Slide 1: Mulatos Site Tour January 21, 2014
Mulatos Site Tour January 21, 2014 Manley Guarducci, VP & Chief Operating Officer Andrew Cormier, VP, Development & Construction Brian Peer, Country Manager Mexico
Slide 2: Cautionary Notes
Cautionary Notes Cautionary Notes No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Certain statements in this presentation are “forward-looking statements”, including within the meaning of the United States Securitie
Slide 3: Mulatos Mine – Key Facts
Mulatos Mine – Key Facts • Located in Sonora State, Mexico • Acquired for $10 million in 2003 • Initial capex of ~$75 million • First production in 2005 • Produced millionth oz and billionth dollar of revenue in 2012 • Replaced reserves for 5 consecutive years • Generated ~$300 million in FCF to dat
Slide 4: Mulatos District Alteration Map
Mulatos District Mulatos Alteration Map 4
Slide 5: Mulatos Mine and satellite deposits map
Cerro Pelon Mulatos Mine East Estrella Estrella PdA El Salto/ PdA Mina Vieja Extension Escondida Gap El Victor April 2013 LEGEND San Carlos Mineralized trends +1 opt intercepts 5
Slide 6: Mulatos – 2013 Operating Results
Mulatos – 2013 Operating Results Operating Data 2013A 2013E Guidance Production oz Au 190,000 180,000 ‐ 200,000 Cash Operating Costs1 US$/oz ‐ $415‐435 Total Cash Costs1 US$/oz ~$500 $500‐520 All‐in Sustaining Costs1 US$/oz ‐ $785‐825 Combined Gold Recovery % 73% 75% Combined Throughput tpd 17,900 1
Slide 7: Mulatos – 2014 Production & Operating Guidance
Mulatos – 2014 Production & Operating Guidance Operating Data 2013A 2013E Guidance 2014E Guidance Production oz Au 190,000 180,000 ‐ 200,000 150,000 ‐ 170,000 Cash Operating Costs1 US$/oz ‐ $415‐435 $630‐670 Total Cash Costs1 US$/oz ~$500 $500‐520 $700‐740 All‐in Sustaining Costs1 US$/oz ‐ $785‐825
Slide 8: Mulatos – 2014 Operating & Development Budget
Mulatos – 2014 Operating & Development Budget Mulatos 2014 Budget (millions) San Carlos open pit and underground development $18.3 Escondida Deep underground development $3.1 Underground definition drilling $4.8 Other development $4.1 Total Development $30.3 Component changes $3.8 Leach pad expansio
Slide 9: Mulatos – 2012 Proven & Probable Reserves
Mulatos – 2012 Proven & Probable Reserves Proven & Probable Reserves Tonnes Grade Contained Ounces 1 as at December 31, 2012 (000) (g/t Au) (000 Au) Mulatos Mine (inc. Escondida HGZ) 59,683 0.90 1,728,059 UG Reserve (Escondida Deep & San Carlos UG) 1,169 5.04 189,663 Existing stockpiles 3,721 1.90 2
Slide 10: Mulatos – Production Profile
Mulatos – Production Profile 10
Slide 11: Mulatos – Transition to Contract Mining
Mulatos – Transition to Contract Mining • Negotiated competitive unit rates to owner mining • Tax savings associated with Mexican tax reform • Will reduce tax payable under 7.5% EBITDA Special Mining Tax • Contract mining shifts ~$40‐50/oz of sustaining capex into operating costs • Expect seamless t
Slide 12: Mulatos - Crushing Circuit Improvements
Mulatos ‐ Crushing Circuit Improvements • Record throughput of 17,900 tpd in 2013, up from 16,000 tpd in 2012 • Driven by crushing circuit improvements 12
Slide 13: Mulatos – Heap Leach Drives Bulk of Production
Mulatos – Heap Leach Drives Bulk of Production 13
Slide 14: Mulatos – High-Grade Gravity Mill
Mulatos – High‐Grade Gravity Mill • Mill feed: > 3 years @ 700‐1,000 tpd • < 1 Qtr Escondida HGZ • Escondida Deep mineral reserves 45,000 tonnes @ 8.08 g/t Au (11,700 oz)1 • San Carlos UG mineral reserves 1,124,000 tonnes @ 4.92 g/t Au (177,900 oz)1 • 2014 guidance • Ramp up to average 700 tpd • Ave
Slide 15: Escondida Deep
Escondida Deep • Escondida Deep ore body will be accessed by approximately 500 meters of ramp in the NE wall of the Escondida Open Pit • The orebody as modeled consists generally of a 30 meter by 40 meter by 20 meter tall zone which plunges down to the east with a few smaller down faulted zones loca
