Alamos Gold Inc. · TSX:AGI
Alamos Gold — Investor Day (January 2019)
172 slides from Alamos Gold's investor day presentation, Jan 15, 2019
Slide 1: Alamos Gold Investor Day
Alamos Gold Investor Day January 15, 2019
Slide 2: Cautionary Notes
Cautionary Notes This presentation, the information contained herein, any other materials provided in connection with this presentation and any oral remarks accompanying this presentation (collectively, the “Presentation”), has been prepared by Alamos Gold Inc. (“Alamos” or the “Company”) solely for
Slide 3: Investor Day Schedule
Investor Day Schedule Introduction 8:30 AM • 2018 year in review • 2019 outlook Operational overview 9:00 AM • Young-Davidson • Island Gold 10:25 AM Break Operational overview – continued 10:40 AM • Mulatos • El Chanate • Sustainability 11:05 AM • Development projects 11:45 AM Concluding remarks and
Slide 4: Introduction: our team
Introduction: our team Toronto John A. McCluskey - President & CEO Jamie Porter - CFO Peter MacPhail - COO Chris Bostwick - VP, Technical Services Andrew Cormier - VP, Development & Construction Colin Webster - VP, Sustainability & External Affairs Greg Fisher - VP, Finance Scott K. Parsons - VP, In
Slide 5: Introduction
Introduction John A. McCluskey President & Chief Executive Officer5
Slide 6: 2018 year in review
2018 year in review Achievements Operations • Met 2018 production guidance – fourth consecutive year • Island Gold & Mulatos both achieved raised production guidance Development • Completed Phase I expansion at Island Gold • Received Schedule 2 Amendment for new life of mine tailings facility at You
Slide 7: Strong platform for delivering long-term value
Strong platform for delivering long-term value Growing, diversified, long-life gold production • 480-520k oz from four North American mines Expanding margins • $920-$960/oz AISC1 in 2019, declining through 2021 Peer leading growth • Portfolio of six low-cost development projects Strong, debt free ba
Slide 8: Diversified asset base; low political risk profile
Diversified asset base; low political risk profile North American focused production Mexico 35% ~500k oz Lynn Lake, Canada Canada Island Gold, Canada 65% Young-Davidson, Canada Diversified asset base Kirazlı, Turkey Quartz Mountain, USA Asset NPV by Country1 Mexico Ağı Dağı, Turkey 17% Canada 63% Mu
Slide 9: Long-life production base; peer leading growth
Long-life production base; peer leading growth Quartz Mountain Esperanza Longer term value creation Mulatos District Exploration opportunities Island Gold Exploration Lynn Lake 13% After-tax IRR1 Çamyurt 253% Peer leading, After-tax IRR1 high return Ağı Dağı 39% After-tax IRR1 growth 44% Kirazlı Aft
Slide 10: Core competencies
Core competencies Financial conservatism • Minimal to no debt • Cyclical business – positioned to outperform at any gold price • Utilize balance sheet strength in down markets Disciplined approach to M&A • Transact in down markets • Focus on returns – acquire high quality assets at reasonable price
Slide 11: Strong balance sheet – debt-free
Strong balance sheet – debt-free Cash & Total Liquidity Balance Sheet Cash & Cash Eq.1,2 US$206 million $206m Total Liquidity3 US$606 million Total Debt US$0 $606m 1,3 Capital Structure Shares Outstanding (Basic) 391.2 million $400m Shares Outstanding (Fully Diluted) 402.2 million Recent Share Price
Slide 12: Track record of adding value through M&A & Exploration
Track record of adding value through M&A & Exploration Mulatos (US$m) Young-Davidson (US$m) Island Gold (US$m) Turkey (US$m) $34 M&A $430 $17 $950 $1,023 $627 $581 $557 $401 $10 $91 $91 Acquisition Cost Consensus NAV & Acquisition Cost Consensus NAV & Acquisition Cost Consensus NAV & Acquisition Cos
Slide 13: Track record of adding value on aggregate & per share basis
Track record of adding value on aggregate & per share basis Mineral Reserves (M oz Au) Cash provided by operations Gold Production (000 oz Au) before changes in WC (US$M) +261% 505 +472% +305% $206 9.9 140 $51 1.7 1 2,3 2014A 2018 2014A Jun-18 2014A 2018E Cash Flow Per Share Gold Production Per Shar
Slide 14: Long-term track record of delivering shareholder value
Long-term track record of delivering shareholder value Long-term track record of outperformance 2 1 Consensus P/NAV Average Annualized Return since 2003 1.69 11% 9% 1.06 0.54 -1% Highest Peer Intermediate Peer AGI AGI (TSX) S&P Global Gold Index Gold (US$/oz) Average Short-term underperformance; com
Slide 15: Value creation opportunities
Value creation opportunities Young-Davidson – stronger operational performance Island Gold – Phase II expansion & ongoing Young-Davidson – completion of lower mine exploration expansion Island Gold – Phase III expansion study & ongoing Cerro Pelon – permitted & under construction exploration La Yaqu
Slide 16: 2018 year in review
2018 year in review Jamie Porter Peter MacPhail Chief Financial Officer Chief Operating Officer16
Slide 17: 2018 operational performance
2018 operational performance Q3 YTD 2018 Q4/18A 2018A 2018E Revised Guidance 2018E Original Guidance Gold Production (oz) Young-Davidson 129,100 50,900 180,000 180,000 – 190,000 200,000 – 210,000 Island Gold 76,800 29,000 105,800 100,000 – 110,000 90,000 – 100,000 Mulatos 139,900 35,600 175,500 170,
Slide 18: Track record of meeting guidance
Track record of meeting guidance Initial Guidance 2015 2016 2017 2018 Production Total Cash Costs All-in Sustaining Costs • Established track record of meeting production and cost guidance until 2018 • Underperformance at Young-Davidson impacted 2018 costs 18
Slide 19: 2019 outlook
< 2019 outlook Atamos GoLp INc. 4 . pA ~\ if Cat; f il = / — ———— eh , =, > -. — = > -
Slide 20: 2019 guidance
