Alamos Gold Reports Mineral Reserves and Resources for the Year-Ended 2023 Global Mineral Reserves and Resources Increase Across All Categories in Size and Grade Driven by 16% Increase in Combined High-Grade Mineral Reserves and Resources at Island Gold
Alamos Gold Reports Mineral Reserves and Resources for the Year-Ended
2023
Global Mineral Reserves and Resources Increase Across All Categories in Size and Grade Driven by 16% Increase
in Combined High-Grade Mineral Reserves and Resources at Island Gold
TORONTO, Feb. 20, 2024 -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today reported its
updated Mineral Reserves and Resources as of December 31, 2023. For a detailed summary by asset, refer to the tables
below.
Highlights
• Global Proven and Probable Mineral Reserves increased 2% to 10.7 million ounces of gold (202 million tonnes
(“mt”) grading 1.65 grams per tonne of gold (“g/t Au”)), with grades increasing 1%, reflecting higher-grade additions at
Island Gold and Puerto Del Aire (“PDA”), and growth at Lynn Lake. Mineral Reserve additions more than replaced
depletion at a rate of 132%
◦ Island Gold’s Mineral Reserves increased 18% to 1.7 million ounces (5.2 mt grading 10.30 g/t Au), marking
the 11th consecutive year of growth
◦ PDA’s Mineral Reserves increased 33% to 1.0 million ounces (5.4 mt grading 5.61 g/t Au) with a 16%
increase in grades
◦ Lynn Lake’s Mineral Reserves increased 13% to 2.3 million ounces (47.6 mt grading 1.52 g/t Au)
• Island Gold’s Mineral Reserves and Resources increased 16% to 6.1 million ounces driven by significant high-
grade additions near existing infrastructure within the main zone and recently defined zones in the hanging wall and
footwall
• PDA Mineral Reserves and Resources increased 26% to 1.2 million ounces. A development plan incorporating the
larger and higher-grade Mineral Reserve is expected to be completed later this quarter
• Global Measured and Indicated Mineral Resources increased 12% to 4.4 million ounces of gold (108 mt
grading 1.27 g/t Au), with grades increasing 9% reflecting higher grade additions at Island Gold and growth at Young-
Davidson
• Global Inferred Mineral Resources increased 3% to 7.3 million ounces of gold (128 mt grading 1.77 g/t Au),
reflecting increases at Island Gold and Lynn Lake
• Gold price assumptions unchanged from 2022 with $1,400 per ounce used for estimating Mineral Reserves, and
$1,600 per ounce used for estimating Mineral Resources. Both remain conservative relative to the three-year trailing
average gold price of nearly $1,850 per ounce
• Global exploration budget of $62 million in 2024, the largest in the Company’s history following up on the
broad based exploration success in 2023. This includes $19 million budgeted at the Mulatos District, $19 million at
Island Gold, $12 million at Young-Davidson and $9 million at Lynn Lake
“Our global Mineral Reserve base continues to expand both in size and quality. This reflects not only another strong year of
exploration success, but also the quality of our asset base. Global Mineral Reserves have increased for five consecutive years
for a combined increase of 10%, after depletion of three million ounces, with grades also increasing 9% driven by higher-grade
additions at Island Gold and PDA,” said John A. McCluskey, President and Chief Executive Officer.
“Our global Mineral Resources also increased, and at higher grades with another tremendous year of exploration success at
Island Gold the key driver. Island Gold’s Mineral Reserve and Resource base achieved a new milestone, surpassing six million
ounces of gold and extending the mine life beyond 20 years. We also expect the growth at PDA will support a significant mine
life extension at Mulatos as part of the development plan to be completed later this quarter. Both Island Gold and Mulatos will
remain the primary focus of our 2024 exploration program with our largest budget ever planned. The expanded budget reflects
the excellent potential for further growth we see at both assets, and across our asset base,” Mr. McCluskey added.
An infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96109cb7-5315-453f-b428-
cb84f4296b57
Proven and Probable Gold Mineral Reserves
2023 2022 % Change
Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces
(000’s) (g/t Au) (000’s) (000’s) (g/t Au) (000’s) (000’s) (g/t Au) (000’s)
Young-Davidson 43,911 2.31 3,261 44,208 2.35 3,335 -1% -2% -2%
Island Gold 5,210 10.30 1,725 4,225 10.78 1,464 23% -4% 18%
Mulatos Mine - - - 2,872 1.17 108
Stockpiles - - - 2,658 2.06 176
La Yaqui Grande 11,318 1.33 483 16,531 1.25 667
Puerto Del Aire 5,375 5.61 969 4,673 4.84 728 15% 16% 33%
Total Mulatos 16,693 2.71 1,452 26,734 1.95 1,679 -38% 39% -14%
MacLellan 39,738 1.34 1,717 27,820 1.54 1,382
Gordon 7,873 2.43 615 8,723 2.42 678
Total Lynn Lake 47,610 1.52 2,332 36,542 1.75 2,060 30% -13% 13%
Ağı Dağı 54,361 0.67 1,166 54,361 0.67 1,166
Kirazlı 33,861 0.69 752 33,861 0.69 752
Total Türkiye 88,222 0.68 1,918 88,222 0.68 1,918 - - -
Alamos – Total 201,647 1.65 10,688 199,932 1.63 10,455 1% 1% 2%
Measured and Indicated Gold Mineral Resources (exclusive of Mineral Reserves)
Young-Davidson – Surface 1,739 1.24 69 1,739 1.24 69
Young-Davidson – Underground 9,914 3.32 1,057 8,643 3.40 944
Total Young-Davidson 11,653 3.01 1,127 10,381 3.03 1,013 12% -1% 11%
Golden Arrow 6,442 1.19 246 6,442 1.19 246 - - -
Island Gold 2,552 8.73 716 1,276 7.09 291 100% 23% 146%
Mulatos Mine 7,083 1.13 258 6,103 1.07 210
La Yaqui Grande 1,073 0.87 30 1,506 0.87 42
Puerto Del Aire 2,106 3.54 240 1,338 4.98 214 57% -29% 12%
Carricito 1,355 0.83 36 1,355 0.83 36
Total Mulatos 11,617 1.51 564 10,302 1.52 502 13% -1% 12%
Lynn Lake 7,848 1.37 345 8,178 1.74 457 -4% -21% -25%
Türkiye 55,664 0.60 1,068 55,664 0.60 1,068 - - -
Quartz Mountain 12,156 0.87 339 12,156 0.87 339 - - -
Alamos – Total 107,932 1.27 4,405 104,399 1.17 3,917 3% 9% 12%
Inferred Gold Mineral Resources
Young-Davidson – Surface 31 0.99 1 31 0.99 1
Young-Davidson – Underground 1,350 3.31 144 1,586 2.89 147
Total Young-Davidson 1,381 3.26 145 1,617 2.85 148 -15% 14% -2%
Golden Arrow 2,028 1.07 70 2,028 1.07 70
Island Gold 7,857 14.58 3,682 8,066 13.61 3,529 -3% 7% 4%
Mulatos Mine 571 0.92 17 560 0.92 17
La Yaqui Grande 107 1.30 4 175 1.31 7
Puerto Del Aire 73 5.97 14 139 5.90 26 -47% 1% -46%
Carricito 900 0.74 22 900 0.74 22
Total Mulatos 1,651 1.07 57 1,774 1.27 72 -7% -15% -21%
Lynn Lake 48,685 1.09 1,699 45,873 1.10 1,622 6% -1% 5%
Türkiye 27,245 0.55 482 27,245 0.55 482 - - -
Quartz Mountain 39,205 0.91 1,147 39,205 0.91 1,147 - - -
Alamos – Total 128,052 1.77 7,282 125,809 1.75 7,070 2% 1% 3%
Mineral Reserves
Global Proven and Probable Mineral Reserves total 10.7 million ounces of gold as of December 31, 2023, a 2% increase from
10.5 million ounces at the end of 2022 with grades also increasing 1%. This reflected increases at Island Gold, Lynn Lake and
PDA which more than offset mining depletion of 728,000 ounces in 2023. Depletion in 2023 was higher than in 2022 reflecting
the 15% increase in production, as well as the stacking of lower recovery/higher-grade stockpiled ore at Mulatos.
