Toronto - Minera Alamos Inc. (the 'Company' or 'Minera Alamos') (TSX VENTURE: MAI) is pleased to announce the positive results of an independent estimate of the Mineral Resources at the Cerro de Oro Project (the 'Project') in Zacatecas, Mexico.
The Resource Estimate was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ('NI 43-101') by Talisker Exploration Services Inc.
Highlights
Inferred Mineral Resource estimate containing 630,000 ounces of oxide gold mineralization (48 million tonnes @ 0.41 g/t gold).
The resource estimate was prepared using an economic pit shell at a gold price of $1450 per ounce resulting in a total enclosed pit volume containing 59 million tonnes.
The Company has identified a number of high priority target areas for future drill programs aimed at expanding the known mineralized areas.
A limited number of diamond drill holes have demonstrated the potential for sulphide mineralization to extend to depth below the current estimate area.
'This Mineral Resource estimate is an excellent start for the Cerro de Oro gold project. With this in hand we are confident about rapidly advancing the work required to put us on a path toward a production decision at Cerro de Oro following the initial start up of operations at Santana.' stated Darren Koningen, CEO. 'Our fast-track development plans for the project will include the submission of permit applications early in the new year for the construction of a new gold heap leach operation. All indications are that this inaugural resource can be expanded significantly through additional drilling planned for 2021. We are particularly excited about the deeper sulphide potential which appears to be extensive but was largely ignored by historical drilling programs. Metallurgical studies are already underway to examine the potential for this material to be incorporated into future development plans.'
Cerro de Oro Project Mineral Resource Estimate
Talisker Exploration Services Inc. of Toronto, Ontario estimates the Cerro de Oro Project, using a gold price of US$1,450/oz and a cut-off grade of 0.18 g/t, has an Inferred Mineral Resource of 48 million tonnes grading 0.41 g/t gold or 630,000 ounces of contained gold.
Contact:
Doug Ramshaw
Tel: 604-600-4423
Email: dramshaw@mineraalamos.com
About Minera Alamos Inc.
Minera Alamos is a gold development company poised to join the ranks of gold producers in 2021. The Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach development project in Sonora that is currently under construction, and which is expected to have its first gold production in early 2021. The newly acquired 100%-owned Cerro de Oro oxide gold project in northern Zacatecas that has considerable past drilling and metallurgical work completed and could enter the permitting process rapidly. The La Fortuna open pit gold project in Durango (100%-owned) has an extremely robust and positive preliminary economic assessment (PEA) completed and the Company is nearing the end of the permitting process for the project. A construction decision on La Fortuna could be made in late 2020 or early 2021, highlighting the organic growth the existing project portfolio can provide to the overall production profile. Minera Alamos is built around its operating team that together brought 3 mines into production in Mexico over the last 13 years.
Caution Regarding Forward-Looking Statements:
This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain 'forward-looking statements', which often, but not always, can be identified by the use of words such as 'believes', 'anticipates', 'expects', 'estimates', 'may', 'could', 'would', 'will', or 'plan'. These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements with respect to Minera Alamos' future plans with respect to the Projects, objectives or goals, to the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release of a resource and reserve estimate on the Projects. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos' mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos' financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos' activities and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos' forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera Alamos' forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws.
MINERA ALAMOS INC. 