2019 guidance 2018A 2019E Guidance (Revised guidance where indicated by Italics) Gold Production (k oz) 505 480-520 Cost of Sales1 (US$/oz) $1,145 $1,080 Total Cash Costs2 (US$/oz) $810 $710-$750 AISC2,3 (US$/oz) $990 $920-$960 Capital Expenditures (US$m) Sustaining Capital (US$m) $68 – $77 $75 – $8
Slide 21: 2019 guidance – operations
2019 guidance – operations 2018A 2019 Guidance (Q3 2018 YTD where indicated by italics) Gold Production (oz) Young-Davidson 180,000 180,000 – 190,000 Island Gold 105,800 135,000 – 145,000 Mulatos 175,500 150,000 – 160,000 El Chanate 43,700 15,000 – 25,000 Total Gold Production 505,000 480,000 – 520,
Slide 22: 2019 guidance – capital budget
2019 guidance – capital budget 2019 Guidance 2018 Guidance Sustaining Capital Growth Capital Total Total Operating Mines (US$M) Young-Davidson $35 - $40 $45 - $50 $80 - $90 $70 - $80 Island Gold $35 - $40 $15 - $20 $50 - $60 $50 - $55 Mulatos(1) $5 $45 - $501 $50 - $55 $39 - $43 Total – Operating Mi
Slide 23: 2019 guidance – exploration budget
2019 guidance – exploration budget Exploration Budget (US$M) 2019 Guidance 2018 Guidance Island Gold $19 $18 Mulatos $6 $13 Lynn Lake $6 $4 Other $2 $4 Total Exploration $33 $39 • Island Gold budget: $19m (78,000 metres) • Continue to expand mineralization laterally and down-plunge from Mineral Rese
Slide 24: 2019 guidance – gold price & FX sensitivities
2019 guidance – gold price & FX sensitivities Sensitivities 2019 Price Change FCF Impact (US$m)1 Gold ($/oz) $1,250 +$50 +$25 USD:CAD $0.75 -$0.05 +$27 MXN:USD 20.00 +1.00 +$4 Diesel ($/litre) $0.75-0.85 -$0.05 +$2 Hedges % of Exposure Hedged Collar range Gold ($/oz) 6% $1,250 - $1,375 USD:CAD 70% $
Slide 25: 2019 guidance – free cash flow outlook
2019 guidance – free cash flow outlook Island Young-Davidson Mulatos El Chanate Total Gold price US$/oz $1,250 $1,250 $1,250 $1,250 $1,250 Total cash costs1 (midpoint of guidance) US$/oz $480 $770 $840 $9002 $730 Margin per ounce US$/oz $770 $480 $410 $350 $520 Production (midpoint of guidance) oz A
Slide 26: Expanding margins at operating mines; low-cost growth
Expanding margins at operating mines; low-cost growth Kirazlı – initial production H2 2020 Young-Davidson – completion of lower mine infrastructure H1 2020 Island Gold – Phase II expansion Mulatos – end of 5% NSR royalty; grid power; initial production from Cerro Pelon Island Gold – Phase I expansio
Slide 27: Capital allocation outlook
Capital allocation outlook Return more value to shareholders • Sustainable dividend growth • Share buy back Strong free cash Strengthen balance sheet flow growth • Build cash balance H2 2020+ • Maintain minimal to no debt Advance development pipeline • Build at sustainable rate 27
Slide 28: Focus on returning capital to shareholders
Focus on returning capital to shareholders Semi-Annual Dividend Level and Yield 18 Consecutive semi-annual $0.12 2.50% dividends paid $0.10 $0.10 $0.10 $0.10 $0.10 $0.10 $0.10 2.00% $120m $0.08 $0.07 1.50% cumulative dividends $0.06 $0.05 1.00% $0.04 $0.03 $0.04 $0.03 Higher dividend $0.02 0.50% to
Slide 29: Questions
Questions 29
Slide 30: Young-Davidson – overview
Young-Davidson – overview Luc Guimond Leon Leblanc General Manager, Young-Davidson Underground Mine Superintendent30
Slide 31: Young-Davidson – overview
Young-Davidson – overview Location: Ontario, Canada Stage: Producing Ownership: 100% interest Operation: Underground • One of Canada’s largest underground gold mines • Stable jurisdiction, close to major centres • 14 year mine life based on YE 2017 reserves • Large resource base and exploration pote
Slide 32: Regional map
Regional map Kidd Creek Mine Clavos Mine Black Fox Holloway Bell Creek Mine Taylor Mine Mine Hoyle Pond Holt Mine Timmins Dome Mine West Hollinger Mine Mine Mine Macassa Mine Young-Davidson Mine Cote Project Operating mines/projects City 32
Slide 33: Young-Davidson – 2018 review
Young-Davidson – 2018 review 2018A 2018E Revised 2018E Original Q1 2018 Q2 2018 Q3 2018 Q4 2018 (Q3 YTD 2018A where indicated by Italics) Guidance Guidance Gold Production (k oz) 41.0 39.1 49.0 50.9 180.0 180-190 200-210 Cost of Sales1 (US$/oz) $1,273 $1,350 $1,276 - $1,298 $1,125 $1,075 Total Cash
Slide 34: Young-Davidson – 2018 review
Young-Davidson – 2018 review 2018 Challenges 2018 Improvements • Added another ore pass • Added trucking capacity Ore pass infrastructure deterioration • Lower mine passes engineered with no bends/wear points, more ground support Paste fill system blockage & delayed paste fill placement • New paste
Slide 35: Young-Davidson – continuous improvement
Young-Davidson – continuous improvement Continuous improvement initiatives Management Changes • New Underground Superintendent transitioned over from Island Gold Optimized Pay-for-Performance Initiatives • Re-aligned bonus payout structure for underground miners • Commissioned Jamieson Group to cond
Slide 36: 2019 guidance – Young-Davidson
2019 guidance – Young-Davidson 2018A % Change 2019E Guidance (Q3 YTD 2018A where indicated by Italics) (Based on midpoint) Gold Production (k oz) 180 180-190 3% Cost of Sales1 (US$/oz) $1,298 $1,220 -6% Total Cash Costs2 (US$/oz) $845 $750-$790 -9% Mine-site AISC2,3 (US$/oz) $1,034 $940-$980 -7% Und
Slide 37: Young-Davidson – guidance consistent with 2-year average
Young-Davidson – guidance consistent with 2-year average Production (oz Au) UG Throughput (TPD) 2-year quarterly avg.: 47,500 2-year quarterly avg.: 6,443 60,000 8,000 7,000 50,000 6,000 40,000 5,000 30,000 4,000 3,000 20,000 2,000 10,000 1,000 0 0 2 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 2
Slide 38: Young-Davidson – capital
Young-Davidson – capital 2018E Guidance 2019E Guidance 2020E Guidance Sustaining Capital (US$m) $35 - $40 $35 - $40 $35 - $40 Growth Capital (US$m) $35 - $40 $45 - $50 $25 - $30 Total Capital (US$m) $70 - $80 $80 - $90 $60 - $70 Drivers of higher capital in 2019 & 2020 • TIA1 – new LOM tailings faci