Island Gold continues to grow with an 18% increase in Mineral Reserves to 1.7 million ounces, net of depletion, at slightly
lower grades of 10.30 g/t Au. This marked the 11th consecutive year that Mineral Reserves have increased at Island Gold. The
majority of the growth was in proximity to existing underground infrastructure within the main zone and multiple recently
defined zones in the hanging wall and footwall. Given the large and growing Mineral Resource base, emerging opportunities in
the hanging wall and footwall, and with the deposit open laterally and at depth, this long term trend of growth is expected to
continue.
Mulatos District Mineral Reserves decreased 14% to 1.5 million ounces while grades increased 39% to 2.71 g/t Au. This
reflected depletion of lower-grade open pit ore from the main Mulatos pit, stockpiled ore and La Yaqui Grande, partly offset by
higher-grade additions from the PDA underground deposit. PDA continues its significant pace of growth with a 33% increase in
Mineral Reserves to 1.0 million ounces, at 16% higher grades of 5.61 g/t Au. A development plan incorporating the larger,
higher-grade Mineral Reserve at PDA is expected to be completed later this quarter and outline a significant mine life
extension at Mulatos.
Lynn Lake’s Mineral Reserve base increased 13% to 2.3 million ounces as incorporated into the updated Feasibility Study
completed on the project in August 2023. The study outlined a larger, longer-life, low-cost operation, with attractive economics
and significant exploration upside, including through a number of satellite deposits in proximity to the planned mill.
Young-Davidson offset the majority of mining depletion in 2023 resulting in a small decrease in Mineral Reserves (74,000
ounces) to 3.3 million ounces at slightly lower grades of 2.31 g/t Au. The deposit remains open at depth and to the west, and
drilling in 2024 will be focused on extending mineralization within the Young-Davidson syenite, which hosts the majority of
Mineral Reserves and Resources. Drilling will also test the hanging wall and footwall of the deposit where higher grades have
been previously intersected.
A detailed summary of Proven and Probable Mineral Reserves as of December 31, 2023, is presented in Table 1 at the end of
this press release.
An infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4f3e66dc-a027-4f9f-b45d-
b7a86310c698
Mineral Resources
Global Measured and Indicated Mineral Resources (exclusive of Mineral Reserves) increased 12% to total 4.4 million ounces
with grades also increasing 9% to 1.27 g/t Au, as of December 31, 2023. The majority of the increase was driven by the
significant growth in higher-grade Mineral Resources at Island Gold, along with additions at Young-Davidson and Mulatos.
Global Inferred Mineral Resources increased 3% to total 7.3 million ounces with grades also increasing 1%, as of December
31, 2023, reflecting additions at Island Gold and Lynn Lake.
Detailed summaries of the Company’s Measured and Indicated Mineral Resources and Inferred Mineral Resources as of
December 31, 2023, are presented in Tables 3 and 4, respectively, at the end of this press release.
Island Gold
Island Gold’s significant pace of growth continued with Mineral Reserves and Resources increasing 16% across all categories
to 6.1 million ounces, net of depletion. Combined Mineral Reserves and Resources have now increased for eight consecutive
years with grades also increasing substantially over that time frame. Including mining depletion to date, 7.5 million ounces
have been discovered at Island Gold as it continues to establish itself as one of the highest-grade and fastest-growing deposits
in the world.
