Alamos Gold Extends High-Grade Mineralization Across Multiple Targets within the Island Gold District which Represent Upside as Potential Sources of Additional Higher-Grade Mill Feed
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 Mineralization Across Multiple Targets within
the Island Gold District which Represent Upside as Potential Sources of
Additional Higher-Grade Mill Feed
Toronto, Ontario (June 22, 2026) – Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the
“Company”) today reported new results from underground and surface exploration drilling at the
Island Gold Mine. Exploration drilling has defined high -grade mineralization across multiple
areas which are being targeted as sources of additional higher -grade mill feed within the
expanded Magino mill.
This includes defining a new zone of high -grade mineralization 250 metres (“m”) west of
underground Mineral Reserves and Mineral Resources (Island Gold West Extension ), and
continuing to extend mineralization within the Island West up-plunge area. Given its proximity
to surface, Island West up -plunge can be mined utilizing the ramp, providing further upside
potential in terms of combined underground mining rates. Additionally, the regional exploration
program continues to intersect high-grade gold mineralization at the past-producing Cline-Pick,
and Edwards mines, located seven kilometres (“km”) from the Magino Mill (see Figure 1).
"As outlined in the Expansion Study, the Island Gold District is expected to become one of the
largest and lowest cost gold operations in Canada. Given our ongoing exploration success
within the main Island Gold structure, and across multiple near mine targets, we expect there is
further production growth to come. With multiple higher grade targets being defined within
proximity to the Magino mill, and an expansion underway that will provide more than enough
mill capacity, we see excellent potential to driv e production higher by further increasing the
proportion of higher-grade ore that will be processed within the expanded circuit,” said John A.
McCluskey, President and Chief Executive Officer.
Island Gold West Extension Zone: high-grade mineralization has been intersected within
a newly defined zone measuring approximately 200 by 300 m based on drilling to date.
This new zone is located approximately 250 m to as much as 500 m along strike to the
west of the existing Mineral Reserves and Resources of the Island Gold Deposit, and
south of the Magino deposit. The zone remains open down -plunge and to the west, with
drilling continuing to target extensions of the mineralization. New highlights include1:
• Island West Extension Zone:
• 12.05 g/t Au over 5.20 m (MX26-031) including;
• 36.67 g/t Au over 1.50 m.
• 8.07 g/t Au over 5.60 m (MX26-035W) including;
• 45.90 g/t Au over 0.60 m; and
• 30.20 g/t Au over 0.45 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
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Island West up-plunge: drilling continues to expand high-grade gold mineralization
across multiple zones (C, D1, DN2, G1, G10). Given its proximity to surface, and the ability
to be mined via the ramp system, the Island West up-plunge area represents significant
opportunity to increase c ombined underground mining rates beyond the 3,000 tonnes
per day (“tpd”) that is expected to be mined and skipped to surface via the shaft. This
would support further production growth by increasing the proportion of higher -grade ore to be
processed within the expanded Magino mill. New highlights include2:
• 14.51 g/t Au (4.60 g/t cut) over 5.21 m (850-482-05);
• 4.55 g/t Au (3.95 g/t cut) over 16.05 m (850-472-41);
• 12.56 g/t Au (7.76 g/t cut) over 4.73 m (850-482-08);
• 27.11 g/t Au (8.15 g/t cut) over 1.65 m (790-446-05);
• 18.66 g/t Au over 2.30 m (MX26-036);
• 8.53 g/t Au over 4.32 m (790-460-31); and
• 3.30 g/t Au over 9.71 m (790-460-32).
Island West up-plunge unknown zones: h igh-grade mineralization intersected across
multiple yet to be defined zones in both the hanging wall and footwall (“Unknown
Zones”). Additional drilling will be focused on defining these new zones through further
assessing the geometry and continuity of these zones. New highlights include1:
• 20.94 g/t Au over 5.30 m (850-482-07);
• 30.47 g/t Au over 2.65 m (790-460-41);
• 16.28 g/t Au over 4.60 m (850-482-08);
• 6.66 g/t Au over 7.70 m (850-472-61);
• 17.24 g/t Au over 2.30 m (850-472-76); and
• 7.64 g/t Au over 5.15 m (850-482-07).
