Corporate Presentation

February 2021

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, the "Presentation"), has been prepared by Alamos Gold Inc. ("Alamos" or the "Company") 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 available on the SEDAR website atwww.sedar.com or on EDGAR atwww.sec.gov.

Cautionary Notes

This Presentation contains statements that constitute forward-looking information as defined under applicable Canadian and U.S. securities laws. All statements in this Presentation other than statements of historical fact, which address events, results, outcomes or development that Alamos expects to occur are, or may be deemed to be "forward-looking statements". Forward-looking statements are generally, but not always, identified by the use of forward-looking terminology such as "expect", "assume", "inferred", "schedule", "estimate", "budget", "continue", "potential", "outlook", "trending", "plan" or variations of such words and phrases and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved or the negative connotation of such terms. Forward-looking statements include information related to Alamos' net asset value, operating cash flow, free cash flow, forecast gold production, mineral reserves, mineral resources, exploration potential, mine life, gold grades, recoveries, waste-to-ore ratios, total cash cost, all-in sustaining costs, debt levels, capital expenditures, the Company's COVID-19 measures and outlook, Lynn Lake project, expected completion date of the shaft expansion project at Island Gold, renewal of mining concessions in Turkey, and future plans and objectives based on forecasts of future operational or financial results. Alamos cautions that forward-looking statements are necessarily based upon several factors and assumptions that, while considered reasonable by Alamos at the time of making such statements, are inherently subject to significant business, economic, legal, political and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors and assumptions include, but are not limited to: changes to current estimates of mineral reserves and mineral resources; the speculative nature of mineral exploration and development, risks in obtaining and maintaining necessary licenses, permits and authorizations for the Company's development stage and operating assets including the renewal of the Company's mining concessions in Turkey; timely resumption of construction and development at the Kirazlı project; Phase III expansion delays at the Island Gold mine; operations may be exposed to new diseases, epidemics and pandemics, including the effects and potential effects of the global COVID-19 widespread pandemic; the impact of the COVID-19 pandemic on the broader market and the trading price of the Company's shares; provincial and federal orders or mandates (including with respect to mining operations generally or auxiliary businesses or services required for our operations) in Canada, Mexico, the United States and Turkey; the duration of regulatory responses to the COVID-19 pandemic; governments and the Company's attempts to reduce the spread of COVID-19 which may affect many aspects of the Company's operations including the ability to transport personnel to and from site, contractor and supply availability and the ability to sell or deliver gold dore bars; fluctuations in the price of gold or certain other commodities such as, diesel fuel, natural gas, and electricity; changes in foreign exchange rates; the impact of inflation; employee and community relations (including maintaining social license to operate in Turkey); litigation and administrative proceedings; changes to production estimates (which assume accuracy of projected ore grade, mining rates, recovery timing and recovery rate estimates which may be impacted by unscheduled maintenance, labour and contractor availability and other operating or technical difficulties); disruptions affecting operations; inherent risks associated with mining and mineral processing; the risk that the Company's mines may not perform as planned; increased costs associated with mining inputs and labour; contests over title to properties; changes in national and local government legislation (including tax and employment legislation), controls or regulations in Canada, Turkey, the United States and other jurisdictions in which the Company does or may carry on business in the future; risk of loss due to sabotage, protests and other civil disturbances; the costs and timing of construction and development of new deposits; the impact of global liquidity and credit availability and the values of assets and liabilities based on projected future cash flows; risks arising from holding derivative instruments; and business opportunities that may be pursued by the Company. Additional risk factors affecting Alamos and the Company's ability to achieve the expectations set forth in the forward- looking statements contained in this Presentation are set out in the Company's latest 40F/Annual Information Form and Management's Discussion and Analysis, each under the heading "Risk Factors" available on the SEDAR website atwww.sedar.com or on EDGAR atwww.sec.gov, and should be reviewed in conjunction with this Presentation. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. 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 the Company's 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. Terms relating to mineral resources in this presentation are defined in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") under the guidelines set out in the Canadian

Institute of Mining, Metallurgy and Petroleum's Standards, Best Practices and Guidance for Mineral Resources and Mineral Reserves. Alamos may use certain terms, such as "Measured Mineral Resources", "Indicated Mineral Resources", "Inferred Mineral Resources" and "Probable Mineral Reserves". Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into Mineral Reserves. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred

Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in very limited circumstances. Disclosure of "contained ounces" in a Mineral Resource is permitted disclosure under Canadian regulations.

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 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 of shares 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 detailed in the Company's Management's Discussion and Analysis available atwww.alamosgold.com.

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 43-101 ("NI 43-101"). The Qualified

Persons for the NI 43-101 compliant mineral reserve and resource estimates are detailed in the tables in the appendix of this Presentation.

TSX:AGI ǀ NYSE:AGI 2

Strong platform for delivering sustainable long-term value

Growing, diversified, intermediate gold producerExpanding margins & profitabilityConservative, low-risk strategySustainable business model supporting growing returns over the long-term

470-510k oz

2021E gold production

$1,025-$1,075

2021E AISC per ounce1,2

Safe jurisdictions

100% North American production

Balanced approach

to capital allocation

~750k oz

2025E production potential

~$800

2025E AISC per ounce1,2

Debt-free

$221m cash & $721m total liquidity4

$196m

Returned to shareholders through dividends & buybacks

12 year

average mine life3

$134m

free cash flow H2 20202

Fully funded

organic growth

1 Total consolidated all-in sustaining costs include corporate and administrative and share based compensation expenses. For the purposes of calculating all-in sustaining costs at individual mine sites, the Company does not include corporate and administrative and share based compensation expenses

  • 2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

  • 3 Average mine life based on Proven & Probable Mineral Reserves as of December 31, 2020 at Young-Davidson and Mulatos and Phase III Expansion mine plan at Island Gold

  • 4 Cash & cash equivalents and debt as of December 31, 2020

Long-term track record

of value creation for all stakeholders

ESG - leading on key metrics with focus on continuous improvement

tCO2e/oz

Lower GHG emissions per oz gold produced1,2

0.59

0.51

0.36

5%

reduction in 2019

AGIInt AvgSr Avg

per200,000hours worked

Lost time injury rate

0.34

2018

59%

0.17

0.14

reduction

since 2018

2019

2020

33%

90%

Director independenceindependent board members are women

  • o Alignment of executive pay to performance & shareholder interests

  • o Top quartile ranking in 2020 Globe and Mail Board Games

Higher water efficiency per oz gold produced1,2

waterwithdrawal m3/oz

30.8

25.5

11.0

69%

recycled water use

AGIInt AvgSr Avg

  • o Carbon footprint & energy reduction initiatives

    • o Grid power connection at Mulatos

    • o Automation with YD lower mine expansion

    • o 35% reduction in life of mine GHG emissions with Island Gold Phase III expansion

  • o Zero significant environmental incidents in 2020

Community investment1,3

2.4%

%revenue

Int Avg

$16m

invested in 2019

AGI

Sr Avg

  • o Recognition for social contributions:

    • o Best Corporate Social Responsibility Practice 20194

    • o Empresa Socialmente Responsable (ESR)5 award - 12 consecutive years

    • o Ethics and Values in Industry6 award

  • o 26% reduction in recordable injuries since 2018

  • o Improving ESG disclosure, reporting in accordance with:

  • o Adopting TCFD recommendations and incorporating climate-related risk into disclosures

  • o Alignment of practices to WGC's Responsible Gold

    Mining Principles and Conflict-Free Gold Standard

  • o Responsible tailings management: support of Investor Mining & Tailings Safety Initiative

  • o Top quartile ranking in Credit Suisse's 2020

    Precious Metals ESG Scorecard1

  • 1 Source: 2019 data; Bloomberg, Credit Suisse 2020 Precious Metals ESG Scorecard (October 2020)

  • 2 Intermediate average includes BTO, CG, ELD, IMG, NGD, OGC, YRI. Senior average includes AEM, GOLD, K, KL, NEM

  • 3 Intermediate average includes BTO, CG, ELD, IMG, NGD, OGC, PAAS, SSRM, YRI. Senior average includes AEM, GOLD, K, KL, NEM