Slide 39: Young-Davidson TIA 1 – new life of mine tailings facility
Young-Davidson TIA 1 – new life of mine tailings facility • Fully permitted – Schedule 2 Amendment received December 2018 • Footprint sufficient for remaining reserves and resources • Phase I construction to be completed 2020 • Total construction capital for TIA 1 (2019-2021): $23m; including $6m in
Slide 40: Young-Davidson – lower mine expansion
Young-Davidson – lower mine expansion 40
Slide 41: Young-Davidson – lower mine expansion tie-in
Young-Davidson – lower mine expansion tie-in Mid Shaft Loading Pocket (9500 L) • Remove skips • Remove head, tail and guide ropes Total duration: ~ 3 months • Install winches and work platform Mid Shaft Ore Handling Removal • Remove shaft bottom steel Upper Northgate Pentice Excavation & Ground Supp
Slide 42: Young-Davidson – increased automation in lower mine
Young-Davidson – increased automation in lower mine Multiple draw points from multiple ore chutes Upper mine Ore trucked 600m to coarse ore bin infrastructure Coarse ore bin Skipped to surface Crusher Multiple ore chutes feed directly to coarse ore bin minimal re-handling Increased automation; Lower
Slide 43: Young-Davidson – more skipping inventory capacity
Young-Davidson – more skipping inventory capacity Upper mine • 500t fine ore bin capacity; • 1hr skipping inventory 500T FINE ORE BIN Lower mine • 6,000 t fine ore bin capacity • 12 hr skipping inventory +5,500 t Increase in bin capacity - Northgate shaft - 9025 Level rock breaker 1,000T ORE/WASTE B
Slide 44: Young-Davidson – less development
Young-Davidson – less development • 30 m sub level spacings Upper mine Above 9410 - 16 levels 450m vertical distance - 9410 level • 35m sub level spacings Lower mine • 6km LOM reduction in lateral development Less development - 9410 level per vertical metre Below 9410 - 16 levels 530m vertical dista
Slide 45: Young-Davidson – larger stopes
Young-Davidson – larger stopes Upper mine Standard drill pattern at stope centre in upper mine • Average stope ~24,000 tonnes • 30m High x 20m Wide x 15m Thick • ~ 100 stopes/year required for 6,500 tpd 30.0m Lower mine Standard drill pattern at • Average stope ~37,000 tonnes stope centre in lower m
Slide 46: Young-Davidson – increased skipping capacity
Young-Davidson – increased skipping capacity Upper mine • 17.5t skip capacity • 151.6 second cycle time • 7,652 tpd capacity Lower mine +40% More ore per skip; more • 24.5t skip capacity – 40% increase than offsetting longer • increased volume – longer skips cycle time • Increased weight – longer ro
Slide 47: Young-Davidson – increased skipping rates
Young-Davidson – increased skipping rates Northgate Shaft Instantaneous Skipping Rates Upper mine Lower mine Depth Time Depth Time 10,400m 18m 33.6s 18m 15.2s 190m 20.8s 10,200m 190m 23.3s 3600/151.6s = 23.75 skips/hr 3600/165.6s = 21.74 skips/hr 10,000m 23.75 skips/hr x 17.5 t/skip less 21.74 skips
Slide 48: Young-Davidson – increased skipping capacity
Young-Davidson – increased skipping capacity Northgate Upper Mine Average TPD 14,000 Tonnes per Day Hoisted 12,000 10,000 823 196 230 8,000 891 9,792 6,000 7,652 4,000 Max Rate 8.4% Planned 2.0% Unplanned 2.4% Operating Delays 9.1% Bins Empty Actual Rate Mantenance Maintenance Northgate Lower Mine A
Slide 49: Young-Davidson – animation of lower mine expansion
Young-Davidson – animation of lower mine expansion 49
Slide 50: Northgate & MCM shafts – dual shaft system
Northgate & MCM shafts – dual shaft system Combined Northgate Shaft MCM Shaft Required Ore + Waste Movement Skipping Capacity Ore + waste Waste co-disposed Total ore + skipped required waste Shaft system Friction hoist Dual drum hoist Material Waste + men & Ore + waste movement materials 2019 budget
Slide 51: Young-Davidson – lower mine expansion to drive costs lower
Young-Davidson – lower mine expansion to drive costs lower 2019E mining cost per tonne C$50/t Upper mine Lower mine Incremental improvement C$2.00/tonne; excluding productivity Material handling trucking conveying improvements C$10/t decrease LOM Mid shaft ore trucking below 9590 L trucking scoop C$
Slide 52: Young-Davidson – unit costs & currency sensitivities
Young-Davidson – unit costs & currency sensitivities Unit Costs 2019 Estimate Life of Mine per tonne Underground C$50 C$40 2019 Cost Structure Mill Processing1 C$18 C$16 Other 13% Administration1 C$5 C$5 Footnotes: Contractors Labour 1. Per tonne processed 6% 35% Hydro Significant Leverage to C$/US$
Slide 53: Young-Davidson capital outlook – declining intensity
Young-Davidson capital outlook – declining intensity Capital Estimates (US$m)1 2019E 2020E 2021 – 2026E Average >2026E Sustaining $35-40 $35-40 $35-40 $30-40 Expansion $45-50 $25-30 $5-10 $0 Total $80-90 $60-70 $40-50 $30-40 • TIA 1 construction • TIA 1 construction Major capital projects • Lower mi
Slide 54: Young-Davidson – free cash flow summary
Young-Davidson – free cash flow summary $114 $99 $84 $63 $34 $4 -$24 -$74 -$80 -$95 -$108 -$137 2014A 2015A 2016A 2017A 1 1 Total capital (US$m) Operating cash flow (US$m) Mine-site free cash flow (US$m) 1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures. 54
Slide 55: Young-Davidson – exploration
Young-Davidson – exploration Chris Rockingham VP, Exploration55
Slide 56: Young-Davidson – significant exploration potential
Young-Davidson – significant exploration potential Northgate YDM PIT Shaft MCM Historic MCM Historic YD Shaft Mine Mine No exploration drilling since 6L 10100L 2012 10000mL 10000mL 9920L 11L Resources 257A 9800L converting to 257A 9710L reserves with 262 YDFS-9C stope definition 265 262 9590L YM13-4
Slide 57: Questions
m Questions Atamos GOLD INc.