Slide 16: Escondida Deep
wy ALAMOS GOLD INC. TSX:AGI | NYSE:AGI Escondida Deep
Slide 17: Escondida Deep
~ Escondida Deep ALAMOS GOLD INC. TSX:AGI | NYSE:AGI
Slide 18: Minas de Oro Nacional underground mine plan
Minas de Oro Nacional, S.A de C.V. - A Wholly owned subsidiary of Alamos Gold Inc. PLAN MINADG SUBTERRANEA ENE PLAN DE MINA SUBT| ENERO SE TIENE PROYECTADO EN ESCONDIDA CON DOS ‘0 2014 RRANEA PARA 014 60 MTS DE AVANCE FRENTES DE 80 MTS EN XRO-01 Y 80 MTS EM RAMPA 1147-162 PARA UN TOTAL DE 160.0 MTS
Slide 19: San Carlos Underground
San Carlos Underground • The San Carlos ore body will be accessed by a 300 meter access tunnel with 550 meters of ramp developed above and below this access • Another access will be developed from underground into the east wall of the open pit to provide flow through ventilation and a second escape
Slide 20: San Carlos UG mine plan
Minas de Oro Nacional, S.A de C.V. ‐ A Wholly owned subsidiary of Alamos Gold Inc. SAN CARLOS UG OPCION 6 HANNES D:\Planeacion\SUBTERRANEA\Opciones Subterranea Esc-Deep San Carlos UG
Slide 21: Mulatos – Looking Ahead
Mulatos – Looking Ahead • Cerro Pelon & La Yaqui – higher grade, low cost production growth • Production additive – independent crushing circuit & heap leach pads • Higher grade @ ~1.6 g/t vs Mulatos reserve grade of 0.9 g/t • Low capital and operating costs – will bring down global cost profile • L
Slide 22: Mulatos – Looking ahead
Mulatos – Looking ahead • Potential mill expansion • Ramping up underground throughput rates at San Carlos • Additional exploration success • Further high grade exploration success with access to additional high grade targets that could not be fully drill defined from surface 1 Please refer to Cauti
Slide 23: Sustainability
Sustainability • Recently completed first Annual Sustainability Report pursuant to GRI framework • Our Objectives • As we pursue further growth, we will continue to measure our success as an organization by our performance in achievement of our sustainability objectives: • protecting the health and
Slide 24: Thank You!
mw ALAMOS GOLD INC. TSX:AGI | NYSE:AGI Thank You!
Slide 25: Site Tour January 22, 2014
Esperanza Site Tour January 22, 2014 Manley Guarducci, VP & Chief Operating Officer Andrew Cormier, VP, Development & Construction Brian Peer, Country Manager Mexico
Slide 26: Esperanza Gold Project – Key Facts
Esperanza Gold Project – Key Facts • Located in Morelos State, Mexico • Own 100% interest • Acquired for net cash of $45m + 7.2m warrants • Excellent infrastructure; low technical risk • Low capital intensity and operating costs • Average annual production potential > 100,000 oz • All‐in sustaining
Slide 27: Acquisition – Disciplined Growth with Upside
Esperanza Acquisition – Disciplined Growth with Upside • Relatively small transaction with significant production growth • Potential to grow production in Mexico by 50%, or nearly 30% on a consolidated basis • Substantial resource addition with further exploration potential • Adds M&I resources of 1
Slide 28: Regional Geology
Esperanza Regional Geology 28
Slide 29: Drilling in 1998 by Teck
Esperanza Drilling in 1998 by Teck • 4 Diamond Drill Core • Total Drilled ≈ 822 m 29
Slide 30: Drilling in 2005-2012
Esperanza Drilling in 2005‐2012 • 148 Diamond Drill Core • 239 RC Holes • Total Drilled ≈ 68,196 m • 26,601 m Core • 41,595 m RC 30
Slide 31: Stratigraphy and Host Rocks
Esperanza Stratigraphy and Host Rocks Ag Min 0 500 m 31
Slide 32: Gold Grade Domains
Esperanza Gold Grade Domains 32
Slide 33: 2011 PEA
Esperanza 2011 PEA PEA Highlights: September 20111 Base Case Two‐stage crushing Average Annual Gold Production (000 oz) 103 Cash Operating Costs (net of by‐products) (US$/oz) $499 Initial Capex (US$ mm) $114 Sustaining Capex (US$ mm) $7 Gold Recoveries % 75 Silver Recoveries % 25 Life of Mine Strip