4 Best Corporate Social Responsibility Practice 2019 from Cemefi, AliaRSEand Forum Empresafor Alamos' voluntary relocation program of residents from Mulatosto Matarachi, Mexico

  • 5 EmpresaSocialmenteResponsable(ESR) -CSR Award received from Mexican Center for Philanthropy

  • 6 Awarded by CONCAMIN, the Industrial Chambers Confederation of Mexico

Q4 & 2020 results - achieved full-year guidance; record financial performance

Gold production (000 oz)

Gold sales (000 oz)Average realized gold price (US$/oz)

Cost of sales (US$/oz, includes amortization)1

Total cash costs (US$/oz)3

All-in sustaining costs (US$/oz)2,3

Operating revenues (US$M)

$1,860 $1,115 $733 $1,030 $227

Adjusted net earnings (US$M)3

Adjusted earnings per share3

Cash provided by operations before changes in working capital (US$M)3

Cash flow per share3

Capital expenditures (US$M)4

Mine-site free cash flow (US$M)3

$58 $0.15 $127 $0.32 $73 $67

Consolidated free cash flow (US$M) 3

Cash & cash equivalents (US$M)5

Q4 2020ARevised 2020

Q4 2019A

120.4

2020A

122.1

426.8

2019A

Guidance5

494.5

405-435

$1,463 $1,070 $722 $972 $186

$1,763 $1,136 $761 $1,046 $748

$1,381 $1,054 $720 $951 $683

- $1,160

$780-820 $1,030-1,070

$32 $0.08 $82 $0.21 $73 $18

$157 $0.40 $383 $0.98 $246 $169

$84 $0.21 $293 $0.75 $264 $62

- - - - $205-235

-$58 $221

$5 $183

$122 $221

$183

($3)

- -

  • 1 Cost of sales includes mining and processing costs, royalties and amortization

  • 2 Total consolidated all-in sustaining costs include corporate and administrative and share based compensation expenses. For the purposes of calculating all-in sustaining costs at individual mine sites, the Company does not include corporate and administrative and share based compensation expenses

3 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

  • 4 Includes capitalized exploration of $4.0m in Q4/20, $4.3m in Q4/19, $12.8m for 2020, $17.7m for 2019

  • 5 2020 guidance revised on July 29, 2020 reflecting COVID-19 related temporary operational suspensions & delays during Q2 2020

2021 guidance - higher production, lower costs; fully funded organic growth

Gold production

Total cash costs

Sustaining & growth capital

(000 oz)

(US$/oz)1

(US$m)1

470-510

2020A

Cost of sales (US$/oz)3

$761

2021E

2020A

2021E

All-in sustaining costs

(US$/oz)1,2

$1,136

$1,105

$1,046

$1,025-1,075

2020A

2021E

  • 1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

    2020A

    2021E

  • 2 Total consolidated all-in sustaining costs include corporate and administrative and share based compensation expenses. For the purposes of calculating all-in sustaining costs at individual mine sites, the Company does not include corporate and administrative and share based compensation expenses

  • 3 Cost of sales includes mining and processing costs, royalties and amortization

  • 4 Based on the mid-point of 2021 guidance

2020A

2020A Growth2020A Sustaining

2021E

2021E Growth2021E Sustaining

Exploration expenditures

(US$m)

$34

2020A

2020A Capitalized2020A Expensed

2021E

2021E Capitalized2021E Expensed

Sustainable business model

Balanced approach to capital allocation supporting growth & higher returns to shareholders over the long term

Strong free cash flow outlook

  • o Completion of lower mine expansion at Young-Davidson

  • o Strong ongoing performances from Island Gold & Mulatos

  • o $134m free cash flow1 in H2 2020

1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.

  • o 25% increase in dividend to $0.10/sh/yr

  • o 400% increase in dividend since 2018

  • o Share buyback

  • o $221m in cash and equivalents at YE 2020

  • o Debt free - repaid revolver October 2020

  • o Island Gold Phase III Expansion

  • o La Yaqui Grande

  • o Exploration

Diversified asset base; low political risk profile

  • 1 750koz growth potential includes completion of Phase III Expansion at Island Gold and development of Lynn Lake

  • 2 Proven & Probable Mineral Reserves total 9.9 million ounces of gold (204.1 mt at 1.50 g/t Au)

  • 3 Average mine life based on existing operating mines

  • 4 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

Young-Davidson - lower mine expansion driving strong free cash flow growth

  • • One of Canada's largest underground gold mines

  • • Transitioned to new, larger, highly automated infrastructure July 2020

  • • Record mining rates of 7,651 tpd & record FCF2 of $31m generated Q4/20

  • • Production growth to 190-205k oz at significantly lower costs & capital expected to drive record FCF2 of ~$118m3 in 2021

  • • Capital trending lower to rate of $40-$50m per year

1

Total capital (US$m)Operating cash flow (US$m)

2

$195

Northgate shaft shutdown to complete lower mine expansion

  • 1 Includes capitalized exploration

  • 2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

  • 3 Based on the mid-point of guidance and assuming an $1,800/oz gold price in 2021

Underground mining rate (tpd)

8,000

7,000

6,000

5,000

4,000

3,000

2,000

1,000

0

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

Q2/18

Q3/18

Q4/18

Q1/19

Q2/19

Q3/19

Q4/19

Q1/20

Q2/20

Q3/20

Q4/20

Island Gold - Phase III Expansion to drive 70% production growth

  • • World's sixth highest grade gold mine1

  • • Phase II expansion: record mine-site free cash flow3 of $101m in 2020

  • • Phase III Shaft Expansion: 70% production growth at industry low costs

    • • 236k oz/yr at mine-site AISC of $534/oz starting in 2025

    • • $1.45B NPV5% & 22% IRR (after-tax; $1,750/oz Au) 5,6

    • • Expansion self-financed by Island Gold at $1,750/oz Au

  • • Significant exploration potential: $25m exploration budget in 2021

2

Total capital (US$m)Operating cash flow (US$m) 3

3

$182

$180

Goldproduction(oz)

2016A

2017A

2018A

2019A

  • 1 Source: Mines and Metals, July 13, 2020; based on reserve grade for deposits containing reserves of more than 1m oz

  • 2 Includes capitalized exploration

  • 3 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

    2020A

  • 4 Based on the mid-point of guidance and assuming an $1,800/oz gold price in 2021; operating cash flow net of exploration expense of $5 million

    Shaft Expansion production & cost profile 3

    350,000 300,000 250,000 200,000 150,000 100,000 50,000

    -$145 2021E

    4

    -

  • 5 NPV and IRR are calculated for life of mine starting January 2020. IRR is calculated on the differential after-tax cash flow between the Shaft Expansion scenario and the base case of continuing to mine at 1,200 tpd with ramp only access

  • 6 Foreign exchange rate of US$/C$ is assumed to be 0.75:1

Gold Production (oz)Mine-site AISC (US$/oz)

$1,000 $900 $800 $700 $600 $500 $400 $300 $200

Mine-siteAISC(US$/oz)

Island Gold - ongoing exploration success driving growth in size & quality

Significant Growth in Mineral Reserves & Resources Since November 2017 Acquisition

5,000

Mineral Reserves

4,000

M&I Mineral Resources Inferred Mineral Resources Mineral Reserve grade Cumulative oz produced

3,000

2,000

1,000

768

1,037

1,003

564

-

154 172

111 141

233 144

219 184

72 562

  • 201 243

    277

    319

    374

    (1,000)

  • 2011 2012

2013

2014

2015

3,208 2,298

1,573

908

996

184 196

166

111 91 1,310

1,215

752

887

1,007

12

10

8

6

4

2

0

457

556

662

812

951

2016

2017

2018

2019

2020 2

kozAu

Increase in Mineral Reserves & Resources, net of 508k oz of mining depletion3

2.8m oz

  • 1 See Mineral Reserve and Resource estimates and associated footnotes in appendix

    Grade(g/tAu)

  • 2 Includes Proven & Probable Mineral Reserves of 1.3m oz (4.2 mt at 9.71 g/t Au), Measured & Indicated Mineral Resources of 166,000 oz (0.7 mt at 7.18 g/t Au) & Inferred Mineral Resources of 3.2m oz (6.9 mt at 14.43 g/t Au)

