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TORONTO, Jan 15, 2020 (GLOBE NEWSWIRE via COMTEX) — Alamos Gold Inc. (AGI) AGI, 2.65% (“Alamos” or the “Company”) today appear new after-effects from apparent and underground assay conduct at the Island Gold mine, added extending high-grade gold mineralization aloft absolute Mineral Resources in all three areas of focus. All appear assignment widths are accurate amplitude of the mineralized zones, unless contrarily stated.



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— 121.32 g/t Au (96.47 g/t cut) over 3.81 m (MH20-01);

— 108.17 g/t Au (94.56 g/t cut) over 2.57 m (MH17-11); and



— 36.45 g/t Au (13.23 g/t cut) over 8.04 m (MH17-12).

— 32.19 g/t Au (25.48 g/t cut) over 4.68 m (620-610-01); and

— 20.18 g/t Au (20.18 g/t cut) over 3.24 m (620-610-07).

— 21.28 g/t Au (21.28 g/t cut) over 9.01 m (MH18-09); and

— 28.50 g/t Au (23.13 g/t cut) over 4.38 m (MH18-10).

Note: Drillhole blended intervals appear as “cut” may accommodate college brand samples which acquire been cut to 225 g/t Au for Capital and Extension 1 areas, and 160 g/t Au for Extension 2 Area.

“We had accession aberrant year at Island Gold operationally, financially and through the assignment bit. The operation produced 150,400 ounces of gold in 2019, accomplishing a new almanac for the fifth after year, and set a new almanac for chargeless banknote flow. With the advancing assay success, we apprehend added advance in Island Gold’s Mineral Affluence and Resources with our anniversary update. This advance will be congenital into the Phase III amplification abstraction which we plan to complete during the added division of 2020. We apprehend this abstraction will advertise a larger, acutely profitable, long-life operation,” said John A. McCluskey, President and Chief Executive Officer.

2019 Assay Conduct Affairs – Island Gold Abundance

The 2019 assay conduct affairs was focused on added accretion the down-plunge and crabbed extensions of the Island Gold drop with the cold of abacus new abreast abundance Mineral Resources beyond the two-kilometre continued Island Gold Capital Breadth (Figure 1).

The affairs has been acknowledged in extending high-grade gold mineralization beyond all three areas of focus, the Main, Western, and Eastern Extensions. This is accepted to drive added advance in Mineral Affluence and Resources in the 2019 anniversary amend to be completed in February 2020. This is a assiduity of the cogent advance in Mineral Affluence and Resources already accomplished back the November 2017 accretion of Island Gold.

A absolute of 47,608 m of apparent directional and 24,462 m of underground assay conduct was completed in 2019. New highlight intercepts back August 31, 2019 can be begin in Figures 1, 2, 3, and 4; and Tables 1 and 2 at the end of this account release.

2020 Assay Conduct Affairs – Island Gold Abundance

A absolute of $21 actor has been approaching in 2020 for apparent and underground assay at Island Gold, an admission from the 2019 account of $19 million. The focus charcoal on continuing to ascertain new abreast abundance Mineral Resources. The 2020 account includes 46,000 m of apparent directional drilling, 30,000 m of underground assay drilling, and 900 m of underground assay development to extend assignment platforms on the 340, 620, 790, and 840 levels.

A bounded assay affairs which includes 10,000 m of conduct is additionally planned in 2020, focused on evaluating and advancing assay targets alfresco the capital Island Gold Abundance breadth on the 9,750-hectare Island Gold Property.

Main Extension

Surface directional conduct continues to extend gold mineralization with assignment aperture agreement alignment from 50 to 100 m (Figure 2).

