Alamos Gold Announces the Sale of Quartz Mountain Gold Project for Total Consideration of up to $21 million and 9.9% Equity in Q-Gold Resources

About this update from Alamos Gold Inc.

[{"type":"text","content":"Alamos Gold Announces the Sale of Quartz Mountain Gold Project for Total Consideration of up to $21 million and 9.9% Equity in Q-Gold Resources\n\n\n\n All amounts are in United States dollars, unless otherwise stated.\n \n\n TORONTO, April 03, 2025 (GLOBE NEWSWIRE) --\n \n Alamos Gold Inc.\n \n (\n \n TSX:AGI; NYSE:AGI\n \n ) (“Alamos” or the “Company”) announced today that it has entered into a binding agreement to sell its non-core Quartz Mountain Gold Project (“Quartz Mountain”) located in Lake County, Oregon to Q-Gold Resources Ltd. (TSXV:QGR) (“Q-Gold”) for total consideration of up to $21 million and a 9.9% equity interest in Q-Gold (the “Transaction”). The Transaction is comprised of the following:\n \n\n\n\n i.\n \n\n $2.85 million in cash and 9.9% of common share equity in Q-Gold upon closing of the Transaction\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n ii.\n \n\n $8.15 million of Guaranteed Payments in cash or common shares, at Alamos’ election, as follows:\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n ○\n \n\n $3.15 million payable one year after the closing of the Transaction\n \n\n\n\n\n\n\n\n ○\n \n\n $2.5 million payable two years after the closing of the Transaction\n \n\n\n\n\n\n\n\n ○\n \n\n $2.5 million payable three years after the closing of the Transaction\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n iii.\n \n\n $10 million of Milestone Payments in cash or common shares, at Alamos’ election, as follows:\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n ○\n \n\n $5 million payable upon the earlier of (i) completion of a Feasibility Study, or (ii) announcing a construction decision on Quartz Mountain\n \n\n\n\n\n\n\n\n ○\n \n\n $5 million payable upon receiving the key permits required for the construction and operation of Quartz Mountain\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n “The sale of Quartz Mountain is consistent with our strategy of monetizing non-core assets as we develop our portfolio of high-return growth projects including the Phase 3+ Expansion at Island Gold, Lynn Lake, and PDA,” said John A. McCluskey, President and Chief Executive Officer.\n \n\n “As a Forbes & Manhattan backed company, Q-Gold is well positioned to advance Quartz Mountain and we look forward to participating in the future success of the...

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