Slide 1: Mulatos Site Tour
Mulatos Site Tour January 11, 2017 1
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: Overview
Overview Peter MacPhail - Chief Operating Officer 3
Slide 4: Safety Guidelines
Safety Guidelines Your safety is our priority • The personal protection equipment provided to you is required in all areas: • Vests • Safety boots • Hard hat • Safety glasses • Ear plugs (as required) • Please remain with the group throughout the tour • Be sure to observe safety signage • Keep a saf
Slide 5: Strong Platform for Delivering Long Term Value
Strong Platform for Delivering Long Term Value Diversified gold production Expanding margins 400,000 – 430,000 oz from AISC expected to decrease a further three North American mines1 6% in 2017 Track record of delivering shareholder value Peer leading growth Strong balance sheet Portfolio of low-cos
Slide 6: Diversified North American Gold Production
Diversified North American Gold Production Growing, diversified production +6% 400,000 – 430,000 392,000 380,000 Toronto Head Office 2015A 2016A 2017E YOUNG-DAVIDSON 2017E Au Production 200-210k oz 2017E Au Total Cash Costs1 US$625/oz 2017E Au Mine-site AISC1,2 US$775/oz MULATOS 2017E Au Production
Slide 7: Expanding Margins and Site Free Cash Flow
Expanding Margins and Site Free Cash Flow Cost of Sales1 (US$/oz) AISC2,3 (US$/oz) AISC Margin2,3,4 (US$/oz) -6% +35% $1,091 $310 $1,241 $229 ~$1,000 $1,091 $1,065 $940 $57 2015A 2016E 2017E 2015A 2016A 2017E 2015A 2016A 2017E Declining costs & stronger gold price driving significant margin expansio
Slide 8: Peer Leading Low-Cost Growth Profile
Peer Leading Low-Cost Growth Profile Consensus NPV Advanced by Geography1 Leading exploration development Canada Mexico 64% Growth at existing pipeline 24% QUARTZ MOUNTAIN operations MULATOS DISTRICT KIRAZLI YOUNG-DAVIDSON AĞI DAĞI Turkey RAMP-UP 12% ÇAMYURT MULATOS: LA YAQUI & CERRO PELON LYNN LAKE
Slide 9: Track Record of Delivering Shareholder Value
Track Record of Delivering Shareholder Value MULATOS: BLUEPRINT FOR SUCCESS $10m $70m $350m cost to acquire initial capital raised free cash flow1 Mulatos in 2003 to build Mulatos generated to date LEADING GROWTH PROFILE WITH 6 10.7m $170m DISCIPLINED M&A STRATEGY development combined M&I and total
Slide 10: 2016 Scorecard – Production, Costs & Capital on Track
2016 Scorecard – Production, Costs & Capital on Track Production (oz Au) 392,000 oz 2016A 392,000 oz Met 2016 production guidance 2016E 370,000 – 400,000 oz AISC1,2 (US$/oz) ~$1,000/oz 2016 AISC1 down ~8% from 2015 – further 2016A ~$1,000 declines expected in 2017 2016E $975 $22m Cost of Sales3 (U
Slide 11: 2016 Operational Results
2016 Operational Results Go Lp INc. 11
Slide 12: 2016 Operational Results
2016 Operational Results 2016A 2016E Guidance Gold Production (000 oz) Young-Davidson 170 170-180 Mulatos 154 140-150 El Chanate 68 60-70 Total Gold Production 392 370-400 Cost of Sales (US$/oz)1,2 Young-Davidson - $1,034 Mulatos - $1,097 El Chanate - $1,231 Consolidated Cost of Sales - $1,091 Mine-
Slide 13: 2016 Operational Results – Young-Davidson
2016 Operational Results – Young-Davidson Q1/16A Q2/16A Q3/16A Q4/16A 2016A 2016E Guidance Gold Production (k oz) 39.1 42.6 43.6 44.7 170.0 170-180 Cost of Sales1 (US$/oz) $1,058 $1,182 $1,032 - - $1,034 Total Cash Costs2 (US$/oz) $616 $738 $607 - - $600 Mine-site AISC2,3 (US$/oz) $846 $965 $849 - -
Slide 14: 2016 Operational Results – Mulatos