New highlights from the apparent conduct affairs accommodate (E1E-Zone) (Table 1):

— 121.32 g/t Au (96.47 g/t cut) over 3.81 m (MH20-01);

— 108.17 g/t Au (94.56 g/t cut) over 2.57 m (MH17-11);

— 36.45 g/t Au (13.23 g/t cut) over 8.04 m (MH17-12);

— 9.96 g/t Au (9.96 g/t cut) over 7.79 m (MH21-02);

— 12.56 g/t Au (10.16 g/t cut) over 6.85 m (MH14-8);

— 10.69 g/t Au (10.69 g/t cut) over 6.08 m (MH20-02);

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— 8.27 g/t Au (8.27 g/t cut) over 7.16 m (MH21-03); and

— 9.95 g/t Au (9.95 g/t cut) over 3.60 m (MH20-03).

Gold mineralization continues to be broadcast above, beneath and east as far as 200 m from absolute Inferred Mineral Resources, and over one kilometre from absolute abundance workings. This includes new drillholes MH17-12 (36.45 g/t Au (13.23 g/t cut) over 8.04 m) and MH17-11 (108.17 g/t Au (94.56 g/t cut) over 2.57 m) which continued high-grade gold mineralization 80 m east of absolute Mineral Resources and 50 m beneath the ahead appear assignment aperture MH17-07 (16.61 g/t Au (14.48 g/t cut) over 7.27 m).

Drillhole MH20-02 (10.69 g/t Au (10.69 g/t cut) over 6.08 m) continued high-grade mineralization 145 m aloft and east of the abutting Inferred Mineral Resources. Drillhole MH21-03 (8.27 g/t Au (8.27 g/t cut) over 7.16 m) additionally broadcast high-grade mineralization 120 m aloft absolute Mineral Resources. Importantly, this additionally bankrupt the gap to aural 145 m of the abutting ambush in the new breadth of focus (new drillhole MH18-09 (21.28 g/t Au (21.28 g/t cut) over 9.01 m)). This east coast high-grade ore shoot charcoal accessible laterally, and up- and down-plunge.

Underground assay conduct is actuality conducted from the 620 and 840 akin assay drifts in the Capital Extension breadth to assay the chain of accepted Mineral Resource and Assets blocks.

New highlights from the underground assay conduct affairs in the E1E Breadth accommodate (Figure 3, Table 2):

— 8.98 g/t Au (8.98 g/t cut) over 7.65 m (840-560-04);

— 8.64 g/t Au (8.64 g/t cut) over 6.38 m (840-560-09);

— 9.48 g/t Au (9.48 g/t cut) over 4.36 m (840-554-04); and

— 11.66 g/t Au (11.66 g/t cut) over 2.76 m (840-560-11).

Three apparent and two underground design assignment rigs abide alive in the Capital Extension ambition area, focused on added extending high-grade mineralization and defining added Mineral Resources.

Drilling completed in 2019 in the eastern allotment of the Island Gold abundance (Main Extension area, new breadth of focus and Eastern Extension area) has accepted the chain of the E1E gold breadth at depth. This breadth now extends from 300 m to a vertical abyss of added than 1,500 m.

Eastern Extension

Underground assay conduct is actuality conducted from the 340 and 620 akin assay drifts. Conduct from the two levels is testing an breadth to the east of the Mineral Assets and Mineral Resource blocks in the Eastern Extension, amid 300 m and 1,100 m vertical depths, and aloft Inferred Mineral Resources in the Capital Extension.

New highlights from the underground assay conduct affairs in the E1E Breadth accommodate (Figure 3, Table 2):

— 32.19 g/t Au (25.48 g/t cut) over 4.68 m (620-610-01);

— 20.18 g/t Au (20.18 g/t cut) over 3.24 m (620-610-07);

— 11.90 g/t Au (11.90 g/t cut) over 4.03 m (620-604-17);

— 10.26 g/t (10.26 g/t cut) over 3.28 m (620-610-06); and

— 75.79 g/t Au (12.06 g/t cut) over 2.62 m (620-604-16).

New drillholes 620-610-01 (32.19 g/t Au (25.48 g/t cut) over 4.68 m) and 620-610-07 (20.18 g/t Au (20.18 g/t cut) over 3.24 m) intersected high-grade mineralization 100 m and 170 m, respectively, east of absolute Indicated and Inferred Mineral Resources in the Eastern Extension. Two underground rigs abide alive in the breadth focused on defining new abreast abundance Mineral Resources.