  • 3 Since completion of acquisition of Island Gold in November 2017

Mulatos District - stable production; declining cost profile

  • • Founding asset; produced >2 m oz of gold & $485m FCF2 to date

  • • Declining cost profile; connection to grid power & development of La Yaqui Grande

  • • Cerro Pelon built for $25m in 2019; strong driver of $68m mine-site FCF2 in 2020

  • • La Yaqui Grande, low-cost, high return project; initial production expected Q3 2022

    • • Expected to keep Mulatos production at ~150k oz per year at lower costs

    • • Total initial capital expected to be self-financed by Mulatos at $1,750/oz Au

Total capital (US$m) 1

Operating cash flow (US$m)

2

$136

La Yaqui Grande

Average annual production (000 oz)3 Average mine-site AISC (US$/oz)2,3

123

$578

Initial capital (US$M)3

$137

Total LOM capital (US$M)3

$196

Gold price assumption (US$/oz)

$1,450

$1,750

$165

$260

41%

58%

2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

3 See La Yaqui Grande construction decision press release dated July 28, 2020 for more details. Base case assumptions for gold and silver price were $1,450 and $18 per ounce, respectively

4 Pre-tax mine-site free cash flow

TSX:AGI ǀ NYSE:AGI

5 Based on the mid-point of guidance and assuming an $1,800/oz gold price in 2021; operating cash flow net of exploration expense of $9 million

1 Includes capitalized exploration

2016A

2017A

2018A

2019A

2020A

-$130 2021E 4,5

After-tax NPV5% (US$M)2,3

After-tax IRR 2,3

Growing, long-life North American production; declining cost profile

~750k oz annual production potential by 2025 at ~$800/oz AISC1

Production(000ozAu)

Additional value creation opportunities with Turkish projects, Esperanza & Quartz Mountain

1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

  • 2 Mineral Reserve life based on Mineral Reserves as of December 31, 2020. Island Gold mine life based on Phase III Expansion Study. See Mineral Reserve and Resource estimates and associated footnotes in appendix

  • 3 For more detail on Lynn Lake project, see press release dated December 14, 2017

Growth: Lynn Lake Project - low cost, high-grade, open pit

  • • Favourable jurisdiction: Manitoba, Canada

  • • High-grade, open pit with significant exploration potential across large land package (58,000 ha)

  • • Feasibility Study (Dec 2017) based on Mineral Reserves of 1.6m oz3,4

    • • Mineral Reserves have since increase 27% to 2.1m oz3,4

  • • Environmental Impact Statement submitted Q2 2020; Indigenous community engagement underway

  • • Construction decision expected 2022

$1,500

$290

21.5%

$1,750

$441

28.8%

$1,950

$572

34.8%

  • 1 See Lynn Lake Dec. 2017 feasibility study as detailed in press release dated Dec. 14, 2017 for more details. Base case assumptions for gold & silver price were $1,250/oz & $16/oz

  • 2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

  • 3 See Mineral Reserve and Resource estimates and associated footnotes in appendix

  • 4 Proven & Probable Mineral Reserves totaled 1.6m oz (26.8 mt at 1.89 g/t Au) as of Dec. 1, 2017 and 2.1m oz (36.5 mt at 1.75 g/t Au) as of Dec. 31, 2020

Growth: Turkish Development Projects - low-cost, high-return, fully funded

  • • Kirazlı construction activities suspended pending renewal of mining concessions which expired October 13, 2019

  • • Delay in concession renewal related to protests following a social media misinformation campaign

  • • All conditions for concession renewal have been met

  • • Federal Government & local communities supportive

  • • ~$32m spent to date of initial capital estimate for Kirazlı of $152m1

  • • Updated timeline and budget to be provided following renewal of concessions & restart of construction

2017 Economic Studies1

After-Tax NPV8% ($M)

After-Tax IRR (%)

  • 1 Please refer to press releases dated Feb 15 and Feb 22, 2017 regarding Kirazli & Agi Dagi feasibility studies & Camyurt preliminary economic assessment. Base case assumptions for gold and silver price were $1,250 and $16 per ounce, respectively.

  • 2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

$1,750

$345

$551

$154

70%

60%

424%

$1,950

$400

$642

$179

78%

67%

489%

Strong balance sheet; long-term focus on returning capital to shareholders

Cash & Total Liquidity

As of December 31, 2020

Cash & Cash Eq.1,2

Balance Sheet

Total Liquidity3 Total Debt2

Capital Structure

Shares Outstanding (Basic) Shares Outstanding (Fully Diluted) Recent Share Price (TSX)4

Market Capitalization

Long-term track record of returning capital to shareholders

US$pershare

2010

2011

  • 1 Unaudited as of December 31, 2020

    2012

  • 2 Cash & cash equivalents as of December 31, 2020

    2013

    2014

  • 3 Total liquidity includes cash, and cash equivalents as of December 31, 2020 and undrawn $500m

2015

US$221 million

US$721 million

US$0

392.8 million 400.4 million

C$9.47 ~C$3.7 billion

  • 4 As of February 23, 2021

    2016

    2017

    2018

    2019

    2020

    2021E6

  • 5 Calculated as total dollar amount invested in share buybacks divided by average shares outstanding over the period

  • 6 2021E dividend based on quarterly dividend rate of $0.025 per share

Track record of adding value through M&A & exploration

Mulatos (US$m)

Young-Davidson (US$m)

Island Gold (US$m)

$47

$485

$10

$578

Acquisition Cost (2003)Consensus NAV & Cumulative FCF

$950

$1,545

Acquisition Cost (2015)Consensus NAV &Cumulative FCF

$624

$183

$1,293

Royalty Repurchase (2020)Acquisition Cost (2017) &

3

Consensus NAV & Cumulative FCF

Acquisition Cost

Consensus NAV1

  • 1 Based on consensus analyst net asset value (NAV) estimates

  • 2 Cumulative free cash flow (FCF) generated since acquisition as of Q4 2020. Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

  • 3 Acquisition cost based on the value of Richmont Mines on closing ($627 million), net of $58 million in cash on its balance sheet. Royalty repurchase totaled $55 million

Cumulative FCF2

Track record of adding value on aggregate & per share basis

Gold Production (000 oz Au)

+250% 490

140

Mineral Reserves (M oz Au)

+471% 9.9

1.7

2014A

2021E1

2014A

2020A2

Cash provided by operations before changes in WC (US$M)

+900% $511

$51

2014A

2021E 3,4

Gold Production Per Share

Gold Reserves Per Share

Cash Flow Per Share

(oz x 1000)

(oz x 1000)

(US$, basic)

+225% $1.30

+14%

1.25

1.10

2014A

2021E 1

  • 1 2021E gold production growth from 2014 based on the mid-point of guidance of 470-510k oz Au

  • 2 See Mineral Reserve and Resource estimates and associated footnotes in appendix

  • 3 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

  • 4 2021E operating cash flow and cash flow per share based on Factset consensus analyst estimates as of February 23, 2021

+85%

25.13

2020A 2

2014A

2014A

2021E 3,4

Long-term track record of delivering shareholder value

Average annualized return since 2003 1 13%

10%

2%

AGI (TSX)

  • 1 As of February 23, 2021

    S&P/TSX Global Gold

    Index

    Gold (US$/oz)

  • 2 Source: Factset consensus estimates as of February 23, 2021. Intermediate average includes BTO, CG, ELD , EQX, IMG, NGD, OGC, PAAS, SSRM, YRI

Alamos - value creation opportunities

Catalysts

15% production growth in 2021 & further ~50% growth potential to ~750koz by 2025

24% reduction in AISC1 to ~$800/oz by 2025

Strong ongoing FCF1 generation while advancing growth initiatives at Island Gold & MulatosOngoing exploration success at Island GoldExpanded exploration programs at Young-Davidson, Mulatos & Lynn Lake