Mineral Reserves increased 18% to 1.7 million ounces in 2023, net of mining depletion, at slightly lower grades of 10.30 g/t
Au. This marked the eleventh consecutive year of Mineral Reserve growth. Mineral Reserve additions totaled 394,000 ounces,
more than offsetting mining depletion of 134,000 ounces. The increase was driven by the conversion of existing Mineral
Resources and discovery of new Mineral Reserves, the majority of which are in proximity to existing underground structure.
Converted Mineral Resources were also more than replaced at higher grades reflecting significant additions near existing
infrastructure. This included a 146% increase in Measured and Indicated Mineral Resources to 0.7 million ounces with grades
increasing 23% to 8.73 g/t Au. Inferred Mineral Resources also increased 4% to 3.7 million ounces with grades increasing 7%
to 14.58 g/t Au. The discovery cost of these high-grade Mineral Resources additions averaged an attractive $7 per ounce over
the past year, and $13 per ounce over the past five years.
The growth in Mineral Reserves and Resources across all categories was driven by an expanded underground exploration drill
program targeting high-grade additions in proximity to existing underground infrastructure. This included zones within the main
Island Gold structure (C and E1E Zone), which hosts the majority of Mineral Reserves and Resources, as well as emerging
opportunities outside of the main structure in the hanging wall and footwall.
Underground drilling was completed from existing drill bays, providing improved access and allowing for more optimal drilling
orientations to define and expand the growing number of sub-parallel and high-angle mineralized zones within the hanging wall
and footwall. Initial Mineral Reserves and Resources have been declared and/or increased across a number of these recently
defined and expanding zones which have become significant contributors to the overall growth of the deposit.
A total of 99,000 ounces of Mineral Reserves and 534,000 ounces of Mineral Resources were added in these recently defined
hanging wall and footwall zones. This represented approximately 70% of the total Mineral Reserve and Resource additions in
2023, before depletion. These additions are expected to be low-cost to develop and produce given their proximity to existing
infrastructure. They also provide increasing operational flexibility allowing for multiple mining horizons from the same vertical
and lateral development levels.
Highlights from new additions in the hanging wall and footwall include (Figure 2):
• NS1 Zone (hanging wall): 92,000 ounces of total Mineral Reserves and Resources, including 24,000 ounces of
Mineral Reserves grading 11.12 g/t Au. NS1 was defined early 2023 and was being developed and mined by the end
of the year highlighting the near term opportunities with these zones. The zone is a north-striking, high-angle structure
adjacent to main C-Zone. It has been defined over an average strike of approximately 70 m, with vertical continuity of
450 m, and remains open up and down dip
• NTH Zones (footwall): 146,000 ounces of total Mineral Reserves and Resources, including 53,000 ounces of
Mineral Reserves grading 11.98 g/t Au. The NTH Zones are located 10 to 150 m north of the main E1E-Zone and
remain open in multiple directions
• E1D Zone (footwall): 332,000 ounces of Inferred Mineral Resources grading 15.63 g/t Au, a 149,000 ounce
increase from 2022. Located on average 30 m from the main E1E-Zone in Island East and remains open in multiple
directions
These zones and other targets within the hanging wall and footwall represent significant opportunities for further growth. There
are nearly 2,000 previous drill hole intersections above 3 g/t Au outside of existing Mineral Reserves and Resources in the
hanging wall and footwall, highlighting the opportunity for further near-mine, high-grade additions, as ongoing drilling further
defines these areas.
A total of $19 million has been budgeted for exploration at Island Gold in 2024, up from $15 million spent in 2023 with both a
larger near mine and regional exploration program. Consistent with the 2023 program, the majority of the 2024 mine
exploration program will be comprised of underground drilling with 41,000 m planned.
The focus will be the definition of new Mineral Reserves and Resources in proximity to existing production horizons and
infrastructure, as well as the conversion of the large existing Mineral Resource base to Reserves. This includes drilling across
the strike extent of the main Island Gold Deposit (E1E and C-Zones), as well as within the growing number of newly defined
hanging-wall and footwall zones. To support the underground exploration drilling program, 460 m of underground exploration
drift development is planned to extend drill platforms on the 850, 945, and 1025 levels.
