Alamos Gold Extends High-Grade Mineralization at Island Gold Mine Step-out drilling continues to intersect high-grade gold mineralization along-strike and down-plunge from existing Mineral Reserves and Resources

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 Extends High-Grade Mineralization at Island Gold Mine

Step-out drilling continues to intersect high-grade gold mineralization along-strike and

down-plunge from existing Mineral Reserves and Resources

Toronto, Ontario (May 24, 2018) – Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the

“Company”) today reported new results from the ongoing surface and underground exploration

drilling programs at the Island Gold Mine. Early results from the 2018 exploration program have

been successful in extending high-grade gold mineralization along-strike and down-plunge from

existing Mineral Reserves and Resources across three main areas of focus: the Main Extension;

the Eastern Extension; and the Western Extension . All reported lengths are true width of the

mineralized zones.

 Main Extension: step -out drilling continues to intersect high -grade gold

mineralization which extends up to 900 metres ( “m”) east of current Mineral

Reserves, and remains open down-plunge. New highlights include:

 32.06 g/t Au (14.18 g/t cut) over 4.10 m;

 17.10 g/t Au (12.72 g/t cut) over 6.33 m; and

 14.89 g/t Au (10.18 g/t cut) over 3.40 m.

 Eastern Extension: high -grade mineralization extended east outside of Inferred

Mineral Resources and remains open down-plunge. New highlights include:

 71.27 g/t Au (42.14 g/t cut) over 4.92 m;

 44.28 g/t Au (30.55 g/t cut) over 5.97 m;

 47.68 g/t Au (19.26 g/t cut) over 3.69 m; and

 35.15 g/t Au (13.42 g/t cut) over 4.29 m.

 Western Extension: high-grade mineralization intersected outside of Inferred

Mineral Resources, extending mineralization down-plunge. New highlights include:

 31.54 g/t Au (31.54 g/t cut) over 5.07 m.

 Infill drilling of Inferred Mineral Resource s returns high -grade intersections,

confirming continuity of mineralization which is expected to support Mineral

Resource conversion. New highlights include:

 127.90 g/t Au (69.18 g/t cut) over 6.38 m;

 58.80 g/t Au (44.22 g/t cut) over 8.78 m;

 134.37 g/t Au (15.48 g/t cut) over 3.04 m;

 95.48 g/t Au (25.02 g/t cut) over 2.86 m;

 93.55 g/t Au (18.59 g/t cut) over 2.66 m;

 53.37 g/t Au (46.54 g/t cut) over 3.94 m;

 30.37 g/t Au (30.37 g/t cut) over 6.36 m; and

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 41.30 g/t Au (22.85 g/t cut) over 4.64 m.

 Exploration budget increased 20% to $18 million for 2018. Two additional surface

rigs have been mobilized, bringing the total number of surface rigs to six

Note: Drillhole composite intervals reported as “cut” include higher grade samples which have been cut to 225 g/t

Au, 80 g/t Au, or 70 g/t Au depending on the zone. Refer to drill hole composite interval summary tables in this

release for more information.

“Island Gold continues to exceed expectations. 2017 exploration increased Mineral Reserves

in both size and quality. Results this year are demonstrating the potential to enlarge the Mineral

Resource across multiple extensions of the ore body. We have increased our exploration budget

to fund eight drill rigs to accelerate our drilling progress through the remainder of the year,” said

John A. McCluskey, President and Chief Executive Officer.

2018 Island Gold Mine Exploration Budget Increased

Reflecting the exploration success to start the year, the 2018 exploration budget for Island Gold

has been increased to $18 million, up from the initial budget of $15 million. This includes the

addition of two surface drill rigs, bringing the total number of surface drills to six.

The 2018 exploration drilling program continues to build on the positive results from the 2017

program which resulted in an 18% increase in mineral reserves to 887,000 ounces (2.7 million

tonnes grading 10.20 g/t Au), net of mining depletion, and an 11% in crease in grade to 10.20

g/t Au (as of December 31, 2017). This is a continuation of a strong trend since 2014 which has

seen Mineral Reserves increase by 383% in terms of ounces, and 60% in terms of grade. A

major part of this growth was a result of the successful ongoing directional exploration drilling

program started in 2015 which focused on upgrading a portion of the large Inferred Mineral

Resource base.

