| Announcement Date: | 2022-02-22 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | JORC |
| Company name: | Alamos Gold Inc. |
| Project name: | Lynn Lake |
| Location: | Canada |
| Commodities: | Gold |
| Highlight: | Updated Resource and Reserve Estimates for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Toronto, Ontario (February 22, 2022) – Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today reported its updated Mineral Reserves and Resources as of December 31, 2021. For a detailed summary by asset, refer to the tables below. Global Proven and Probable Mineral Reserves total 10.3 million ounces of gold as of December 31, 2021, a 4% increase from 9.9 million ounces at the end of 2020 with grades also increasing 5%. This reflected increases at all three operations with Mineral Reserves more than replacing mining depletion of 582,000 ounces in 2021. This included a 5% increase in Mineral Reserves at Young-Davidson to 3.4 million ounces, net of depletion, with grades largely unchanged at 2.42 g/t Au. The increase resulted from delineation drilling and the successful conversion of existing Mineral Resources. Island Gold’s Mineral Reserve base increased 2%, net of depletion, to 1.3 million ounces. This marked the ninth consecutive year Mineral Reserves have increased, a trend that is expected to continue given Island Gold’s large and growing high-grade Mineral Resource base. The Mineral Reserve grade also increased 4% to 10.12 g/t Au with the successful conversion of higher-grade Mineral Resources in Island East. |
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