Cautionary Notes Cautionary Notes Note to U.S. Investors Cautionary non GAAP Measures and Additional GAAP Measures

Transcription

1 Island Gold Mine Analyst Tour May 29, 2018

2 Cautionary Notes This presentation, the information contained herein, any other materials provided in connection with this presentation and any oral remarks accompanying this presentation (collectively, this Presentation ) has been prepared by Alamos Gold Inc. ( Alamos ) solely for information purposes. No Stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein. This presentation does not constitute an offering of securities and the information contained herein is subject to the information contained in the Company s continuous disclosure documents at Cautionary Notes Certain statements in this presentation are forward looking statements, including within the meaning of applicable laws. All statements other than statements of historical fact included in this presentation, including, without limitation, statements Alamos net asset value, operating cash flow, free cash flow, forecast gold production, Mineral Reserves, Mineral Resources, exploration potential, gold grades, recoveries, waste to ore ratios, total cash cost, all in sustaining costs, debt levels and future plans and objectives of Alamos are forward looking statements based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management that involve various risks and uncertainties. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as expects or does not expect, is expected, anticipates or does not anticipate, plans, estimates or intends, or stating that certain actions, events or results may, could, would, might, or will be taken, occur or be achieved) are not statements of historical fact and may be forward looking statements. Alamos cautions that forward looking information involves known and unknown risks, uncertainties and other factors that may cause Alamos actual results, performance or achievements to be materially different from those expressed or implied by such information, including, but not limited to, gold and silver price volatility; fluctuations in foreign exchange rates and interest rates; the impact of any hedging activities; discrepancies between actual and estimated production, between actual and estimated Mineral Reserves and Mineral Resources or between actual and estimated metallurgical recoveries; costs of production; capital expenditure requirements; the costs and timing of construction and development of new deposits; and the success of exploration and permitting activities. In addition, the factors described or referred to in the section entitled Risk Factors in Alamos Annual Information Form for the year ended December 31, 2016, which along with other documents setting out risk factors affecting the Company is available on the SEDAR website at should be reviewed in conjunction with the information found in this presentation. Although Alamos has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management s expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward looking information. Market data and other statistical information used throughout this Presentation are based on internal company research, independent industry publications, government publications, reports by market research firms or their published independent sources. Industry publications, governmental publications, market research surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable. Although Alamos believes such information is accurate and reliable, it has not independently verified any of the data from third party sources cited or used for our management s industry estimates, nor has Alamos ascertained the underlying economic assumptions relied upon therein. While Alamos believes internal company estimates are reliable, such estimates have not been verified by any independent sources, and Alamos makes no representations as to the accuracy of such estimates. Note to U.S. Investors Alamos prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to Mineral Resources in this presentation are defined in accordance with National Instrument Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Unites States Securities and Exchange Commission (the SEC ) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Alamos may use certain terms, such as Measured Mineral Resources, Indicated Mineral Resources, Inferred Mineral Resources and Probable Mineral Reserves that the SEC does not recognize (these terms may be used in this presentation and are included in the public filings of Alamos, which have been filed with the SEC and the securities commissions or similar authorities in Canada). Cautionary non GAAP Measures and Additional GAAP Measures Note that for purposes of this section, GAAP refers to IFRS. The Company believes that investors use certain non GAAP and additional GAAP measures as indicators to assess gold mining companies. They are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared with GAAP. Cash flow from operating activities before changes in non cash working capital is a non GAAP performance measure that could provide an indication of the Company s ability to generate cash flows from operations, and is calculated by adding back the change in non cash working capital to Cash provided by (used in) operating activities as presented on the Company s consolidated statements of cash flows. Cash flow per share is calculated by dividing cash flow from operations before changes in working capital by the weighted average number of shares outstanding for the period. Free cash flow is a non GAAP performance measure that is calculated as cash flows from operations net of cash flows invested in mineral property, plant and equipment and exploration and evaluation assets as presented on the Company s consolidated statements of cash flows and that would provide an indication of the Company s ability to generate cash flows from its mineral projects. Mine site free cash flow is a non GAAP measure which includes cash flow from operating activities at, less capital expenditures at each mine site. Return on Equity is defined as Earnings from Continuing Operations divided by the average Total Equity for the current and previous year. Mining cost per tonne of ore and Cost per tonne of ore are non GAAP performance measures that could provide an indication of the mining and processing efficiency and effectiveness of the mine. These measures are calculated by dividing the relevant mining and processing costs and total costs by the tonnes of ore processed in the period. Cost per tonne of ore is usually affected by operating efficiencies and waste to ore ratios in the period. Total cash costs per ounce, all in sustaining costs per ounce, and mine site all in sustaining costs as used in this analysis are non GAAP terms typically used by gold mining companies to assess the level of gross margin available to the Company by subtracting these costs from the unit price realized during the period. These non GAAP terms are also used to assess the ability of a mining company to generate cash flow from operations. There may be some variation in the method of computation of these metrics as determined by the Company compared with other mining companies. In this context, total cash costs reflects mining and processing costs allocated from in process and dore inventory associated and associated royalties with ounces of gold sold in the period. Total cash costs per ounce are exclusive of exploration costs. All in sustaining costs per ounce include total cash costs, exploration, corporate and administrative, share based compensation and sustaining capital costs. Mine site all in sustaining costs include total cash costs, exploration, and sustaining capital costs for the mine site, but exclude an allocation of corporate and administrative and share based compensation. Adjusted net earnings and adjusted earnings per share are non GAAP financial measures with no standard meaning under IFRS. Adjusted net earnings excludes the following from net earnings: foreign exchange gain (loss), items included in Other loss, certain non reoccurring items and foreign exchange gain (loss) recorded in deferred tax expense. Adjusted earnings per share is calculated by dividing adjusted net earnings by the weighted average number ofshares outstanding for the period. Additional GAAP measures that are presented on the face of the Company s consolidated statements of comprehensive income and are not meant to be a substitute for other subtotals or totals presented in accordance with IFRS, but rather should be evaluated in conjunction with such IFRS measures. This includes Earnings from operations, which is intended to provide an indication of the Company s operating performance, and represents the amount of earnings before net finance income/expense, foreign exchange gain/loss, other income/loss, and income tax expense. Non GAAP and additional GAAP measures do not have a standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures presented by other companies. A reconciliation of historical non GAAP and additional GAAP measures are available at Technical Information Chris Bostwick, FAusIMM, Alamos Gold s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this presentation. Chris Bostwick is a Qualified Person within the meaning of Canadian Securities Administrator s National Instrument ( NI ). The Qualified Persons for the National Instrument compliant mineral reserve and resource estimates are detailed in the tables in the appendix of this presentation. All figures in US$ unless otherwise indicated. 2

