November 11, 2021 06:50 ET | Source: Alamos Gold Corporation. Alamos Gold Corporation.

Toronto, November 11, 2021 (GLOBE NEWSWIRE) - Alamos Gold Inc. (TSX: AGI; NYSE: AGI) ("Alamos" or "Company") today reported Isl​​ and Gold The new results of surface and underground exploration and drilling of gold mines further extend the high-grade gold mineralization in the middle and lower parts of the east of the island. Unless otherwise stated, all reported borehole widths are the true width of the mineralized zone.

Note: The drilled composite interval reported as "cut" may include higher-grade samples that have been cut to 185 g/ton of gold in the east of the island.

"Island Gold's continued success in exploration continues to demonstrate the tremendous potential for further growth in mineral reserves and resources. This includes the deepest hole drilled in Island Gold to date, at a distance of 300 meters from the existing mineral resources, cross-high-grade mineralization. These results Get close to the planned shaft and highlight the huge upside potential beyond what is outlined in the Phase III expansion study," said President and CEO John A. McCluskey.

New highlights can be found in Tables 1 and 2 and Figures 1 to 3 at the end of this press release.

Surface directional drilling continues to expand high-grade gold mineralization beyond the Mineral Resource block in the lower part of Island East (Figures 1 and 2). New highlights of the drilling plan include (E1E-Zone) (Table 1):

Drill holes MH25-10 (15.86 g/ton gold (10.74 g/ton cutting) over 16.04 meters) and MH25-11 (15.76 g/ton gold (15.76 g/ton cutting) over 10.82 meters) intersecting wide and high grade mineralization The nearest inferred mineral resource blocks to the east of the island are 50 m and 45 m. These drill holes continue to extend the gold mineralization from drill hole MH25-08 (71.21 g/ton gold (39.24 g/ton cut) over 21.33 m), which is the best drill hole in Island Gold's history, and drill hole MH25-04 (28.97 g/t Au (27.96 g/t cutting) over 21.76 m) (all previously released; see press release on June 15, 2021).

In addition, drill holes MH27-02 (11.90 g/ton gold (11.90 g/ton cutting) exceeding 4.60 m) and MH27-01 (9.07 g/ton gold (9.07 g/ton cutting) exceeding 2.12 m) intersect high-grade outlying islands The nearest inferred mineral resource blocks in the east are 300 m and 235 m. Borehole MH27-02 is the deepest hole drilled in Island Gold so far. It intersects with high-grade mineralization at a depth of 1,717 m, which is much lower than the existing mineral resources extending to a depth of approximately 1,500 m. This also extends the high-grade mineralization to within 200 meters of the former Trillium mining right, and strengthens the strategic value of the acquisition of Trillium and the asset in December 2020.

Drill holes MH27-02 and MH27-01 are targeted at the main island gold belt east of a north-south diabase dike, which is located along a pre-existing fault. The current geological interpretation based on the initial drilling is that the area appears to be moving about 140 m north of the fault and closer to the planned bottom hole. Additional drilling will be completed to confirm that these intersections are within the same structure. The results so far highlight the huge potential for further mineral reserves and resource growth, which are much lower than and declining from existing mineral resources, and closer to the planned infrastructure .

The 840-level underground drilling of exploratory wells continued to extend high-grade mineralization, and narrowed the mineral reserves and resource gaps in the middle section of the east of the island (800 meters to 1000 meters depth) (Figure 3). New highlights include (E1E-Zone) (Table 2):

The Island Gold deposit is composed of multiple sub-parallel mineralized zones. Most of the mineral reserves and resources are located in the C and E1E areas, which constitute the main production horizon of the Island gold deposit. The highlights of the new intersection of underground and surface exploration and drilling in parallel areas and areas where lateral continuity has not yet been established ("unknown areas") include (the reported composite interval is the core length) (Tables 1 and 2):

Scott RG Parsons, P.Geo., FAusIMM, Alamos Gold Vice President of Exploration, has reviewed and approved the scientific and technical information contained in this press release. Scott RG Parsons is a qualified person referred to in the National Instrument 43-101 ("NI 43-101") of Canadian Securities Administrators.

The exploration plan of the Island Gold Mine is guided by Raynald Vincent, P.Eng., MGP, the Director of Exploration of the Island Gold Mine, and qualified personnel designated by NI 43-101.

Alamos Gold maintains an internal QA/QC program at the Island Gold Mine to ensure that sampling and analysis of all exploration work is performed in accordance with best practices.