2018 Drilling Program – Island Gold Mine

The 2018 exploration drilling program is targeting three main areas along the two kilometre long

Island Deposit Main Zone, as shown in Figure 1. The focus is on expanding the down-plunge

and lateral extensions of the Island Gold Deposit with the objective of adding new near -mine

Mineral Resources.

Drill ho les in the Main and Western Extension areas are testing high-grade, east-plunging

shoots below existing Mineral Reserves and Resources. Drill holes in the Eastern Extension

are exploring for additional plunging shoots along strike beyond existing Mineral Reserves and

Resources.

With the expanded exploration budget, 45,000 m of surface directional exploration drilling is

now planned for 2018, up from 33,000 m. The 2018 program also includes 30,000 m for

underground exploration drilling, 35,000 m for undergro und delineation drilling, and 15,000 m

for regional exploration drilling.

The underground delineation drilling program is focused on converting Inferred Mineral

Resources into Indicated Mineral Resources. This drilling is being conducted primarily from the

620 and 840 levels.

Drilling completed to date in 2018 includes 115 drill holes for a total of 33,800 m. This includes

13,850 m of surface exploration drilling, 12,550 m of underground exploration drilling and 7,400

m of underground delineation drilling.

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Main Extension

Exploration drilling in the Main Extension area is targeting the down-plunge continuation of

gold mineralization below existing Mineral Reserves and Resources (Figure 2). Previously

released drilling completed in 2017 in this area intersected:

 32.41 g/t Au (19.85 g/t cut) over 8.40 m (MH8-4);

 23.23 g/t Au (11.67 g/t cut) over 9.42 m (MH2A-12);

 11.36 g/t Au (11.36 g/t cut) over 3.57 m (MH10-3); and

 46.81 g/t Au (20.60 g/t cut) over 1.97 m (MH10-2).

The 2018 surface drilling program continues to expand gold mineralization, currently intersected

up to 900 m down-plunge from existing Mineral Reserves with a drill hole spacing ranging from

75 to 100 m (Figure 2).

Highlights from the new results include (Table 1):

 32.06 g/t Au (14.18 g/t cut) over 4.10 m (MH9-9);

 17.10 g/t Au (12.72 g/t cut) over 6.33 m (MH9-7); and

 14.89 g/t Au (10.18 g/t cut) over 3.40 m (MH11-5).

This east-plunging high-grade ore shoot remains open down -plunge. The ongoing exploration

program is focused on further extending high-grade mineralization with the objective of defining

additional Mineral Resources in this area . A program of directional d rilling (pilot and branch

holes) is being used to efficiently explore targets below 1,000 m from surface.

Western Extension

Surface drilling recently commenced in the Western Extension area, having last been drilled in

early 2017 (Figure 3) . Drilling in th is area is targeting down -plunge of an Inferred Mineral

Resource block that includes previously released high-grade drill hole intersections as follows:

 117.57 g/t Au (49.61 g/t Au cut) over 8.97 m (510-480-12);

 42.77 g/t Au (42.77 cut) over 4.04 m true width (740-471-35);

 38.62 g/t Au (38.62 cut) over 2.42 m true width (740-477-40); and

 16.23 g/t Au (16.23 cut) over 4.41 m true width (425-487-08).

The first down-plunge step-out drill hole of 2018 (MH5-5A) intersected 31.54 g/t Au (cut) over

5.07 m, further expanding this western high-grade shoot.

Drilling will continue to test the Western Extension area using 75 to 100 m spaced step -out

drilling with the objective of expanding the high-grade mineralization where it remains open both

laterally and d own-plunge. A program of directional drilling (pilot and branch holes) is being

used to efficiently explore these targets below 1,000 m from surface.

Eastern Extension

An objective of the 2018 underground exploration drilling program is to expand the high-grade

zone defined from exploration drifts established at the eastern extent of the Island Gold Mine

underground infrastructure (Figure 4).