1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

Appendices

Board of Directors, Executive and Management Team

Board of Directors

Paul J. Murphy

John A. McCluskey

Elaine Ellingham

David Fleck

David Gower

Claire M. C. Kennedy

Monique Mercier

J. Robert S. Prichard

Ronald E. Smith

Kenneth Stowe

Chairman

Director

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

Nils Engelstad

President and CEO

Chief Financial Officer

Chief Operating Officer

VP, Human Resources

VP, Technical Services

Senior VP, Mexico

VP, General Counsel

Greg Fisher

John Fitzgerald

Scott K. Parsons

Scott R.G. Parsons

Adrian Paulse

Rebecca Thompson

Colin Webster

VP, Finance

VP, Projects

VP, Investor Relations

VP, Exploration

VP, Information Technology

VP, Public Affairs

VP, Sustainability & External Affairs

TSX:AGI ǀ NYSE:AGI

2021 guidance

2021 Guidance

2020A

Young-Davidson

Island Gold

Mulatos

Other

Total

Total

Gold production (000's oz)

190-205

130-145

150-160

-

470-510

427

Cost of Sales (in millions) (3)

$255

$108

$177

-

$540

$482

Cost of Sales ($ per ounce) (3)

$1,290

$785

$1,145

-

$1,105

$1,136

Total cash costs ($ per ounce) (1)

$790-840

$430-480

$840-890

-

$710-760

$761

All-in sustaining costs ($ per ounce) (1)

-

-

-

-

$1,025-1,075

$1,046

Mine-site all-in sustaining costs ($ per ounce) (1),(2)

$1,000-1,050

$750-800

$1,060-1,110

-

-

-

Amortization costs ($ per ounce) (1)

$475

$330

$280

-

$370

$360

Corporate & Administrative (in millions)

-

-

-

-

$20

$21

Capital expenditures (in millions)

Sustaining capital(1)

$40-45

$40-45

$30-35

-

$110-125

$82

Growth capital(1)

$25-30

$80-85

$95-100

$10

$210-225

$146

Total sustaining & growth capital(1)

$65-75

$120-130

$125-135

$10

$320-350

$228

Capitalized exploration(1)

$7

$20

-

$7

$34

$18

Total capital expenditures(1)

$72-82

$140-150

$125-135

$17

$354-384

$246

  • 1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.

  • 2 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.

  • 3 Cost of sales includes mining and processing costs, royalties, and amortization expense, and is calculated based on the mid-point of total cash cost guidance.

2021 guidance - capital budget

2021 Guidance

2020A

Sustaining Capital

Growth Capital

Total

Total

Operating Mines (US$M)

Young-Davidson

$40-45

$25-30

$65-75

$102

Island Gold

$40-45

$80-85

$120-130

$69

Mulatos

$30-35

$95-100

$125-135

$41

Total - Operating Mines

$110-125

$200-215

$310-340

$212

Development Projects (US$M)

Lynn Lake

-

$6

$6

$4

Other

-

$4

$4

$12

Total - Development Projects

-

$10

$10

$16

Capitalized Exploration (US$M)

Young-Davidson

-

$7

$7

$-

Island Gold

-

$20

$20

$12

Mulatos

-

-

-

$1

Lynn Lake

-

$7

$7

$5

Total - Capitalized Exploration

-

$34

$34

$18

Total Consolidated Budget

$110-125

$244-259

$354-384

$246

1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

COVID-19 - focused on the health & safety of our people & communities

Strict health & safety protocols at each operation

  • • We continue to be diligent in taking precautions to help prevent the potential spread of COVID-19

  • • All operations have returned to normal operating levels under strict health & safety protocols

  • • On-site testing for COVID-19 implemented at all operations

Supporting our communities

  • • Our teams in Canada, Mexico, and Turkey have donated their time, medical equipment & supplies, food & funds to support:

    • • Hospitals & medical clinics

    • • Frontline workers

    • • Vulnerable members of our communities

Young-Davidson - flagship, long-life production

  • • One of Canada's largest underground gold mines

  • • 14 year mine life based on YE 2020 Mineral Reserves

  • • Large resource base & exploration potential to support mine life extension

  • • Significant Canadian dollar exposure; ~95% of costs

2019A

2020A

2021E

Gold Production (k oz)

188.0

136.2

190-205

Cost of Sales1 (US$/oz)

$1,224

$1,491

$1,290

Total Cash Costs2 (US$/oz)

$800

$1,019

$790-840

Mine-site AISC2 (US$/oz)

$1,047

$1,214

$1,000-1,050

Total Capital4 (US$m)

$100

$102

$65-75

Exploration Spending4 (US$m)

-

-

$7

Mine-site FCF2 (US$m)

$13

$0

-

Gold Reserves & Resources3

Tonnes (000)

Grade (g/t Au)

oz Au (000)

P&P Mineral Reserves

41,191

2.44

3,232

M&I Mineral Resources

11,011

3.22

1,140

Inferred Mineral Resources

2,331

2.86

214

  • 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

  • 3 See Mineral Reserve and Resource estimates and associated footnotes in appendix

  • 4 Total capital excludes capitalized exploration. Exploration spending guidance of $7m in 2021, all capitalized

Young-Davidson - transition to lower mine infrastructure completed July 2020

Young-Davidson - lower mine expansion to drive costs lower

H1 2021E mining cost per tonne

~C$50/t

Upper mine

Lower mine

Incremental improvement

Lateral material handling

trucking

conveying

C$2.00/tonne; excluding productivity improvements

Mid shaft ore trucking from below 9590 L

trucking

n/a

C$1.00/tonne

Fine ore bin capacity

500t

6,000t

No hoisting downtime between blasting & shift changes

Skip size

17.5t

24.5t

+ 2,343 tpd capacity

Sub level spacing

30m

35m

6 km less development; C$20 million capital plus C$0.25/tonne operating cost savings

Average stope size

24,000t

37,000t

less stopes mined (slots/binder/cablebolts) (C$0.25/tonne)

Economies of scale

6,500 tpd

8,000 tpd

Fixed costs across more tonnes (C$6.50/tonne)

Long term average mining cost per tonne

C$40/t

C$10/t decreaseLOM

Young-Davidson - increasing mining rates & productivity

Q2/15

Q3/15

Q4/15

Q1/16

Q2/16

Q3/16

Q4/16

Q1/17

Q2/17

Q3/17

Q4/17

Q1/18

Q2/18

Q3/18

Q4/18

Q1/19

Q2/19

Q3/19

Q4/19

Q1/20

Q2/20

Q3/20

Q4/20

Gold production (oz)

39,365

38,201

44,694

39,065

42,644

43,629

44,662

40,400

47,300

55,800

56,500

41,000

39,100

49,000

50,900

45,000

45,000

50,000

48,000

28,700

23,100

36,400

48,000

Cost of sales1 (US$/oz)

$1,298

$1,165

$986

$1,058

$1,182

$1,032

$1,077

$1,148

$1,113

$966

$1,107

$1,273

$1,350

$1,276

$1,184

$1,293

$1,278

$1,191

$1,149

$1,515

$2,059

$1,421

$1,264

Total cash costs per oz. (2,3)

$697

$681

$617

$616

$738

$607

$667

$710

$677

$572

$690

$824

$890

$824

$764

$839

$822

$781

$766

$1,093

$1,564

$923

$792

Mine-site AISC per oz.(2,3)

$1,008

$979

$980

$846

$965

$849

$926

$851

$895

$744

$859

$994

$1,083

$1,029

$974

$1,068

$1,077

$960

$1,083

$1,242

$1,809

$1,196

$934

Underground mine

Tonnes mined per day

5,149

5,081

5,911

5,776

6,123

5,467

6,675

6,400

6,377

6,544

7,227

6,501

6,087

6,005

6,402

6,540

6,728

6,606

7,000

4,290

2,686

6,713

7,651

Grades (g/t)

2.6

2.6

2.6

2.6

2.4

2.8

2.4

2.6

2.6

2.9

2.7

2.4

2.4

2.6

2.7

2.5

2.4

2.6

2.7

2.2

2.5

2.24

2.20

Development metres

3,789

3,619

3,769

3,490

3,168

2,677

3,044

3,242

3,425

3,344

2,776

3,144

3,079

2,811

2,975

2,900

2,877

2,817

2,925

3,202

2,894

3,231

3,223

Unit UG mining costs (US$/t)

$33

$32

$294

$31

$34

$34

$32

$36

$33

$34

$34

$43

$41

$41

$38

$39

$40

$39

$39

$57

$82

$34

$34

Unit UG mining costs (CAD$/t)