2016 Operational Results – Mulatos Q1/16A Q2/16A Q3/16A Q4/16A 2016A 2016E Guidance Gold Production (k oz) 37.6 33.0 38.5 44.9 154.0 140-150 Cost of Sales1 (US$/oz) $1,042 $1,030 $1,102 - - $1,097 Total Cash Costs2 (US$/oz) $811 $757 $888 - - $850 Mine-site AISC2,3 (US$/oz) $878 $883 $965 - - $925 C
Slide 15: 2016 Operational Results – El Chanate
2016 Operational Results – El Chanate Q1/16A Q2/16A Q3/16A Q4/16A 2016A 2016E Guidance Gold Production (k oz) 18.0 16.8 17.1 16.1 68.0 60-70 Cost of Sales1 (US$/oz) $1,247 $1,043 $1,151 - - $1,231 Total Cash Costs2 (US$/oz) $1,086 $907 $1,045 - - $1,100 Mine-site AISC2,3 (US$/oz) $1,095 $931 $1,062
Slide 16: 2016 – Strong Safety Performance
2016 – Strong Safety Performance Young-Davidson 1.3 million hours or 11 months without an LTI achieved in December 2016 El Chanate Mulatos 3+ million hours or >2 years 4 million hours without an LTI without an LTI achieved achieved in February 2016 16 December 2016
Slide 17: 2017 Guidance
2017 Guidance Jamie Porter - Chief Financial Officer Peter MacPhail - Chief Operating Officer 17
Slide 18: 2017 Guidance – Focus on Quality
2017 Guidance – Focus on Quality 2016A % Change Operating Mines (Guidance where indicated by 2017E Guidance Italics) (Based on midpoint) Gold Production (k oz) 392 400 – 430 6% Cost of Sales1 (US$/oz) $1,091 $1,065 -2% Total Cash Costs2 (US$/oz) - $765 - AISC2 (US$/oz) ~$1,000 $940 -6% Sustaining Ca
Slide 19: 2017 Guidance – Young-Davidson
2017 Guidance – Young-Davidson 2016A % Change (Guidance where indicated by 2017E Guidance Italics) (Based on midpoint) Gold Production (k oz) 170 200 – 210 21% Cost of Sales1 (US$/oz) $1,034 $1,050 2% Total Cash Costs2 (US$/oz) $600 $625 4% Mine-site AISC2,3 (US$/oz) $825 $775 -6% Underground throug
Slide 20: 2017 Guidance – Mulatos
2017 Guidance – Mulatos 2016A % Change (Guidance where indicated by 2017E Guidance (Based on midpoint) Italics) Gold Production (k oz) 154 150 – 160 1% Cost of Sales1 (US$/oz) $1,097 $1,015 -7% Total Cash Costs2 (US$/oz) $850 $815 -4% Mine-site AISC2,3 (US$/oz) $925 $890 -4% Throughput – Leach Pad (
Slide 21: 2017 Guidance – El Chanate
2017 Guidance – El Chanate 2016A (Guidance where indicated by 2017E % Change Italics) Gold Production (k oz) 68.0 50 – 60 -19% Cost of Sales1 (US$/oz) $1,231 $1,265 3% Total Cash Costs2 (US$/oz) $1,100 $1,200 9% Mine-site AISC2,3 (US$/oz) $1,100 $1,200 9% Total Throughput 18,500 16,500 -11% (Crushed
Slide 22: 2017 Guidance – Capital Budget
2017 Guidance – Capital Budget 2017 Guidance 2016 Guidance Sustaining Growth Capital Total Total % Change Capital Operating Mines (in millions) Young-Davidson $30 - $35 $40 - $45 $70 - $80 $85 - 95 -17% Mulatos1 $8 - $10 $25 - $30 $33 - $40 $25 - 35 22% El Chanate $2 - $2 $1 100% Total – Operating M
Slide 23: Mulatos – Overview
Mulatos – Overview Peter MacPhail - Chief Operating Officer 23
Slide 24: Mulatos – Key Facts
Mulatos – Key Facts Location: Sonora State, Mexico Ownership: 100% interest Stage: Producing Operation: Open pit, heap leach & high grade mill • Acquired for $10m in 2003 • Initial capex ~$70m; initial production 2005 • Produced millionth oz & billionth dollar of revenue in 2012 • Produced 1.65m oz
Slide 25: Mulatos – History
Mulatos – History 2014 • Added flotation circuit to gravity mill • Completed mining Escondida deposit • Began mining San Carlos UG deposit 2005 2008 • Acquired surface rights to Cerro 2010 2013 Began ROM stacking Conveyor stacking Pelon & La Yaqui Added scalping Reconfigured at Mulatos replaced truc
Slide 26: Mulatos Mine
