Alamos Gold Stock

Alamos Gold Inc. (Alamos) operates as a mining company. The company engages in the mining and extraction of, and exploration for, precious metals, primarily gold. Alamos owns and operates the Young-Davidson mine (the Young-Davidson Mine), the Island Gold mine (the Island Gold Mine) in Ontario, Canada, and the Mulatos mine (the Mulatos Mine) in the state of Sonora, Mexico.

In 2022, the Young-Davidson Mine produced 192,200 ounces of gold, the Island Gold Mine produced 133,700 ounces of gold, and the Mulatos Mine produced 134,500 ounces of gold for total gold production in 2022 of 460,400 ounces. Alamos also owns the development-stage Lynn Lake Gold Project in Lynn Lake, Manitoba (referred to herein as the Lynn Lake Gold Project or Lynn Lake), the Agi Dagi, Kirazli, and Çamyurt Projects in the Biga district of northwestern Türkiye, and the option to acquire the Quartz Mountain Property in Oregon, United States of America (U.S.).

Mineral Properties

The company considers its Young-Davidson Mine, Island Gold Mine, and Mulatos Mine its material mineral projects for purposes of NI 43-101.

Young-Davidson Mine

The Young-Davidson Mine is located near the town of Matachewan, approximately 60 km west of Kirkland Lake in northern Ontario. The property consists of contiguous mineral leases and claims totaling approximately 5,720 hectares and is situated on the site of two past-producing mines that produced almost one million ounces of gold between 1934 and 1957. The Young-Davidson Mine consists of an underground mine, currently mining at a rate of approximately 8,000 tpd, a conventional flotation and carbon-in-leach (CIL) mill, and associated infrastructure. The Young-Davidson Mine is located in northern Ontario, Canada, centrally located between Timmins, Kirkland Lake, North Bay, and Sudbury, each of which has businesses that service the mining industry.

The company holds 100% of the mineral rights to all of the Mineral Resource related claims at the former Young-Davidson Mine and the adjoining Matachewan Consolidated Mines Limited Mine (the MCM Mine), which together comprise the modern-day Young-Davidson Mine. The company also owns or holds the rights and/or interest to tenures consisting of patented fee simple and/or patented leasehold mineral rights and surface rights claims, a mining licence of occupation, and unpatented cell claims, covering approximately 5,915 hectares surrounding and including the Young-Davidson Mine. References to the Young-Davidson Mine or Young-Davidson are inclusive of the contiguous claim block that covers the Young-Davidson Mine. The 2022 drilling program consisted of 11,786 m of underground exploration drilling in 18 holes from the mid and lower-mine infrastructure, and 31,053 m of definition drilling in 182 drill holes. A total of 9,831 m of surface exploration drilling was completed in 21 holes.

Island Gold Mine

The Island Gold Mine is located approximately 83 km northeast of Wawa, in northern Ontario. Island Gold consists of an underground mine, currently mining at a rate of approximately 1,200 tonnes per day (tpd), a conventional carbon-in-pulp (CIP) mill, and associated infrastructure. The company acquired Island Gold through its 2017 acquisition of Richmont Mines Ltd. The Island Gold Mine is located within the Sault Ste. The company owns or holds 100% of the mineral rights to all the Mineral Resource and Mineral Reserve related claims at the Island Gold Mine. The company holds 100% of the title and/or interest to the Island Gold Mine and its surrounding project lands (collectively, the Island Gold Property). The Island Gold Property is divided into ten property areas, namely: Argonaut, Edwards, Ego, Goudreau, Goudreau Lake, Island Gold, Kremzar, Lochalsh, Salo, and Trillium consisting of patented fee simple and/or patented leasehold mining rights and surface rights claims, mining licences of occupation and unpatented cell claims covering approximately 15,524 hectares, with the exception of Part of one mining lease, for which it holds 100% below 100 m, on the Lochalsh property; six patented fee simple claims, for which it owns 100% below 400 m, and part of one patented fee simple claim for which it owns 100% below 100 m, both situated on the Goudreau property; four patented fee simple claims, for which it owns 100% below 400 m, situated within the Kremzar property; and three patented fee simple claims, for which it owns 100% below 400 m, on the Argonaut property.

