 980 -levels. In addition to the
exploration budget, 36,000 m of underground delineation drilling has been planned and included
in sustaining capital for Island Gold. A total of 20,027 m of underground exploration drilling, and
6,426 m of delineation drilling has been completed as of June 1, 2023.
A regional exploration program including a total of 7,500 m of drilling is also underway. The focus
will be on evaluating and advancing explor ation targets outside the Island Gold Deposit on the
newly expanded 55,300-hectare Island Gold property.
Island West
Underground Exploration Drilling
Underground drilling from the 580-level and the 790-level exploration drifts continue to extend
high-grade gold mineralization along strike to the west of Mineral Reserves and Resources in the
middle portion of Island West (between vertical depths of 700 m and 1,100 m).
New highlights include (Figure 1, Table 1):
C-Zone:
• 146.33 g/t Au (37.19 g/t cut) over 2.20 m (580-473-22); and
• 38.92 g/t Au (38.92 g/t cut) over 2.10 m (790-479-16).
Island West Hanging Wall Zones
In addition to testing the C-Zone, underground exploration drilling continued to target and expand
on previous drilling that intersected high-grade gold mineralization in sub-parallel structures in the
hanging wall from the 580, 770, 790, and 850 -levels. Additional drilling has been successful in
establishing continuity and extending high -grade gold mineralization within multiple structures
referred to as the B, G, and G1 Zones (Table 1). These zones are located 20 m, 75 m, and 110
m south of the main C-Zone, respectively.
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NS1 Hanging Wall Zone
In addition to the sub-parallel structures, a north -striking structure , NS1, with a high-angle
orientation relative to the C-Zone was identified this year. Drill testing, and subsequent exploration
sills along this structure have demonstrated continuity, both along strike, and down -dip. In
addition, other north-striking high-angle structures have been identified across the deposit, which
will be evaluated further as underground exploration drilling advances.
Three exploration s ills have been completed along the NS1 structure from the 750, 770, 810 -
levels. A fourth sill is near completion from the 790-level. The objective of these exploration sills
is to demonstrate the continuity of the structure, and high -grade gold mineralization, both along
strike, and from level-to-level down dip. Thus far, the sills have demonstrated excellent continuity,
over a 60 m strike extent to the south, and over 60 m vertically. A highlight from the NS1 zone sill
development was 3,130 tonnes of material mined from the 770-level NS1 sill that graded 15.20
g/t Au. This sill development material and the NS1 zone is beyond currently defined Mineral
Reserves and Resources and outside of the 2023 mine plan.
This further highlights the potential to add high -grade Mineral Re serves and Resources in
proximity of existing production horizons and infrastructure which could be incorporated into the
mine plan and mined within the next several years. These potential high-grade Mineral Reserves
and Resource additions would be low cost to develop, further increasing the value of the operation
and strong economics of the expansion.
New highlights from the Island West Hanging Wall zones include (Figure 2, Table 1):
NS1 Zone
• 89.31 g/t Au (7.73 cut) over 2.40 m (770-466-03);
• 25.57 g/t Au (5.68 g/t cut) over 2.50 m (770-466-07);
• 42.27 g/t Au (7.43 g/t cut) over 2.30 m (580-473-26);
• 16.06 g/t Au (6.95 g/t cut) over 2.80 m (770-466-02); and
• 14.50 g/t Au (10.08 g/t cut) over 3.10 m (580-473-25).
G1 Zone
• 60.03 g/t Au (25.70 g/t cut) over 2.50 m (790-479-13); and
• 11.13 g/t Au (6.82 g/t cut) over 2.20 m (850-471-01B).
Island West Footwall Zone
In addition to testing the C-Zone and the hanging wall zones in Island West, underground
exploration drilling also targeted and expanded on previous drilling that intersected high -grade
gold mineralization within a sub-parallel structure in the footwall from the 790-level. This additional
drilling has been successful in establishing continuity and extending high -grade gold
mineralization within the DN structure. (Figure 2, Table 1). This zone is located 100 m north of the
main C-Zone.