$41

$41

$384

$42

$44

$45

$42

$47

$44

$43

$44

$54

$53

$54

$51

$52

$53

$51

$51

$77

$114

$45

$44

Mill processing facility

Tonnes processed per day

7,677

7,680

7,630

7,342

7,006

6,833

7,552

7,718

6,917

7,553

7,786

7,437

6,574

7,293

8,104

6,777

7,516

7,124

6,761

5,107

4,344

6,430

7,932

Grades (inc. OP stockpile)

2.0

1.9

2.2

2.1

2.1

2.4

2.2

2.2

2.5

2.7

2.6

2.2

2.2

2.4

2.4

2.5

2.3

2.5

2.7

1.9

1.85

2.19

2.21

Recoveries (%)

88%

92%

91%

90%

92%

93%

90%

89%

92%

93%

92%

90%

92%

93%

92%

90%

91%

92%

92%

91%

93%

93%

91%

  • 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

  • 3 Excludes Net Realizable Value ("NRV") inventory adjustments. See associated MD&A for a full reconciliation

  • 4 Excludes hydro rebate not attributable to Q4/15

Island Gold - high-grade, low-cost production

Location: Ontario, Canada

Ownership: 100% interestStage: Producing

Operation: Underground

  • • World's sixth highest grade gold mine1

  • • Phase III Shaft Expansion to 2,000 tpd expected to be completed 2025

  • • Significant exploration potential laterally & at depth

2019A

2020A

2021E

Gold Production (k oz)

150.4

139.0

130-145

Cost of Sales2 (US$/oz)

$864

$801

$785

Total Cash Costs3 (US$/oz)

$495

$451

$430-480

Mine-site AISC3 (US$/oz)

$656

$660

$750-800

Total Capital4,5 (US$m)

$53

$69

$120-130

Exploration Spending5 (US$m)

$17

$13

$25

Mine-site FCF3 (US$m)

$65

$101

-

Gold Reserves & Resources6

Tonnes (000)

Grade (g/t Au)

oz Au (000)

P&P Mineral Reserves

4,197

9.71

1,310

M&I Mineral Resources

718

7.18

166

Inferred Mineral Resources

6,915

14.43

3,208

  • 1 Source: Mines and Metals, July 13, 2020; based on reserve grade for deposits containing reserves of more than 1m oz

  • 2 Cost of sales includes mining and processing costs, royalties and amortization

  • 3 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

  • 4 Excludes capitalized exploration

  • 5 Exploration spending: Q4/20 totaled $4.3m, of which $3.8m was capitalized; FY/20 totaled $12.9m, of which $11.9m was capitalized; 2021 guidance of $25m includes $20m of capitalized exploration

  • 6 See Mineral Reserve and Resource estimates and associated footnotes in appendix

  • 7 Since 1985

Highly Productive Gold Mining District

Mine/ProjectCity

One of Canada's highest-grade gold mines

Mineral Reserve Grade (g/t Au)

22.1

Source: Company filings

S2000

2020

2021

2022

2023

2024

2025

Total capital (US$m)

2026

Operating cash flow (US$m)

  • • Modest investment required at $1,450/oz Au

  • • Spending on long lead items starting in 2021

2027

2028

2029

After-tax mine-site free cash flow (US$m)

  • • $170M average annual after-tax FCF starting in 2025 (post project3)

2030

2031

2032

2033

2034

2035

S2000

$332

2020

2021

2022

2023

2024

2025

Total capital (US$m)

2026

2027

2028

Operating cash flow (US$m)

2029

2030

2031

2032

After-tax mine-site free cash flow (US$m)

2033

2034

2035

Island Gold Shaft Expansion - detailed mine plan

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

2033

2034

2035

Mill Feed mined (tonnes)

438,000

437,999

437,994

439,198

557,150

719,805

730,000

731,957

729,934

729,951

730,000

731,947

730,000

721,154

296,654

Waste mined (tonnes)

440,063

611,313

688,082

478,034

317,066

336,839

471,093

414,888

371,636

255,838

190,337

32,774

571

-

-

Total tonnes mined

878,063 1,049,312 1,126,076 917,233

874,216 1,056,643 1,201,093 1,146,845 1,101,570 985,789

920,337

764,721

730,571

721,154

296,654

Grades (g/t Au)

10.17

9.85

8.37

9.70

13.08

11.41

9.22

10.62

13.91

8.81

9.37

10.32

11.09

9.60

9.77

Gold production (oz)

138,231

133,802

113,743

132,131

226,081

254,866

208,849

241,279

314,971

199,445

212,271

234,370

251,179

214,715

89,925

Operating costs

Unit mining costs (C$/tonne)

$103

$96

$97

$115

$108

$96

$84

$87

$91

$95

$95

$103

$103

$101

$92

Unit milling costs (C$/tonne)

$33

$33

$33

$34

$33

$30

$30

$30

$30

$30

$30

$30

$30

$30

$33

Unit G&A costs (C$/tonne)

$47

$47

$46

$48

$42

$36

$33

$34

$34

$35

$36

$39

$39

$39

$43

Total unit operating costs 2 (C$/tonne)

$195

$188

$188

$211

$200

$177

$159

$165

$175

$173

$174

$187

$187

$183

$179

Total cash costs (US$/oz) 1

$464

$460

$542

$527

$370

$375

$418

$375

$304

$475

$449

$438

$408

$460

$442

Mine-site AISC (US$/oz) 1

$771

$818

$941

$899

$566

$531

$668

$573

$437

$651

$592

$497

$469

$465

$442

Capital expenditures

Sustaining capex (US$ M)

$43

$48

$45

$49

$44

$40

$52

$48

$42

$35

$30

$14

$15

$1

$0

Growth capex (US$ M)

$82

$139

$117

$120

$21

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

  • 1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.

  • 2 Total unit operating costs are inclusive of royalties and silver credits which average a combined C$14/tonne over the life of mine

Island Gold - changes in Mineral Reserves as of December 31, 2020

Planned shaft

Crown pillar

- 1500 m

LEGEND

Ramp & Development Mined out

Diabase Dyke

R & R Year End 2020

Proven Reserves

Probable Reserves Measured Resources

Indicated Resources

Inferred Resources

340 Level

Mineral Reserves as of December 31, 2020

Category

Tonnage

Grade Au (g/t)

Ounces Au

Proven:

894,500

10.95

314,800

Probable:

3,302,900

9.37

995,200

TOTAL:

4,197,400

9.71

1,310,000

- 500 m

620 Level

840 Level

1,003,000 t at 9.14 g/t Au, 294,600 oz Au

(Gain of 93,800 oz Au)

Island East

1000 Level

998,900 t at 8.42 g/t Au, 270,400 oz Au

(Gain of 93,700 oz Au)

E

- 1000 m

- 1500 m

Island Gold - changes in Mineral Resources as of December 31, 2020

Crown pillar

E

LEGEND

Ramp & Development Mined out

Diabase Dyke

R & R Year End 2020

Proven Reserves

Probable Reserves Measured Resources

Indicated Resources

Inferred Resources

- 1500 m

Island Gold - Trillium Mining acquisition adds to significant exploration potential

  • • 56% increase in land package to 15,053 ha with C$25m Trillium Mining acquisition

  • • Significant exploration potential added in proximity to existing Mineral Resources & regionally

Island Gold - historical operational results

40,000

$2,000

16

35,000

30,000

25,000

20,000

15,000

10,000

5,000

0

0

Q4/14

$1,800

$1,600

$1,400

$1,200

$1,000

$800

$600

$400

$200

$0

14

12

10

8

6

4

2

Q1/15

1,400 1,200 1,000 800 600 400 200 0

Q2/15

Q3/15

Q4/15

Q1/16

Q2/16

Q3/16

Q4/16

Q1/17

Q2/17

Q3/17

Gold production (oz)

Q4/17

Q1/18

Q2/18

Q3/18

Q4/18

Q1/19

Q2/19

Q3/19

Q4/19

Mine-site AISC (US$/oz)

Q1/20

Q2/20

Q3/20

Q4/20

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

Tonnes processed per day

Q2/18

Q3/18

Q4/18

Q1/19

Q2/19

Q3/19

Q4/19

Milled Grades (g/t)

Q1/20

Q2/20

Q3/20

Q4/20

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 Q2/18

Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20

Gold production (oz)

