Core Viewpoint - Alamos Gold Inc. continues to report significant exploration success at the Island Gold Mine, with high-grade gold mineralization being extended both underground and at surface levels, indicating strong potential for future growth in Mineral Reserves and Resources [1][2][19]. Exploration Results - The Island Gold Mine has seen an increase in its Mineral Reserve base for 12 consecutive years, with ongoing exploration supporting expectations for continued growth [2][19]. - High-grade mineralization has been extended outside of existing Mineral Reserves and Resources in various zones, including the E1E and C-Zones, with notable drill results such as 15.87 g/t Au over 2.72 m in the E1E-Zone and 37.26 g/t Au over 2.86 m in the B Zone [3][4][6][28]. Regional Exploration - The regional exploration program has successfully intersected high-grade gold mineralization at the past-producing Cline-Pick and Edwards mines, located seven kilometers from the Magino Mill, which may serve as additional sources of higher-grade ore [1][15][44]. - Significant drill results from the Cline-Pick Mines include 8.22 g/t Au over 21.13 m and 19.22 g/t Au over 4.65 m, while the Edwards Mine reported 55.95 g/t Au over 2.12 m [15][48][53]. Future Plans - A budget of $27 million has been allocated for exploration at the Island Gold District in 2025, an increase from $20 million in 2024, with plans for 41,500 m of underground drilling and 18,000 m of surface exploration [19][21][22]. - The focus will be on defining new Mineral Reserves and Resources near existing production horizons and infrastructure, as well as expanding mineralization at the Magino site [21][22][23]. High-Grade Mineralization - Ongoing drilling has confirmed the continuity and extension of high-grade gold mineralization in various zones, with over 1,500 intersections above 3 g/t Au reported outside of existing Mineral Reserves and Resources [9][39][40]. - New highlights from the Island East Footwall zones include 21.42 g/t Au over 4.00 m and 31.44 g/t Au over 8.27 m, showcasing the potential for further high-grade additions [32][35].

Core Viewpoint - Alamos Gold Inc. has reported the results of the Base Case Life of Mine Plan for the Island Gold District, indicating it is expected to become one of Canada's largest, lowest-cost, and most profitable gold mines, with significant upside potential anticipated in an upcoming Expansion Study [1][3][4]. Summary by Relevant Sections Base Case Life of Mine Plan - The Base Case LOM Plan integrates Island Gold and Magino into a consolidated operation, reflecting current costs and significant growth in Mineral Reserves [2][4]. - The plan includes only Mineral Reserves from Island Gold and Magino, with additional resources not factored into the economic analysis [2][12]. Production and Cost Metrics - Average annual gold production is projected at 411,000 ounces starting in 2026, a 43% increase from 2025 guidance [4][8]. - Mine-site all-in sustaining costs (AISC) are expected to average $915 per ounce over the initial 12 years, a 19% decrease from 2025 guidance [4][51]. - Total cash costs are projected to average $581 per ounce over the initial 12 years and $699 per ounce over the life of mine [7][51]. Mineral Reserves and Resources - Total Mineral Reserves have increased by 48% to 6.3 million ounces, with significant contributions from both Island Gold and Magino [7][12]. - The conversion of Inferred Mineral Resources to Mineral Reserves is ongoing, with a high conversion rate expected to continue [16][12]. Expansion and Future Growth - An Expansion Study is anticipated in Q4 2025, which is expected to outline further increases in Mineral Reserves and potential milling rates of 18,000 to 20,000 tonnes per day [3][4][8]. - The Phase 3+ Expansion is expected to be completed in the second half of 2026, which will enhance production capabilities and lower costs [5][27]. Environmental Considerations - The project aims for a 29% reduction in greenhouse gas emissions per ounce produced, achieving an intensity 70% lower than the industry average [5][40]. Financial Metrics - The after-tax net present value (NPV) of the Base Case LOM Plan is estimated at $4.5 billion at a long-term gold price of $2,400 per ounce, increasing to $6.7 billion at current prices of approximately $3,300 per ounce [21][22]. - Total capital expenditure for the life of mine is projected at $2.26 billion, or $380 per ounce sold [66]. Capital Expenditures - Growth capital is estimated at $453 million, primarily focused on the Phase 3+ Expansion and Magino mill expansion [60][64]. - Sustaining capital is expected to total $1.8 billion over the life of mine, with a per-ounce cost of $304 [66]. Operational Details - The Magino mill will process ore from both Island Gold and Magino, with a planned throughput of 12,400 tonnes per day post-expansion [48][49]. - The transition to a shaft operation is expected to significantly reduce costs and improve efficiency [26][31].