New highlight from the Island West Footwall zone includes:
DN Zone
• 22.34 g/t Au (22.34 g/t cut) over 2.90 m (790-479-04).
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Island East
Underground Exploration Drilling
Underground drilling from the 620 and 840-level exploration drifts continues to extend high-
grade gold mineralization along strike to the east of Mineral Reserves and Resources in the
middle portion of Island East (between vertical depths of 500 m and 1,000 m).
New highlights in the E1E-Zone include (Figure 1, Table 1):
• 104.48 g/t Au (50.76 g/t cut) over 3.10 m (840-608-49);
• 40.54 g/t Au (33.33 g/t cut) over 2.50 m (840-608-43); and
• 11.93 g/t Au (11.93 g/t cut) over 4.20 m (840-632-17).
Island East Footwall Zones
In addition to testing the E1E-Zone, underground exploration drilling continued to target and
expand on previous drilling that intersected high -grade gold mineralization in sub -parallel
structures in the footwall from the 620 and 840-levels. This additional drilling has been successful
in establishing continuity and extending high-grade gold mineralization within multiple structures
referred to as the NTH, NTH2, and NTH3 zones (Figure 3, Table 1). These zones are located 40
m, 90 m, and 75 m north of the main E1E-Zone, respectively.
New highlights from the Island East Footwall zones include (Figure 3, Table 1):
NTH2 Zone
• 44.48 g/t Au (9.71 g/t cut) over 3.10 m (620-629-03); and
• 17.91 g/t Au (5.34 g/t cut) over 2.10 m (620-629-01).
NTH3 Zone
• 12.34 g/t Au (7.65 g/t cut) over 3.30 m (840-554-44);
• 16.86 g/t Au (11.40 g/t cut) over 2.30 m (840-554-60);
• 13.21 g/t Au (13.21 g/t cut) over 2.70 m (840-554-04); and
• 11.02 g/t Au (7.29 g/t cut) over 2.30 m (840-566-08).
In addition to the hanging and footwall zones in Island West, these footwall zones in Island East
further highlight the potential to add high-grade Mineral Reserves and Resources in proximity of
existing production horizons and infrastructure which could be incorporated into the mine plan and
mined within the next several years. These potential high-grade Mineral Reserves and Resource
additions would be low cost to develop, further increasing the value of the operation.
Other Zones
The majority of Island Gold’s Mineral Reserves and Resources and main production horizons are
hosted in the C/E1E structure. The Island Gold Deposit also consists of several sub-parallel and
high-angle mineralized structures outside of the main C/E1E-Zone. As underground development
advances, these sub-parallel hanging wall and footwall structures can be targeted with step-out
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drilling from underground drill platforms. As demonstrated with the newly defined NTH2, NTH3,
and perpendicular NS1 Zone, as well as the B, G, and G1 Zones that were defined in 2022, these
zones have the potential to be converted into new Mineral Reserves and Resources adjacent to
existing underground infrastructure through additional drilling.
Step-out underground exploration drillin g targeting these zones can be completed once
underground development has been established. This drilling allows for the confirmation of the
geometry and potential continuity of mineralization with the objective of defining new Mineral
Resources. These hanging wall and footwall exploration opportunities provide potential further
upside to define additional Mineral Reserves and Resources outside of the main C/E1E -Zone in
proximity to underground development, which would enhance the ounce per vertical metre profile,
and provide multiple mining horizons from the same lateral development levels.
The following are highlights of new hanging wall and footwall intersections from underground
exploration drilling where the geometry and continuity is not yet established (“Unknown Zone”)
(reported composite intervals are uncut and core length) (Table 1):
Footwall Intersections:
• 137.20 g/t Au over 4.70 m (945-624-03);
• 18.39 g/t Au over 4.20 m (945-624-06);
• 25.85 g/t Au over 2.80 m (790-479-11);
• 6.31 g/t Au over 9.80 m (790-479-10); and
• 11.81 g/t Au over 2.70 m (790-479-02).
