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Alamos Gold Continues to Expand High-Grade Mineralization Between Eastern and Main Extensions at Island Gold

Press Release

TORONTO, Sept. 11, 2019– Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today reported new results from surface and underground exploration drilling at the Island Gold Mine, further extending high-grade gold mineralization. All reported drill widths are true width of the mineralized zones, unless otherwise stated.

  • Extending Mineralization in New Area of Focus: high-grade mineralization extended 85 metres (“m”) west and 75 m below the nearest previously reported intersection (MH18-04) in the new area of focus between the Eastern and Main Extensions. All nine holes drilled to date in this previously untested area have intersected the E1E Zone including eight intersecting ore grade gold mineralization over a lateral extent of 300 m. This area is located within a 500 m gap between Inferred Mineral Resource blocks, and is only 1,000 m from surface and relatively close to existing infrastructure. New highlights include:
    • 34.28 g/t Au (24.95 g/t cut) over 8.36 m (MH19-01); and
    • 12.30 g/t Au (12.30 g/t cut) over 6.67 m (MH19-02).
  • Main Extension Down-Plunge: high-grade mineralization extended 50 m east from the nearest previously reported intersection (MH17-06) and 90 m from existing Mineral Resources. High-grade mineralization has been extended over 1,000 m east of current mine workings and remains open along strike to the east and both up- and down-plunge.
    • 16.61 g/t Au (14.48 g/t cut) over 7.27 m (MH17-07).
  • Main Extension Near Mine: high-grade mineralization intersected east of Mineral Reserves, and above Inferred Resources from the 840-level exploration drift.  New highlights include:
    • 63.94 g/t Au (22.24 g/t cut) over 12.33 m (840-554-14); and
    • 27.82 g/t Au (20.71 g/t cut) over 7.60 m (840-554-07).

Note: Drillhole composite intervals reported as “cut” may include higher grade samples which have been cut to 225 g/t Au for Main and Extension 1 areas, and 160 g/t Au for Extension 2 Area.

“Ongoing exploration success at Island Gold continues to support further growth of the deposit and operation. We have extended high-grade mineralization between the Main and Eastern Extensions and see excellent potential to add high-grade Mineral Resources in this new area. This area is close to existing underground infrastructure including the 840 level exploration drift which will allow us to further define its potential from underground and bring it into the mine plan relatively quickly,” said John A. McCluskey, President and Chief Executive Officer.

2019 Drilling Program – Island Gold Mine

The focus of the 2019 exploration drilling program is 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-kilometre long Island Gold Main Zone (Figure 1).

The ongoing exploration program at Island Gold has been successful in extending high grade gold mineralization across each of the Main, Western, and Eastern Extensions. This has translated into significant growth in Mineral Reserves and Resources since the November 2017 acquisition of Island Gold.

A total of 28,123 m of surface directional and 18,676 m of underground exploration drilling has been completed as of August 31, 2019. New highlight intercepts can be found in Figures 1, 2, and 3 and Tables 1 and 2 at the end of this news release.

The 2019 exploration program at Island Gold includes 48,000 m of surface directional exploration drilling, 30,000 m of underground exploration drilling, and 917 m of exploration drift development.

Surface Exploration Drilling

New Area of Focus between the Eastern and Main Extensions

Surface directional drilling remains focused on testing the new area of high-grade gold mineralization within the E1E Zone that was discovered in May 2019. This area is located down-plunge from known Inferred Resource blocks, between the 850 m and 1,150 m vertical depths, and previously reported high-grade intersections approximately 350 m further to the east (Figure 2). New highlights from the surface drilling program include (E1E-Zone) (Table 1):

  • 34.28 g/t Au (24.95 g/t cut) over 8.36 m (MH19-01);
  • 12.30 g/t Au (12.30 g/t cut) over 6.67 m (MH19-02); and
  • 6.31 g/t Au (6.31 g/t cut) over 8.10 m (MH18-07).

All nine holes  drilled to date in this area have intersected the E1E Zone with eight of the holes presenting ore grade gold mineralization (see Figure 4). This includes new drill holes MH19-01, which intersected 34.28 g/t Au (24.95 g/t cut) over 8.36 m, and MH19-02 which intersected 12.30 g/t Au (12.30 g/t cut) over 6.67 m. These new intersections are located 75 m below and 85 m west of previously reported drill hole MH18-04 which intersected 31.66 g/t Au (31.66 g/t cut) over 2.95 m (see Press Release dated June 10, 2019).

These new drill hole intersections are approximately 225 m down-plunge from Inferred Mineral Resources in the Eastern Extension, and 240 m vertically above Inferred Mineral Resources defined in the eastern down-plunge extent of the Main Extension. Testing the continuity of high-grade mineralization between the Eastern and Main Extensions will be an ongoing focus for the balance of 2019. Three surface directional diamond drill rigs are active in this area, and will continue with 75 to 100 m spaced step-out drilling. The 840 level exploration will be extended above this area by the end of 2019 providing underground access to infill drill this area in 2020 while continuing to target further high-grade mineralization.

Main Extension
Surface directional drilling continues to extend gold mineralization with drill hole spacing ranging from 50 to 100 m (Figure 2).

