Mining Americas Inc. · TSX:MAI
Mining Americas — Minera Alamos — Investor Presentation (May 2026)
26 slides from Mining Americas's investor presentation, May 2026
Slide 1: Building a U.S. Focused Intermediate Gold Producer
Building a U.S. Focused is becoming Intermediate Gold Producer is rebranding to TSX.V: MAI | OTCQX: MAIFF Proposed Name Change to Mining Americas Inc. May 2026 Minera Alamos Inc. announced a proposed change of the Company’s name to Mining Americas Inc., subject to the approval of its shareholders at
Slide 2: Forward Looking Statement & Cautionary Note
is becoming Forward Looking Statement & Cautionary Note Cautionary Statement Regarding Forward Looking Statements This presentation contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes statements that use forward-looki
Slide 3: Minera Alamos Overview
Minera Alamos Overview is becoming Rapidly Growing Gold Production in the Americas Americas-Focused Portfolio Investment Highlights Pan Mine Gold Rock Junior Gold Producer with Peer-Leading Production Growth – Cash flowing gold production with significant margins at spot prices Copperstone – 32-38 k
Slide 4: Recent Achievements & Upcoming Milestones
is becoming Recent Achievements & Upcoming Milestones Executed term sheet for US$75M revolver with Scotiabank and National Bank Issued 2026 guidance: 32– 38koz, US$1,850–2,000/oz AISC Copperstone Cerro de Oro PFS results federal permit Completed 10:1 share consolidation Copperstone Gold Rock Coppers
Slide 5: Cornerstone Assets
is becoming Cornerstone Assets Most Projects are Permitted, Past-Producing, and Low Capital Intensity Gold Pan Copperstone Cerro de Oro Rock Mine Project Project Project Location Nevada Arizona Nevada Zacatecas Status Producing Pre-Construction Development Development (internal trade-off studies) (a
Slide 6: Project Sequencing & Milestones
is becoming Project Sequencing & Milestones Peer-leading, organically funded growth 2026-2028 2025 2026 2027 2028 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Acquisition Close Pan Operating Complex Pan Production & Cashflow Cash flow from Updated Pan Pan, growth from Technical Report Gold Rock Gold
Slide 7: Emerging Intermediate Gold Producer
is becoming Emerging Intermediate Gold Producer Portfolio Highlights Production Potential (koz Au)4 Opportunity to increase production through exploration success Asset Pan Mine Copperstone Gold Rock Cerro de Oro 130-180 PEA PEA PEA Stage Operating (permitted) (permitted) (permits pending) 55-60 Pan
Slide 8: Pan Operating Complex
is becoming Pan Operating Complex Open-pit, conventional heap-leach assets Pan Mine Highlights Pan Mine Historical Results • Located East Central Nevada, ~28 km SE of Eureka, along Battle Mountain 2022 2023 2024 2025 trend; 100% owned by Minera Alamos Ore on Pad 3,030 4,593 4,333 4,649 • Open-pit, C
Slide 9: Pan Operating Complex
is becoming Pan Operating Complex INFRASTRUCTURE MAP Claim boundary Access roads Stable Operation with Exploration Upside Pan Resources Open pits • Mine restarted in mid-2017 by Fiore Gold, over 8 years of continuous production Leach pads (35-42 koz/year) • Successful track record of resource conver
Slide 10: Gold Rock Exploration Upside
is becoming Gold Rock Exploration Upside Highlights • Gold Rock hosts Carlin-type mineralization in folded and faulted North high walls of EZ Junior Pit 2018 Fiore Gold drillhole locations (Gold Rock Proj.) Paleozoic carbonate rocks, similar to major Nevada gold belts • Gold is structurally controll
Slide 11: Copperstone Asset Overview
is becoming Copperstone Asset Overview Acquired in 2025 – near-term development with low capex, quick build-period Project Highlights – Arizona, USA Location & Property: – 13.8 sq mile package (surface + mineral rights) – 19 miles north of town of Quartzite – Discovered in 1968; Acq. by MAI in Feb.