3 Introduction Jean Bastien Mine Manager, Island Gold 3

4 Safety Guidelines Your safety is our priority In case of emergency, stay calm, follow instructions from your tour guide and regroup in the gathering area beside the parking lot. Each area is equipped with a fire extinguisher The personal protection equipment provided to you is required in all areas: Coveralls/Vests Safety boots Hard hat Safety glasses Ear plugs (as required) Please remain with the group throughout the tour Be sure to observe safety signage Keep a safe distance away from operating equipment at all times Underground and surface safety requirements: 1. Tag in prior to going underground 2. Do not exit from vehicles in motion 3. Use 3 points of contact rule when entering/exiting a vehicle 4. Stay with the group at all times 5. Follow the instructions of your guide in an emergency situation 6. Watch for uneven ground and report any unsafe conditions 7. Tag out when leaving underground If you have any concerns, please advise our company representatives 4

5 Island Gold Overview Peter McPhail Chief Operating Officer Jean Bastien Mine Manager, Island Gold5

6 Island Gold Overview Location: Ontario, Canada Ownership: 100% interest Stage: Producing Operation: Underground One of Canada s highest grade & lowest cost gold mines Located 83km northeast of Wawa, just west of the town of Dubreuilville, Ontario Commercial production declared October 2007 Produced 584k oz to date ~4% NSR royalty Significant exploration potential laterally & at depth Gold Reserves & Resources 1 Tonnes (000) Grade (g/t Au) oz Au (000) P&P Underground Reserves 2, M&I Underground Resources Inferred Underground Resources 2, See mineral reserve and resource estimates and associated footnotes in appendix. 6

7 Island Gold Location Highly Productive Gold Mining District >25 Moz gold produced since 1985 >35 Moz in defined mineral reserves 11 Hearst Hoyle Pond, Goldcorp Bell Creek, Tahoe Detour Lake Mine, Detour Gold ONTARIO Smooth Rock Falls Timmins West, Tahoe Cochrane Black Fox, McEwen Marathon Island Gold Iroquois Falls Holloway, Kirkland Lake 17 Borden, Goldcorp Timmins Hemlo, Barrick Holt, Kirkland Lake Eagle River, Wesdome Magino, Argonaut Wawa Dome Mine, Goldcorp 144 Taylor, Kirkland Lake Macassa, Kirkland Lake Lake Superior Cote, IAMGOLD Young Davidson km 17 Porcupine, Goldcorp Pamour (PJV), Goldcorp Mine/Project City 7

8 Responsible Mining Fostering positive relationships with all stakeholders Partnerships with local communities Indigenous communities Community Benefit Agreement with Missanabie Cree First Nation Ongoing dialogue with other Indigenous and local communities Hiring and training locally 336 Employees (at end of December 2017) 59% of mine workforce from local regions 8

9 Island Gold History 2008 Richmont Mines acquired Patricia Mining Corp and a 100% interest in the Island Gold Mine 2013 Announced Inferred mineral resources of 508,000 oz Au grading g/t for the Island Gold Deep C Zone In October announced an updated Inferred mineral resource of 771,000 oz Au grading g/t 2015 Initial 800 tpd expansion PEA published 2017 Expansion PEA to 1,100 tpd published Alamos Gold acquired Richmont Mineral reserves increased 18% to 887,000 oz Au Mineral reserve grade increased 11% to g/t Island Gold began commercial production as a joint venture between Richmont Mines and Patricia Mining 2014 Inferred mineral resources increased to 955,000 oz Au grading 9.29 g/t Inferred mineral resources upgraded to Indicated mineral resources of 169,000 oz Au grading g/t 2016 Received amended permits for processing avg. 1,100 tpd Mineral reserves increased +34% to 752,200 oz Au 11% increase in mineral reserve grade to 9.17 g/t 9

10 Growing Production, Declining Costs 120 $1, $1, $1,400 Gold production (000 oz Au) $1, $1, $745 $599 $1,200 $1,000 $825 $800 $600 $400 AISC Costs (US$/oz) 20 $ E $0 Production AISC (US$/oz) 1 1 Please refer to Cautionary Notes on non GAAP Measures and Additional GAAP Measures. 10

11 One of Canada s Highest Grade Gold Mines Year end 2017 Mineral Reserve Grade (g/t Au) Source: Company filings Please refer to Cautionary Notes on non GAAP Measures and Additional GAAP Measures Macassa Brucejack Eagle River Island Gold Seabee Island Gold 2016 Westwood Hope Bay Red Lake Meliadine Musselwhite Island Gold 2014 Eleonore LaRonde Black Fox Bell Creek Lapa Casa Berardi Timmins West Young Davidson Goldex Canadian Malartic Detour Lake +60%

12 Mineral Reserve & Resource Growth Over Time Mineral Reserves and Resources Over Time (koz) Cumulative Ounces Produced oz Au 2,000 1,500 1, (500) Inf. Resources M&I Resources Reserves Reserve grade g/t Au 1, , Grade (g/t Au) +383% Increase in mineral reserves since % Mineral reserve grade increase since 2014 ~C$21/oz Discovery costs over past five years (1,000) ,2 0 1 See mineral reserve and resource estimates and associated footnotes in appendix. 2 Includes Proven & Probable reserves of 887,000 oz (2.7 mt at g/t Au), Measured & Indicated resources of 111,000 oz (0.6 mt at 5.86 g/t Au) & Inferred resources of 908,000 oz (3.0 mt at 9.55 g/t Au) 12