Hanging Wall Intersections:
• 55.29 g/t Au over 3.70 m (790-479-16);
• 54.79 g/t Au over 2.70 m (850-471-04);
• 47.61 g/t Au over 2.60 m (850-471-02);
• 18.57 g/t Au over 5.90 m (850-471-17);
• 17.48 g/t Au over 3.20 m (790-479-14); and
• 21.04 g/t Au over 2.60 m (850-471-03).
Qualified Persons
Scott R.G. Parsons, P.Geo., FAusIMM, Alamos Gold’s Vice President, Exploration, has reviewed
and approved the scientific and technical information contained in this news release. Scott R.G.
Parsons is a “Qualified Person” as defined by Canadian Securities Administrators’ National
Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Exploration programs at the Island Gold Mine are directed and supervised by Tyler Poulin ,
P.Geo., Chief Geologist at the Island Gold Mine. Tyler Poulin is a “Qualified Person” as defined
by Canadian Securities Administrators’ National Instrument 43-101 - Standards of Disclosure for
Mineral Projects.
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Quality Assurance and Quality Control
Alamos Gold maintains an internal Quality Assurance / Quality Control (QA/QC) program at the
Island Gold Mine to ensure sampling and analysis of all exploration work is conducted in
accordance with best practices.
Access to the Island Gold Mine is controlled by security personnel. Drill core is logged and
sampled at the core logging facility within the mine site under the supervision of a Qualified
Geologist. A geologist marks the individual sample s for analysis, and sample intervals, sample
numbers, standards and blanks are entered into the database. The core is cut in half using an
electric core saw equipped with a diamond tipped blade. One half of the core is placed into a
plastic sample bag and sealed with zip ties in preparation for shipment. The other half of the core
is returned to the core box and retained for future reference. The samples are placed in large
heavy-duty nylon reinforced Fabrene bags, which are identified and sealed before b eing placed
on pallets. The core samples are picked up at the mine site and delivered to AGAT laboratory in
Thunder Bay, Ontario.
Gold is analyzed by a 50 grams fire assay with an Atomic Absorption (AA) finish. Samples greater
than 10.0 g/t Au are re-analyzed using gravimetric finish methods. AGAT is a certified laboratory
and has internal quality control (“QC”) programs that include insertion of reagent blanks, reference
materials, and pulp duplicates.
The Corporation inserts QC samples (blanks and reference materials) at regular intervals to
monitor laboratory performance. Cross check assays are completed on a regular basis in a
secondary accredited laboratory. The QA/QC procedures are more completely described in the
Technical Report filed on SEDAR August 29, 2022.
About Alamos
Alamos is a Canadian -based intermediate gold producer with diversified production from three
operating mines in North America . This includes the Young-Davidson and Island Gold mines in
northern Ontario, Canada and the Mula tos mine in Sonora State, Mexico. Additionally, the
Company has a strong portfolio of growth projects, including the Phase 3+ Expansion at Island
Gold, and the Lynn Lake project in Manitoba, Canada. Alamos employs more than 1,900 people
and is committed to the highest standards of sustainable development. The Company’s shares
are traded on the TSX and NYSE under the symbol “AGI”.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Scott K. Parsons
Senior Vice President, Investor Relations
(416) 368-9932 x 5439
The TSX and NYSE have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note
This news release includes certain statements that constitute forward -looking information within the meaning of
applicable Canadian and U.S. securities laws ("forward-looking statements"). All statements in this news release other
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than statements of histor ical fact, which address events, results, outcomes or developments that Alamos expects to
occur are forward-looking statements. Forward-looking statements are generally, but not always, identified by the use
of forward -looking terminology such as "expect", "plan", "estimate", “target”, “budget”, “prospective” “potential”,
“opportunity” or variations of such words and phrases and similar expressions or statements that certain actions, events
or results "may", "could", "would", "might" or "will" be taken, occ ur or be achieved or the negative connotation of such
terms.