Additionally, 12,500 m of surface exploration drilling has been budgeted targeting high potential areas within the Island West,
Main and East ore shoots, the up-plunge extension of the Island West ore shoot, and evaluating the potential for high-grade
mineralized hanging wall structures near surface.
In addition to the exploration budget, 32,000 m of underground delineation drilling has been planned and included in sustaining
capital for Island Gold which will be focused on the conversion of the large Mineral Resource base to Mineral Reserves. Island
Gold’s Mineral Resources continue to convert to Reserves at a rate of greater than 90% since the 2017 acquisition. The
majority of Mineral Resources are located within the same structure with consistent controls on mineralization as existing
Mineral Reserves. This is expected to support a similar high rate of conversion as exploration drifts are advanced closer to
these Mineral Resources blocks to allow for additional drilling from underground.
The regional exploration program has also been expanded to 10,000 m. The 2024 program will follow up on high-grade
mineralization intersected at the Pine-Breccia and 88-60 targets, located 4 kilometres ("km") and 7 km, respectively, from the
Island Gold mine. Drilling will also be completed in proximity to the past-producing Cline and Edwards mines, as well as at the
Island Gold North Shear target. A comprehensive data compilation project will also commence across the broader 40,000
hectare Manitou land package that was acquired in 2023 in support of future exploration targeting.
Significant growth and upside to Phase 3+ Expansion Study
The Phase 3+ Expansion Study (“Phase 3+ Study”) released in June 2022 was based on Mineral Reserves and Resources at
the end of 2021, which totaled 5.1 million ounces and supported an 18 year mine life. Since then, Mineral Reserves and
Resources have increased 21%, or 1.0 million ounces with grades also increasing, highlighting the significant ongoing growth
of the deposit, as well as upside to the Phase 3+ Study.
Applying the same Mineral Resource conversion rate as the Phase 3+ Study, Island Gold’s mine life has been extended to
more than 20 years, net of two years of depletion. With the main Island Gold deposit open laterally and down-plunge, and a
growing number of opportunities being defined in the hanging wall and footwall, there is excellent potential for this growth to
continue.
An infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aed5a651-d087-405f-bfbb-
4c76911f4c33
Mulatos District
Total Mulatos District Mineral Reserves decreased 14% to 1.5 million ounces, with grades increasing 39% to 2.71 g/t Au. This
reflected depletion of lower-grade open pit ore from the main Mulatos pit, stockpiled ore, and La Yaqui Grande, partly offset by
higher-grade additions from the PDA underground deposit.
The PDA continues to grow with Mineral Reserves increasing 33% to 1.0 million ounces at 16% higher grades of 5.61 g/t Au.
This was driven by a tightly spaced step out drill program which not only expanded the size of the deposit, but also improved
continuity and better defined its geometry resulting in another increase in grades. Over the past two years, PDA’s Mineral
Reserves have more than doubled, at 20% higher grades.
Combined Mineral Reserves and Resources also increased 26% in 2023 to total 1.2 million ounces. With the deposit open in
multiple directions, and another significant exploration program planned for PDA in 2024, there is excellent potential for this
growth to continue. Over the past three years, discovery costs at PDA have averaged $19 per ounce.
PDA is located adjacent to the Mulatos pit with the underground deposit expected to be accessed from a ramp and
development drifts from within the pit. A development plan for PDA incorporating the growth in Mineral Reserves is expected to
be completed later this quarter. This is expected to more than double the Mulatos District mine life from the approximately four
years remaining at La Yaqui Grande.
Total Measured and Indicated Mineral Resources in the Mulatos District increased 12% from the end of 2022 to 0.6 million
ounces grading 1.51 g/t Au. Inferred Mineral Resources decreased to 0.1 million ounces grading 1.07 g/t Au.
A total of $19 million has been budgeted at Mulatos for exploration in 2024, similar to spending in 2023. The near-mine and
regional drilling program is expected to total 55,000 m. This includes 27,000 m of surface exploration drilling at PDA and the
surrounding area.