13 Operations Leon LeBlanc Chief Mine Engineer, Island Gold Jean Bastien Mine Manager, Island Gold Jamie Porter Chief Financial Officer 13

14 Mining Longitudinal Retreat LHOS (Modified Avoca) Mining method: Longitudinal retreat long hole open stoping (modified avoca) Alimak mining in western block (2020) Current production fleet: 8x AD30 Trucks 3x MT42 Trucks 10x 6 yrd Scoops Mining fleet upgrading to support 1,100 tpd Phasing in higher capacity 42t trucks from 30t Addition of 2 scoops & 1 boom truck Dual ramp system: Allow for multi stope mining 14

15 Mining Longitudinal Retreat Stope Sequence Mining starts at the extreme ends of the horizon and progresses toward centre Higher grades toward centre of ore body creating some grade variability with mining sequence 15

16 2017 Expansion Case PEA to 1,100 tpd Objective: consider the most cost and capital effective approach to mine the portion of the mineral resources located within the main area of interest over four mining horizons, to a maximum depth of 1,000 metres below surface, using the current mine infrastructure. Key Points PEA on operating mine High degree of confidence Mineral reserves accounted for ~80% of PEA mine plan Mine plan incorporated only 24% of inferred mineral resource majority since converted to mineral reserves Cost & capital assumptions based on actual results Island Gold outperformed PEA on all key metrics in 2017 Expansion Case PEA represents only the first phase expansion 870 koz inferred mineral resources outside of PEA mine plan as of Dec. 31,

17 Island Gold Deposit Continuing to Evolve & Grow Since PEA Mineral Reserves (koz Au) Mineral Reserve Grade (g/t Au) Inferred Mineral Resources Outside of PEA Mine Plan (koz Au) +18% +11% +16% Dec Dec ,2 Dec Dec Dec Dec Phase I expansion PEA based on 2016 year end mineral reserves and resources Reserve life increased to seven years with YE 2017 update 236k oz of reserves added in 2017, more than offsetting mining depletion of 102k oz Large resource base and track record of resource additions and conversion to reserves expected to significantly extend mine life Ongoing development required to support longer mine life 1 See mineral reserve and resource estimates and associated footnotes in appendix. 2 Includes Proven & Probable reserves of 887,000 oz (2.7 mt at g/t Au) 17

18 Mining Q2 Q Stope Sequence 820 level 860 level 18

19 Exceeded Phase I PEA on All Key Metrics in 2017 Production (koz Au) Mining Rates (TPD) Milling Rates (TPD) 160 1,200 1, , , Milled Grade (g/t Au) Total Cash Costs (US$/oz) 1 AISC (US$/oz) 1 12 $1,200 $1, $1,000 $800 $1,400 $1,200 $1,000 6 $600 $ $400 $200 $600 $400 $ $ $ Please refer to Cautionary Notes on non GAAP Measures and Additional GAAP Measures. Actuals Phase I PEA Estimates 19

20 Historical Unit Costs versus Phase I Expansion PEA Mining CAD$/t mined Milling CAD$/t milled $180 $40 $160 $140 $120 $100 $80 $60 $40 $20 $ $35 $30 $25 $20 $15 $10 $5 $ $25 Admin CAD$/t milled Actuals Phase I PEA Estimates $20 $15 $10 $5 $ Cost assumptions in PEA based on actual results Outperformed PEA assumptions in 2017 Tax pools $0 taxes payable by Alamos until 2024 utilizing existing tax pools 20

21 Island Gold 2018 Guidance 2017A 2018 Original 2018 Revised Guidance Guidance Q1/18A Gold Production (k oz) Cost of Sales 1 (US$/oz) $1,175 $1,025 $1,000 Total Cash Costs 2 (US$/oz) $470 $575 $575 $553 Mine site AISC 2 (US$/oz) $599 $825 $825 $633 Underground mining rate (tpd) 1,027 1,000 1, Underground grade (g/t Au) Mill throughput (tpd) Processed grade (g/t Au) Recovery (%) 97% 96 97% 96 97% 96% Capital Expenditures Sustaining Capital (US$m) $13 $25 27 $25 27 $2.2 Expansion Capital (US$m) $25 $25 28 $25 28 $11.7 Total Capital (US$m) 3 $38 $50 55 $50 55 $13.9 Continued outperformance in Q driven by higher than budgeted grades 2018 production guidance increased Grades expected to return to budgeted levels remainder of year Completion of mill expansion expected to drive production higher in Q Cost of sales includes mining and processing costs, royalties and amortization. 2. Please refer to Cautionary Notes on non GAAP Measures and Additional GAAP Measures capital guidance excludes capitalized exploration. Q results include $3.1 million of capitalized exploration. 21

22 Unit Costs & Currency Sensitivities Unit Costs per tonne Underground Mill Processing Administration Estimates CAD$130 CAD$30 CAD$20 Other, 13% 2018 Cost Structure Fuel, 3% Fixed Cost Structure ~35% of costs are fixed Contractors, 15% Labour & Related, 43% Significant Leverage to CAD$/US$ Electricity & Heating, 10% 90 95% of all outflows CAD$ $0.05 change in CAD$ would impact FCF by ~C$10M in 2018 Maintenance, 9% Mill Consumables, 2% Mining Consumables, 4% Footnotes: 1. Per tonne processed 22

23 Expansion to 1,100 tpd On Track Mill currently operating at ~900 tpd (928 tpd average in 2017) Permitted for 1,100 tpd (permit received Dec. 2016) Mill expansion designed for 1,200 tpd Mill expansion on track to be completed by end of Q Two years of ore already developed 2015 tailings expansion increased capacity to 2.1 Mt Expansion Case PEA considers additional capacity of 1.5 Mt in 2020 as sustaining capital 23

24 Mill Expansion to 1,200 tpd New MCC Maintenance Shop Reagent Bay New Office New Ball Mill Installation 24

25 Mill Flow Sheet Cone head modification (short head to standard) Increase capacity by opening screen size New primary mill in close loop with cyclone (not shown) Change Trash Screen Convert Leach #5 in CIL Additional ball mill used as a primary mill Reconfiguration of existing ball mills as secondary mills Legend Modified or relocated from existing Additional at 1,200 tpd 25