Such statements in this news release include, without limitation, statements with respect to planned exploration
programs, focuses, strategies, drilling targets and work, potential for further exploration of certain areas, potential drilling
results and related expectations, costs and expenditures, including with respect to the cost of development and
production, project economics, gold price assumptions, potential mineralization, projected ore grades, opportunities to
add near mine and further high -grade Mineral Reserves and Resources, expectations regarding the mine plan,
sustaining capital and value of operations and other statements and information that is based on forecasts and
projections of future operational, geological or financial results, estimates of amounts not yet determinable and
assumptions of management.
Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the
occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade,
continuity, metallurgical characteristics and economic potential to be classed as a category of Mineral Resource. A
Mineral Resource that is classified as "inferred" or "indicated" has a great amount of uncertainty as to its existence and
economic and legal feasibility. It cannot be assumed that any or part of an "Indicated Mineral Resource" or "Inferred
Mineral Resource" will ever be upgraded to a higher category of Mineral Resource. Investors are cautioned not to
assume that all or any part of mineral deposits in these categories will ever be converted into Proven and Probable
Mineral Reserves.
Alamos cautions that forward -looking statements are necessarily based upon several factors and assumptions that,
while considered reasonable by management at the time of making such statements, are inherently subject to
significant business, economic, technical, legal, political and competitive uncertaintie s and contingencies. Known and
unknown factors could cause actual results to differ materially from those projected in the forward-looking statements,
and undue reliance should not be placed on such statements and information.
These factors and assumption s include, but are not limited to: the actual results of current exploration activities,
conclusions of economic and geological evaluations, changes in project parameters as plans continue to be refined,
operations may be exposed to illness, disease, epidemic or pandemic ; any ongoing or future impact of COVID -19 on
the broader market; state and federal orders or mandates (including with respect to mining operations generally or
auxiliary businesses or services required for the Company’s operations) in Cana da, Mexico and other jurisdictions in
which the Company does or may conduct business; the duration of regulatory responses to any illness, disease,
epidemic or pandemic; changes in national and local government legislation, controls or regulations; failure to comply
with environmental and health and safety laws and regulations; labour and contractor availability (and being able to
secure the same on favourable terms); ability to sell or deliver gold doré bars; disruptions in the maintenance or
provision of required infrastructure and information technology systems; fluctuations in the price of gold or certain other
commodities such as, diesel fuel, natural gas, and electricity; operating or technical difficulties in connection with mining
or development acti vities, including geotechnical challenges and changes to production estimates (which assume
accuracy of projected ore grade, mining rates, recovery timing and recovery rate estimates and may be impacted by
unscheduled maintenance); changes in foreign excha nge rates (particularly the Canadian dollar, U.S. dollar, and
Mexican peso); the impact of inflation; employee and community relations; litigation and administrative proceedings ;
disruptions affecting operations; availability of and increased costs associated with mining inputs and labour; delays in
the development or updating of mine plans; inherent risks and hazards associated with mining and mineral processing
including environmental hazards, industrial accidents, unusual or unexpected formations, pressures and cave-ins; the
risk that the Company’s mines may not perform as planned; uncertainty with the Company's ability to secure additional
capital to execute its business plans; the speculative nature of mineral exploration and development, risks in obtaining
and maintaining necessary licenses, permits and authorizations, contests over title to properties; expropriation or
nationalization of property; political or economic developments in Canada or Mexico and other jurisdictions in which
the Company may carry on business in the future; increased costs and risks related to the potential impact of climate
change; the costs and timing of construction and development of new deposits; risk of loss due to sabotage, protests
and other civil disturbances; the impact of global liquidity and credit availability and the values of assets and liabilities
based on projected future cash flows; and business opportunities that may be pursued by the Company.
For a more detailed discussion of such risks and other factors that may affect the Company's ability to achieve the
expectations set forth in the forward-looking statements contained in this news release, see the Company’s latest 40 -
F/Annual Information Form and Management’s Discussion and Analysis, each under the heading “Risk Factors”,
available on the SEDAR website at www.sedar.com or on EDGAR at www.sec.gov. The foregoing should be reviewed
in conjunction with the information and risk factors and assumptions found in this news release.