Island Gold NS1 and NS4 Zone: high-grade gold mineralization intersected within new
and recently defined hanging wall zones, NS1 and NS4 . These zones are low-cost to
develop, given their proximity to existing infrastructure. The NS1 Zone extends into the
Island West up-plunge target area representing an additional opportunity to access high-grade
ore from the existing ramp system. As exploration on the NS4 zone advances up-plunge, there
is also the potential for this zone to extend into the Island West up plunge area. New highlights
include2:
• NS1 Zone:
• 19.48 g/t Au (7.17 g/t cut) over 11.63 m (850-472-61); and
• 7.70 g/t Au over 5.02 m (1025-492-29).
• NS4 Zone: growing parallel structure 180 m west of NS1 Zone
• 132.90 g/t Au (11.51 g/t cut) over 2.21 m (850-472-76);
• 23.56 g/t Au (12.27 g/t cut) over 3.26 m (850-470-30);
• 19.43 g/t Au (5.13 g/t cut) over 2.97 m (850-470-26);
• 10.18 g/t Au over 3.50 m (850-470-21); and
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• 12.71 g/t Au over 2.64 m (850-470-31).
Cline-Pick Mine regional drilling: continues to extend high -grade gold mineralization
beyond the extent of previous mining and follow ing up on the best hole drilled to date
announced earlier this year which intersected 178.07 g/t Au over 3.54 m (25IGX128). The
targets remain open in multiple directions, including at depth, with the deepest holes
drilled to date down to a vertical depth of only 540 m. The Cline-Pick, and adjacent past
producing Edwards Mine are located within 7 km of the Magino mill and are being targeted as
potential sources of additional higher -grade mill feed within the expanded mill. New highlights
include3:
Cline-Pick Mines:
• 67.93 g/t Au over 3.05 m (26IGX143) including;
• 127.72 g/t Au over 1.35 m.
• 5.63 g/t Au over 10.77 m (26IGX136) including;
• 24.70 g/t Au over 2.12 m.
• 62.20 g/t Au over 0.98 m (25IGX128EXT) including;
• 114.00 g/t Au over 0.38 m; and
• 9.18 g/t Au over 3.55 m including;
• 72.30 g/t Au over 0.43 m.
• 4.70 g/t Au over 11.85 m (26IGX137) including;
• 9.28 g/t Au over 5.65 m; and
• 8.28 g/t Au over 5.05 m including;
• 15.71 g/t Au over 2.60 m; and
• 36.80 g/t Au over 0.79 m;
• 2.93 g/t Au over 14.41 m (26IGX138) including;
• 13.48 g/t Au over 2.07 m; and
• 11.89 g/t Au over 2.45 m (26IGX140) including;
• 50.20 g/t Au over 0.52 m.
Edwards Mine:
• 5.06 g/t Au over 13.60 m (25IGX133) including;
• 35.40 g/t Au over 0.80 m; and
• 5.96 g/t Au over 2.25 m including;
• 10.30 g/t Au over 1.10 m.
88-60 Zone:
• 24.12 g/t Au over 3.88 m (26IGX136) including;
• 63.50 g/t Au over 1.42 m.
1 All reported composite intervals are composite core length, and gold grades are reported as uncut.
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
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2 All reported composite intervals are calculated true width of the mineralized zones. Drillhole composite intervals
reported as “cut” include higher grade samples which have been cut to: Island West (C-zone) and Island Main @
230 g/t Au; B and NS1 Zone @ 90 g/t Au; D1 and G1 zone @ 45 g/t Au; G10 Zone @ 25 g/t Au, NS4 Zone @48 g/t
Au; DN and DN2 @ 35 g/t Au.
3 All reported composite intervals reported as uncut, and composites lengths are reported as core length. True width
is estimated to be 40 -85% of core length unless otherwise indicated. Composites are calculated with a 0.5 g/t cut -
off, maximum internal waste of 4 m, and no minimum length.
New highlight intercepts can be found in Tables 1 and 2, and in Figures 1 to 6 at the end of this
news release.
2026 Exploration Drilling Program
A total of $43 million has been budgeted for exploration at the Island Gold District in 2026, up
from $24 million spent in 2025. A significant focus of the 2025 drilling program at Island Gold
and Magino was on delineation drilling to convert the large Inferred Mineral Resource base to
Mineral Reserves. This program was executed successfully and resulted in a significant
increase in Mineral Reserves at both Island Gold and Magino, which was incorporated into the
Island Gold District Expansion Study announced on February 3, 2026. With the deposit open
laterally and at depth, there is significant potential for further growth in Mineral Reserves and
Resources.