26 Mill Performance 100% 99% 98% 97% 96% 95% 94% 93% 92% 91% 90% 1, Q1/10 Q2/10 Q3/10 Q4/10 Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 Q2/13 Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/16 Q3/ tpd Average mill throughput in 2017 Tonnes processed per day Recoveries 96.5% Average recoveries since 2012

27 620L Mechanical Shop West Bay (Dev. Completed) Warehouse (Dev. Completed) Tool Crib East Bay (Bench + tool box slash remain) 129m left to develop in the shop Planned to be completed Q Construction to start soon after Supervisor s office Refuge (Construction Completed) Lube storage Welding shop (Dev. Completed) Tire Storage Washbay (Dev. Completed) Drill Doctor (Dev. Completed) 27

28 Multi Purpose Building Location Truck shop Administration offices Warehouse Dry 28

29 Exploration Doug MacMillan Senior Exploration Geologist, Island Gold Raynald Vincent Chief Geologist, Island Gold Scott R.G. Parsons Manager, Exploration29

30 Geology Prolific Gold producing Region SCHREIBER HEMLO Marathon ISLAND GOLD MINE Superior Lake White River 17 RENABIE Proterozoic Rocks Archean Granitoid Plutons Archean Metasedimentary Terranes Archean Greenstone Belts Fault MISHI EDWARDS Gold Past Producer Wawa Gold Producer EAGLE RIVER 25 km 30

31 Goudreau Lake Deformation Zone N 5 km 31

32 Land Tenure Package Dubreuilville Portal Main Ramp Edwards Cline Alamos Gold 219 Mining Titles 7,772 hectares Argonaut 1,968 ha. Magino ISLAND GOLD MINE Emily Bay Showing 2 km ALAMOS GOLD PROPERTIES Ego Deposit OTHER OWNERS Copyright 2018 Alamos Gold Inc. 32

33 Geology Adjacent Past Producers in High Grade System EDWARDS 150 k oz Au CLINE 121 k oz Au KREMZAR 47 k oz Au SW NE Mill Ramp MAGINO OPEN PIT Goudreau Zone ISLAND GOLD MINE 556 k oz Au produced (Dec 2017) Typical Cross Section Lochalsh Zone MAGINO 95 k oz Au 1 km 33

34 Cross Section Looking West Typical Cross Section 34

35 Typical Section Looking West Crown Pillar Crown Pillar 250m Mafic dykes 500m Mafic dykes 750m Island Lower mineralized zones Island Lower mineralized zones 14740E Section 1,000m 14960E Section 35

36 Gold Occurrence C Zone DDH: : C vein smokey color + VG, NQ Core size. 36

37 Geology & Exploration Gold Occurrence Gold is mainly contained in high grade quartz veins located inside plurimetric shear zones with altered host rocks (API) Number and thickness of quartz veins are more important in the core of the new deep C Zone 37

38 Evolution of Island Gold 2010 W LOCHALSH ISLAND EXT1 EXT2 GOUDREAU Surface E Crown pillar 190 m Level 340 m Level 500 m Drilling below existing infrastructure to test the potential at depth m 2010 Island Deep Planned drilling: 9000 m Ramp & Development Mined out Proven Reserves Probable Reserves Indicated Resources Inferred Resources Dyke LEGEND 2010 Selected Intersections Au (g/t) / interval (m) (True thickness (m)) <= 8.0 > m 200 m oz Au 2,000 1,500 1, Grade (g/t Au) 4 38

39 Evolution of Island Gold 2010 W LOCHALSH ISLAND EXT1 EXT2 GOUDREAU Surface E Crown pillar 190 m Level 340 m Level 500 m GD /19.5 (9.6) 5.1/1.8 (0.9) GD /3.3 (1.7) GD /4.4 (2.4) GD /1.8 (1.1) GD /6.4 (3.2) E1E 7.4/5.1 (2.6) GD /5.1 (2.9) GD /1.4 (0.9) 6.0/0.6 (0.4) GD (E1E) 5.6/2.3 (1.2) GD /1.2 (0.7) Drilling below existing infrastructure demonstrated higher grade results m 2, Ramp & Development Mined out Proven Reserves Probable Reserves Indicated Resources Inferred Resources Dyke LEGEND 2010 Selected Intersections Au (g/t) / interval (m) (True thickness (m)) <= 8.0 > m 200 m oz Au 1,500 1, Grade (g/t Au) 4 39

40 Evolution of Island Gold 2012 W LOCHALSH ISLAND EXT1 EXT2 GOUDREAU Surface E Crown pillar 190 m Level 340 m Level Initial mineral resource declared on C Zone in February m Deep C Zone Inferred Mineral Resources 1.5 MT at 10.73g/t Au, 508,000 ounces m 2, Ramp & Development Mined out Proven Reserves Probable Reserves Indicated Resources Inferred Resources Dyke LEGEND Drillhole Intersections Au (Cut 75 g/t) <= <= <= 15.0 > m 200 m oz Au 1,500 1, Grade (g/t Au) 4 40

41 Evolution of Island Gold 2014 W LOCHALSH ISLAND EXT1 EXT2 GOUDREAU Surface E Crown pillar 190 m Level 340 m Level Combined mineral resources in C zone more than double to >1m oz 500 m / /2.67 Island Gold Deep Resources m / / / / / A 15.53/4.34 Indicated Resources: 456,000 T at g/t Au; 169,000 oz Inferred Resources: 3,200,000 T at 9.29 g/t Au; 955,000 oz LEGEND Ramp & Development Mined out Proven Reserves Probable Reserves Indicated Resources Indicated & Inferred Resources Zone C Dyke B 33.89/8.79 (cut 95g/t) C Zone Intersections Au (Cut 95 g/t) <= <= <= 15.0 > 15.0 Au g/t / True thickness (metres) m / m /6.56 GD-14-01C / 5.74 oz Au 2,000 1,500 1, ,037 1, Grade (g/t Au) 4 41

