Minera Alamos Provides Update on Development Plans for Copperstone Gold Mine
Minera Alamos Provides Update on
Development Plans for Copperstone Gold Mine
Toronto, Ontario--(Newsfile Corp. - November 6, 2025) -
Minera Alamos Inc. (TSXV: MAI) (OTCQX:
MAIFF) ("Minera Alamos" or the "Company")
is pleased to announce an update on the development
plans underway for its 100% owned Copperstone Mine gold project ("Copperstone Mine" or the
"Project") located in Western Arizona, along the Walker Lane Belt near the town of Quartzsite. With final
amendments to the existing Mine Plan of Operations ("MPO") submitted in final form in July 2025 and
with approvals expected before year end, the Company is concurrently preparing an updated technical
study that would allow for a positive Board decision for a full restart of the Copperstone project.
Highlights:
The current NI 43-101 compliant technical report - Preliminary Economic Assessment
*1
("PEA")
demonstrates robust project economics, with an after-tax Net Present Value (NPV) of US$66
million at a gold price of US$1,800/oz and over US$200 million at US$2,800/oz. The after-tax
Internal Rate of Return (IRR) ranges from 53.6% to 152.7% across these pricing scenarios.
The underground mining Resource Estimate
*1
for the Copperstone project (US$1,800/oz gold
price) contains 300,000 ounces of Measured and Indicated gold resources (1.2 Mt at 7.7 g/t) and
an additional 197,000 oz of Inferred gold resources (0.97 Mt at 6.3 g/t).
Engineering activities have been ramped up to optimize plans for the mine restart and process
plant installation.
An updated technical study is planned for release in the first half of 2026 to
demonstrate the positive impact of these efforts which, when combined with the current elevated
gold prices, will allow the Board of Directors to make a production decision soon after.
Under the authorization of the existing permits, site development activities can be initiated in
parallel with the pending MPO amendment to "fast-track" the project restart.
An inexpensive
transfer of existing process plant equipment currently owned by the Company to the Copperstone
site is underway and is expected to be largely complete prior to year end 2025 so work can begin
on its refurbishment and installation.
An extensive review of existing exploration data has concluded that the gold mineralization at the
Copperstone project appears to be typical of an iron oxide-copper-gold (IOCG) deposit hosted by
a shallow dipping thrust fault zone.
The implications of the new geological interpretation and
evaluation are that the mineralized underground mining zones drilled previously may continue to
depths significantly beyond what was previously mined.
Further, potential shallow, open pit
accessible gold mineralization also occurs in areas that outcrop immediately adjacent to the
historic open pit operations which is reported to have produced over 500,000 ounces of gold from
the late 1980s through the early 1990s.
*1
"National Instrument 43-101 Technical Report: Preliminary Economic Assessment for the Copperstone Project, La Paz County, Arizona, USA"
with an effective date of February 6, 2025.
Darren Koningen, CEO of Minera Alamos commented
: "The impact of current gold prices on the
overall economics of the Copperstone mine cannot be overstated. While the Company awaits the
receipt of the final approvals for the Copperstone project our technical teams have been extremely busy
planning for the fast-track restart of operations while gaining a better understanding of the significant
resource upside potential for the entire project area.
The Company is concurrently preparing an updated
technical report to quantify these impacts on the overall restart plans while also ensuring that the rebuilt
processing facilities incorporate maximum operating flexibility to accommodate future growth for the
project.
Combining this work with the new geological insights offers an exciting opportunity for the
Copperstone mine to significantly increase the Company's gold production and free cash flow profile
well beyond the previously published PEA expectations."
Permitting
The final version of the Mine Plan of Operations ("MPO") amendment for the Copperstone project has
been submitted to meet the requirements of Title 43, Subpart 3809 of the United States Code of Federal
Regulations, as administered by the U.S. Bureau of Land Management ("BLM").
This application
represents the primary permitting milestone for a restart of operations at the site and is expected to be
received prior to YE-2025.
While awaiting its receipt a number of other minor amendments to other
existing site permits are also being prepared.
This includes:
An update to Aquifer Protection Permit (APP) which is expected to be submitted shortly, followed
by an amendment to Air Quality Control Permit under the Title V Class I air quality permit program.
A minor revision to the reclamation plan, reflecting modest changes to the process plant
infrastructure, is anticipated to be completed in the second half of the year, with final approval of
the closure plan expected by the end of the year.
Around the end of 2025, the Company is expected to have secured all required permit amendments for
the Copperstone project to support a planned restart of gold mining operations in 2026.
Engineering and Development Activities
Management has identified several opportunities to enhance the value of the Copperstone project that
will be evaluated during the current development phase. The Company is considering various
engineering, procurement, construction, and management approaches, including hybrid models that
maximize the use of internal expertise to ensure an efficient and cost-effective transition from
development to mining operations. Additional opportunities include:
Mining
- Evaluate whether gold mineralization previously determined to be lower-grade material
can now be included in the updated mine plan under current economic conditions and if access
costs are minimized by pre-developed stopes.
Additional efforts will focus on optimizing mine
design, including access points, ventilation raises, and adjustments to stope heights and widths.
Process Plant
- Assess opportunities to ensure excess capacity exists within the new plant
facilities so that future increases in plant throughput are possible in line with higher mining rates
and potential resource expansion.
