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

TORONTO, May 14, 2024 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today reported new results from its underground exploration program at the Young-Davidson mine. Underground exploration drilling from the mid-mine intersected a new style of higher-grade gold mineralization in zones within the hanging wall of the Young-Davidson deposit.

These zones are located between 10 and up to 200 metres (“m”) south of existing infrastructure and Mineral Reserves and Resources, highlighting the upside potential with grades intersected well above the current Mineral Reserve grade of 2.31 grams per tonne of gold (“g/t Au”).

Young-Davidson Hanging Wall Zones: high grade gold mineralization intersected within the hanging wall, in proximity to existing infrastructure and south of existing Mineral Reserves and Resources. This represents a new style of mineralization at Young-Davidson, hosted in hanging wall stratigraphy including a folded sequence of Timiskaming assemblage conglomerates and sediments. Gold mineralization is associated with 3-20% pyrite and occurs both as wide, low- to moderate-grade mineralization, and also within narrower, high-grade structures (Figures 1 and 2). New highlights include1:

9620-Level Drilling1
7.41 g/t Au over 22.00 m, including 15.84 g/t Au over 6.00 m (YMEX24-9620-143);
19.94 g/t Au over 4.55 m (YMEX24-9620-147);
21.86 g/t Au over 4.00 m (YMEX24-9620-147);
5.24 g/t Au over 9.00 m (YMEX24-9620-147);
9.07 g/t Au over 5.00 m (YMEX24-9620-137);
4.70 g/t Au over 10.00 m (YMEX24-9620-143);
17.55 g/t Au over 2.00 m (YMEX24-9620-142); and
4.13 g/t Au over 8.31 m (YMEX24-9620-141).
9500-Level Drilling1,2
10.73 g/t Au over 15.55 m (YM23-9500-107A).
1 All reported composite intervals are core length and gold grades are reported as uncut. Based on initial review of core angles, true width is interpreted to be less than 50% of core length for some composites. Additional drilling and interpretation is ongoing to further define the geometry and extent of the mineralized zones.

2 YM23-9500-107A was drilled as a BQ-diameter definition drillhole, which was extended into the hanging wall. This hole was assayed using whole core at the Young Davidson on-site assay lab (see QA/QC section of Press Release).

“Young-Davidson is a consistent, long-life operation with a long-track record of Mineral Reserve replacement having maintained at least a 13-year Mineral Reserve life since 2011. With the deposit open at depth and to the west, we expect this track record to continue well into the future as we extend gold mineralization within the Young-Davidson syenite. The new zones being discovered in the hanging wall highlight the significant exploration potential outside of the syenite. This is a new style of higher-grade mineralization, near our existing underground infrastructure, which has the potential to provide meaningful production upside,” said John A. McCluskey, President and Chief Executive Officer.

New highlight intercepts can be found in Tables 1 and 2, and in Figures 1 and 2 at the end of this news release.

2024 Exploration Drilling Program – Young Davidson

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