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 26,700 22,000 29,000 35,600 39,500 36,700 38,600 38,800 19,400 39,600

41,200

Cost of sales1 (US$/oz)

$1,000 $1,027 $1,085 $950

$852

$824

$860

$918

$780 $1,056 $715

$791

Total cash costs (US$/oz) (2,3)

$1,144 $1,134 $772

$675

$763

$486

$588

$726

$619

$504

$431

$532

$419

$553

$587

$671

$570

$497

$473

$503

$507

$452

$501

$394

$481

Mine-site AISC (US$/oz) (2,3)

$1,809 $1,480 $1,059 $963 $1,183 $618

$799 $1,010 $683

$640

$503

$708

$574

$633

$668 $1,051 $834

$649

$631

$693

$653

$670

$781

$575

$676

Underground mine

Tonnes mined per day

399

552

759

669

657

853

911

735

977

1,019 1,148

917

1,026

941

902

814

1,116 1,083

991

978

1,116 1,240

819

1,209

1,234

Grades (g/t)

6.89

8.02

6.73

7.27

7.83

11.17

7.27

7.29

8.83

8.64

10.28

9.16

9.44

11.06

7.34

8.96

8.95 11.40 14.53 10.81 12.44 11.69 7.28 13.68

10.77

Development metres

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 1,771 1,591 1,560 1,557 1,568 1,211 1,831 1,952 931 1,430

1,854

Unit UG mining costs (CAD$)

$235

$234

$139

$140

$177

$146

$135

$151

$116

$125

$119

$127

$127

$151

$155

$162

$148

$150

$158

$171

$165

$120

$93

$106

$121

Mill processing facility

Tonnes processed per day

507

487

787

722

656

834

878

640

903

926

940

925

919

912

976

1,016 1,146 1,133 1,130 1,115 1,021 1,164

810

1,103

1,147

Grades (g/t)

6.28

7.87

6.73

7.27

7.62

11.31

7.51

7.70

9.31

9.18

9.73

10.04

8.46

11.07

8.71

8.22

9.02 11.11 12.23 11.12 13.03 11.73 8.32 13.62

11.88

Recoveries (%)

95.3% 97.2% 96.8% 97.1% 96.0% 96.3% 96.5% 96.4% 96.9% 96.7% 97.6%

97%

96%

96%

97%

96%

96%

97%

97%

97%

97%

97%

96%

97%

97%

  • 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

Mulatos - our founding operation

  • • Initial production 2005

  • • ~$485m of free cash flow2 generated to date

  • • Declining cost profile with connection to grid power & development of La Yaqui Grande

  • • No third party royalty

  • • Large underexplored land package (28,773 ha)

2019A

2020A

2021E

Gold Production (k oz)

142.0

150.8

150-160

Cost of Sales1 (US$/oz)

$982

$1,127

$1,145

Total Cash Costs2 (US$/oz)

$784

$816

$840-890

Mine-site AISC2 (US$/oz)

$868

$1,032

$1,060-1,110

Total Capital3 (US$m)

$53

$41

$125-135

Exploration Spending3 (US$m)

$5

$5

$9

Mine-site FCF2 (US$m)

($13)

$68

-

Gold Reserves & Resources4

Tonnes (000)

Grade (g/t Au)

oz Au (000)

P&P Mineral Reserves

33,935

1.24

1,351

M&I Mineral Resources

74,193

1.09

2,600

Inferred Mineral Resources

9,291

0.91

271

  • 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

  • 3 Exploration spending: 2020 totaled $5.1m including $0.9m capitalized; 2021 guidance of $9m all expected to be expensed

  • 4 See Mineral Reserve and Resource estimates and associated footnotes in appendix

Mulatos - district exploration potential

  • 1 See Mineral Reserve and Resource estimates and associated footnotes in appendix

  • 2 Includes Proven & Probable Reserves of 732,000 oz (18.2 mt at 1.25 g/t Au) for La Yaqui and Proven & Probable Reserves of 87,000 oz (1.4 mt at 1.9 g/t Au) for

    Cerro Pelon

La Yaqui Grande Internal Economic Study - 2020

La Yaqui Grande Project Highlights

Life of Mine1

Production

Mine life (years)

Total gold production (000 ounces)

Total silver production (000 ounces)

Average annual gold production (000 ounces)

Total ore mined (000 tonnes)

Average tonnes of ore mined & stacked (tonnes per day ("tpd"))

Average gold grade (grams per tonne)

Gold recovery (%)

Silver recovery (%)

Waste-to-ore ratio (Life of Mine including pre-strip)

Waste-to-ore ratio (post pre-strip)

5

616

1,471

123

19,205

10,000

1.17

85%

15%

5.50

4.04

Operating Costs

Mining costs per tonne of material (life of mine, including pre-stripping) Processing costs per tonne of ore

G&A costs per tonne of ore

Total cash cost (per ounce sold)2

Mine-site all-in sustaining cost (per ounce sold)2

$2.42

$5.05

$2.34

$539

$578

Capital Costs (millions) 1

Initial capital expenditure3 Sustaining capital expenditure Reclamation

Total capital expenditure, including reclamation

$137 $24 $35 $196

Base Case Economic Analysis1

IRR (after-tax)

NPV @ 0% discount rate (millions, after-tax)

NPV @ 5% discount rate (millions, after-tax)

Gold & silver price assumption (average, per ounce sold)

Exchange Rate (Mexican Peso/US Dollar)

41%

$226

$165

$1,450 / $18

21

Economic Analysis at $1,750 per ounce Gold Price1

IRR (after-tax)

NPV @ 0% discount rate (millions, after-tax)

NPV @ 5% discount rate (millions, after-tax)

Gold & silver price assumption (average, per ounce sold)

Exchange Rate (Mexican Peso/US Dollar)

58%

$345

$260

$1,750 / $18

21

  • 1. Capital spending and economic analysis (NPV and IRR) are calculated starting January 1, 2020

  • 2. Total cash costs and mine-site all-in sustaining costs include royalties and silver by-product credit

  • 3. Initial capital is offset by $5 million of pre-production revenue less operating costs

Development - Kirazlı, Ağı Dağı & Çamyurt

Location: Turkey Ownership: 100% interest

Stage: Development

Operation: Open pit, heap leach

  • • Kirazlı EIA, GSM & Forestry Permits approved

  • • Kirazlı & Ağı Dağı feasibility studies completed February 20171 outlining 185% increase in combined after-tax NPV8%

  • • Tax incentives & mining law supportive of industry

2017 Positive Economic Studies1

Kirazlı

Feasibility

Study

Ağı Dağı

Feasibility

Study

Çamyurt PEA

Mine Life

Years

5

6

4

Average Annual Production

oz Au

104,000

177,600

93,200

oz Ag

617,300

444,200

403,000

Average grade

g/t Au

0.79

0.67

0.92

Mine-site AISC2

US$m

$373

$411

$645

Initial Capex

US$m

$152

$250

$10

Total Capex

US$m

$180

$313

$26

After-tax NPV5%

US$m

$223

$360

$111

After-tax NPV8%

US$m

$187

$298

$86

After-tax IRR

%

44%

39%

253%

Gold Price Assumption

US$/oz

$1,250

$1,250

$1,250

  • 1 Please refer to press releases dated Feb 15 and Feb 22, 2017 regarding Kirazli & Agi Dagi feasibility studies & Camyurt preliminary economic assessment. The 185% increase is compared to the 2012 pre-feasibility study

  • 2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.

