Alamos Gold celebrates 20 years

Alamos Gold was founded 20 years ago with a market capitalization of less than $50 million, the Mulatos project, and a vision. Today, Alamos is a growing, diversified intermediate gold producer with a market capitalization of more than $4 billion. With a portfolio of high- quality operations in Canada and Mexico, and a strong, fully funded development pipeline, their outlook has never looked stronger.

Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This

Alamos Lynn Lake Project gets nod of approval

Alamos Gold’s 2023 operating year got off to a flying start when its Lynn Lake project in Northern Manitoba received a positive decision statement in March during the PDAC Convention by the Minister of Environment and Climate Change of Canada.

This came after Alamos completed and submitted a federal Environmental Impact Assessment (“EIS”) to the Impact Assessment Agency of Canada. As well, in accordance with the Environment Act of Manitoba, the Province issued Environment Act Licenses for the MacLellan and Gordon sites.

“Achieving both of these important regulatory milestones for the Lynn Lake Gold Project represents a multi-year, collaborative effort by our team and our commitment to environmental sustainability,” said John A. McCluskey, President and Chief Executive Officer.

“Having achieved these milestones, Alamos will continue obtaining other project related permits,” McCluskey added. “The negotiation of formal agreements with directly affected First Nations will also continue.” 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. Alamos Gold closed 2022 off with their strongest performance of the year. This included record production and their lowest costs of the year driving stronger free cash flow of $18 million in the fourth quarter. The company met their full year production and cost guidance, with the latter coming in below the mid-point of guidance, a solid result given industry-wide cost pressures. “This reflects not only the strong ongoing operational performance of all three mines, but the quality of our assets,” said John A. McCluskey, President and Chief Executive Officer.

Since the completion of the 2017 Feasibility Study on the Lynn Lake Project, exploration success around the Gordon and MacLellan deposits have driven a 27% increase in mineral reserves to 2.1 million ounces of gold (36.5 million tonnes grading 1.75 grams per tonne of gold (“g/t Au”). This growth along with additional exploration success over the past several years will be incorporated by Alamos into an updated Feasibility Study which is expected to be completed during the first half of 2023.

“Lynn Lake is a significant opportunity to drive the future growth of our business in Canada, with the potential to increase our annual production to approximately 800,000 ounces of gold per year,” noted McCluskey.

As outlined in their three-year guidance, Alamos expects this trend to continue with a 9% increase in production in 2023 and 17% decrease in all-in sustaining costs by 2025. The company is also making significant progress on the Phase 3+ Expansion at Island Gold which will be the driver of a further increase in production and lower costs once completed in 2026. Additionally, Alamos continues to add value through exploration with Mineral Reserves increasing for the fourth consecutive year, at 3% higher grades. This reflects higher-grade addi-

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