Alamos Gold Extends High-Grade Gold Mineralization 300 Metres Down-Plunge from Mineral Resources in Island Gold East
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
W E B S I T E : w w w . a l a m o s g o l d . c o m T R A D I N G S Y M B O L : T S X : A G I N Y S E : A G I
Alamos Gold Extends High-Grade Gold Mineralization 300 Metres Down-Plunge
from Mineral Resources in Island Gold East
Toronto, Ontario (November 11, 2021) – Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos”
or the “Company”) today reported new results from surface and underground exploration drilling
at the Island Gold mine, further extending high-grade gold mineralization in the middle and lower
portions of Island East. All reported drill widths are true width of the mineralized zones , unless
otherwise stated.
• Island East Lower: high-grade gold mineralization significantly extended up to 300
metres (“m”) down-plunge from existing Inferred Mineral Resources in Island East
(MH27-02). This confirms high-grade mineralization extends east of the most easterly
diabase dyke in a previously untested area . This is the deepest hole drilled to date at
Island Gold confirming high -grade gold mineralization extends well beyond Mineral
Resources to a depth of more than 1,700 m. Wide, high-grade gold mineralization was
also extended 50 m beyond the nearest Inferred Mineral Resource block and down -
plunge from previously reported drill hole MH25-08 (71.21 g/t Au (39.24 g/t cut) over
21.33 m), the best hole drilled to date at Island Gold. New highlights include:
• 15.86 g/t Au (10.74 g/t cut) over 16.04 m (MH25-10);
• 15.76 g/t Au (15.76 g/t cut) over 10.82 m (MH25-11); and
• 11.90 g/t Au (11.90 g/t cut) over 4.60 m (MH27-02).
• Island East Middle: underground exploration drilling continues to extend high -
grade gold mineralization within the gap between Mineral Reserves and
Resources in the upper and middle portions of Island East. New highlights include:
• 12.03 g/t Au (12.03 g/t cut) over 8.26 m (840-602-23);
• 9.65 g/t Au (9.65 g/t cut) over 7.16 m (840-608-09);
• 14.24 g/t Au (13.88 g/t cut) over 3.77 m (840-602-29); and
• 11.39 g/t Au (11.39 g/t cut) over 2.50 m (840-618-01A).
Note: Drillhole composite intervals reported as “cut” may include higher grade samples which have been cut to 185
g/t Au for the Island East Area.
“Ongoing exploration success at Island Gold continues to demonstrate the significant potential
for further growth in Mineral Reserves and Resources . This included intersecting high -grade
mineralization 300 metres beyond existing Mineral Resources in the deepest hole drilled to date
at Island Gold. These results are in proximity to the planned shaft and highlight the tremendous
upside potential beyond what w as outlined in the Phase III Expansion study,” said John A.
McCluskey, President and Chief Executive Officer.
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New highlight intercepts can be found in Tables 1 and 2, and in Figures 1 to 3 at the end of this
news release.
Island East
Surface Directional Drilling
Surface directional drilling continues to extend high-grade gold mineralization beyond Mineral
Resource blocks in the lower portions of Island East (Figures 1 and 2). New highlights from the
drilling program include (E1E-Zone) (Table 1):
• 15.86 g/t Au (10.74 g/t cut) over 16.04 m (MH25-10);
• 15.76 g/t Au (15.76 g/t cut) over 10.82 m (MH25-11);
• 11.90 g/t Au (11.90 g/t cut) over 4.60 m (MH27-02); and
• 9.07 g/t Au (9.07 g/t cut) over 2.12 m (MH27-01).
Drill holes MH25-10 (15.86 g/t Au (10.74 g/t cut) over 16.04 m) and MH25-11 (15.76 g/t Au
(15.76 g/t cut) over 10.82 m) intersected wide, high -grade mineralization 50 m and 45 m
beyond the nearest Inferred Mineral Res ource block in Island East. These drill holes conti nue
to extend gold mineralization down-plunge from drillhole MH25-08 (71.21 g/t Au (39.24 g/t cut)
over 21.33 m), the best hole ever drilled at Island Gold, and drillhole MH25-04 (28.97 g/t Au
(27.96 g/t cut) over 21.76 m) (both previously released; see press release dated June 15,
2021).