Access to the Island Gold Mine is controlled by security personnel. Under the supervision of a qualified geologist, the core logging and sampling are carried out in the core logging facility on the mine site. The geologist marks the individual samples to be analyzed and enters the sample interval, sample number, standard, and blank into the database. Use a cell saw equipped with a diamond blade to cut the core in half. Put half of the core in a plastic sample bag and seal it with a cable tie for shipment. Return the other half of the core to the core box and keep it for future reference. The samples are placed in large heavy-duty nylon reinforced Fabrene bags, which are identified and sealed before being placed on the tray. The core samples were collected at the mine and shipped to the AGAT laboratory in Thunder Bay, Ontario.

Gold is analyzed by a 50-gram fire assay and has an atomic absorption (AA) surface treatment. The samples larger than 6.5 g/t Au were re-analyzed using the gravimetric finishing method. AGAT is a certified laboratory with an internal quality control ("QC") program, including the insertion of reagent blanks, reference materials, and pulp copies.

The company periodically inserts QC samples (blanks and reference materials) to monitor laboratory performance. The cross-check test is regularly completed in the second-level accredited laboratory. The quality assurance/quality control procedures are more fully described in the SEDAR technical report submitted on August 31, 2020.

Alamos is an intermediate gold producer headquartered in Canada with diversified production in three operating mines in North America. This includes the Young-Davidson and Island gold mines in northern Ontario, Canada, and the Mulatos mine in Sonora, Mexico. In addition, the company has a large number of development stage projects in Canada, Mexico, Turkey and the United States. Alamos has more than 1,700 employees and is committed to the highest standards of sustainable development. The company's stock is traded on the Toronto Stock Exchange and the New York Stock Exchange under the symbol "AGI".

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Unless otherwise stated, all amounts are in U.S. dollars.

TSX and NYSE have not reviewed the adequacy or accuracy of this press release and assume no responsibility for it.

This press release includes certain statements that constitute forward-looking information within the meaning of applicable Canadian and U.S. securities laws ("forward-looking statements"). All statements in this press release, with the exception of statements of historical facts, statements involving events, results, results or developments expected to occur at Alamos are forward-looking statements. Forward-looking statements are usually but not always identified through the use of forward-looking terms, such as "continue", "focus", "estimate" or "potential" or variations of such words and phrases and similar expressions or statements of certain actions , The event or result "may", "may", "will", "may" or "will" be taken, occurred or achieved, or the negative connotations of such terms. In particular, this press release contains forward-looking statements, including but not limited to the surface and underground exploration and drilling of the Island Gold mine, mineral resource estimates, exploration results, potential mineralization, changes in mineral resources and mineral reserves, the third phase of Island Gold Expansion and other information based on forecasts and forecasts of future operational, geological or financial results, undetermined amount estimates, and management assumptions.

Exploration results, including geophysics, sampling, and large-spacing drilling results, may not indicate the existence of a deposit. Such results do not guarantee that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classified as a mineral resource category. Mineral resources classified as "inferred" or "indicated" are subject to great uncertainty regarding their existence and economic and legal feasibility. It cannot be assumed that any or part of "indicated mineral resources" or "inferred mineral resources" will always be upgraded to a higher category of mineral resources. Investors are cautioned not to assume that all or any part of the deposits in these categories will always be converted into proven and probable mineral reserves.

Forward-looking statements are necessarily based on many factors and assumptions. Although management believes that these factors and assumptions are reasonable when making such statements, they are inherently subject to major business, economic, technological, legal, political, and competitive uncertainties and surprises. The impact of the incident. Known and unknown factors may cause actual results to differ materially from those predicted in forward-looking statements, and such statements and information should not be overly relied on.