The company controls sufficient surface rights to cover the sites required for all project buildings and fixed installations for the life of mine. In 2022, regional exploration focused on advancing early-stage targets throughout the property including 9,707 m of diamond drilling, a 91 hole basal till/top of bedrock RC drill program, outcrop stripping and channel sampling, and targeted geological mapping and prospecting. In 2022, a total of 94,548 m of diamond drilling was completed in 402 holes at Island Gold. Drilling in 2022 included 30,163 m of surface directional exploration drilling in 31 holes, 19,976 m of standard underground exploration drilling in 89 holes, 9,865 m of underground definition drilling in 92 holes, and 24,837 m of underground delineation drilling in 180 holes. A total of 374 m of underground exploration drift development was also completed in 2022. The focus of the 2022 mine exploration drilling program was to continue to expand the down-plunge and lateral extensions of the Island Gold deposit with the objective of adding new near mine Mineral Resources across the two-km long Island Gold Main Zone. In addition, 9,707 m of surface regional exploration diamond drilling was completed in 14 holes, 1,428 m of reverse circulation drilling was completed in 91-holes. Both exploration drilling programs tested several targets across the 15,524 hectares Island Gold Property.

Mulatos Mine

The Mulatos Mine is located 220 km east of Hermosillo in the state of Sonora in northwest Mexico. The company owns 100% of the Mulatos Mine and several other prospective exploration targets throughout the district. The mine includes a number of open pit mines, two crushing facilities, two heap leaching facilities, a high-grade mill, gold processing facilities, and related infrastructure.

The Mulatos Mine is located in the Sierra Madre Occidental mountain range in the east-central portion of the state of Sonora, Mexico. Alamos controls several large mineral concessions, which are located mostly to the west, southwest, and north-northeast of the Mulatos Mine. A total of 28,973 hectares of mineral concessions, in 44 discrete concessions, are controlled by Alamos. The property is approximately 220 km by air east of the city of Hermosillo, and 300 km south of the United States border. Alamos maintains an administration office in Hermosillo, Mexico which supports the activities and operations of the Mulatos Mine.

The Mulatos group of concessions covers the Mulatos deposit and satellite gold systems known as Cerro Pelon, La Yaqui, El Carricito, El Halcon, Las Carboneras, El Jaspe, Puebla, Los Bajios, and La Dura (the Mulatos Group of Concessions). The Mulatos deposit is itself divided into a number of mineralized zones known as Estrella, Mina Vieja, El Salto, Escondida, Gap, El Victor, El Victor North, San Carlos, Puerto Del Aire (PDA), PDA Extension, and East Estrella. Mineral rights for all concessions comprising the Mulatos Group of Concessions are controlled by Minas de Oro Nacional (MON), the Mexican subsidiary of Alamos. In 2022, 32,301 m of exploration drilling was completed in 119 drill holes at Puerto Del Aire (PDA), Carricito, Halcon, Halcon West, and Refugio.

Mulatos Main Zone

The Mulatos Main Zone is a continuous zone of mineralisation that comprises the La Estrella, La Escondida, Mina Vieja, El Salto, PDA, Gap, El Victor, and El Victor North deposits.

Puerto Del Aire

Exploration drilling recommenced at PDA in 2021 and continued through 2022. PDA is a higher-grade underground deposit located adjacent to the main Mulatos pit, and consists of five mineralized zones – PDA1, PDA2, Gap, Victor, and Estrella. In February 2022, Alamos announced an initial Mineral Reserve at PDA totalling 428,000 ounces (2.85 Mt grading 4.67 g/t Au) as part of the December 31, 2021 Mineral Reserve and Mineral Resource update. In addition to the Mineral Reserve, Measured and Indicated Mineral Resources totalled 124,000 ounces (0.77 Mt grading 5.05 g/t Au).

La Yaqui & La Yaqui Grande

The La Yaqui Project is located approximately 9.5 km southwest of the Mulatos Main Zone.

Ther Mineral Properties

Lynn Lake (Manitoba, Canada)

In December 2017, the company reported results from the positive feasibility study conducted on the Lynn Lake Gold Project, located in northern Manitoba, Canada.

Kirazli, Agi Dagi, and Çamyurt (Türkiye)

On April 20, 2021, the company announced that its wholly-owned Netherlands subsidiaries, Alamos Gold Holdings Coöperatief U.A, and Alamos Gold Holdings B.V., which directly own and control the company’s Turkish assets, will file a BIT claim against the Republic of Türkiye for expropriation and unfair and inequitable treatment, among other things, with respect to their Turkish gold mining projects. The BIT Claim was registered with the International Centre for Settlement of Investment Disputes (World Bank Group) on June 7, 2021.

Sales and Refining

The company’s gold production is refined to market delivery standards by third-party refineries.