42 Evolution of Island Gold Year end 2015 W LOCHALSH ISLAND EXT1 EXT2 GOUDREAU Surface E Crown pillar 500 m 190 m Level 340 m Level Significant mineral resource conversion 206% increase in reserves & 29% increase in grade /2.78 GD / m LEGEND Ramp & Development Mined out Proven Reserves (2015/12/31) Probable Reserves (2015/12/31) Indicated Resources (2015/12/31) Inferred Resources (2015/12/31) Dyke Drillhole Intersections Au (Cut 95 g/t) <= <= <= 30.0 > 30.0 Au g/t / True thickness (metres) MH /5.84 (Parallel Zone) m 200 m MH /6.60 MH /4.12 oz Au 2,000 1,500 1,000 MH / ,037 1, Grade (g/t Au) 4 42

43 Evolution of Island Gold Year end 2016 W LOCHALSH ISLAND EXT1 EXT2 GOUDREAU Surface E Crown pillar 190 m Level 340 m Level EXPANSION CASE PEA AREA 500 m 740 m Level 840 m Level 620 m Level New inferred mineral resources added along with ongoing resource conversion m 2, LEGEND Ramp & Development Mined out Proven Reserves Probable Reserves Indicated Resources Inferred Resources Inferred Resources B, D, G, G1 Zones Dyke m 200 m oz Au 1,500 1, ,037 1, Grade (g/t Au) 4 43

44 Evolution of Island Gold Year end 2017 W LOCHALSH ISLAND EXT1 EXT2 GOUDREAU Surface E Crown pillar 190 m Level 340 m Level 500 m 740 m Level 620 m Level 2017 focus on conversion of mineral resources to reserves in PEA expansion area 18% increase in reserves & 11% increase in grade m 2, LEGEND) Ramp & Development Mined out Proven Reserves (2017) Probable Reserves (2017) Indicated Resources (2017) Inferred Resources (2017) Diabase Dyke m 200 m oz Au 1,500 1, ,037 1, Grade (g/t Au) 4 44

45 Evolution of Island Gold May 2018 W Surface LOCHALSH ISLAND EXT1 EXT2 GOUDREAU Drillhole Intersection E Crown pillar Au Cut (g/t) < Au Cut * True Width (gm/t) < Level > > Level New Drillhole Intersections Previously Released Drillhole Intersections 500 m 500 m 620 Level 740 m Level m LEGEND Ramp & Development Plunge of Au Mineralization Mined out Proven Reserves (2017) Probable Reserves (2017) Indicated Resources (2017) m Inferred Resources (2017) Diabase Dyke 2 km 45

46 Main Extension Exploration Drilling Inferred Resource (2017) 102, g/t Au 56,200 ounces Au (undiluted) MH g/t Au (10.18 g/t Au cut) / 3.40 m MH g/t Au (24.54 g/t Au cut) / 3.09 m Inferred Resource (2017) 999, g/t Au 311,200 ounces Au (undiluted) MH2-12A g/t Au (11.67 g/t Au cut) / 9.42 m MH g/t Au (19.85 g/t Au cut) / 8.40 m g/t Au (24.75 g/t Au cut) / 4.04 m m Drillhole assays cut to 225 g/t Au Drillhole assay cut to 70 g/t Au MH9-5A g/t Au (10.57 g/t Au cut) / 3.01 m MH g/t Au (12.72 g/t Au cut) / 6.33 m MH g/t Au (14.18 g/t Au cut) / 4.10 m MH g/t Au (20.60 g/t Au cut) / 1.97m MH g/t Au (11.51 g/t Au cut) / 2.04 m MH g/t Au (6.11 g/t Au cut) / 2.34 m MH g/t Au (4.43 g/t Au cut)/ 4.40 m MH g/t Au (11.36 g/t Au cut) / 3.57m MH g/t Au (6.59 g/t Au cut) / 3.45 m m LEGEND Ramp & Development Plunge of Au Mineralization Mined out Proven Reserves (2017) Probable Reserves (2017) Indicated Resources (2017) Inferred Resources (2017) Diabase Dyke Au Cut (g/t) < > 30.0 Au Cut * True Width (gm/t) < > 60 New Drillhole Intersections Hole-ID g/t Au Uncut (g/t Au cut) / True Width metres Previously Released Drillhole Intersections Hole-ID g/t Au Uncut (g/t Au cut) / True Width metres 46

47 Eastern Extension Delineation & Exploration Drilling LEGEND 340 Level Inferred Resource (2017) 133, g/t Au 38,700 ounces Au (undiluted) Ramp & Development Plunge of Au Mineralization Mined out Proven Reserves (2017) Drillhole assays cut to 70 g/t Au Au Cut (g/t) <3.7 Au Cut * True Width (gm/t) < g/t Au (20.64 g/t Au cut) / 2.98m Probable Reserves (2017) Indicated Resources (2017) g/t Au (15.08 g/t Au cut) / 2.06m 500 m g/t Au (19.26 g/t Au cut) / 3.69m g/t Au (42.14 g/t Au cut) / 4.92m g/t Au (19.69 g/t Au cut) / 3.13m g/t Au (15.48 g/t Au cut) / 3.04m g/t Au (22.85 g/t Au cut) / 4.64m g/t Au (14.10 g/t Au cut) / 5.40m 620 Level 500 m GD g/t Au (14.25 g/t Au cut) / 2.18m Inferred Resources (2017) Diabase Dyke New Drillhole Intersections Previously Released Drillhole Intersections > 30.0 > 60 Hole-ID g/t Au Uncut (g/t Au cut) / True Width metres Hole-ID g/t Au Uncut (g/t Au cut) / True Width metres g/t Au (30.55 g/t Au cut) / 5.97m g/t Au (13.42 g/t Au cut) / 4.29m g/t Au (32.08 g/t Au cut) / 2.94m g/t Au (25.02 g/t Au cut) / 2.86m g/t Au (21.99 g/t Au cut) / 3.26m GD g/t Au (25.37 g/t Au cut) / 4.37m Inferred Resource (2017) 57, g/t Au 11,400 ounces Au (undiluted) g/t Au (18.59 g/t Au cut) / 2.66m GD g/t Au (8.16 g/t Au cut) / 2.06m Inferred Resource (2017) 26, g/t Au 9,700 ounces Au (undiluted) GD g/t Au (14.16 g/t Au cut) / 11.53m m g/t Au (21.55 g/t Au cut) / 3.97m GD g/t Au (11.72 g/t Au cut) / 2.13m m 100m 47