In addition, drill holes MH27-02 (11.90 g/t Au (11.90 g/t cut) over 4.60 m) and MH27-01 (9.07
g/t Au (9.07 g/t cut) over 2.12 m) intersected high-grade mineralization 300 m and 235 m from
the nearest Inferred Mineral Resource block in Island East. Drillhole MH27-02 is the deepest
hole drilled to date at Island Gold, intersecting high-grade mineralization at a depth of 1,717 m,
well below existing Mineral Resources which extend to a depth of approximately 1,500 m. This
also extended high -grade mineralization to within 200 m of the former Trillium Mining mineral
tenure, reinforcing the strategic merit of acquiring Trillium and this property in December 2020.
Drill holes MH27 -02 and MH27 -01 targeted the main Island Gold zone to the east of a north -
south trending diabase dyke which was emplaced along a pre -existing fault . The current
geological interpretation, based on the initial holes, is that the zone appears to be displaced
across the fault approximately 140 m to the north and closer to the planned shaft bottom.
Additional drilling will be completed to confirm these intersections are within the same structure
with t he results to date highlighting the significant potential for further Mineral Reserve and
Resource growth well below and down -plunge from existing Mineral Resources , and in closer
proximity to planned infrastructure.
Underground Exploration Drilling
Underground drilling from the 840-level exploration drift continues to extend high-grade
mineralization and close the gap between Mineral Reserves and Resources in the upper and
middle portions of Island East (between depths of 800 m and 1,000 m) (Figure 3). New
highlights include (E1E-Zone) (Table 2):
• 12.03 g/t Au (12.03 g/t cut) over 8.26 m (840-602-23);
• 9.65 g/t Au (9.65 g/t cut) over 7.16 m (840-608-09);
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• 14.24 g/t Au (13.88 g/t cut) over 3.77 m (840-602-29); and
• 11.39 g/t Au (11.39 g/t cut) over 2.50 m (840-618-01A).
Other Zones
The Island Gold Deposit consists of a number of subparallel mineralized zones, with the majority
of Mineral Reserves and Resources defined in the C Zone and E1E -Zone which constitute the
main production horizons at the Island Gold Mine. Highlights of new intersections from
underground and surface exploration drilling of parallel zones and zones in which the lateral
continuity is not yet established (“Unknown Zone”) include (reported composite intervals are
core lengths) (Tables 1 and 2):
• 39.64 g/t Au (20.27 g/t cut) over 3.00 m (840-602-21); and
• 10.28 g/t Au (10.28 g/t cut) over 7.05 m (840-530-02);
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 within the meaning of Canadian Securities
Administrator’s National Instrument 43-101 (“NI 43-101”).
Exploration programs at the Island Gold Mine are directed by Raynald Vincent, P.Eng., M.G.P.,
Exploration Superintendent at the Island Gold Mine and a Qualified Person within the meaning
of NI 43-101.
Quality Control
Alamos Gold maintains an internal 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 samples 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 th e 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 being
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 gr ams fire assay with an Atomic Absorption (AA) finish. Samples
greater than 6.5 g/t Au are re-analyzed using gravimetric finish methods. AGAT is a certified
laboratory and has internal quality con trol (“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 comp leted 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 31, 2020.
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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 Mulatos mine in Sonora State, Mexico. Additionally, the
Company has a significant portfolio of de velopment stage projects in Canada, Mexico, Turkey,
and the United States. Alamos employs more than 1,700 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
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 than statements
of historical 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 “continue”, “focus”, "estimate", or “potential” 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, occur
or be achieved or the negative connotation of such terms. In particular, this news release contains forward -looking
statements including, without limitation, with respect to surface and underground exploration drilling at the Island Gold mine,
the estimation of Mineral Resources, exploration results, potential mineralization, changes in Mineral Resources and Mineral
Reserves, Island Gold’s Phase III expansion and other 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.