Slide 58: Island Gold – overview
Island Gold – overview Peter MacPhail Austin Hemphill Chief Operating Officer General Manager, Island Gold58
Slide 59: Island Gold – overview
Island Gold – overview Location: Ontario, Canada Stage: Producing Ownership: 100% interest Operation: Underground • One of Canada’s highest grade & lowest cost gold mines • Located 83km northeast of Wawa, just east of the town of Dubreuilville, Ontario • Commercial production declared October 2007 •
Slide 60: Island Gold – location
Island Gold – location Highly Productive Gold Mining >25 Moz gold produced since 1985 District >35 Moz in defined mineral reserves Hoyle Pond, Goldcorp 11 Hearst Detour Lake Mine, Detour Gold Bell Creek, Tahoe Sugar Zone, Harte Gold ONTARIO Smooth Rock Falls Black Fox, McEwen Cochrane Timmins West,
Slide 61: Island Gold – history
Island Gold – history 2018 • Completed mill expansion to 1,100 tpd 2013 • P&P Mineral Reserves1,2 increased to 959k oz with mid 2008 • Announced Inferred mineral resources of 508,000 oz 2015 year update Richmont Mines acquired Au grading 10.73 g/t for the Island Gold Deep C Zone Initial 800 tpd • Mi
Slide 62: Island Gold – growing production, declining costs
Island Gold – growing production, declining costs 160 $1,600 135 - 145 $1,452 140 $1,400 120 $1,185 $1,200 Gold production (000 oz Au) $1,136 106 AISC Costs (US$/oz) 99 100 $1,000 83 80 $825 1 $800 $745 $730-$770 60 55 $599 $600 46 48 42 42 39 40 40 $400 34 29 20 $200 - $0 2007 2008 2009 2010 2011 2
Slide 63: Island Gold – one of Canada’s highest grade gold mines
Island Gold – one of Canada’s highest grade gold mines Mineral Reserve Grade (g/t Au) 21.0 +68% 14.6 12.2 10.7 9.9 9.2 7.7 7.7 7.7 7.1 6.5 6.4 6.0 4.4 4.1 4.1 3.8 3.7 3.2 2.7 1.6 Source: Company filings 63
Slide 64: Island Gold – Mineral Reserve & Resource growth over time
Island Gold – Mineral Reserve & Resource growth over time Mineral Reserves and Resources Over Time (koz) Proven & Probable Mineral Reserves M&I Mineral Resources 11 +28% Inferred Mineral Resources 2,350 P&P Mineral Reserve grade Increase in mineral reserves3 Cumulative oz produced 2,100 10 1,850 1,1
Slide 65: Island Gold – 2018 Review
Island Gold – 2018 Review 2018A (Q3 YTD 2018A 2018 Revised 2018 Initial Q1 2018 Q2 2018 Q3 2018 Q4 2018 where indicated Guidance Guidance by Italics) Gold Production (k oz) 28.1 26.7 22.0 29.0 105.8 100-110 90-100 Cost of Sales1 (US$/oz) $1,000 $1,027 $1,085 $1,033 $1,025 $1,175 Total Cash Costs2 (U
Slide 66: Island Gold – 2019 guidance
Island Gold – 2019 guidance 2018A % Change (2018 Q3 YTD where indicated by Italics) 2019E Guidance (Based on midpoint) Gold Production (k oz) 105.8 135-145 32% Cost of Sales1 (US$/oz) $1,033 $880 -15% Total Cash Costs2 (US$/oz) $597 $460 - 500 -20% Mine-site AISC2 (US$/oz) $759 $730 - 770 -1% Underg
Slide 67: Operations
Operations Austin Hemphill General Manager, Island Gold67
Slide 68: Mining – longitudinal retreat (modified avoca)
Mining – longitudinal retreat (modified avoca) Mining method: • Longitudinal retreat long-hole open stoping (modified Avoca) • Transverse mining in wider zones • Alimak mining in western block Current production fleet: • 6x AD30 Trucks • 8x MT42 Trucks • 8x 6 yd Scoops • 4x 7yd Scoops Mining fleet –
Slide 69: Mining – longitudinal retreat stope sequence
Mining – longitudinal retreat stope sequence • Mining starts at the extreme ends of the horizon and progresses toward centre • Higher grades toward centre of ore body creating some grade variability with mining sequence • Adding cement rockfill – allows for mining to greater widths & increased recov
Slide 70: Mining – transverse mining block
Mining – transverse mining block • Better suited to mining zones greater than 15m wide • Large stope sizes resulting in improved productivity and lowered drilling and cable bolting costs • Independent access to adjacent stopes blocks allows simultaneous activities • Sequencing follows traditional pr
Slide 71: Mining – cemented rock fill
Mining – cemented rock fill Addition of CRF in certain areas • Increased sill pillar recovery (67% recovery vs 50% recovery) • Higher cost offset by improved recovery • Allows mining to greater widths • 860 West Transverse Block • Reduced operating risk • Hanging wall failure • Unplanned material mo
Slide 72: Island Gold – deposit continuing to evolve & grow since PEA
Island Gold – deposit continuing to evolve & grow since PEA Mineral Reserves (000 oz Au)1 Mineral Reserve grade (g/t Au) 1 Mineral Resources outside of Expansion PEA Area (000 oz Au) +28% +17% +51% 1,130 959 10.7 752 9.17 750 156 Dec. 2016 Jun. 2018 Dec. 2016 Jun. 2018 Dec. 2016 Jun. 2018 Reserves D
Slide 73: Island Gold – exceeding Phase I PEA on key metrics
Island Gold – exceeding Phase I PEA on key metrics Production (koz Au) Milling Rates (TPD) 160 1,200 140 1,000 120 100 800 80 600 60 400 40 20 200 0 - 2013 2014 2015 2016 2017 2018 2019E 2013 2014 2015 2016 2017 2018 2019E Milled Grade (g/t Au) Mining Rates (TPD) 12 1,200 10 1,000 8 800 6 600 4 400
Slide 74: Island Gold – 2019 capital guidance
Island Gold – 2019 capital guidance Capital Expenditures (US$m) 2018 Guidance 2019 Guidance 2019 estimate in PEA Sustaining Capital (US$m) $25-27 $35 – 40 $31 Growth Capital (US$m) $25-28 $15 – 20 $1 Total Capital (US$m) $50-55 $50 – 60 $32 • ~$23m increase vs 2017 PEA • Additional underground devel
Slide 75: 2019 development plan – increasing rate of development
2019 development plan – increasing rate of development • Expanding outside PEA Expansion area given mineral reserve & resource growth • Accelerating rate of development to support higher throughput rates 75
Slide 76: 2019 production plan
2019 production plan mm ALAMOS GOLD INc. [Alimak Zone 7,030 tonnes [Extension Horizon 98,658 tonnes}-—— '740 Horizon > < 84,469 tonnes ~~ = 860 East Horizon yy ~|73,940 tonnes, [860 West Horizon = 2 119,349 tonne: - tT B ec Zi ORF Mined Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 76
Slide 77: 860 west horizon
860 west horizon mm ALAMOS GOLD INc. 800 LEVEL 820 LEVEL 840 LEVEL 800-C- '800-C-153 |800-C-154 | 800-C-155 3,606 c * 4978t 5,350t 10,220t 8.15 apt 8.25 gpt 20.97 gpt 17.44 gpt 8206-52 [ezoca-ts3 — [s20.cB-154 4,985 t 4,508 t 6,105 t S78 opt |4.40 apt 3.96 gpt 13,651t 12.81 got 820-¢-154] 6,041 13.0
Slide 78: Island Gold – 2019 capital guidance
Island Gold – 2019 capital guidance • Expanding tailings capacity • $7m investment in surface infrastructure • Coffer Dam $3m to be spent in 2019 to support growing mine life • First phase of planned expansion required to • New Warehouse accommodate growth in mineral reserves • New kitchen • New bun