48 Western Extension Exploration Drilling m Inferred Resource (2017) 181, g/t Au 100,000 ounces Au (undiluted) g/t Au (42.77 g/t Au cut) / 4.04 m g/t Au (49.61 g/t Au cut) / 8.97 m Inferred Resource (2017) 32, g/t Au 6,600 ounces Au (undiluted) Inferred Resource (2017) 72, g/t Au 22,900 ounces Au (undiluted) m 50m g/t Au (38.62 g/t Au cut) / 2.42 m g/t Au (16.23 g/t Au cut) / 4.41 m MH5-5A g/t Au (31.54 g/t Au cut) / 5.07m LEGEND Ramp & Development Plunge of Au Mineralization Drillhole assays cut to 225 g/t Au Mined out Proven Reserves (2017) Probable Reserves (2017) Indicated Resources (2017) Inferred Resources (2017) Diabase Dyke Au Cut (g/t) < > 30.0 Au Cut * True Width (gm/t) < > 60 New Drillhole Intersections Previously Released Drillhole Intersections Hole-ID g/t Au Uncut (g/t Au cut) / True Width metres Hole-ID g/t Au Uncut (g/t Au cut) / True Width metres 48

49 840 Level Delineation Drilling g/t Au (19.35 g/t Au cut) / 4.14 m g/t Au (44.15 g/t Au cut) / 3.74 m g/t Au (69.18 g/t Au cut) / 6.38 m g/t Au (46.54 g/t Au cut) / 3.94 m g/t Au (39.87 g/t Au cut) / 4.65 m g/t Au (33.26 g/t Au cut) / 3.78 m g/t Au (33.55 g/t Au cut) / 3.88 m m m g/t Au (44.22 g/t Au cut) / 8.78 m g/t Au (30.37 g/t Au cut) / 6.36 m 100m LEGEND Ramp & Development Plunge of Au Mineralization Mined out Proven Reserves (2017) Probable Reserves (2017) Indicated Resources (2017) Inferred Resources (2017) Diabase Dyke Au Cut (g/t) < > 30.0 Au Cut * True Width (gm/t) < > 60 New Drillhole Intersections Hole-ID g/t Au Uncut (g/t Au cut) / True Width metres Previously Released Drillhole Intersections Hole-ID g/t Au Uncut (g/t Au cut) / True Width metres Drillhole assays cut to 225 g/t Au Drillhole assay cut to 70 g/t Au 49

50 3D View of Deposit 50

51 2018 Drilling Program W Surface LOCHALSH ISLAND EXT1 EXT2 GOUDREAU Drillhole Intersection E Crown pillar Au Cut (g/t) < Au Cut * True Width (gm/t) < Zone UG (1,500m) 190 Level > > Level New Drillhole Intersections Previously Released Drillhole Intersections 500 m Shaft Zone UG (3,500m) 340 & 620 levels UG (15,000m) 500 m 620 Level 740 m Level 840 Level UG (8,000m) m RM & Access UG (2,000m) Surface Directional Exploration (8,000m) LEGEND Ramp & Development Plunge of Au Mineralization Mined out Proven Reserves (2017) Probable Reserves (2017) Indicated Resources (2017) Inferred Resources (2017) m Surface Directional Drilling Infill (3,000m) Exploration (12,000m) Surface Directional Drilling Infill (8,000m) Exploration (14,000m) Diabase Dyke 2 km 51

52 Regional Exploration Western Lateral ALAMOS 400m ISLAND GOLD MINE ARGONAUT PROPERTY ALAMOS PROPERTY AGI 100m MAGINO Open Pit Project? Lovell Lake? LC g/t Au /1.78m Western Lateral Exploration drilling (9,000m)??? ALAMOS 400m Producing Gold Mine Major Fault Mineralized C Zone Diabase Mafic Volcanic Intermediate Volcanic Iron Formation Webb Lake Stock Granodiorite Intrusive QFP 0.5 km 52

53 Q V Regional Exploration Kremzar SW Surface KREMZAR MINE (Production) g/t Au, 47,000 oz Au NE Mined Stopes m KZ g/t Au / 6.40 m (core length) Drilling will test extension of the gold mineralized structures that were intersected in 2016 as well as the extension at depth of Kremzar gold vein system m KZ g/t Au /13.02 m (core length) KZ g/t Au /1.10 m (core length) KZ g/t Au / 8.00 (core length) 100 m m 53

54 Questions 54

55 Appendices 55

56 Board of Directors and Executive and Management Team Board of Directors Paul J. Murphy John A. McCluskey Mark J. Daniel Elaine Ellingham David Fleck David Gower Claire M. C. Kennedy Ronald E. Smith Kenneth Stowe Chairman Director Director Director Director Director Director Director Director Executive and Management Team John A. McCluskey Jamie Porter Peter MacPhail Christine Barwell Chris Bostwick Luis Chavez President and CEO Chief Financial Officer Chief Operating Officer VP, Human Resources VP, Technical Services Senior VP, Mexico Andrew Cormier Nils Engelstad Greg Fisher Aoife McGrath Scott Parsons Colin Webster VP, Development & Construction VP, General Counsel VP, Finance VP, Exploration VP, Investor Relations VP, Sustainability & External Affairs 56