Slide 12: Copperstone Exploration Upside
is becoming Copperstone Exploration Upside Potential to significantly expand defined resource of 300koz indicated and 197koz inferred Upside Exploration Potential Open Pit: – First order priority is the projection to surface of the lower mineral zone, with potential to be an open pit; Followed by a
Slide 13: Copperstone Exploration Upside
is becoming Copperstone Exploration Upside Underground and Open Pit Targets South-West Target | target historic cluster of high-grade Copperstone Zone | target downdip extension to intercepts for accretion of additional resource confirm mineralization extends to depth for accretion of resources. Alo
Slide 14: Cerro de Oro Asset Overview
is becoming Cerro de Oro Asset Overview Location Map Project Highlights – Zacatecas, Mexico Location & Property: – 5 mining concessions covering 6,500 ha – 3km from town of Melchor Ocampo – Discovered in the 1500’s Milestones: – Acquired by Minera Alamos in 2020 – Conventional Open Pit – ROM heap le
Slide 15: Cerro de Oro Asset Overview
is becoming Cerro de Oro Asset Overview Exploration Overview • Gold only porphyry system with associated skarn zones - At least two mineralized porphyry phases. • Mineralization associated with porphyry type A/B quartz veinlets, potassic, and skarn alteration with magnetite, pyrite, and only traces
Slide 16: Competitive Positioning
is becoming Competitive Positioning Poised for re-rating to Junior/Intermediate Producer Peer valuation multiples Market Capitalization (US$B) 2026E Au Production (koz)1,2 Consensus P/NAV (ratio)3 Wesdome $2.9 Wesdome 196 Wesdome 1.07x Alkane Resources $1.5 Galiano Gold 185 Alkane Resources 0.83x Mc
Slide 17: Competitive Positioning
is becoming Competitive Positioning Peer Group Leading Gold Production Growth Consensus 2026–2028 Gold Production CAGR1 Consensus 2026–2029 Gold Production CAGR1 i-80 Gold 86% Minera Alamos 68% Minera Alamos 78% i-80 Gold 66% Amaroq 47% New Found Gold 40% Amaroq 40% Heliostar 36% Integra Resources 2
Slide 18: Capital Structure & Ownership
is becoming Capital Structure & Ownership Board & Management High Share Price (May 7, 2026) C$/sh C$7.01 Net worth Share Price (May 7, 2026) US$/sh US$5.14 Research Coverage 2% 10% Common Shares O/S million 109.1 Allison Carson Options million 6.4 Retail Investors Warrants (strike @ C$7.05/sh) milli
Slide 19: Key Management & Board
is becoming Key Management & Board Experienced Management Team – Mine and Company Builders Management Team Board of Directors Darren Koningen, P.Eng. Jason Kosec, BSc. Meerl President & COO, Director Chairman, Director 15 years experience in mineral resources, former executive and geologist at 30 ye
Slide 20: Appendix
is becoming Appendix TSX.V: MAI | OTCQX: MAIFF
Slide 21: Key Executive Biography
is becoming Key Executive Biography Mr. Blasutti Has a Depth and Breadth of Corporate Leadership Executive President & CEO – Americas Gold & Silver Corporation (2012–2024) – Reverse takeover of US Silver in 2012 to acquire the Galena Mining Complex in Wallace Idaho. Restructured the Darren Blasutti,
Slide 22: Key Executive Biography
is becoming Key Executive Biography Executive Mr. Koningen Has Depth of Experience in Development & Operations Chief Executive Officer – Minera Alamos Inc., Toronto, ON (2015 - 2026) Darren Koningen, P.Eng. President & COO, Director – Darren and the Castle Gold technical team took over management co
Slide 23: Key Executive Biography
is becoming Key Executive Biography Executive Mr. Small Has a Track Record of Turnarounds & Value Creation Vice President & General Manager – Jerritt Canyon Gold (Sprott Group of Companies) (May 2019 - August 2022) Kevin Small, P.Eng. EVP Operations – Before Kevin Small assumed leadership, the opera
Slide 24: Reserves & Resources
Reserves & Resources is becoming Tonnes Grade Contained Mt Au (g/t) Ag (g/t) Cu (%) Au (koz) Ag (koz) Cu (kt) Copperstone Measured 0.8 8.12 - - 196 - - Indicated 0.5 7.09 - - 104 - - Total M&I 1.2 7.74 - - 300 - - Inferred 1.0 6.30 - - 197 - - Santana Measured 6.5 0.65 - - 136 - - Indicated 3.1 0.64
Slide 25: Reserves & Resources
Reserves & Resources is becoming Tonnes Grade Contained Mt Au (g/t) Au (koz) Pan Mine Measured 7.8 0.35 86 Indicated 14.5 0.33 154 Measured & Indicated 22.3 0.33 240 Inferred 0.9 0.32 9 Proven 7.5 0.33 80 Probable 14.1 0.31 142 Proven & Probable 21.6 0.32 222 Leach Pad Inventory - - 33 Gold Rock Pro
Slide 26: Reserves & Resources (Cont’d)
Reserves & Resources (Cont’d) is becoming Copperstone Mineral Resources have an effective date of February 15, 2023. The Qualified Person responsible for the Mineral Resource estimate is Mr. Richard A. Schwering, P.G., SME-RM, an employee of Hard Rock Consulting, LLC. Mineral Resources that are not