Slide 79: Island Gold – continuous improvement
Island Gold – continuous improvement Continuous improvement initiatives • Improved recovery of sill pillar Cemented Rock Fill • Improved recovery of wider mining horizons • Reduction in operating risk associated with hanging wall failure & unplanned material movements • Primary maintenance facility
Slide 80: Island Gold – unit costs & currency sensitivities
Island Gold – unit costs & currency sensitivities Unit Costs Q3 YTD 2018 2019 Estimates 2019 Cost Structure per tonne1 Underground C$155 C$135 Mill Consumables Mill Processing C$31 C$30 Fuel 2% Mining 3% Consumables Administration C$16 C$20 6% Electricity & Heating 7% Maintenance Labour & Related 8%
Slide 81: Island Gold – next phase expansions
Island Gold – next phase expansions Focus since November 2017 acquisition Successful integration Expand exploration efforts Year 1 Grow mineral reserve and resource base Complete Phase I expansion to 1,100 tpd o Continue expanded exploration effort Year 2 o Expand mineralization and continue
Slide 82: Island Gold – Phase I expansion to 1,100 tpd
Island Gold – Phase I expansion to 1,100 tpd • Mill expansion to 1,100 tpd completed September 2018 • Mill throughput averaged ~1,150 tpd Sept – Dec 2018 • Expanded mill design capacity of 1,200 tpd 82
Slide 83: Island Gold – Phase II expansion
Island Gold – Phase II expansion • Current expanded mill capacity ~1,200 tpd • Current mine infrastructure can support ~1,200 tpd • ~4 extra trips per day from truck fleet (42t trucks) • Permitted for 1,100 tpd annual average (permit received Dec. 2016) • Working on amending annual permit to 1,200 t
Slide 84: Island Gold – Phase III expansion
Island Gold – Phase III expansion LEGEND Ramp & Development Plunge of Au Mineralization Mined out • Will be dictated by: Proven Reserves (June 2018) Probable Reserves (June 2018) Indicated Resources (June 2018) • Ongoing exploration success Inferred Resources (June 2018) Diabase Dyke • Ultimate size
Slide 85: Island Gold – exploration
Island Gold – exploration Raynald Vincent Scott R.G. Parsons Chief Geologist, Island Gold Director, Exploration 85
Slide 86: Geology – prolific gold-producing region
Geology – prolific gold-producing region SCHREIBER HEMLO Marathon ISLAND GOLD MINE Superior Lake White River 17 RENABIE Proterozoic Rocks Archean Granitoid Plutons Archean Metasedimentary Terranes EDWARDS Archean Greenstone Belts MISHI Fault Gold Past Producer Wawa Gold Producer EAGLE RIVER 25 km 86
Slide 87: Island Gold Project – land tenure (9,011 hectares – Jan 2019)
Island Gold Project – land tenure (9,011 hectares – Jan 2019) Dubreuilville Portal Main Edwards Ramp Cline Argonaut 1,968 ha. Magino ISLAND GOLD MINE Emily Bay Showing 2 km Ego ALAMOS GOLD PROPERTIES Deposit OTHER OWNERS 87
Slide 88: Geology – adjacent past producers in high grade system
Geology – adjacent past producers in high grade system EDWARDS 150 k oz Au CLINE 121 k oz Au % % KREMZAR 47 k oz Au SW NE Mill % Ramp Goudreau Zone MAGINO OPEN PIT % ISLAND GOLD MINE 662 k oz Au produced (Dec 2018) % Typical Cross Section Lochalsh Zone MAGINO 95 k oz Au 1 km 88
Slide 89: Island Gold – cross section looking west
Island Gold – cross section looking west Typical Cross Section 89
Slide 90: Geology & exploration – gold occurrence
Geology & exploration – gold occurrence • Gold is mainly contained in high-grade quartz veins located inside plurimetric shear zones with altered host rocks (API) • Number and thickness of quartz veins are more important in the core of the C Zone at depth. DDH: MH16-03: C vein – milky white color +
Slide 91: Evolution of Island Gold – 2010
Evolution of Island Gold – 2010 W LOCHALSH ISLAND EXT1 EXT2 GOUDREAU Surface E Crown pillar 190 m Level 340 m Level GD-10-02 10.4/5.1 (2.9) - 500 m GD-10-07 GD-10-05 GD-10-04 GD-10-10 4.0/4.4 (2.4) 5.0/1.2 (0.7) 8.2/6.4 (3.2) 8.6/3.3 (1.7) GD-10-06 7.9/1.4 (0.9) 6.0/0.6 (0.4) GD-10-09 GD-10-08 2,000
Slide 92: Evolution of Island Gold – year-end 2017
Evolution of Island Gold – year-end 2017 W LOCHALSH ISLAND EXT1 EXT2 GOUDREAU Surface E Crown pillar 190 m Level 340 m Level - 500 m 620 m Level 2,000 11 740 m Level 10 1,500 908 9 - 1 000 m 996 8 Grade (g/t Au) 1,000 768 1,037 1,003 111 oz Au 7 91 LEGEND) 72 6 500 564 Ramp & Development 139 887 67
Slide 93: Island Gold Main Zone Longitudinal
Island Gold Main Zone Longitudinal 93
Slide 94: Island Gold Main Zone Longitudinal – Main Extension
Island Gold Main Zone Longitudinal – Main Extension 94
Slide 95: Island Gold Main Zone Longitudinal – Eastern Extension
Island Gold Main Zone Longitudinal – Eastern Extension 95
Slide 96: Island Gold Main Zone Longitudinal – Western Extension
Island Gold Main Zone Longitudinal – Western Extension 96
Slide 97: Island Gold – long section as of January 09, 2019
Island Gold – long section as of January 09, 2019 Gold Metal Factor (Grade x True Width) - C & E1E Zones LEGEND Ramp & Development (Cut Grade * True width) Mined out Reserves and Resources (June 2018) 210 Diabase Dyke 30 Drillhole intersection HOLE-ID g/t Au Uncut (g/t Au cut) / True Width metres 15
Slide 98: Island Gold Deposit – 3D view
Island Gold Deposit – 3D view LEGEND Ramp & Development Mined out Proven Reserves (June 2018) Probable Reserves (June 2018) Indicated Resources (June 2018) -500 mInferred Resources (June 2018) 98
Slide 99: Island Gold – 2019 exploration budget summary
Island Gold – 2019 exploration budget summary Island Gold Mine - 2019 Exploration Budget Exploration Activity US$M Surface Directional Drilling $10 Underground Exploration Drilling $2 Underground Exploration Drift (917 m) $5 Regional Exploration/Geological Model $2 Total $19 Island Gold Mine Mid-Lon
Slide 100: Island Gold – 2019 Drilling
Island Gold – 2019 Drilling Drillhole Intersection Au Cut (g/t) Au Cut * True Width (gm/t) < 3.7 < 7.5 3.7 < 10.0 7.5 < 20 10.0 < 30.0 20 < 60 340 Level 2019 UG >= 30.0 >= 60 Exploration drilling New Drillhole Intersections (10,000m) Previously Released Drillhole Intersections 620 Level 2019 UG Expl
Slide 101: Island Gold – regional exploration
Island Gold – regional exploration • Large land package – 9,011 hectares. • Significant regional exploration potential. • Property-scale AGG HeliFALCON® Survey EDWARDS CLINE 121 k oz Au completed in fall-2018 (2170 line-km, 150 k oz Au 100-m line spacing) - highest-resolution KREMZAR airborne gravit
Slide 102: Questions
Questions 102
Slide 103: Mulatos Mine – overview
Mulatos Mine – overview Peter MacPhail Marcelo Martínez Chief Operating Officer Project Manager La Yaqui Grande & Cerro Pelon 103
Slide 104: Mulatos – overview
