Alamos Gold Discovers High-Grade Mineral Deposits in New Zone Adjacent to Young-Davidson Infrastructure

Alamos Reports High-Grade Gold Mineralization at Young-Davidson Mine

Alamos Gold Inc. shared new findings from its underground exploration program at the Young-Davidson mine. The organization uncovered high-grade gold mineralization in zones within the hanging wall of the Young-Davidson deposit, located between 10 and up to 200 meters south of existing infrastructure and Mineral Reserves and Resources. This discovery presents a new style of mineralization at Young-Davidson, situated in hanging wall stratigraphy, including a folded sequence of Timiskaming assemblage conglomerates and sediments. The gold mineralization is associated with 3-20% pyrite and exists in wide, low- to moderate-grade mineralization, as well as within narrower, high-grade structures.

Insight: Exploration Potential and Production Upside

The new high-grade gold mineralization zones found in the hanging wall showcase significant exploration potential outside of the syenite at Young-Davidson. This discovery highlights the possibility of meaningful production upside for the Company. With the deposit still open at depth and to the west, Alamos Gold expects to continue extending gold mineralization within the Young-Davidson syenite. The ongoing exploration drilling program is an essential part of this strategy, with plans to test gold mineralization in the hanging wall of the deposit alongside extending mineralization within the syenite.

2024 Exploration Program Budget Increase

Alamos Gold has allocated $12 million for exploration at Young-Davidson in 2024, up from $8 million spent in 2023. The budget includes 21,600 meters of underground exploration drilling and 1,070 meters of underground exploration development to expand drill platforms on multiple levels. The primary focus of the exploration program is to extend mineralization within the Young-Davidson syenite, where most Mineral Reserves and Resources are hosted.

Enhancing Understanding of Mineralization

To better understand the extent, geometry, and continuity of the high-grade mineralization, additional drilling is being conducted from a newly established drilling pad on the 9620-level at Young-Davidson. A core relogging and sampling program is also set to commence to assess historic surface drilling in the hanging wall that previously underwent limited sampling.

Qualified Persons and Quality Assurance

Alamos Gold ensures stringent Quality Assurance and Quality Control (QA/QC) practices at the Young Davidson Mine to uphold the accuracy and reliability of exploration activities. Scott R.G. Parsons, Alamos Gold’s Vice President of Exploration, and Niels Hendrikx, Geological Superintendent at the Young Davidson Mine, serve as Qualified Persons under Canadian Securities Administrators’ National Instrument 43-101. They oversee and approve the technical information presented in this report.