Alamos Gold Continues to Define High-Grade Mineralization Across the Island Gold Deposit; Ongoing Success Expected to Drive Additional Growth in Mineral Reserves and Resources

Core Viewpoint - Alamos Gold Inc. has reported significant success in exploration drilling at the Island Gold Mine, indicating continued growth in Mineral Reserves and Resources, with high-grade gold mineralization being extended across various zones [1][2]. Exploration Results - The drilling program at Island Gold has been highly successful, with high-grade intercepts across the main deposit and newly defined zones, leading to expectations of growth in Mineral Reserves and Resources for the ninth consecutive year [2][3]. - New high-grade mineralization has been identified in the Island West (C-Zone) and Island East (E1E-Zone), with notable intercepts such as 67.68 g/t Au over 3.61 m and 55.50 g/t Au over 3.87 m respectively [5][23]. Drilling Program Overview - A total budget of $19 million was allocated for exploration in 2024, an increase from $14 million in 2023, with 50,416 m of underground exploration drilling completed in 185 holes [13][14]. - The focus of the drilling program was to define new Mineral Reserves and Resources near existing production horizons, with significant drilling also targeting high-grade mineralization in hanging wall and footwall zones [13][25]. High-Grade Intercepts - Significant high-grade intercepts were reported, including 584.20 g/t Au over 6.80 m in an unknown zone, highlighting the potential for further near-mine additions [10][31]. - Other notable intercepts include 63.51 g/t Au over 2.09 m in the E1D1 Zone and 37.02 g/t Au over 2.42 m in the NTH3 Zone, indicating strong mineralization in both hanging wall and footwall structures [30][7]. Future Growth Potential - The ongoing exploration and delineation drilling are expected to continue defining additional high-grade Mineral Reserves and Resources, particularly in proximity to existing infrastructure, which would be low-cost to develop [28][26]. - The company anticipates that the successful exploration results will support further growth in high-grade Mineral Reserves, enhancing operational flexibility and production potential [28][24].