Mulatos – overview Location: Sonora, Mexico Stage: Producing Ownership: 100% interest Operation: Open pit, heap leach • Acquired for $10m in 2003 • Initial capex ~$70m; initial production 2005 • Produced 1.9m oz to date; 5% NSR capped at 2m oz • Generated ~$430m in free cash flow to date • 8 year re
Slide 105: Mexico – overview
Mexico – overview Francisco Quiroga – Undersecretary of Mining stated in a recent interview1 that: • The new government does not seek to implement drastic changes in the sector, cancel concessions or raise royalties that companies pay to extract minerals • “There is a principle of non-retroactivity
Slide 106: Mulatos – history
Mulatos – history 2016 • Transitioned to concentrate production 2017 from high grade mill • La Yaqui Phase I built 2005 2008 2013 • Increased carbon column capacity to • Combined mineral reserves 2010 mitigate seasonal impact and resources at La Yaqui Began ROM stacking Conveyor stacking Reconfigure
Slide 107: Mulatos District – track record of Mineral Reserve replacement
Mulatos District – track record of Mineral Reserve replacement 3,000 2 1.5 2,000 000 Oz Au 1 g/t Au 2,387 2,387 2,388 2,365 1,000 2,057 2,046 2,028 1,885 1,888 1,689 1,732 1,543 0.5 - 109 0 215 366 545 701 854 1,054 1,244 1,384 1,524 1,678 -0.5 (1,000) 1,838 -1 (2,000) -1.5 (3,000) -2 2006 2007 2008
Slide 108: Mulatos – 2018 review
Mulatos – 2018 review 2018A (Q3 YTD 2018A 2018E Revised 2018E Original Q1 2018 Q2 2018 Q3 2018 Q4 2018 where indicated by Guidance Guidance Italics) Gold Production (k oz) 46.0 50.6 43.3 35.6 175.5 170-180 150-160 Cost of Sales1 (US$/oz) $976 $997 $991 - $988 $1,000 $950 Total Cash Costs2 (US$/oz) $
Slide 109: Mulatos District – 2019 guidance
Mulatos District – 2019 guidance 2018A % Change 2018E Guidance (Q3 YTD 2018A where 2019E Guidance (Based on midpoint indicated by Italics) 2018A) Gold Production (k oz) 170-180 175.5 150-160 -12% Cost of Sales1 (US$/oz) $1,000 $988 $1,065 8% Total Cash Costs2 (US$/oz) $800 $784 $820-$860 7% Mine-sit
Slide 110: Mulatos District – 2019 guidance
Mulatos District – 2019 guidance % Change 2018E Guidance 2019E Guidance (Based on midpoint) Sustaining Capital ($USm) $8 - $10 $5 -44% Growth Capital ($USm) (1) $31 - $33 $45-50 +48% Total Capital ($USm) $39 - $43 $50-55 +27% 2019 Growth Capital Projects • Leach pad expansion: $5M • Pre-stripping: $
Slide 111: Mulatos District – 2019+ sources of ore
Mulatos District – 2019+ sources of ore 111
Slide 112: Mulatos District – mining from five pits in 2019
Mulatos District – mining from five pits in 2019 San Carlos Open Pit Main Mulatos Pit El Victor La Yaqui Grande La Yaqui Phase I Cerro Pelon 112
Slide 113: Mulatos District – 2019+ mine plan
Mulatos District – 2019+ mine plan 2019 2020 2021 2022 2023 2024 2025 Main Mulatos pit El Victor San Carlos (pit) Cerro Pelon La Yaqui Phase I La Yaqui Grande Stockpiles Average production 150-160koz/yr; declining costs 113
Slide 114: Mulatos District – satellite deposits
Mulatos District – satellite deposits Marcelo Martínez Project Manager La Yaqui Grande & Cerro Pelon 114
Slide 115: La Yaqui Phase I – low capital, higher grade, high return
La Yaqui Phase I – low capital, higher grade, high return February 2017 Location: Mulatos District Stage: Producing Ownership: 100% interest Operation: Open pit, heap leach • Construction started January 2017 • Completed in eight months – ahead of schedule • $13m initial capital – six month payback
Slide 116: Cerro Pelon – higher grade, high return
Cerro Pelon – higher grade, high return Location: Mulatos District Stage: Development Ownership: 100% interest Operation: Open pit, heap leach • 4 year reserve life • Fully permitted • MIA & CUS submitted mid-2018 • MIA & CUS approved December 2018 • Ore to be processed at Mulatos heap leach pad • I
Slide 117: Cerro Pelon – preliminary economics
Cerro Pelon – preliminary economics Cerro Pelon Preliminary operating parameters Mine life ~4 years Throughput 2,200 tpd Average Annual Production (oz Au) 35,000 oz Total Cash Costs (US$/oz) ~$500/oz Total Capital (US$ m) ~$25m FCF, After-tax (US$ m) ~$50m After-tax NPV 5% (US$m) ~$40m After-tax IRR
Slide 118: Cerro Pelon – project overview
Cerro Pelon – project overview Airstrip Mulatos Leach Pad Expansion Cerro Pelon Crusher Pond #8 Cerro Pelon Pits Cerro Pelon Haul Road 118
Slide 119: Cerro Pelon – development plan
Cerro Pelon – development plan • Crusher installation – transferring from El Chanate • Haul road bridge above overland conveyor • Q3 2019 expected completion • Q4 2018 Completed. Cerro Pelon Crusher Circuit Cerro Pelon Haul Road Bridge Cerro Pelon Agglomeration Package Cerro Pelon Haul Road Bridge 1
Slide 120: La Yaqui Grande
La Yaqui Grande Location: Mulatos District Stage: Permitting/Development La Yaqui Grande Ownership: 100% interest Operation: Open pit, heap leach La Yaqui Phase I • Five year reserve life • Conventional open pit mining • Independent crusher facilities, HLP, ADR Plant • Loaded carbon to be processed
Slide 121: La Yaqui Grande – project overview
La Yaqui Grande – project overview La Yaqui Grande La Yaqui Grande La Yaqui Grande Heap Leach Facility Crusher Waste Rock Dump La Yaqui Grande Pits La Yaqui Grande Process & Ponds La Yaqui Phase I 121
Slide 122: La Yaqui Grande – pre-construction
La Yaqui Grande – pre-construction Waste Rock Dump La Yaqui Grande Pit La Yaqui Phase I La Yaqui Phase I Pit Heap Leach Pad & Main Access Road Truck Shop & Mine Facilities Facilities Operation Warehouse Main Offices Crusher Pregnant, Barren & ADR Plant contingency Ponds Construction Offices & Wareho
Slide 123: La Yaqui Grande – preliminary operating parameters
La Yaqui Grande – preliminary operating parameters La Yaqui Grande Preliminary Operating Parameters Mine life ~5 years Throughput (tpd) 10,000 tpd Average Annual Production (oz Au) 115,000 oz • Significant pre-strip anticipated • Strip ratio ~6:1 • More detailed parameters to be provided following r
Slide 124: Mulatos exploration
Mulatos exploration Michele Cote Chief Exploration Geologist, Corporate 124
Slide 125: Mulatos District
Mulatos District La India Mine (AEM) • World class high-sulphidation epithermal district Mulatos Mine • Significant district-wide exploration potential • Continue systematically exploring Cerro Pelon 28,972 Ha concession La Yaqui Mine • 2019 budget: $6M • 10,000 m drilling 125
Slide 126: 2018 & 2019 exploration objectives
2018 & 2019 exploration objectives Continue Systematic Exploration of Mulatos Concession • 9000 Ha to be mapped on existing concessions • Evaluate and design reconnaissance scale programs on 38,000 Ha of new concessions (pending) • Objective – identify prospective areas – Alteration + Structure + Li