The forward-looking statements in this press release are based on such factors and assumptions as: actual results of current exploration activities, economic and geological evaluation conclusions, changes in project parameters as the plan continues to improve, and operations that may be affected by the pandemic; COVID- 19 The impact of the pandemic on the wider market; provincial and federal orders or orders in Canada, Mexico, the United States, and Turkey (including ​​regarding general mining operations or ancillary businesses or services required by our business); The duration of the popular regulatory response; changes in national and local government legislation, controls or regulations, failure to comply with environmental, health and safety laws and regulations; availability of labor and contractors (and able to ensure the same on favorable terms); required basis Maintenance or interruption of provision of facilities and information technology systems; price fluctuations of gold or certain other commodities (such as diesel, natural gas, and electricity); operational or technical difficulties associated with mining or development activities, including geotechnical challenges and production estimates Changes (assuming the accuracy of estimated ore grade, mining rate, recovery time, and recovery rate estimates, and may be affected by unplanned maintenance; foreign exchange rate changes (especially Canadian dollars, U.S. dollars, Mexican pesos and Turkish lira); inflationary Impacts; employee and community relations; litigation and administrative procedures; interruptions affecting operations; costs and increased costs associated with mining inputs and labor; delays in the Phase III expansion project of the Island Gold Mine; inherent risks associated with mining and mineral processing Hazards, including environmental hazards, industrial accidents, abnormal or unexpected formations, pressure and landslides; the risk that the company’s mines may not operate as planned; the uncertainty related to the company’s safety capabilities ure additional funds to execute its business plans; mineral exploration and The speculative nature of the development, the risk of obtaining and maintaining the necessary licenses, permits and authorizations, the competition for property ownership; expropriation or nationalization of property; the politics of Canada, Mexico, the United States, Turkey and other jurisdictions where the company may conduct business in the future Or economic development; increased costs and risks associated with the potential impact of climate change; the cost and time of construction and development of new mineral deposits; the risk of losses due to destruction, protests and other civil disturbances; the impact of global liquidity and credit availability, and estimates based on The value of assets and liabilities of future cash flows; and the business opportunities that the company may seek.

For a more detailed discussion of such risks and other factors that may affect the company’s ability to achieve the expectations set out in the forward-looking statements contained in this press release, please refer to the company’s latest 40-F/annual information sheet and management’s discussion and Each analysis under the heading "Risk Factors" on the SEDAR website www.sedar.com or the EDGAR website www.sec.gov. The above content should be reviewed in conjunction with the information in this press release.

Unless required by applicable law, the company assumes no intention or obligation to update or revise any forward-looking statements, whether written or oral, or due to new information, future events or other reasons. 

Note to U.S. Investors-Mineral Reserves and Resource Estimates

All resource and reserve estimates contained in this press release are based on Canadian National Instrument 43-101-Mineral Project Disclosure Standard ("NI 43-101") and Canadian Institute of Mining, Metallurgy and Petroleum ("CIM")-by CIM Director The CIM definition standard ("CIM Standard") on mineral resources and mineral reserves that will be adopted and revised. NI 43-101 is a rule established by the Canadian securities regulatory agency that sets standards for issuers to publicly disclose scientific and technical information about mineral projects. The terms "Mineral Reserves", "Proved Mineral Reserves" and "Probable Mineral Reserves" are Canadian mining terms defined according to NI 43-101 and CIM standards. Investors are reminded not to assume that all or any part of these types of deposits will always be converted into reserves. The existence of "inferred mineral resources" is very uncertain, and its economic and legal feasibility is also very uncertain. It cannot be assumed that all or any part of the inferred mineral resources will always be upgraded to a higher category. According to 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 advised not to assume that all or any part of the inferred mineral resources exist or are economically or legally extractable. Canadian regulations allow the disclosure of "ounces" in mineral resources.

Table 1: Island Gold-Selected composite intervals from surface and underground directional exploration drilling that have not been previously released

The comprehensive range is greater than the weighted average of 3 grams/ton of gold, and the upper limit: Island East @ 185 grams/ton of gold.

Table 2: Island Gold-Selected composite intervals from previously unpublished underground exploration drilling

The comprehensive range is greater than the weighted average of 3 grams/ton of gold, and the upper limit: Island East @ 185 grams/ton of gold.

Table 3: Surface and underground directional boreholes; azimuth angle, dip angle, borehole length and surface casing position (UTM NAD83)

Note: UTM mine surface elevation is 382 m

Table 4: UG exploration boreholes; azimuth, dip, borehole length and ground coupling position (UTM NAD83).

Note: UTM mine surface elevation is 382 m

Figure 1: Island Gold Mine Longitudinal is available from the following website: https://www.globenewswire.com/NewsRoom/AttachmentNg/cfdbd081-4f7b-4a22-9c8d-ea96f837fe26

Figure 2: Detailed longitudinal-surface directional drilling results of the eastern part of the Island Gold Mine are available at the following website: https://www.globenewswire.com/NewsRoom/AttachmentNg/11670b92-9c85-4189-a9c0-a3989d133d6d

Figure 3: Detailed vertical profile of Island Gold Mine East Area-underground drilling results, please visit: https://www.globenewswire.com/NewsRoom/AttachmentNg/c014af72-9c94-4ca9-bc62-818f4b5318cf