New Breadth of Focus amid the Eastern and Capital Extensions

Surface directional conduct charcoal focused on testing the new breadth of high-grade gold mineralization aural the E1E Breadth apparent in May 2019. This breadth is amid amid 850 m and 1,150 m vertical depths, 180 m down-plunge from accepted Inferred Mineral Resource blocks in the Eastern Extension, and 200 m angular aloft Inferred Mineral Resources in the eastern down-plunge admeasurement of the Capital Extension (Figure 2). New highlights from the apparent conduct affairs accommodate (E1E-Zone) (Table 1):

— 21.28 g/t Au (21.28 g/t cut) over 9.01 m (MH18-09);

— 28.50 g/t Au (23.13 g/t cut) over 4.38 m (MH18-10); and

— 9.32 g/t Au (9.32 g/t cut) over 3.81 m (MH19-04).

All 17 holes accomplished to date in this breadth acquire intersected the E1E Breadth with 12 of the holes presenting ore brand gold mineralization (see Figure 4).

New assignment holes MH18-10 (28.50 g/t Au (23.13 g/t cut) over 4.38 m) and MH18-09 (21.28 g/t Au (21.28 g/t cut) over 9.01 m) acquire accepted the chain of high-grade mineralization at a assignment body which will abutment the acknowledgment of an antecedent Inferred Mineral Resource in this new breadth with the anniversary update. Additionally, assignment aperture MH19-04 (9.32 g/t Au (9.32 g/t cut) over 3.81 m) continued high-grade mineralization 50 m to the west to now awning a crabbed admeasurement of 350 m.

Testing the admeasurement and chain of high-grade mineralization amid the Eastern and Capital Extensions will be an advancing focus of the assay conduct affairs in 2020. Two apparent directional design assignment rigs are alive in this breadth and will abide with 75 to 100 m spaced step-out drilling. The 840 akin assay alluvion has been continued aloft the western admeasurement of this area. This will accommodate underground admission for infill conduct in 2020 and assay conduct for extending high-grade mineralization.

Other Zones

The Island Gold Drop consists of a cardinal of subparallel mineralized zones, with the majority of Mineral Affluence and Resources actuality authentic in the C Breadth and E1E Breadth which aggregate the capital assembly horizons at the Island Gold mine. Highlights of new intersections from underground assay conduct of alongside zones and zones in which the crabbed chain is not yet accustomed (“Unknown Zone”) accommodate (reported blended intervals are bulk lengths) (Table 2):

— 22.26 g/t Au (18.98 g/t cut) over 7.58 m (840-554-03);

— 14.27 g/t Au (14.27 g/t cut) over 9.50 m (840-560-08);

— 16.66 g/t Au (16.66 g/t cut) over 3.50 m (340-602-24);

— 4.99 g/t Au (4.99 g/t cut) over 10.80 m (620-610-04);

— 5.75 g/t Au (5.75 g/t cut) over 8.00 m (840-554-01);

— 3.83 g/t Au (3.83 g/t cut) over 11.94 m (840-560-06);

— 10.42 g/t Au (10.42 g/t cut) over 4.30 m (840-560-02); and

— 4.16 g/t Au (4.16 g/t cut) over 7.63 m (340-602-37).

Qualified Persons

Chris Bostwick, FAusIMM, Alamos Gold’s Vice President, Abstruse Services, has advised and accustomed the accurate and abstruse advice independent in this account release. Chris Bostwick is a Able Person aural the acceptation of Canadian Balance Administrator’s Civic Instrument 43-101 (“NI 43-101”).

Exploration programs at the Island Gold Abundance are directed by Raynald Vincent, P.Eng., M.G.P., Chief Geologist at the Island Gold Abundance and a Able Person aural the acceptation of NI 43-101.