Drilling from the 620 exploration drift has continued to expand the high-grade mineralization at

depth and to the east and it remains open in both directions.

Highlights from the new results include (Table 2):

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 71.27 g/t Au (42.14 g/t cut) over 4.92 m (620-592-35);

 44.28 g/t Au (30.55 g/t cut) over 5.97 m (620-592-36);

 47.68 g/t Au (19.26 g/t cut) over 3.69 m (620-592-33);

 35.15 g/t Au (13.42 g/t cut) over 4.29 m (620-592-19);

 48.56 g/t Au (32.08 g/t cut) over 2.94 m (620-592-21);

 30.99 g/t Au (21.55 g/t cut) over 3.97 m (620-592-37); and

 22.22 g/t Au (14.10 g/t cut) over 5.40 m (620-592-31).

A potential down-plunge extension of this shoot to the east and at depth is supported by

previously reported surface drills holes which intersected (Figure 4):

 17.85 g/t Au (14.25 g/t cut) over 2.18m (GD-620-01);

 57.43 g/t Au (25.37 g/t cut) over 4.37 m (GD-630-01);

 18.03 g/t Au (14.16 g/t cut) over 11.53m (GD-640-05);

 15.20 g/t Au (8.16 g/t cut) over 2.06 m (GD-640-04); and

 43.26 g/t Au (11.72 g/t cut) over 2.13m (GD-640-05-5).

Drilling will continue to test east of this area in 2018 from underground drill bays established on

the 340 and 620 level exploration drifts.

Underground Delineation Drilling

Underground delineation drilling is also being carried out from the 620 and 840 levels with the

focus on converting Inferred Mineral Resources to Indicated Mineral Resources.

New highlight drill intercepts include (Table 3):

Drill holes from 840 level (Figure 5):

 127.90 g/t Au (69.18 g/t cut) over 6.38 m (840-533-18);

 58.80 g/t Au (44.22 g/t cut) over 8.78 m (840-524-26);

 53.37 g/t Au (46.54 g/t cut) over 3.94 m (840-533-21);

 30.37 g/t Au (30.37 g/t cut) over 6.36 m (840-533-19);

 39.87 g/t Au (39.87 g/t cut) over 4.65 m (840-529-25);

 50.22 g/t Au (44.15 g/t cut) over 3.74 m (840-524-28);

 33.55 g/t Au (33.55 g/t cut) over 3.88 m (840-533-15); and

 33.26 g/t Au (33.26 g/t cut) over 3.78 m (840-533-23).

Drill holes from 620 level (Figure 4):

 134.37 g/t Au (15.48 g/t cut) over 3.04 m (620-592-05);

 95.48 g/t Au (25.02 g/t cut) over 2.86 m (620-592-16);

 93.55 g/t Au (18.59 g/t cut) over 2.66 m (620-592-39);

 41.30 g/t Au (22.85 g/t cut) over 4.64 m (620-592-03);

 54.93 g/t Au (19.69 g/t cut) over 3.13 m (620-592-06);

 48.19 g/t Au (20.64 g/t cut) over 2.98 m (620-592-07);

 59.85 g/t Au (15.08 g/t cut) over 2.06 m (620-586-09); and

 24.75 g/t Au (21.99 g/t cut) over 3.26 m (620-592-17).

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The results from the infill definition drilling within existing Inferred Mineral R esource blocks

confirm the continuity of the high -grade gold mineralization and are expected to support the

conversion of the Mineral Resources in these areas.

Hanging Wall Zones

The Island Gold deposit consists of a number of subparallel mineralized zones, with the majority

of Mineral Reserves and Resources be ing defined in the C Zone and E1E Zones which

constitutes the main production horizons at the Island Gold mine. Highlights of new

intersections in parallel zones and zones in which the lateral continuity is not yet established

(“X” zone) include:

 153.69 g/t Au (46.15 g/t cut) over 2.82 m (D1 Zone, 840-533-26);

 68.06 g/t Au (15.44 g/t cut) over 2.51 m (X Zone, 620-592-15);

 24.98 g/t Au (6.11 g/t cut) over 5.23 m (X Zone, 620-592-15);

 95.46 g/t Au (95.46 g/t cut) over 1.16 m (X Zone, MH11-6); and

 31.71 g/t Au (27.61 g/t cut) over 3.26 m (X Zone, LC-415-04-2).