A total of 50,000 m of underground exploration drilling is planned in 2026 with a focus on
defining new Mineral Reserves and Resources in proximity to existing production horizons and
infrastructure. This includes drilling across the strike extent of the main Island Gold deposit (E1E
and C-Zones), as well as within a growing number of newly defined hanging wall and footwall
zones. To support the underground exploration program, 1,090 m of underground exploration
drift development is planned to extend drill platforms on multiple levels.
Additionally, 48,000 m of surface exploration drilling has been budgeted targeting the area
between the Island Gold and Magino deposits, as well as the down -plunge extension of the
Island Gold deposit, below a depth of 1,500 m.
The regional exploration program at the Island Gold District includes 16,000 m of surface drilling.
The focus of the regional program will be following up on high-grade mineralization intersected
in the 2025 drill program at Cline and Pick , which are located approximately 7 km northeast
Magino mill. Drilling will also be completed at the historic Edwards mine, located in proximity to
the Cline and Pick mines with the objective of extending mineralization beyond historically
mined areas. Additionally, drilling will be completed at the Island Gold North Shear target, and
to the east and along strike from the Island Gold mine to test the extension of the E1E-zone.
As of June 1 , 2026, a total of 17,760 m of underground drilling was completed in 66 holes.
Additionally, 13,023 m of surface exploration drilling has been completed in 17 holes focused
on expansion of Island Gold to the east, west, and down -plunge. As part of the regional
exploration program, 8,123 m of drilling has been completed in 13 holes and two extension
holes.
The focus of this press release is on the variety of higher-grade upside opportunities that are
being targeted beyond the main Island Gold underground structure. Ongoing success within the
main structure is expected to support further growth in Mineral Reserves and Resources as
drilling continues to advance across multiple areas, including Island East and down-plunge.
Results from drilling within the main structure are expected to be released later in 2026.
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Island Gold West Extension
High-grade mineralization was intersected in a new zone from seven holes (six surface and one
underground), spaced approximately 40 m to 100 m apart. Assays are pending from four of the
surface holes. This new zone is located 300 m along strike to the west of the current Island Gold
Mine Mineral Reserves and Resources, and has currently been tested between 750 and 1,000
m from surface. Based on the initial drilling this new zone has been defined over an exten t of
approximately 200 m by 300 m and is open to the west and down -plunge. This zone is in an
area that has seen very limited exploration, to the west of the “Creek Fault”, south of the Webb
Lake Stock, and the Magino deposit. Only one historic hole (AR-390-01) was completed in this
target area by Alamos in 2018, which intersected 7.03 g/t over 5.50 m including 38.74 g/t Au
over 0.70 m, and was classified as an “Unknown” zone at that time.
Drilling will continue in this area from both surface and from underground drill platforms
established in the western portion of the Island Gold Mine on the 490 and 790-levels.
New highlights include1 (Figure 2, Table 1):
• Island West Extension Zone:
• 12.05 g/t Au over 5.20 m (MX26-031) including;
• 36.67 g/t Au over 1.50 m.
• 8.07 g/t Au over 5.60 m (MX26-035W) including;
• 45.90 g/t Au over 0.60 m; and
• 30.20 g/t Au over 0.45 m.
1 All reported composite intervals are composite core length, and gold grades are reported as uncut.
Island West Up-Plunge
The Island West up-plunge area represents significant opportunity to support increased
underground mining rates beyond the 3,000 tpd that is expected to be skipped to surface via
the shaft. Given its proximity to surface, this area can be mined via the ramp system providing
higher combined underground mining rates . This would increase the proportion of high -grade
ore processed within the expanded Magino mill, supporting higher combined gold production .
Surface and underground exploration drilling in 2026 has been focused on expanding high-
grade gold mineralization within the Island West up-plunge area in multiple zones (C, D1, DN2,
G1, G10) from 400 to 900 m below surface. Drilling remains focused on continuing to define
additional high-grade mineralization in this area, up-plunge towards surface.
New highlights include2 (Figure 2, Table 1):
• 14.51 g/t Au (4.60 g/t cut) over 5.21 m (850-482-05);
• 4.55 g/t Au (3.95 g/t cut) over 16.05 m (850-472-41);
• 12.56 g/t Au (7.76 g/t cut) over 4.73 m (850-482-08);
• 27.11 g/t Au (8.15 g/t cut) over 1.65 m (790-446-05);
• 18.66 g/t Au over 2.30 m (MX26-036);
• 8.53 g/t Au over 4.32 m (790-460-31); and
• 3.30 g/t Au over 9.71 m (790-460-32).