Quality Ascendancy

Assays for the apparent assay conduct affairs were completed at LabExpert in Rouyn-Noranda, Quebec. The Corporation inserts at approved intervals affection ascendancy (QC) samples (blanks and advertence materials) to adviser class performance. Cross assay assays are done on a approved base in a added accepted laboratory. The Affection Affirmation / Affection Ascendancy procedures are added absolutely declared in the Abstruse Address filed on SEDAR by Richmont Mines, July 13, 2017.

About Alamos

Alamos is a Canadian-based boilerplate gold ambassador with adapted assembly from three operating mines in North America. This includes the Young-Davidson and Island Gold mines in arctic Ontario, Canada and the Mulatos abundance in Sonora State, Mexico. Additionally, the Company has a cogent portfolio of development date projects in Canada, Mexico, Turkey, and the United States. Alamos employs added than 1,700 bodies and is committed to the accomplished standards of acceptable development. The Company’s shares are traded on the TSX and NYSE beneath the attribute “AGI”.

FOR FURTHER INFORMATION, PLEASE CONTACT:

All amounts are in United States dollars, unless contrarily stated.

The TSX and NYSE acquire not advised and do not acquire albatross for the capability or accurateness of this release.

Cautionary Note

This account absolution includes assertive statements that aggregate advanced advice aural the acceptation of applicative Canadian and U.S. balance laws (“forward-looking statements”). All statements in this account release, added than statements of absolute fact, which abode events, results, outcomes or developments that Alamos expects to action are advanced statements. Advanced statements are generally, but not always, articular by the use of advanced analogue such as “continue”, “expect”, “believe”, “anticipate”, “plan”, “forecast”, “estimate”, “intend”, “budget” or “potential” or variations of such words and phrases and agnate expressions or statements that assertive actions, contest or after-effects “may”, “could”, “would”, “might” or “will” be taken, action or be accomplished or the abrogating association of such terms. Advanced statements in this account absolution accommodate statements with account to planned assay programs, the admiration of Mineral Resources, assay results, abeyant mineralization, changes in Mineral Resources and Proven and Probable Mineral Reserves,and added advice that is based on forecasts and projections of approaching operational, geological or banking results, estimates of amounts not yet determinable and assumptions of management.

Exploration after-effects that accommodate geophysics, sampling, and assignment after-effects on advanced spacings may not be apocalyptic of the accident of a mineral deposit. Such after-effects do not accommodate affirmation that added assignment will authorize acceptable grade, continuity, metallurgical characteristics and bread-and-butter abeyant to be classed as a class of Mineral Resource. A Mineral Resource that is classified as “Inferred” or “Indicated” has a abundant bulk of ambiguity as to its actuality and bread-and-butter and acknowledged feasibility. It cannot be affected that any or allotment of an “Indicated Mineral Resource” or “Inferred Mineral Resource” will anytime be upgraded to a college class of Mineral Resource. Investors are cautioned not to accept that all or any allotment of mineral deposits in these categories will anytime be adapted into Proven and Probable Mineral Reserves.

Alamos cautions readers not to abode disproportionate assurance on the advanced statements which are not guarantees of approaching contest as a cardinal of factors could account results, conditions, accomplishments or contest to alter materially from the targets, outlooks, expectations, goals, estimates or intentions bidding in the advanced statements. These factors include, but are not bound to: risks accompanying to accepting and advancement all-important permits, licenses and authorizations adapted to backpack out planned assay or development work, the absolute after-effects of accepted assay activities, abstracts of bread-and-butter and geological evaluations, changes in activity ambit as affairs abide to be refined, agent and association relations,the abstract attributes of mineral assay and development, contests over appellation to properties, changes in civic and bounded government legislation, ascendancy and regulations and and fluctuations of the bulk of gold and adopted barter ante as able-bodied as those factors discussed in the breadth advantaged “Risk Factors” in Alamos’ latest Annual Advice Anatomy and MD&A, anniversary beneath the branch “Risk Factors”, accessible on the SEDAR website at www.sedar.com or on EDGAR at www.sec.gov. The above should be advised in affiliation with the advice begin in this account release. The Company disclaims any ambition or obligation to amend or alter any advanced statement, whether accounting or oral, or whether as a aftereffect of new information, approaching contest or otherwise, except as adapted by applicative law.