Forward-looking statements are necessarily based upon a number of 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 uncertainties 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.
Such factors and assumptions underlying the forward-looking statements in this news release include: 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 widespread pandemic; the impact of the COVID-19 pandemic on the
broader market; provincial and federal orders or mandates (including with respect to mining operations generally or auxiliary
businesses or services required for o ur operations) in Canada, Mexico, the United States and Turkey; the duration of
regulatory responses to the COVID -19 pandemic; changes in national and local government legislation, controls or
regulations, failure to comply with environmental and health an d safety laws and regulations; labour and contractor
availability (and being able to secure the same on favourable terms); 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 activities,
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 exchange rates (particularly the Canadian dollar, U.S. dollar, Mexican peso and Turkish Lira); the impact of inflation;
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employee and community relations; litigation and administrative proceedings; disruptions affecting operations; availability
of and increased costs associated with mining inputs and labour; delays with the Phase III Expansion Project at the Island
Gold mine; 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 aut horizations, contests over title to properties; expropriation or nationalization of property; political or economic
developments in Canada, Mexico, the United States, Turkey 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 credi t 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 abilit y 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 found in this news release.
The Company disclaims any intention or obligation to update or revise any forward -looking statement, whether written or
oral, or whether as a result of new information, future events or otherwise, except as required by applicable law.
Cautionary Note to U.S. Investors – Mineral Reserve and Resource Estimates
All resource and reserve estimates included in this news release have been prepared in accordance with Canadian National
Instrument 43 -101 - Standards of Disclosure for Mineral Projects (“NI 43 -101”) and the Canadian Institute of Mining,
Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by
the CIM Council, as amended (the “CIM Standards”). NI 43 -101 is a rule developed by the Canadian Securities
Administrators, which established standards for all public disclosure an issuer makes of scientific and technical information
concerning mineral projects. The terms “Mineral Reserve”, “Proven Mineral Reserve” and “Probable Mineral Reserve” are
Canadian mining terms as defined in accordance with NI 43 -101 and the CIM Standards. Investors are ca utioned not to
assume that all or any part of mineral deposits in these categories will ever be converted into reserves. “Inferred Mineral
Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and l egal
feasibility. It cannot be assumed that all or any part of an Inferred Mineral 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 pre -
feasibility studies, except in very limited circumstances. Investors are cautioned not to assume that all or any part of an
Inferred Mineral Resource exists or is economically or legally mineable. Disclosure of “contained ounces” in a Mineral
Resource is permitted disclosure under Canadian regulations.
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Table 1: Island Gold – Previously Unreleased Select Composite Intervals from Surface and
Underground Directional Exploration Drilling
Composite intervals greater than 3 g/t Au weighted average, capping values:
Island East @ 185 g/t Au.
Hole ID Zone Target Area From
(m) To (m)
Core
Length
(m)
True
Width
(m)
Au
Uncut
(g/t)
Au Cut
(g/t)
Vertical
Depth (m)
MH25-10 E1E Island East 1622.60 1641.20 18.60 16.04 15.86 10.74 1497
MH25-11 E1E Island East 1642.07 1654.00 11.93 10.82 15.76 15.76 1532
MH27-01 E1E Island East 1764.90 1767.60 2.70 2.12 9.07 9.07 1641
MH27-02 E1E Island East 1824.45 1829.90 5.45 4.60 11.90 11.90 1717
840-530-02 Unknown Main Island 155.75 162.80 7.05 -- 10.28 10.28 990
Table 2: Island Gold – Previously Unreleased Select Composite Intervals from Underground
Exploration Drilling
Composite intervals greater than 3 g/t Au weighted average, capping values:
Island East @ 185 g/t Au.