Additional drilling will be required to further evaluate these high -grade intersections and the ir

potential in both the footwall and hanging wall of the main C and E1E Zones.

Surface Regional Exploration Drilling

A 15,000 m drill program is planned later in 2018 which will drill test targets along the Goudreau

Deformation Zone to the west of the main Island Gold Mine deposit. Drilling is also planned to

test a previous high grade intercept of 9.71 g/t Au (cut) over 5.95 m below the Kremzar gold

deposit.

Qualified Persons

Chris Bostwick, FAusIMM, Alamos Gold’s 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”).

Exploration programs at the Island Gold Mine are directed by Raynald Vincent, P.Eng., M.G.P.,

Chief Geologist at the Island Gold Mine and a Qualified Person within the meaning of NI 43-

101.

Quality Control

Assays for the delineation and exploration drilling were done at LabExpert in Rouyn-Noranda,

PQ. The Corporation inserts at regular intervals quality control (QC) samples (blanks and

reference materials) to monitor laboratory performance. Cross check assays are done on a

regular basis in a second accredited laboratory.

About Alamos

Alamos is a Canadian-based intermediate gold producer with diversified production from four

operating mines in North America. This includes the Young-Davidson and Island Gold mines in

northern Ontario, Canada and the Mulatos and El Chanate mines in Sonora State, Mexico.

Additionally, the Company has a significant portfolio of development stage projects in Canada,

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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 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 "expects", is expected", "anticipates", "plans" or “is planned” , “trends”,

"estimates", "intends" 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. F orward-looking statements in this news release include the statements with

respect to planned exploration programs, costs and expenditures, changes in Mineral Resources and conversion of

Mineral Resources to Proven and Probable Mineral Reserves, 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.

The risks and uncertainties that may cause actual results to differ materially from Alamos' e xpectations include,

among others, risks related to obtaining the permits required to carry out planned exploration or development work,

the actual results of current exploration activities, conclusions of economic and geological evaluations and changes

in project parameters as plans continue to be refined, changes to the price of gold, as well as those factors discussed

in the section entitled "Risk Factors" in Alamos' Annual Information Form and other disclosures by Alamos and its

predecessors available o n SEDAR and EDGAR. Although Alamos has attempted to identify important factors that

could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated,

estimated or intended. Readers are cautioned not t o put undue reliance on forward -looking statements which are

not guarantees of future events, and speak only as of the date made. All of the forward -looking statements made in

this press release are qualified by these cautionary statements.

Cautionary Note to U.S. Investors – Mineral Reserve and Resource Estimates

All Mineral Resource and Reserve estimates included in this news release or documents referenced 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

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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. These definitions differ materially from the

definitions in SEC Industry Guide 7 ("SEC Industry Guide 7") under t he United States Securities Act of 1933, as

amended, and the Exchange Act. Under SEC Industry Guide 7 standards, a "final" or "bankable" feasibility study is

required to report reserves, the three -year historical average price is used in any reserve or cas h flow analysis to

designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental

authority.

In addition, the terms "Mineral Resource", "Measured Mineral Resource", "Indicated Mineral Resource" and "Inferred

Mineral Resource" are defined in and required to be disclosed by NI 43-101 and the CIM Standards; however, these

terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and

registration statements filed with the U.S. Securities and Exchange Commission (the "SEC"). Investors are cautioned

not to assume that all or any part of mineral deposits in these categories will ever be converted into Mineral Reserves.

"Inferred Mineral Resources" have a great am ount of uncertainty as to their existence, and great uncertainty as to

their economic and legal 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; however, the SEC

normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in

place tonnage and grade without reference to unit measures.

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Figure 1: Island Gold Mine Main Zone Longitudinal – 2018 Drilling Target Areas