Slide 127: VTEM Geophysical Survey
VTEM Geophysical Survey • 4042 Line km Survey Completed in December, 2018 • VTEM SURVEY = Versatile Time Domain Electromagnetic Survey • Measures conductivity and magnetic intensity • Final data expected in February 2019 • Objective – identify resistivity anomalies which are potential Lithocaps (res
Slide 128: Concession-scale reconnaissance mapping
Concession-scale reconnaissance mapping Stratigraphy, Structure and Alteration - Key to finding more Au • Total Concession Area (grey) – 28,972 ha • Total Mapped – 11,150 ha ~40% La India • New Concessions (blue, pending) – 37,883 ha MULATOS Cerro Pelon Yaqui 10 km 128
Slide 129: 2018 Scout Drilling - Carricito
2018 Scout Drilling - Carricito 2018 DDH • 2018: Tested 13 Alteration, Structural and Stratigraphic Targets: 5293 m • 6 holes intersected between 1-2m of 0.30 – 0.72 g/t Au 3.14 g/t Au / 1.4m • 2019 Continue interpretation and assess potential for additional mineralization 1.40 g/t Au / 1.3m M&I : 3
Slide 130: Near mine high grade underground targets
Near mine high grade underground targets VIDEO 130
Slide 131: El Chanate – overview
El Chanate – overview Peter MacPhail Chief Operating Officer 131
Slide 132: El Chanate – 2018 review
El Chanate – 2018 review 2018A Q1 2018 Q2 2018 Q3 2018 Q4 2018 (Q3 YTD 2018A where 2018E Guidance indicated by Italics) Gold Production (k oz) 13.8 10.1 9.7 10.1 43.7 40 – 50 Cost of Sales1 (US$/oz) $1,268 $1,507 $1,404 $1,384 $1,285 Total Cash Costs2 (US$/oz) $1,176 $1,404 $1,301 $1,285 $1,200 Mine
Slide 133: El Chanate – 2019 guidance
El Chanate – 2019 guidance 2018A % Change 2019E Guidance (Q3 YTD 2018A where indicated by Italics) (Based on midpoint) Gold Production (k oz) 43.7 15 – 25 -54% Cost of Sales1 (US$/oz) $1,384 $1,300 -6% Total Cash Costs2 (US$/oz) $1,285 $1,200 -7% Mine-site AISC2,3 (US$/oz) $1,312 $1,200 -9% Throughp
Slide 134: Questions
m Questions ALamos GoLp INc.
Slide 135: Sustainability
Sustainability Colin Webster Vice President, Sustainability and External Affairs 135
Slide 136: Company values
Company values mm ALAMOS GOLD INc. Old WE: cone hotnandzey bere t aeigect ne coomerto sey ‘Ss ooprunes tbe ec ‘Values Ourcote values drive our conduct and our expectations for our ‘empleyces and contractors Inevery county end community in which we operate, WE: Pitre nwt we ute pose ener, 20s, scting
Slide 137: Alamos Gold Sustainability Framework
Sustainability Alamos Gold Sustainability Framework Consolidates our various sustainability related policies and practices into a single, principled, comprehensive sustainability framework with four focus areas. Current Framework Future Framework Core Four areas of focus: Values 1. People 2. Communi
Slide 138: Health & Safety
Health & Safety Performance Home Safe Every Day AGI LTIFR (per 200k hours worked) • Provide training, equipment and systems to 0.50 employees and contractors 0.45 0.40 0.35 • Conduct safety leadership coaching 0.35 programs for frontline supervisors 0.30 0.25 0.227 • Comply with all applicable healt
Slide 139: Environmental Management
Environmental Environmental Management • Air Emissions • Includes sampling of emissions from power generators, boilers, and furnaces, and continual air sampling in the areas surrounding our mines • Water Management • Comprehensive surface water monitoring programs at all operating sites. • Water man
Slide 140: Communities – Community Initiatives
Communities Community Initiatives Mulatos • Medical clinic serves as the primary health facility for the Mulatos and Matarachi communities • Continued support of education initiatives and scholarships. El Chanate • Continued support of Sewing Workshop Project, which trains women in employable skills
Slide 141: Mulatos – Resettlement in Matarachi
Mulatos – Resettlement in Matarachi New Education Centre New Community Centre New Replacement Housing 141
Slide 142: Development stage projects
Development stage projects Andrew Cormier Vice President, Development and Construction 142
Slide 143: Kirazlı Gold Project – overview
Kirazlı Gold Project – overview Location: Turkey Stage: Development Ownership: 100% interest Operation: Open pit, heap leach • Kirazlı GSM permit granted • Expect to mobilize for full-scale construction H1 2019 • Kirazlı & Ağı Dağı feasibility studies completed February 20171 outlining 185% increase
Slide 144: Turkey – overview
Turkey – overview 2010 2011 2012 2013 2014 2015 2016 2017 2018 Acquisition of Turkish Assets Preliminary Economic Assessment Pre-Feasibility Study Feasibility Study Exploration Investment & Increase in Resources EIA Submission & Approval Forestry Permit Submission & Approval GSM Submission and Appro
Slide 145: Economics – 2017 Feasibility Studies
Economics – 2017 Feasibility Studies $600 +236% Kirazlı Ağı Dağı 2017 Positive Economic Studies1 Feasibility Feasibility Çamyurt PEA Study Study $86m $500 After- tax NPV8% (US$m) Mine Life Years 5 6 4 $400 oz Au 104,000 177,600 93,200 $298m $300 Average Annual Production oz Ag 617,300 444,200 403,00
Slide 146: Kirazlı – development timeline
Kirazlı – development timeline 2019 2020 Construction Commissioning Initial production TRY/USD Exchange rate • Devaluation of the Turkish Lira 8.00 • 2.9:1 – TL:USD exchange rate used in Feasibility 7.00 Study 6.00 2017 Feasibility Study • 5.4:1 – TL:USD exchange rate currently – 46% 2012 Technical
Slide 147: Kirazli – construction progress
Kirazli – construction progress Bypass road (as of Dec 2018) – 100% complete Power line construction (as of Dec 2018) – 85% complete Water reservoir (as of Dec 2018) – 50% complete 147
Slide 148: Kirazlı, Ağı Dağı & Çamyurt development sequence
Kirazlı, Ağı Dağı & Ҫamyurt development sequence 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Kirazlı Permitting Construction Production Ağı Dağı Permitting Construction Production Ҫamyurt Permitting Construction Production Ağı Dağı Self financing Kirazlı ~$300m FCF over $250m initial capital w
Slide 149: Lynn Lake Project – overview
Lynn Lake Project – overview Location: Manitoba Stage: Permitting Ownership: 100% interest Operation: Open pit, milling • High grade, open pit • Significant exploration potential • Existing infrastructure in place • Low cost hydroelectric power • Feasibility study results announced Dec 20171 Gold &
Slide 150: Lynn Lake Project – overview
Lynn Lake Project – overview • 235 km NW of Thompson • A top ranked jurisdiction – Fraser Institute Investment Attractiveness Index1 • Strong provincial government and local support Thompson • Full Land package secure with an additional 18,500 hectares of prospective areas staked 1 Fraser Institute