Hole ID Zone Target Area From
(m) To (m)
Core
Length
(m)
True
Width
(m)
Au
Uncut
(g/t)
Au Cut
(g/t)
Vertical
Depth
(m)
340-580-15 E1E Island East 185.70 190.30 4.60 2.34 5.20 5.20 432
840-584-04 E1E Island East 151.40 156.10 4.70 3.37 5.77 5.77 883
840-584-05 E1E Island East 208.20 214.50 6.30 3.82 4.62 4.62 961
840-590-03 E1E Island East 227.90 232.60 4.70 2.31 7.52 7.52 989
840-590-07 E1E Island East 174.55 177.70 3.15 2.20 12.01 12.01 929
840-602-21 E1E Island East 169.15 176.00 6.85 4.04 6.04 6.04 942
840-602-23 E1E Island East 146.10 157.80 11.70 8.26 12.03 12.03 911
840-602-24 E1E Island East 208.00 213.10 5.10 2.11 3.44 3.44 983
840-602-28 E1E Island East 184.30 189.00 4.70 3.48 4.67 4.67 959
840-602-29 E1E Island East 153.00 161.80 8.80 3.77 14.24 13.88 920
840-608-09 E1E Island East 148.32 156.34 8.02 7.16 9.65 9.65 903
840-618-01A E1E Island East 150.10 152.60 2.50 2.50 11.39 11.39 801
840-602-21 Unknown Island East 183.00 186.00 3.00 -- 39.64 20.27 949
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Table 3: Surface and underground directional drill holes; azimuth, dip, drilled length, and collar
location at surface (UTM NAD83)
Hole ID Azimuth
(°) Dip (°)
Drilled
Length
(m)
UTM
Easting
(m)
UTM
Northing
(m)
UTM
Elevation
(m)
Comments
MH25-09 335 -80 712 692314 5351074 398 Cut from MH25-08 at 1037 m
MH25-10 335 -80 866 692314 5351074 398 Cut from MH25-09 at 1077 m
MH25-11 335 -80 1127 692314 5351074 398 Cut from MH25-06 at 699 m
MH26-04 339 -79 813 692210 5351208 394 Cut from MH26-03 at 933 m
MH26-05 339 -79 1142 692210 5351208 394 Cut from MH26-04 at 642 m
MH27-01 338 -76 2075 692344 5354146 392
MH27-02 338 -76 949 692344 5351146 392 Cut from MH27-01 at 1051 m
MH28-01B 253 -84 1651 692681 5351670 397 Cut from MH28-01A at 350 m
620-623-08 124 -55 558 691707 5352177 -209
620-623-09 124 -45 508 691707 5352177 -209
740-471-43A 110 -66 428 690297 5351608 -369 Cut from 740-471-43 at 408 m
840-530-01 178 -67 587 690848 5351794 -469
840-530-02 148 -63 630 690851 5351796 -466
Note: UTM mine surface elevation 382 m
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Table 4: UG Exploration drill holes; azimuth, dip, drilled length, and collar location at surface
(UTM NAD83).
Hole ID Azimuth
(°) Dip (°)
Drilled
Length
(m)
UTM
Easting
(m)
UTM
Northing
(m)
UTM Elevation (m)
340-580-15 169 -43 228 691267 5352110 72
340-580-16 148 40 117 691267 5352109 76
340-580-17 179 37 120 691266 5352109 75
620-623-13 152 -14 210 691707 5352177 -207
840-584-04 161 -17 246 691378 5351957 -457
840-584-05 154 -34 282 691378 5351957 -457
840-584-06 149 -21 238 691378 5351957 -457
840-590-02 152 -6 207 691441 5351957 -455
840-590-03 144 -41 270 691442 5351957 -456
840-590-07 151 -32 249 691441 5351957 -455
840-602-19 166 -18 192 691562 5351985 -453
840-602-21 151 -38 246 691560 5351985 -454
840-602-23 151 -30 213 691561 5351985 -453
840-602-24 166 -44 267 691560 5351985 -454
840-602-28 171 -42 246 691562 5351985 -452
840-602-29 173 -32 213 691560 5351985 -453
840-608-09 164 -27 198 691619 5352009 -452
840-618-01A 159 11 256 691696 5352056 -449
840-618-06 145 -31 282 691697 5352056 -451
Note: UTM mine surface elevation 382 m