Given the ongoing growth of the PDA deposit, other higher-grade sulphide opportunities will be targeted within the Mulatos
District in 2024. This includes an initial 2,000 m of follow up drilling at the previously mined Cerro Pelon deposit where high-
grade mineralization was intersected north of the mined-out open pit in 2015. This included 14.47 g/t Au over 50.30 m
(15PEL012) and 9.65 g/t Au over 34.60 m (15PEL020).
Within the regional exploration program, 26,000 m has been budgeted. Nearly half will be focused on the Capulin target
located 4 km from the Mulatos pit where significant, wide intervals of oxide and sulphide gold mineralization were intersected
in 2023. This included the previously reported 2.01 g/t Au over 82.45 m core length (23REF012), and 2.73 g/t Au over 120.85 m
core length, including 9.31 g/t Au over 29.05 m (23REF022). The remainder of the regional program will be focused on drilling
at other high priority targets, including Cerro Pelon West and South.
Young-Davidson
Young-Davidson’s Mineral Reserves decreased 74,000 ounces to 3.3 million ounces at slightly lower grades of 2.31 g/t Au. A
total of 131,000 ounces were added through the conversion of existing Mineral Resources which replaced 64% of mining
depletion of 204,000 ounces in 2023.
Measured and Indicated Mineral Resources increased 11% to 1.1 million ounces grading 3.01 g/t Au. Inferred Mineral
Resources were down slightly to 0.1 million ounces grading 3.26 g/t Au.
Based on ongoing underground mining rates of 8,000 tonne per day, the Mineral Reserve life of the Young-Davidson mine
remains approximately 15 years as of December 31, 2023. Young-Davidson has maintained at least a 13-year Mineral Reserve
life since 2011, reflecting a strong track record of Mineral Resource conversion. With the deposit open at depth and to the
west, there is excellent potential to further extend its Mineral Reserve life.
A total of $12 million has been budgeted for exploration at Young-Davidson in 2024, up from $8 million spent in 2023. This
includes 21,600 m of underground exploration drilling, and 1,070 m of underground exploration development to extend drill
platforms on multiple levels.
The majority of the underground exploration drilling program will be focused on extending mineralization within the Young-
Davidson syenite, which hosts the majority of Mineral Reserves and Resources. Drilling will also test the hanging wall and
footwall of the deposit where higher grades have been previously intersected.
The regional program has been expanded with 7,000 m of surface drilling planned in 2024, up from 5,000 m in 2023. The focus
will be on testing multiple near-surface targets across the 5,900 hectare Young-Davidson Property that could potentially
provide supplemental mill feed.
Golden Arrow
The Golden Arrow project is a past producing open pit operation located near Matheson, Ontario and 95 km from Young-
Davidson. The project was acquired in 2021 and is expected to provide supplemental mill feed as capacity becomes available
at Young-Davidson.
An initial Mineral Resource was declared on the Golden Arrow project in 2022. This is unchanged over the past year and
includes Measured and Indicated Mineral Resources of 246,000 ounces (6.4 mt grading 1.19 g/t Au) and Inferred Mineral
Resources of 70,000 ounces (2.0 mt grading 1.07 g/t Au).
A total of $2 million has been budgeted at Golden Arrow with 5,000 m of drilling planned in 2024. The focus of the drilling will
be the conversion of existing Mineral Resources into Reserves, and testing near-deposit and early stage exploration targets
across the property. Geotechnical and condemnation drilling will also be conducted as part of a development plan for the
project.
Lynn Lake
Mineral Reserves at Lynn Lake increased 13% to 2.3 million ounces with grades averaging 1.52 g/t Au, as detailed in the
updated Feasibility Study completed in August 2023. Based on the Feasibility Study, the Lynn Lake project has an expected
Mineral Reserve life of 17 years.
Measured and Indicated Mineral Resources decreased to 0.3 million ounces reflecting the conversion to Mineral Reserves.