57 Island Gold Historical Operational Results 30,000 $2, ,000 25,000 $1,800 $1, ,000 $1,400 $1, ,000 $1, ,000 $800 $ ,000 $400 $ $0 0 0 Gold production (oz) Mine site AISC (US$/oz) Tonnes processed per day Milled Grades (g/t) Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Gold production (oz) 11,139 10,681 11,412 8,974 10,764 14,997 15,076 14,203 26,589 18,617 14,031 24,086 23,772 26,110 26,659 22,063 28,100 Cost of sales 1 (US$/oz) $1,000 Total cash costs (US$/oz) (2,3) $841 $769 $823 $1,144 $1,134 $772 $675 $763 $486 $588 $726 $619 $504 $431 $532 $419 $553 Mine site AISC (US$/oz) (2,3) $979 $959 $1,065 $1,809 $1,480 $1,059 $963 $1,183 $618 $799 $1,010 $683 $640 $503 $708 $574 $633 Underground mine Tonnes mined per day ,019 1, , Grades (g/t) Development metres 1,300 1,222 1,420 1,754 2,048 1,597 1,872 1,486 2,325 2,273 1,749 2,351 2,083 1,773 1,383 1,667 1,555 Unit UG mining costs (CAD$) $119 $100 $132 $235 $234 $139 $140 $177 $146 $135 $151 $116 $125 $119 $127 $127 $151 Mill processing facility Tonnes processed per day Grades (g/t) Recoveries (%) 96.1% 96.2% 97.3% 95.3% 97.2% 96.8% 97.1% 96.0% 96.3% 96.5% 96.4% 96.9% 96.7% 97.6% 97.0% 95.9% 96.0% 1 Cost of sales includes mining and processing costs, royalties and amortization. 2 Please refer to Cautionary Notes on non GAAP Measures and Additional GAAP Measures. 57

58 Island Gold Phase I Expansion PEA Summary TOTAL MINING Tonnes Mined T 364, , , , , , , ,800 3,096,700 Tonnes Mined TPD 999 1,014 1,112 1,118 1,100 1,102 1, ,061 Grade Mined g/t Au MILLING Tonnes Milled T 333, , , , , , , ,300 3,092,500 Tonnes Milled TPD ,100 1,103 1,100 1,100 1,100 1,080 1,059 Grade Milled g/t Au Recovery % Gold Produced oz 90,400 94, , , , , ,400 86, ,800 COSTS C$ Mining Costs $/t milled Milling Costs $/t milled G&A $/t milled Royalties $1550 Gold Price $/t milled Total Operating Costs $/t milled Total Cash Costs C$/oz AISC C$/oz 993 1, , Sustaining Capex C$ x ,827 39,945 41,201 38,979 14,379 5,552 4,187 1, ,537 Growth Capex C$ x ,918 27,373 1,071 1,790 1, ,152 COSTS US$ 1 Total Cash Costs US$/oz AISC US$/oz Sustaining Capex US$ x ,168 29,589 30,520 28,873 10,651 4,112 3,101 1, ,101 Growth Capex US$ x ,606 20, ,326 1, ,483 1 Exchange rate: 1.35 C$ to 1.00 US$. Please refer to the press release entitled Richmont Mines Reports Strong Results from the Island Gold Mine Expansion Case Preliminary Economic Assessment dated May 29, 2017, filed on SEDAR 58

59 2018 Guidance Alamos Gold production (000 s ounces) 2018 Guidance Total Young Davidson Island Gold Mulatos El Chanate Original Revised Revised Guidance Original Guidance Cost of Sales (in millions) (4) $233 $102 $160 $58 $536 $550 Cost of Sales ($ per ounce) (4) $1,125 $1,025 $1,000 $1,285 $1,075 $1,080 Total cash costs ($ per ounce) (1) $675 $575 $800 $1,200 $740 $740 All in sustaining costs ($ per ounce) (1) $950 $950 Mine site all in sustaining costs ($ per ounce) (1),(3) $850 $825 $900 $1,200 Amortization costs ($ per ounce) (1) $450 $450 $200 $85 $335 $340 Capital expenditures (in millions) Sustaining capital (1) $35 40 $25 27 $8 10 $68 77 $68 77 Growth capital (1) $35 40 $25 28 (2) $18 20 (2) $78 88 $78 88 Total capital (1) $70 80 $50 55 $26 30 $ $ Corporate & Administrative (in millions) $18 $ Guidance Total Sustaining Capital Growth Capital Original Revised Development Projects (in millions) Turkey $100 $100 $25 Lynn Lake $8 $8 $8 La Yaqui Grande & Cerro Pelon $13 $13 $13 Esperanza & Quartz Mountain $2 $2 $2 Total Development Projects $123 $123 $48 Capitalized Exploration (in millions) Island Gold $12 $12 $12 Mulatos $7 $7 $7 Lynn Lake $4 $4 $4 Total Capitalized Exploration $23 $23 $23 Total Consolidated Budget $68 77 $ $ $217 $ Refer to the Cautionary non GAAP Measures and Additional GAAP Measures disclosure. 2. Excludes capitalized exploration. 3. For the purposes of calculating mine site all in sustaining costs at individual mine sites, the Company does not include an allocation of corporate and administrative and share based compensation expenses to the mine sites. 4. Cost of sales includes mining and processing costs, royalties, and amortization expense 59

60 2017 Proven & Probable Mineral Reserves PROVEN AND PROBABLE GOLD MINERAL RESERVES (as at December 31, 2017) Proven Reserves Probable Reserves Total Proven and Probable Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) Young Davidson Surface Young Davidson Underground 14, ,298 25, ,142 40, ,440 Total Young Davidson 15, ,325 25, ,142 40, ,467 Island Gold , , Mulatos Main Pits 3, , , San Carlos Underground Stockpiles 8, , La Yaqui , , La Yaqui Grande , , Cerro Pelon , , Total Mulatos 13, , ,329 49, ,888 El Chanate Open Pit 1, , , El Chanate Leach Pad Inv Total El Chanate 1, , , MacLellan 9, , , Gordon 2, , , Total Lynn Lake 11, , , ,625 Ağı Dağı 1, , ,130 54, ,166 Kirazlı , , Total Turkey 2, , ,767 80, ,831 Alamos Total 45, , , , , ,832 PROVEN AND PROBABLE SILVER MINERAL RESERVES (as at Dec 31, 2017) Proven Reserves Probable Reserves Total Proven and Probable Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's) La Yaqui , , La Yaqui Grande 14, ,853 14, ,853 MacLellan 9, ,538 8, ,040 18, ,578 Ağı Dağı 1, , ,169 54, ,459 Kirazlı , ,720 26, ,078 Alamos Total 12, , , , , ,319 60