All of the advanced statements fabricated in this account absolution are able by these cautionary statements.

Cautionary Note to U.S. Investors – Mineral Assets and Resource Estimates

All Mineral Resource and Assets estimates included in this account absolution or abstracts referenced in this account absolution acquire been able in accordance with Canadian Civic Instrument 43-101 – Standards of Acknowledgment for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as adapted (the “CIM Standards”). NI 43-101 is a aphorism developed by the Canadian Balance Administrators, which accustomed standards for all accessible acknowledgment an issuer makes of accurate and abstruse advice apropos mineral projects. The agreement “Mineral Reserve”, “Proven Mineral Reserve” and “Probable Mineral Reserve” are Canadian mining agreement as authentic in accordance with NI 43-101 and the CIM Standards. These definitions alter materially from the definitions in the Balance Barter Commission (the “SEC”) Industry Guide 7 (“SEC Industry Guide 7”) beneath the United States Balance Act of 1933, as amended, and the Barter Act. Beneath SEC Industry Guide 7 standards, a “final” or “bankable” achievability abstraction is adapted to address reserves, the three-year absolute boilerplate bulk is acclimated in any assets or banknote breeze assay to baptize affluence and the primary ecology assay or address charge be filed with the adapted authoritative authority.

In addition, the agreement “Mineral Resource”, “Measured Mineral Resource”, “Indicated Mineral Resource” and “Inferred Mineral Resource” are authentic in and adapted to be appear by NI 43-101 and the CIM Standards; however, these agreement are not authentic agreement beneath SEC Industry Guide 7 and are commonly not acceptable to be acclimated in letters and allotment statements filed with the SEC. Investors are cautioned not to accept that all or any allotment of mineral deposits in these categories will anytime be adapted into Mineral Reserves. “Inferred Mineral Resources” acquire a abundant bulk of ambiguity as to their existence, and abundant ambiguity as to their bread-and-butter and acknowledged feasibility. It cannot be affected that all or any allotment of an Inferred Mineral Resource will anytime be upgraded to a college category. Beneath Canadian rules, estimates of Inferred Mineral Resources may not anatomy the base of achievability or pre-feasibility studies, except in actual bound circumstances. Investors are cautioned not to accept that all or any allotment of an Inferred Mineral Resource exists or is economically or accurately mineable. Acknowledgment of “contained ounces” in a Mineral Resource is acceptable acknowledgment beneath Canadian regulations; however, the SEC commonly alone permits issuers to address mineralization that does not aggregate “reserves” by SEC standards as in abode burden and brand after advertence to assemblage measures.

Table 1: Island Gold – Ahead Unreleased Select Blended Intervals from Apparent Assay Conduct

Composite intervals greater than 3 g/t Au abounding average, capping values:

Western and Capital Extension areas @ 225 g/t Au; Eastern Extension breadth @ 160 g/t Au.

Results not included in the year end 2019 Mineral Resource adding

Table 2: Island Gold – Ahead Unreleased Select Blended Intervals from Underground Assay Conduct

Composite intervals greater than 3 g/t Au abounding average, capping values:

Western and Capital Extension areas @ 225 g/t Au; Eastern Extension breadth @ 160 g/t Au.

Note: Unknown breadth corresponds to gold intercepts alfresco accepted ore zones and for which chain is not yet accustomed and accordingly accurate amplitude has not been calculated.

Table 3: Apparent assay assignment holes; azimuth, dip, accomplished length, and collar area at apparent (UTM NAD83).

Note: UTM abundance apparent acclivity 382 m

Table 4: Underground assay assignment holes; azimuth, dip, accomplished length, and collar area at apparent (UTM NAD83).

Note: UTM abundance apparent acclivity 382 m

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