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
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In addition, multiple high-grade intervals were intersected in the hanging wall and footwall of the
Island West up-plunge area within yet to be defined zones. Additional drilling will be focused on
defining new zones through further assessing their geometry and continuity.
New highlights from “Unknown zones” in the Island West up plunge area include1 (Table 1):
• 20.94 g/t Au over 5.30 m (850-482-07);
• 30.47 g/t Au over 2.65 m (790-460-41);
• 16.28 g/t Au over 4.60 m (850-482-08);
• 6.66 g/t Au over 7.70 m (850-472-61);
• 17.24 g/t Au over 2.30 m (850-472-76); and
• 7.64 g/t Au over 5.15 m (850-482-07).
1 All reported composite intervals are composite core length, and gold grades are reported as uncut.
2 All reported composite intervals are calculated true width of the mineralized zones. Drillhole composite intervals
reported as “cut” include higher grade samples which have been cut to: Island West (C-zone) and Island Main @
230 g/t Au; B and NS1 Zone @ 90 g/t Au; D1 and G1 zone @ 45 g/t Au; G10 Zone @ 25 g/t Au, NS4 Zone @48 g/t
Au; DN, DN2 @ 35 g/t Au.
Island West Hanging Wall NS-Zones
In addition to testing the main Island Gold structure (C -Zone), underground exploration drilling
continued to target high-grade gold mineralization in sub -parallel and perpendicular structures
in the hanging wall from the 850 and 1025-levels.
NS Hanging Wall Zones
The NS1 zone is a northwest -striking structure with a high -angle orientation relative to the C -
Zone that was discovered in early 2023. The first stopes were mined from the NS1 zone during
the second half of 2023, and it continues to be actively mined, high lighting the size and near-
term opportunities within these hanging wall and footwall zones. Notably, the NS1 Zone extends
into the Island West up-plunge target area representing an additional opportunit y to access
high-grade ore from the existing ramp system.
The NS4 zone is a northwest -striking structure discovered in 2024, 180 m west of and
subparallel to the NS1 zone. To date, this zone has been defined over a vertical extent of 400
m, and an average strike of 300 m. As exploration on the NS4 zone advances up-plunge, there
is also the potential for the NS4 zone to extend into the Island West up plunge area. Several
other north -striking high -angle structures have been identified across the deposit from
reinterpretation of historical hanging wall drilling, incl uding the NS2 and NS3 zones which will
be further drill tested in 2026 . These structures will continue to be further evaluated as
underground exploration drilling advances, and represent significant opportunities to continue
to grow near mine Mineral Reserves and Resources which are low-cost to develop, given their
proximity to existing infrastructure.
New highlights from the Island West Hanging Wall zones include2 (Table 1, Figure 2):
• NS1 Zone:
• 19.48 g/t Au (7.17 g/t cut) over 11.63 m (850-472-61); and
• 7.70 g/t Au over 5.02 m (1025-492-29).
• NS4 Zone: growing parallel structure 180 m west of NS1 Zone
• 132.90 g/t Au (11.51 g/t cut) over 2.21 m (850-472-76);
7 | ALAMOS GOLD INC
• 23.56 g/t Au (12.27 g/t cut) over 3.26 m (850-470-30);
• 19.43 g/t Au (5.13 g/t cut) over 2.97 m (850-470-26);
• 10.18 g/t Au over 3.50 m (850-470-21); and
• 12.71 g/t Au over 2.64 m (850-470-31).
2 All reported composite intervals are calculated true width of the mineralized zones. Drillhole composite intervals
reported as “cut” include higher grade samples which have been cut to: Island West (C-zone) and Island Main @
230 g/t Au; B and NS1 Zone @ 90 g/t Au; D1 and G1 zone @ 45 g/t Au; G10 Zone @ 25 g/t Au, NS4 Zone @48 g/t
Au; DN, DN2 @ 35 g/t Au.
Regional Exploration
Cline-Pick, and Edwards Mines, and 88-60 Zone
The Cline-Pick and Edwards (“CEP”) mines are located 7 km by road northeast of the Magino
mill (Figures 3 and 4). Alamos acquired these past -producing mines in 2020 as part of its
consolidation of the northeastern segment of the Michipicoten Greenstone Belt with the
acquisition of Trillium Mining Corp.