61 2017 Total Measured & Indicated Mineral Resources MEASURED AND INDICATED GOLD MINERAL RESOURCES (as at Dec 31, 2017) Measured Resources Indicated Resources Total Measured and Indicated Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) Young Davidson Surface , , Young Davidson Underground 7, , , ,291 Total Young Davidson 7, , , ,361 Island Gold Mulatos 7, , ,140 69, ,461 San Carlos UG La Yaqui 0 0 3, , Cerro Pelon Carricito , , Total Mulatos 8, , ,372 74, ,731 El Chanate 2, , , MacLellan Open Pit 2, , , MacLellan Underground 1, , Gordon Burnt Timber 1, , Linkwood Total Lynn Lake 2, , , Esperanza 19, , , ,083 Ağı Dağı , , Kirazlı , , Çamyurt , , Total Turkey 1, , ,082 58, ,108 Quartz Mountain , , Alamos Total 41, , , , , ,357 MEASURED AND INDICATED SILVER MINERAL RESOURCES (as at Dec 31, 2017) Measured Resources Indicated Resources Total Measured and Indicated Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's) La Yaqui Grande 3, ,140 3, ,140 MacLellan Open Pit 2, , , MacLellan Underground 1, , Esperanza 19, ,482 15, ,455 34, ,936 Ağı Dağı , ,417 34, ,445 Kirazli , , Çamyurt , ,404 17, ,497 Alamos Total 22, ,975 78, , , ,335 61

62 2017 Total Inferred Mineral Resources INFERRED GOLD MINERAL RESOURCES (as at Dec 31, 2017) Tonnes Grade Ounces (000's) (g/t Au) (000's) Young Davidson Surface Young Davidson Underground 3, Total Young Davidson 3, Island Gold 2, Mulatos 8, San Carlos UG La Yaqui Cerro Pelon Carricito Total Mulatos 10, El Chanate MacLellan Open Pit MacLellan Underground Gordon Burnt Timber 23, Linkwood 21, Total Lynn Lake 45, ,646 Esperanza Ağı Dağı 16, Kirazlı 5, Çamyurt 2, Total Turkey 25, Quartz Mountain 39, ,147 Alamos Total 127, ,791 INFERRED SILVER MINERAL RESOURCES (as at Dec 31, 2017) Tonnes Grade Ounces (000's) (g/t Ag) (000's) La Yaqui Grande MacLellan Open Pit MacLellan Underground Esperanza Ağı Dağı 16, ,534 Kirazlı 5, ,638 Çamyurt 2, Alamos Total 27, ,174 62

63 Notes to Mineral Reserve and Resource Estimates Qualified Persons Chris Bostwick, FAusIMM, Alamos Gold s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this presentation. Chris Bostwick is a Qualified Person within the meaning of Canadian Securities Administrator s National Instrument ( NI ). The Qualified Persons for the National Instrument compliant mineral reserve and resource estimates are detailed in the following table. Resources Jeffrey Volk, CPG, FAusIMM Director Reserves and Resource, Alamos Gold Inc. Young Davidson, El Chanate, San Carlos U/G, Lynn Lake Raynald Vincent, P.Eng., M.G.P. Chief Geologist Island Gold Island Gold Marc Jutras, P.Eng Principal, Ginto Consulting Inc. Mulatos Pits, Cerro Pelon, La Yaqui, Carricito, Esperanza, Ağı Dağı, Kirazlı, Çamyurt, Quartz Mountain Reserves Chris Bostwick, FAusIMM VP Technical Services, Alamos Gold Inc. Young Davidson, El Chanate, San Carlos Underground, Lynn Lake Leon LeBlanc, P.Eng Chief Engineer Island Gold Island Gold Herb Welhener, SME QP VP, Independent Mining Consultants Inc. Mulatos Pits, Cerro Pelon, La Yaqui, Ağı Dağı, Kirazlı Notes to Mineral Reserve and Resource Tables: The Company s mineral reserves and mineral resource as at December 31, 2017 are classified in accordance with the Canadian Institute of Mining Metallurgy and Petroleum s CIM Standards on Mineral Resources and Reserves, Definition and Guidelines as per Canadian Securities Administrator s NI requirements. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Mineral resources are exclusive of mineral reserves. Mineral reserve cut off grade for the Mulatos Mine, the Cerro Pelon Pit, the La Yaqui Pits, the Kirazlı Pit and the Ağı Dağı Pit are determined as a net of process value of $0.10 per tonne for each model block All Measured, Indicated and Inferred open pit mineral resources are pit constrained with the exception of those outside the Mulatos Main Pits on the Mulatos property which have no economic restrictions and are tabulated by gold cut off grade. Mineral reserve estimates assumed a gold price of $1,250 per ounce and mineral resource estimates assumed a gold price of $1,400 per ounce. Metal prices, cut off grades and metallurgical recoveries are set out in the table below. El Chanate reserve ounces include a December 31, 2017 inventory 80,300 recoverable ounces in the heap leach pad Resources Reserves Gold Price Cut off Gold Price Cut off Met Recovery Mulatos: Mulatos Main Open Pit $1, $1,250 see notes >50% San Carlos Underground $1, $1, % Cerro Pelon $1, $1,250 see notes 75% La Yaqui $1, $1,250 see notes 75% Carricito $1, n/a n/a n/a Young Davidson Surface $1, $1, % Young Davidson Underground $1, $1, % Island Gold $1, $1, % El Chanate $1, $1, % Lynn Lake MacLellan $1, $1, % Lynn Lake MacLellan Underground $1, n/a n/a n/a Lynn Lake Gordon $1, $1, % Esperanza $1, n/a n/a 60 72% Ağı Dağı $1, $1,250 see notes 80% Kirazli $1, $1,250 see notes 81% Çamyurt $1, n/a n/a 78% Quartz Mountain $1, Oxide, 0.6 Sulfide n/a n/a 65 80% 63

64 Scott K. Parsons, CFA VP, Investor Relations x 5439 sparsons@alamosgold.com 64