Slide 34: Esperanza – Resource Growth Since 2011 PEA
Esperanza – Resource Growth Since 2011 PEA September 2012 Tonnes Grade Contained Ounces Resource Statement1 (000) (g/t Au) (g/t Ag) (000 Au) (000 Ag) Measured & Indicated 50,336 0.91 9.9 1,474 16,015 Inferred 7,970 0.66 10.9 169 2,793 % Increase in M&I Resource from +46% +10% +466% +61% +729% 2010 M
Slide 35: Esperanza – 2011 PEA Capex Breakdown
Esperanza – 2011 PEA Capex Breakdown PEA Preproduction Capital (US$m)1 Two‐stage crushing Run‐of‐mine Mine Development (pre‐strip) $10.5 $10.5 Mine equipment/Infrastructure $52.0 $52.0 Plant/Infrastructure $32.1 $18.1 Leach pad $17.4 $17.4 Owner costs $1.6 $1.6 Total Preproduction Capital $113.6 $99
Slide 36: Project Sensitivity
Esperanza Project Sensitivity • Project sensitivity to higher metal prices (based on 2011 PEA) 1 Please refer to Cautionary Notes on non‐GAAP Measures and Additional GAAP Measures. 2 Please see Esperanza Technical Report on the Cerro Jumil Project, 2012 Mineral Resource Estimate. 36
Slide 37: Site Overview
Esperanza Site Overview ALAMOS GOLD INC. TSX:AGI | NYSE:AGI Leach Pad Flelds * Cerro Jumil Power Lines
Slide 38: Esperanza Site Land Use
2 0 0 0 2 0 0 3 8 8 3 0 0 2 0 0 Esperanza Site Land Use 0 0 2 0 0 2 8 8 2 0 0 2 0 0 0 0 • Open Pits 2 0 0 1 8 8 1 0 0 2 0 0 • Waste Dumps 0 0 0 0 8 0 2 2 0 8 0 0 0 0 • Heap Leach Pads 0 0 0 9 7 2 0 7 9 0 0 2 0 0 • Process Plant 0 0 0 2 0 8 7 7 8 0 0 2 0 0 • Solution Ponds 0 0 2 0 0 7 7 7 7 0 0 2 • I
Slide 39: 2013 EIA/MIA Rejection
Esperanza 2013 EIA/MIA Rejection • Deficiencies with previous filing • Water source was not clearly defined • Used old data • Contemplated surface water which is not allowed • Did not do some key engineering such as • Geotechnical • Slope stability • Hydrogeology • Not sufficient base line studies s
Slide 40: EIA/MIA Resubmission
Esperanza EIA/MIA Resubmission Our plan over next 18 months to address these issues • Use our Experience & Knowledge to address the EIA/MIA deficiencies • Leverage our Environmental expertise from Mulatos • We have engaged experienced consultants: • Baseline Studies: • Rock Mechanics: CMA Consulto
Slide 41: Permitting
Esperanza Permitting • Meeting with SEMARNAT • SEMARNAT confirmed deficiencies in the previous EIA filing and reinforced that if a proper EIA is submitted they would have no problems approving it • Meeting with Governor’s Office • Have engaged in positive dialogue with Governor’s office • We believe
Slide 42: Community Support
Esperanza Community Support “We want work, we have families, let the mine open, Yes to the Mine.” 42
Slide 43: Thank You!
mw ALAMOS GOLD INC. TSX:AGI | NYSE:AGI Thank You!
Slide 44: 2012 Mulatos Proven and Probable Reserves
2012 Mulatos Proven and Probable Reserves (1) 1,2,3,4,5,6,8 Proven and Probable Reserves as at December 31, 2012 2 2 2 Proven Probable Proven + Probable Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Reserve Area (000s) (g/t Au) Ounces (000s) (g/t Au) Ounces (000s) (g/t Au) Oun
Slide 45: 2012 Global Measured and Indicated Mineral Resources
2012 Global Measured and Indicated Mineral Resources 1,2,3,4,5,6,8,9 Global Measured & Indicated Mineral Resources as at December 31, 2012 Cut‐off Tonnes Grade Grade Contained Contained (g/t Au) (000s) (g/t Au) (g/t Ag) Ounces Au Ounces Ag Mexico Mulatos 0.5 78,235 0.99 2,481,018 San Carlos UG 2.5 4
Slide 46: 2012 Global Inferred Mineral Resources
2012 Global Inferred Mineral Resources 1,3,4,5,6,7,8,9,10 Global Inferred Mineral Resources as at December 31, 2012 Cut‐off Tonnes Grade Grade Contained Contained (g/t Au) (000s) (g/t Au) (g/t Ag) Ounces Au Ounces Ag Mexico Mulatos 0.5 15,991 0.90 461,257 San Carlos UG 2.5 14 6.07 2,730 El Realito 0
Slide 47: Scott K. Parsons, CFA
Scott K. Parsons, CFA Director, Investor Relations 416.368.9932 x 439 sparsons@alamosgold.com