Kirazlı, Ağı Dağı & Çamyurt Economic Studies - 2017

Feasibility Study - 2017

Preliminary Economic Assessment - 2017

Kirazlı

Ağı Dağı

Çamyurt

Production

Mine life (years)

Total gold production (ounces) Total silver production (ounces) Average annual production (ounces)1

Gold

Silver

Total ore mined (tonnes) Total waste mined (tonnes)

5 540,000 3,141,000

104,000 617,300 26,100,000 37,900,000

6 937,300 2,365,200

177,600 444,200 54,361,000 55,893,000

4 373,200 1,612,600

93,200 403,000 16,580,000 30,874,000

Total material mined (tonnes) Waste-to-ore ratio2

Average grade (grams per tonne)

Gold

Silver Recovery (%) Gold

Silver

64,000,000 1.45 0.79 12.0

81% 31% 15,000

110,254,000 1.03

0.67

5.4

80% 25% 30,000

47,454,000 1.86

0.92

6.3

76% 48% 15,000

Average throughput (tpd)

Operating Costs

Total cost per tonne of ore3 Total cash cost (per ounce sold)4

Mine-site all-in sustaining cost (per ounce sold)4

$8.49 $339 $373

$6.46 $374 $411

$14.03 $604 $645

Capital Costs (millions)

Pre-production capital expenditure Sustaining capital expenditure Reclamation costs (net of salvage value)

$151.9 $18.1 $9.9

$250.3 $33.9 $28.8

$10.2 $9.4 $5.9

Total capital expenditure

$179.8

$312.9

$25.5

Economic Analysis

IRR (after-tax)

NPV @ 0% discount rate (after-tax, millions)

NPV @ 5% discount rate (after-tax millions)

NPV @ 8% discount rate (after-tax, millions)

44.3% $299.3 $222.9 $186.5

38.7% $492.8 $360.2 $297.6

253.0% $173.8 $111.4 $86.2

Gold price assumption (average, per ounce sold)

Silver price assumption (average, per ounce sold)

Exchange Rate (Turkish Lira/US Dollar)

$1,250 $16.00 2.90:1

$1,250 $16.00 2.90:1

$1,250 $16.00 2.90:1

  • 1 Average annual production is based on five full years of production for Kirazlı and Ağı Dağı and excludes pre-commercial production

  • 2 Reported waste-to-ore ratio is over the life of mine. The waste-to-ore ratio during commercial production is 0.70:1 for Ağı Dağı and 1.19:1 for Kirazlı in the 2017 feasibility study

  • 3 Total unit cost per tonne of ore excludes silver as a by-product credit

  • 4 Total cash costs and mine-site all-in sustaining costs include silver as a by-product credit

Development - Lynn Lake, Esperanza & Quartz Mountain

Lynn Lake

Location: Manitoba, Canada Ownership: 100% interest Stage: Permitting Operation: Open pit

  • • High grade, open pit with significant exploration potential

  • • Existing infrastructure in place

  • • Low cost hydroelectric power

  • • Feasibility study results announced Dec 20171

    • • Average production: 143 koz (Years 1-10)

    • • LOM Mine-site AISC2: $745

    • • After-tax NPV5%: $123m; IRR: 13%

Tonnes

Grade

Oz Au

(000)

(g/t Au)

(g/t Ag)

(000 Au)

(000 Ag)

P&P Reserves4

36,542

1.75

4.39

2,060

3,925

M&I Resources4

8,178

1.74

5.45

457

799

Inf. Resources

45,873

1.10

2.06

1,622

86

Esperanza

Location: Morelos State, Mexico Ownership: 100% interest Stage: Permitting

Operation: Open pit, heap leach

  • • Excellent infrastructure; low technical risk

  • • Low capital intensity & operating costs

  • • Average annual production potential > 100k oz

  • • AISC expected to be lowest quartile2

Tonnes

Grade

Oz Au

(000)

(g/t Au)

(g/t Ag)

(000 Au)

(000 Ag)

M&I Resources4

34,352

0.98

8.09

1,083

8,936

Inf. Resources

718

0.80

15.04

18

347

Quartz Mountain

Location: Oregon, United States

Ownership: Right to earn a 100% interest4 Stage: Advanced Exploration

  • • Located on northern extension of prolific Basin & Range Province of Nevada

  • • Low strip ratio, favourable metallurgy3

  • • Acquisition cost $3.5m5

Tonnes

Grade

Oz Au

(000)

(g/t Au)

(000 Au)

M&I Resources4

12,156

0.87

339

Inferred Resources

39,205

0.91

1,147

  • 1 Lynn Lake December 2017 feasibility study based on gold and silver price assumptions of $1250 and $16 per ounce, respectively. See press release dated December 14, 2017 for more details

  • 2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

  • 3 Historic column recovery tests for gold at Quartz Mountain varied between 74% and 88% for the felsic rock hosted mineralization; see Orsa Ventures press release dated February 12, 2013

  • 4 See Mineral Reserve and Resource estimates and associated footnotes in appendix

  • 5 Additional C$3m due on completion of feasibility study & C$15m or 2% NSR upon successful permitting

Lynn Lake Feasibility Study - 2017

Feasibility Study Highlights - December 2017

Production

Mine life (years)

Total gold production (000 ounces) Total silver production (000 ounces)

Average annual gold production1

Years 1 to 6 (000 ounces) Years 1 to 10 (000 ounces)

Total ore mined (000 tonnes) Total waste mined (000 tonnes)

10.4

1,495 1,263

170 143 26,803 195,188

Total material mined (000 tonnes)

Waste-to-ore ratio2

Average grade (grams per tonne) Gold

Silver

Recovery (%)

Gold (Average MacLellan and Gordon) Silver (MacLellan only)

Average mill throughput (tonnes per day ("tpd"))

221,991

7.28

1.89 2.99

92% 49% 7,000

Operating Costs

Total cost per tonne of ore3

Total cash cost (per ounce sold)4

Mine-site all-in sustaining cost (per ounce sold)4

$36.06 $645 $745

Capital Costs (millions)

Pre-production capital expenditure Sustaining capital expenditure Reclamation costs

$338.0 $126.6 $21.1

Total capital expenditure

$485.6

Base Case Economic Analysis

IRR (after-tax)

NPV @ 0% discount rate (millions, after-tax)

NPV @ 5% discount rate (millions, after-tax)

Gold price assumption (average, per ounce sold)

Silver price assumption (average, per ounce sold)

Exchange Rate (US Dollar/Canadian Dollar)

12.5%

$279.0

$123.4

$1,250

$16.00

0.75

  • 1. Average annual production excludes pre-commercial production

  • 2. Reported waste-to-ore ratio is over the life of mine and includes overburden as waste. The waste-to-ore ratio during commercial production is 7.06:1

  • 3. Total unit cost per tonne ("t") of ore includes royalties and silver as a by-product credit

  • 4. Total cash costs and mine-site all-in sustaining costs include royalties and silver as a by-product credit

Proven & Probable Mineral Reserves

PROVEN AND PROBABLE GOLD MINERAL RESERVES (as at December 31, 2020)

Proven Reserves

Probable Reserves

Total Proven and Probable

Tonnes (000's)Grade (g/t Au)Ounces (000's)

Tonnes (000's)Grade (g/t Au)Ounces (000's)

Tonnes (000's)Grade (g/t Au)Ounces (000's)

Young-Davidson

20,614

2.50

1,657

20,577

2.38

1,574

41,191

2.44

3,232

Island Gold

894

10.95

315

3,303

9.37

995

4,197

9.71

1,310

Mulatos Main Pits Stockpiles

La Yaqui Grande Cerro Pelon

668 8,854 0 502

0.97 21

1.30 369

0.00 0

1.89 31

4,779 0 18,203 929

0.92 142

0.00 0

1.25 732

1.91 57

5,447 8,854 18,203 1,431

0.93 163

1.30 369

1.25 732

1.90 87

Total Mulatos

10,024

1.30

420

23,911

1.21

931

33,935

1.24

1,351

MacLellan Gordon

12,059 2,311

1.83 710

1.83 210

15,761 6,412

1.33 672

2.27 468

27,820 8,723

1.54 2.42

1,382 678

Total Lynn Lake

14,370

1.99

920

22,172

1.60

1,140

36,542

1.75

2,060

Ağı Dağı Kirazlı

1,450 670

0.76 36

1.15 25

52,911 33,191

0.66 0.68

1,130 727

54,361 33,861

0.67 0.69

1,166 752

Total Turkey

2,120

0.89

61

86,102

0.67

1,857

88,222

0.68

1,918

Alamos - Total

48,022

2.18

3,373

156,065

1.29

6,498

204,087

1.50

9,870

PROVEN AND PROBABLE SILVER MINERAL RESERVES (as at December 31, 2020)

Proven Reserves

Probable Reserves

Total Proven and Probable

Tonnes (000's)Grade (g/t Ag)Ounces (000's)