Since 2023, Alamos has completed 19,448 m of drilling in 56 holes at CEP as part of the regional
drilling program. The 2026 regional exploration program includes 12,500 m focused at CEP with
the objective of advancing the deposits towards a Mineral Resource estimate.
Drilling completed year to date continues to expand high-grade gold mineralization beyond the
extent of historic mining . Extension of high -grade gold mineralization at these historic mines
represent potential future sources of additional higher-grade ore within the expanded Magino
mill.
The focus of the 2026 Cline -Pick drill program has been to follow up on drill hole 25IGX128
which returned 178.07 g/t Au over 3.54 m (see press release dated February 2, 2026) . Drill
hole 25IGX128, had targeted a 300 m gap in drilling, approximately 430 m from surface, where
a moderate east plunging ore shoot is associated with a subvertical east -west trending shear
zone. The vein has been interpreted as a moderate-steeply dipping shear-vein, with true width
estimated at approximately 50% of core length.
Step out drilling is being completed within the shear zone at 40 to 75 m spacing, with the focus
on further defining the geometry and orientations of both the shear and the veins, as well as
determining the controls on gold mineralization. These holes represent some of the deepe r
holes drilled at Cline-Pick, intersecting the target zone down to a 510 m vertical depth, and the
main structure remains open at depth and along strike.
New highlights include3 (Figure 5 and 6, Table 2):
Cline-Pick Mines:
• 67.93 g/t Au over 3.05 m (26IGX143) including;
• 127.72 g/t Au over 1.35 m.
• 5.63 g/t Au over 10.77 m (26IGX136) including;
• 24.70 g/t Au over 2.12 m.
• 62.20 g/t Au over 0.98 m (25IGX128EXT) including;
• 114.00 g/t Au over 0.38 m; and
• 9.18 g/t Au over 3.55 m including;
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
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• 72.30 g/t Au over 0.43 m.
• 4.70 g/t Au over 11.85 m (26IGX137) including;
• 9.28 g/t Au over 5.65 m; and
• 8.28 g/t Au over 5.05 m including;
• 15.71 g/t Au over 2.60 m; and
• 36.80 g/t Au over 0.79 m;
• 2.93 g/t Au over 14.41 m (26IGX138) including;
• 13.48 g/t Au over 2.07 m; and
• 11.89 g/t Au over 2.45 m (26IGX140) including;
• 50.20 g/t Au over 0.52 m.
Edwards Mine:
Two drill holes were also completed to the northeast of the Edwards Mine Shaft #1, testing for
the potential extension of mineralization. Both holes intersected gold mineralization with the
high-grade highlight in drill hole 25IGX133 which returned 5.06 g/t Au over 13.60 m, including
35.40 g/t Au over 0.80 m. Additional drilling will be completed in the second half of the 2026
following up on this drill hole. New highlights include:
Edwards Mine:
• 5.06 g/t Au over 13.60 m (25IGX133) including;
• 35.40 g/t Au over 0.80 m; and
• 5.96 g/t Au over 2.25m including;
• 10.30 g/t Au over 1.10 m.
88-60 Zone:
Surface drilling targeting Cline -Pick at depth also intersected high -grade mineralization in the
88-60 zone which is located approximately 200 m north of Cline-Pick (see Figure 4). Drill hole
26IGX136 intersected 24.12 g/t Au over 3.88 m , including 63.50 g/t Au over 1.42 m , at a
vertical depth of only 67 m from surface. The last exploration drilling program targeting the 88-
60 zone in 2023 also intersected high -grade mineralization. This included 6.00 g/t Au over
11.18 m, including 19.79 g/t over 1.12 m, 20.90 g/t over 0.78 m, and 24.60 g/t over 0.58 m
in drill hole 23IGX066, at a vertical depth of only 113 m (see press release dated November 9,
2023). New highlights include:
88-60 Zone:
• 24.12 g/t Au over 3.88 m (26IGX136) including;
• 63.50 g/t Au over 1.42 m.
3 All reported composite intervals reported as uncut, and composites lengths are reported as core length. True width
is estimated to be 40 to 85% of core length unless otherwise stated. Composites are calculated with a 0.5 g/t cut-off,
maximum internal waste of 4 m, and no minimum length.
Qualified Persons
Scott R.G. Parsons, P.Geo., FAusIMM, Alamos Gold’s Senior 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.