New highlights from the surface drilling program include (E1E-Zone) (Table 1):

  • 16.61 g/t Au (14.48 g/t cut) over 7.27 m (MH17-07);
  • 5.98 g/t Au (5.98 g/t cut) over 5.24 m (MH14-7);
  • 3.21 g/t Au (3.21 g/t cut) over 4.83 m (MH13-8); and
  • 2.36 g/t Au (2.36 g/t cut) over 9.41 m (MH18-06).

New drillhole MH17-07 (16.61 g/t Au (14.48 g/t cut) over 7.27 m) extended high-grade gold mineralization 50 m east from the nearest previously reported drill hole intersection from MH17-06 (24.08 g/t Au (14.21 g/t cut) over 6.27 m). Gold mineralization continues to be expanded to the east, over one kilometre from existing mine workings. This east plunging high-grade ore shoot remains open laterally, up- and down-plunge.

Two surface directional diamond drill rigs remain active in the Main Extension target area, focused on further extending high-grade mineralization and defining additional Mineral Resources.

Drilling completed over the past few months in the eastern part of the Island Gold mine (Main Extension area, new area of focus and Eastern Extension area) has confirmed the continuity of the E1E gold zone at depth. This zone now extends from 300 m to a vertical depth of more than 1400 m.

Underground Exploration Drilling

Underground exploration drilling is being conducted from the 340, 620 and 840 level exploration drifts.  Drilling from the 340-level exploration drift is testing an area to the east of the Mineral Reserve and Mineral Resource blocks of the Eastern Extension, between 300 m and 500 m vertical depths. Drilling from the 620-level exploration drift tested an area between the Main Mine and the Eastern Extension Mineral Reserve and Mineral Resource blocks, between 450 m and 750 m vertical depths. Drilling from the 840-level exploration drift is testing the area between 840 m and 1000 m vertical depths to the east of the existing Mineral Reserves, and above the Inferred Resource of the Main Extension.

New highlights from the underground exploration drilling program in the E1E Zone include (Figure 3, Table 2):

  • 63.94 g/t Au (22.24 g/t cut) over 12.33 m (840-554-14);
  • 27.82 g/t Au (20.71 g/t cut) over 7.60 m (840-554-07);
  • 8.47 g/t Au (8.47 g/t cut) over 3.95 m (840-548-19);
  • 9.58 g/t Au (9.58 g/t cut) over 4.30 m (620-568-47);
  • 13.48 g/t Au (13.48 g/t cut) over 2.09 m (340-602-06);
  • 11.12 g/t Au (11.12 g/t cut) over 2.19 m (340-602-14);
  • 11.78 g/t Au (11.78 g/t cut) over 2.38 m (340-602-16); and
  • 5.24 g/t Au (5.24 g/t cut) over 6.21 m (340-602-17).

New drillholes 840-554-14 (63.94 g/t Au (22.24 g/t cut) over 12.33 m) and 840-554-07 (27.82 g/t Au (20.71 g/t cut) over 7.60 m) extended high-grade mineralization 150 m east of existing Mineral Reserves, above Inferred Mineral Resources in the Main Extension. Two  underground rigs remain active in the area focused on further defining this area with the objective of adding near mine Mineral Resources.

Other Zones

The Island Gold Deposit consists of a number of subparallel mineralized zones, with the majority of Mineral Reserves and Resources being defined in the C Zone and E1E Zone which constitutes the main production horizons at the Island Gold mine.

Highlights of new intersections from underground exploration drilling of parallel zones and zones in which the lateral continuity is not yet established (“Unknown Zone”) include (reported composite intervals are core lengths) (Table 2):

  • 98.60 g/t Au (77.13 g/t cut) over 3.25 m (340-602-14);
  • 29.81 g/t Au (29.81 g/t cut) over 5.75 m (740-465-56);
  • 48.85 g/t Au (42.90 g/t cut) over 3.00 m (340-602-06);
  • 12.89 g/t Au (12.89 g/t cut) over 5.95 m (340-602-06); and
  • 13.92 g/t Au (13.92 g/t cut) over 4.10 m (340-602-12).

Qualified Persons

Chris Bostwick, FAusIMM, Alamos Gold’s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this news release. Chris Bostwick is a Qualified Person within the meaning of Canadian Securities Administrator’s National Instrument 43-101 (“NI 43-101”).

Exploration programs at the Island Gold Mine are directed by Raynald Vincent, P.Eng., M.G.P., Chief Geologist at the Island Gold Mine and a Qualified Person within the meaning of NI 43-101.

Quality Control

Assays for the surface exploration drilling program were completed at LabExpert in Rouyn-Noranda, Quebec. The Corporation inserts at regular intervals quality control (QC) samples (blanks and reference materials) to monitor laboratory performance. Cross check assays are done on a regular basis in a second accredited laboratory. The Quality Assurance / Quality Control procedures are more completely described in the Technical Report filed on SEDAR by Richmont Mines, July 13, 2017.
About Alamos

Alamos is a Canadian-based intermediate gold producer with diversified production from four operating mines in North America. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos and El Chanate mines in Sonora State, Mexico. Additionally, the Company has a significant portfolio of development stage projects in Canada, Mexico, Turkey, and the United States. Alamos employs more than 1,700 people and is committed to the highest standards of sustainable development. The Company’s shares are traded on the TSX and NYSE under the symbol “AGI”.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Scott K. Parsons
Vice President, Investor Relations
(416) 368-9932 x 5439

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