Tonnes (000's)Grade (g/t Ag)Ounces (000's)

Tonnes (000's)Grade (g/t Ag)Ounces (000's)

La Yaqui Grande Cerro Pelon MacLellan

Ağı Dağı Kirazlı

0

0.00 0

502

21.03 339

12,059

4.94 1,914

1,450

6.22 290

670

16.94 365

18,203

19.55 11,442

929

20.74 619

15,761

3.97 2,011

52,911

5.39 9,169

33,191

9.27 9,892

18,203

19.55 11,442

1,431

20.84 959

27,820

4.39 3,925

54,361

5.41 9,459

33,861

9.42 10,257

Alamos - Total

14,681

6.16

2,909

120,995

8.52

33,133

135,676

8.26

36,042

Total Measured & Indicated Mineral Resources

MEASURED AND INDICATED GOLD MINERAL RESOURCES (as at December 31, 2020)

Measured Resources

Indicated Resources

Total Measured and Indicated

Tonnes

Grade

Ounces

Tonnes

Grade

Ounces

Grade

Ounces

(000's)

(g/t Au)

(000's)

(000's)

(g/t Au)

(000's)

(g/t Au)

(000's)

Young-Davidson - Surface

496

1.13

18

1,242

1.28

51

1.24

69

Young-Davidson - Underground

6,019

3.44

665

3,253

3.88

406

3.59

1,071

Total Young-Davidson

6,515

3.26

683

4,495

3.16

457

3.22

1,140

Island Gold

14

4.61

2

704

7.23

164

7.18

166

Mulatos

8,207

1.25

329

63,112

1.08

2,189

1.10

2,518

La Yaqui Grande

0

0.00

0

1,237

0.81

32

0.80

32

Cerro Pelon

74

1.92

5

208

1.39

9

1.54

14

Carricito

58

0.82

2

1,297

0.82

34

0.83

36

Total Mulatos

8,339

1.25

336

65,854

1.07

2,264

1.09

2,600

MacLellan - Open Pit

902

2.07

60

3,532

1.71

194

1.78

254

MacLellan - Underground

0

0.00

0

123

3.54

14

3.54

14

Gordon

105

1.86

6

1,511

2.06

100

2.05

106

Burnt Timber

0

0.00

0

1,021

1.40

46

1.40

46

Linkwood

0

0.00

0

984

1.16

37

1.17

37

Total Lynn Lake

1,007

2.04

66

7,172

1.70

391

1.74

457

Esperanza

19,226

1.01

622

15,126

0.95

462

0.98

1,084

Ağı Dağı

553

0.44

8

34,334

0.46

510

0.46

518

Kirazlı

0

0.00

0

3,056

0.42

42

0.43

42

Çamyurt

513

1.00

16

17,208

0.89

492

0.89

508

Total Turkey

1,066

0.70

24

54,598

0.59

1,044

0.60

1,068

Quartz Mountain

214

0.95

7

11,942

0.87

333

0.87

339

Alamos - Total

36,381

1.49

1,740

159,891

1.00

5,115

6,855

Tonnes (000's) 1,739 9,272 11,011 718 71,319 1,237 282 1,355 74,193

984 8,178 34,352 34,887 3,056 17,721 55,664 12,156 196,272

4,434

1,617

1,021

123

1.09

MEASURED AND INDICATED SILVER MINERAL RESOURCES (as at December 31, 2020)

Measured Resources

Indicated Resources

Total Measured and Indicated

Tonnes (000's)Grade (g/t Ag)Ounces (000's)

Tonnes (000's)Grade (g/t Ag)Ounces (000's)

Tonnes (000's)Grade (g/t Ag)Ounces (000's)

La Yaqui Grande Cerro Pelon MacLellan - Open Pit MacLellan - Underground Esperanza

Ağı Dağı Kirazlı

Çamyurt

0

0.00 0

74

16.80 40

902

8.55 248

0

0.00 0

19,226

7.25 4,482

553

1.59 28

0

0.00 0

513

5.63 93

1,237

11 448

208

17 114

3,532

4.64 527

123

6.05 24

15,126

9.16 4,455

34,334

2.19 2,417

3,056

2.71 266

17,208

6.15 3,404

1,237

11 448

282

17 154

4,434

5.44 775

123

6.05 24

34,352

8.09 8,936

34,887

2.18 2,445

3,056

2.71 266

17,721

6.14 3,497

Alamos - Total

21,268

7.15

4,890

74,824

4.84

11,655

96,092

5.36 TSX:AGI ǀ NYS1E6:A,5G4I5

Total Inferred Mineral Resources

INFERRED GOLD MINERAL RESOURCES (as at December 31, 2020)

Tonnes (000's)Grade (g/t Au)Ounces (000's)

Young-Davidson - Surface Young-Davidson - Underground

31 2,301

0.99 1

2.88 213

Total Young-Davidson

2,331

2.86

214

Island Gold

6,915

14.43

3,208

Mulatos

La Yaqui Grande Cerro Pelon Carricito

8,122 243 26 900

0.92 239

1.12 9

0.71 1

0.74 22

Total Mulatos

9,291

0.91

271

MacLellan - Open Pit MacLellan - Underground Gordon

Burnt Timber Linkwood

1,227

1.11 44

72

3.69 9

132

1.36 6

23,438

1.04 781

21,004

1.16 783

Total Lynn Lake

45,873

1.10

1,622

Esperanza

718

0.80

18

Ağı Dağı Kirazlı

Çamyurt

16,760 7,694 2,791

0.46 245

0.61 152

0.95 85

Total Turkey

27,245

0.55

482

Quartz Mountain

39,205

0.91

1,147

Alamos - Total

131,579

1.65

6,962

INFERRED SILVER MINERAL RESOURCES (as at December 31, 2020)

Tonnes (000's)Grade (g/t Ag)Ounces (000's)

La Yaqui Grande Cerro Pelon MacLellan - Open Pit MacLellan - Underground Esperanza

Ağı Dağı Kirazlı

Çamyurt

243

7.35 57

26

4.99 4

1,227

1.98 78

72

3.26 8

718

15.04 347

16,760

2.85 1,536

7,694

8.71 2,155

2,791

5.77 518

Alamos - Total

29,531

4.95

4,703

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 43-101 ("NI 43-101"). The Qualified Persons for the National Instrument 43-101 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, 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, Lynn Lake

Nathan Bourgeault, 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 Resources as at December 31, 2020 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 43-101 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 Pit, 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.

  • • With the exception of the Mulatos main open pit, 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. As the Mulatos main open pit has a Mineral Reserve life remaining of less than two years, a gold price of $1,400 was used.

  • • Metal prices, cut-off grades and metallurgical recoveries are set out in the table below.

Resources

Reserves

Gold Price

Cut-off

Gold Price

Cut-off

Met Recovery

Mulatos:

Mulatos Main Open Pit

$1,400

0.5

See notes

see notes

>50%

Cerro Pelon

$1,400

0.3

$1,250

see notes

75%

La Yaqui

$1,400

0.3

$1,250

see notes

75%

Carricito

$1,400

0.3

n/a

n/a

n/a

Young-Davidson - Surface

$1,400

0.5

$1,250

0.5

91%

Young-Davidson - Underground

$1,400

1.3

$1,250

1.7

91%

Island Gold

$1,400

3.5

$1,250

2.18-4.66

96.5%

Lynn Lake - MacLellan

$1,400

0.42

$1,250

0.47

91-92%

Lynn Lake - MacLellan Underground

$1,400

2.0

n/a

n/a

n/a

Lynn Lake - Gordon

$1,400

0.62

$1,250

0.69

89-94%

Esperanza

$1,400

0.4

n/a

n/a

60-72%

Ağı Dağı

$1,400

0.2

$1,250

see notes

80%

Kirazlı

$1,400

0.2

$1,250

see notes

81%

Çamyurt

$1,400

0.2

n/a

n/a

78%

Quartz Mountain

$1,400

0.21 Oxide, 0.6 Sulfide

n/a

n/a

65-80%

Scott K. Parsons, CFA

VP, Investor Relations 416.368.9932 x 5439sparsons@alamosgold.com

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Alamos Gold Inc. published this content on 26 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 February 2021 09:32:07 UTC.