Additional metallurgical studies are to be completed to
maximize process flexibility assuming additional resource zones will ultimately be added to the
mine plan.
Used Equipment
- Finalize engineering details in order to maximize the use of used equipment to
reduce capital costs and lead times, including equipment already owned by the Company.
Exploration Activities
A recent review of the Copperstone gold project was completed by the Company and comprised
inspections of available drill core along with field investigations of the gold mineralization as exposed in
the open pit and underground workings.
The main results of this program are summarized below.
The gold and subsidiary copper mineralization is confirmed to be hosted by a shallowly northeast-
dipping fault zone, which is suspected to be a thrust rather than an extensional listric normal fault as
traditionally assumed.
The gold mineralization occurs with stockworks of specular hematite partly transformed to
magnetite, an association typical of iron oxide-copper-gold (IOCG) deposits.
An IOCG affiliation
implies that gold mineralization could be developed over a large vertical extent rather than being
confined to a shallow, near-surface interval as would be dictated by an epithermal interpretation
(historical deposit interpretation)
.
The current underground mining resource area appears to be open both along strike and at depth
(see Figure 1 below).
Potential shallow open-pit, lower-grade gold mineralization occurs close to the current pit limits,
especially to the southeast.
The Copperstone deposit appears to be hosted by one of a stacked series of faults, with others
inferred from previous drilling to occupy a footwall position farther southwest.
Shallow, up-dip parts
of these gold-mineralized footwall structures may be followed and drill defined to develop
additional open-pit resource potential.
Figure 1.
Copperstone drillhole identified mineralization (looking NNW)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4183/273398_minera%20alamos%201.jpg
A Phase 1 drill program is currently being finalized for the Copperstone project. The program is
expected to begin in Q1, 2026 and will initially focus on shallow mineralization adjacent to the current
historic open pit and areas along strike and at depth of the currently outlined underground resources.
While this work program is underway the Company's exploration team will also be evaluating the
potential of new mineralized structures outside of the current area which had previously been identified
by historic exploration drill programs.
PEA Cautionary Note
Readers are cautioned that the PEA is preliminary in nature and includes inferred resources that are
considered too speculative to have the economic considerations applied to them that would enable them
to be categorized as mineral reserves.
There is no certainty that the PEA results will be realized.
Mineral
resources are not mineral reserves and do not have demonstrated economic viability.
Additional work is
needed to upgrade these mineral resources to mineral reserves.
Qualified Person
Mr. Darren Koningen, P. Eng., Minera Alamos' CEO, is the Qualified Person responsible for the
technical content of this press release under National Instrument 43-101.
About Minera Alamos
Minera Alamos is a gold production and development Company. The Company owns and operates the
Pan heap leach gold mine in Nevada and owns two development projects near the Pan mine. The
Company also owns the Copperstone mine and associated infrastructure in La Paz Country, Arizona, an
advanced development asset with a permitted plan of operations that can be developed in parallel with
planned project advancements in Mexico. The Company maintains a portfolio of high-quality Mexican
assets, including the 100%-owned Santana open-pit, heap-leach mine in Sonora. The 100%-owned
Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical
work completed and the proposed mining project is currently being guided through the permitting
process by the Company's permitting consultants. The La Fortuna open pit gold project in Durango
(100%-owned) has a positive, robust PEA completed, and the main Federal permits are in place.
Minera Alamos is built around its operating team that together brought three open pit heap leach gold
mines into successful production in Mexico over the last 14 years.
The Company's strategy is to develop
very low capex assets while expanding the projects' resources and continuing to pursue complementary
strategic acquisitions.
For Further Information, Please Contact:
Minera Alamos Inc.
Darren Koningen, Chief Executive Officer
Tel: 416-306-0990 ext 201
Email:
Website:
www.mineraalamos.com
Darren Blasutti, EVP Corporate Development
Tel: 416-306-0990 ext 208
Email:
Caution Regarding Forward-Looking Statements
This press release includes certain "forward-looking information" within the meaning of applicable
Canadian securities legislation. All information herein, other than information of historical fact, constitutes
forward-looking information. Forward-looking information is frequently, but not always, identified by
words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and
similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should"
occur or be achieved. This information is based on information currently available to Minera Alamos and
Minera Alamos provides no assurance that actual results will meet management's expectations.
The forward-looking information is based on assumptions and addresses future events and conditions
that, by their very nature involve inherent risks and uncertainties. Actual results could differ materially from
those currently anticipated in forward-looking information for many reasons. Minera Alamos' financial
condition and prospects could differ materially from those currently anticipated in forward-looking
information for many reasons such as: an inability to receive requisite permits for mine operation,
exploration or expansion; an inability to finance and/or complete updated resource and reserve
estimates and technical reports which support the technical and economic viability of mineral production;
changes in general economic conditions and conditions in the financial markets; changes in demand
and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties encountered in connection with
Minera Alamos' activities; and other matters discussed in this press release and in filings made with
securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos'
forward-looking information. These and other factors should be considered carefully, and readers should
not place undue reliance on Minera Alamos' forward-looking information. Minera Alamos does not
undertake to update any forward-looking information that may be made from time to time by Minera
Alamos or on its behalf, except in accordance with applicable securities laws.
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