Slide 151: Lynn Lake – December 2017 Feasibility Study
Lynn Lake – December 2017 Feasibility Study Feasibility Study Highlights - December 20171 Mine life (years) 10.4 Total gold production (000 ounces) 1,495 Total silver production (000 ounces) 1,263 Average annual gold production1 Years 1 to 6 (000 ounces) 170 Years 1 to 10 (000 ounces) 143 Average gr
Slide 152: Lynn Lake – 2019 optimization study
Lynn Lake – 2019 optimization study • Value Engineering initiatives • Revised mine plan • Optimized mine plan incorporating larger MacLellan mineral resource • Higher throughput rate • Capital optimization • Overall site relocation • Structures and foundations for plant site and infrastructure • Rev
Slide 153: Lynn Lake potential development timeline
Lynn Lake potential development timeline 2019 2020 2021 2022 2023 Feasibility Study update Project Description/ EIS preparation EIS – review and responses – Licensing decision – Final EA Basic/Detailed engineering Construction Commissioning Initial production • Assumes positive construction decision
Slide 154: Lynn Lake Project – exploration
Lynn Lake Project – exploration Scott R.G. Parsons Director Exploration, Canada 154
Slide 155: Lynn Lake Project – land tenure (58,000 hectares - Jan 2019)
Lynn Lake Project – land tenure (58,000 hectares - Jan 2019) • Significant exploration potential at both deposit- and regional-scales. • Staked an additional 18,000 hectares of highly prospective mineral claims in 2018. • Total land package increased to 58,000 ha. 155
Slide 156: Lynn Lake Project – land tenure (58,000 hectares - Jan 2019)
Lynn Lake Project – land tenure (58,000 hectares - Jan 2019) • Significant exploration potential at both deposit- and regional-scales. • Staked an additional 18,000 hectares of highly prospective mineral claims in 2018. • Total land package increased to 58,000 ha. 156
Slide 157: Lynn Lake Exploration – 2019 objectives
Lynn Lake Exploration – 2019 objectives Gordon & MacLellan Test exploration targets within, and in proximity to the existing Deposits deposits with the goal of adding materially to the existing resource base • Gordon and MacLellan Targeting; and • 14,000 m of drilling. Short Term – Strategic Explora
Slide 158: Lynn Lake Greenstone Belt – highly prospective, underexplored
Lynn Lake Greenstone Belt – highly prospective, underexplored Lynn Lake Greenstone Belt – key criteria for orogenic gold: • Johnson and Agassiz shear zones – D2 crustal-scale structures; key for fluid pathways. • Complex deformational history, including D2 transpression. • Favourable lithologies, si
Slide 159: Lynn Lake Project – systematic regional exploration
Lynn Lake Project – systematic regional exploration • Systematic exploration targeting is the process of scale-reduction using a set of robust exploration criteria and recognition of the characteristics of mineralizing Exploration Datasets systems at all scales. • Drilling; • Mapping; • Thorough und
Slide 160: CGG HELIFALCON® Airborne Gravity Gradiometry
CGG HELIFALCON® Airborne Gravity Gradiometry CGG Airborne Gravity Gradiometer (AGG) HeliFALCON® Survey • Belt-Scale AGG HeliFALCON® Survey completed in fall-2018 (7548 line-km, 100-m line spacing) - highest-resolution airborne gravity gradiometry data presently available. • Detection of steep gravit
Slide 161: Lynn Lake – regional reconnaissance glacial till sampling
Lynn Lake – regional reconnaissance glacial till sampling • Lynn Lake Greenstone Belt has extensive glacial cover (>70%). Historically, an exploration challenge Exploration opportunity if used correctly • Till is “first derivative” diluted product of bedrock and through glacial erosion and deposit
Slide 162: Closing remarks
Closing remarks John A. McCluskey President & Chief Executive Officer 162
Slide 163: Alamos – value creation opportunities
Alamos – value creation opportunities Diversified intermediate gold producer Low-cost growth profile Strong balance sheet to support growth Long-term track record of delivering shareholder value Catalysts Young-Davidson – stronger operational performance Island Gold – Phase II expansion & ongoing Yo
Slide 164: Appendix
m Appendix Atamos GOLD INc.
Slide 165: Island Gold – Phase I Expansion PEA Summary
Island Gold – Phase I Expansion PEA Summary 2017 2018 2019 2020 2021 2022 2023 2024 TOTAL MINING Tonnes Mined T 364,600 370,000 405,900 408,100 401,500 402,300 401,500 342,800 3,096,700 Tonnes Mined TPD 999 1,014 1,112 1,118 1,100 1,102 1,100 939 1,061 Grade Mined g/t Au 8.13 8.35 11.01 8.56 11.12 1
Slide 166: Kirazlı, Ağı Dağı & Çamyurt Economic Studies – 2017
Kirazlı, Ağı Dağı & Çamyurt Economic Studies – 2017 Feasibility Study - 2017 Preliminary Economic Assessment - 2017 Kirazlı Ağı Dağı Çamyurt Production Mine life (years) 5 6 4 Total gold production (ounces) 540,000 937,300 373,200 Total silver production (ounces) 3,141,000 2,365,200 1,612,600 Averag
Slide 167: Lynn Lake Feasibility Study – 2017
Lynn Lake Feasibility Study – 2017 Feasibility Study Highlights - December 2017 Production Mine life (years) 10.4 Total gold production (000 ounces) 1,495 Total silver production (000 ounces) 1,263 Average annual gold production1 Years 1 to 6 (000 ounces) 170 Years 1 to 10 (000 ounces) 143 Total ore
Slide 168: Proven & Probable Mineral Reserves
Proven & Probable Mineral Reserves PROVEN AND PROBABLE GOLD MINERAL RESERVES Proven Reserves Probable Reserves Total Proven and Probable Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) Young-Davidson - Surface 857
Slide 169: Total Measured & Indicated Mineral Resources
Total Measured & Indicated Mineral Resources MEASURED AND INDICATED GOLD MINERAL RESOURCES Measured Resources Indicated Resources Total Measured and Indicated Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) Young-
Slide 170: Total Inferred Mineral Resources
Total Inferred Mineral Resources INFERRED GOLD MINERAL RESOURCES Tonnes Grade Ounces (000's) (g/t Au) (000's) Young-Davidson - Surface 31 0.99 1 Young-Davidson - Underground 3,498 2.75 310 Total Young-Davidson 3,528 2.74 311 Island Gold 3,673 9.99 1,180 Mulatos 8,804 0.92 261 San Carlos UG 162 4.93
Slide 171: Notes to Mineral Reserve and Resource estimates
Notes to Mineral Reserve and Resource estimates Qualified Persons Chris Bostwick, FAusIMM, Alamos Gold’s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this presentation. Chris Bostwick is a Qualified Person within the meaning of C
Slide 172: Scott K. Parsons, CFA
Scott K. Parsons, CFA VP, Investor Relations 416.368.9932 x 5439 sparsons@alamosgold.com 172