Inferred Mineral Resources increased slightly to 1.7 million ounces with the majority contained within the Burnt Timber and
Linkwood satellite deposits.
A total of $9 million has been budgeted for exploration at the Lynn Lake project in 2024, up from $7 million spent in 2023. This
includes 15,500 m of drilling focused on the conversion of Mineral Resources to Mineral Reserves at the Burnt Timber and
Linkwood deposits, and to evaluate the potential for Mineral Resources at Maynard, an advanced stage greenfield target.
Burnt Timber and Linkwood contain Inferred Mineral Resources totaling 1.6 million ounces grading 1.1 g/t Au (44 mt) as of
December 31, 2023. The Company sees excellent potential for this to be converted into a smaller, higher quality Mineral
Reserve which could be incorporated into the Lynn Lake project given its proximity to the planned mill. This represents
potential production and economic upside to the Feasibility Study. A development plan outlining this upside is expected to be
completed during the fourth quarter of 2024.
Burnt Timber and Linkwood are accessible by an all-season gravel road from Highway 397, 24 km and 28 km from the
proposed MacLellan mill, respectively. The Maynard target is located 5 km northwest of the Linkwood deposit, 1 km from the
all-season gravel road, and 20 km from the proposed MacLellan mill.
The Company will also continue evaluating and advancing a pipeline of prospective exploration targets within the 58,000-
hectare Lynn Lake Property in 2024.
Kirazlı, Ağı Dağı, Çamyurt and Quartz Mountain
Mineral Reserves and Resources for the Kirazlı, Ağı Dağı, Çamyurt and Quartz Mountain projects are unchanged from a year
ago.
Qualified Persons
Chris Bostwick, FAusIMM, Alamos Gold’s Senior Vice President, Technical Services, has reviewed and approved the scientific
and technical information contained in this news release. Chris Bostwick is a Qualified Person within the meaning of Canadian
Securities Administrator’s National Instrument 43-101 (“NI 43-101”). The Qualified Persons for the National Instrument 43-101
compliant Mineral Reserve and Resource estimates are detailed in the following table.
Mineral Resources QP Company Project
Jeffrey Volk, CPG, FAusIMM Director - Reserves and Resources,
Alamos Gold Inc.
Young-Davidson, Lynn Lake, Golden
Arrow
Tyler Poulin, P.Geo Chief Production Geologist - Island Gold Island Gold
Marc Jutras, P.Eng Principal, Ginto Consulting Inc. Mulatos Pits, PDA, La Yaqui Grande,
Carricito, Ağı Dağı, Kirazli, Çamyurt,
Quartz Mountain
Mineral Reserves QP Company Project
Chris Bostwick, FAusIMM SVP Technical Services, Alamos Gold
Inc.
Young-Davidson, Lynn Lake, PDA
Nathan Bourgeault, P.Eng Chief Mine Engineer - Island Gold Island Gold
Herb Welhener, SME-QP VP, Independent Mining Consultants Inc. La Yaqui Grande, Ağı Dağı, Kirazli
With the exception of Mr. Volk, Mr. Bostwick, Mr. Poulin, and Mr. Bourgeault each of the foregoing individuals are independent
of Alamos Gold.
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 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
All amounts are in United States dollars, unless otherwise stated.
The TSX and NYSE have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note regarding Forward-Looking Statements
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 "expect", "plan", “continue”, “trend”, "estimate", “target”, “budget”, “prospective” 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. Such statements in this news
release include, without limitation, statements with respect to planned exploration programs, focuses, targets and budgets,
potential drilling results and related expectations, expected underground mining rates, costs and expenditures, project
economics, gold price assumptions, potential mineralization, projected ore grades, changes in Mineral Resources and
conversion of Inferred Mineral Resources to Proven and Probable Mineral Reserves, expected mine life, expected Mineral
Reserve life, production potential, development of the Lynn Lake Project and exploration potential, expected increases in the
value of operations, expected development plan for Puerto Del Aire 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.
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.