Cerro Pelon Mulatos Mine East Estrella Estrella PdA El Salto/ PdA Mina Vieja Extension Escondida Gap El Victor April 2013 LEGEND Mineralized trends San Carlos +1 opt intercepts 26
Slide 27: Mulatos District
Mulatos District lM, ine TSX:AGI | NYSEAAGI B : 3'180,000 N [OSTIMURT wate Po —7+79 LA VIRUELA Au _——! ESCONDIDA au Pie) [CAE ZAS) = [CA CRUZ Au) V Gs Rayoiite. a 2 4s Gs oecte JULIANA Au! GE Andesite X ; [EGG conglomerates 2 + EL VICTOR Au EEE cmeciote : fi . Epithermal system, ZARAGOZA au! @ Gold
Slide 28: Mulatos – Heap Leach Drives Bulk of Production
Mulatos – Heap Leach Drives Bulk of Production 1.7m oz ~80% 5% NSR $60/oz Gold produced since current production Capped at 2m oz Decrease in costs post 2005 from heap leach pad cap at $1,200/oz Au 350,000 300,000 250,000 Contained ounces Au 200,000 150,000 100,000 50,000 0 2006 2007 2008 2009 2010 2
Slide 29: Heap Leach – Simplified Flow Sheet
Heap Leach – Simplified Flow Sheet • Typical drill, blast, load open pit mined to 9 metre benches • 4 stage crushing • Ore is agglomerated and conveyor-stacked on leach pads • Recovered in ADR plant (dore bars) 29
Slide 30: Crushing Circuit
Crushing Circuit ALAMOS GOLD INC. TSX:AGI | NYSE:AGI
Slide 31: Crushing Circuit Improvements
Crushing Circuit Improvements • Multiple improvements over the years have nearly doubled crusher throughput since 2006 • Budgeting record combined throughput of 18,900 tpd in 2017 • 18,500 tpd to leach pad • ~400 tpd from mill 19,000 18,000 17,000 16,000 Combined throughput (tpd) 15,000 14,000 13,00
Slide 32: Mulatos Recovery Ratio
Mulatos Recovery Ratio 120 69% Drum Recovery ratio from agglomeration Scalping plant commissioned 2009-2016 commenced 100 Stacking system installed Interlift liners 80 Addition of 4th stage crushing 60 40 20 0 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Jun-06 Jun-07
Slide 33: High-Grade Mill – Flow Sheet
High-Grade Mill – Flow Sheet PRIMARY CRUSHER SECONDARY CRUSHER REAGENT ADDITION VSI MILL TAILINGS THICKENER HP-100 FLASH UNDERGROUND KNELSON FLOTATION STOCKPILE FALCON VERTIMILL CLEANER DISK FILTER CONCENTRATE THICKENER • Transitioned to concentrate production • Higher recoveries and gold production
Slide 34: Mulatos – Historical Unit Costs
Mulatos – Historical Unit Costs 34
Slide 35: Mulatos – Margins Trending Higher
Mulatos – Margins Trending Higher Production (oz Au) Cost of Sales1 (US$/oz) $1,116 $1,097 150,000 - 160,000 $1,015 154,000 $914 140,500 140,330 2014A 2015A 2016A 2017E 2014A 2015A 2016E 2017E Mine-site AISC2,3 (US$/oz) AISC Margin2,3,4 (US$/oz) -15% +256% $1,047 $360 $346 $304 $917 $925 $890 $101 2
Slide 36: Mulatos – 2016 Operational improvements
Mulatos – 2016 Operational improvements Focused cost reductions Q3 YTD 2016 AISC tracking below annual guidance Declining cost profile Low cost production from La Yaqui & Cerro Pelon; 5% royalty nearing completion Higher mill production Transition to concentrate production generating higher recoveri
Slide 37: La Yaqui & Cerro Pelon – Low Cost Production Growth
La Yaqui & Cerro Pelon – Low Cost Production Growth Mulatos District 87% higher grade Combined reserve grade 1.56 g/t, 87% Mulatos mine above 2017 budget ~$400/oz La Yaqui Phase I 2017 total cash costs1, 51% lower than 2017 Mulatos budget Initial production H2-2017 Phase I development of La Yaqui on
Slide 38: La Yaqui – Phase I Overview
La Yaqui – Phase I Overview Andrew Cormier - VP Development & Construction Marcelo Alejandro Martinez Ochoa - La Yaqui & Cerro Pelon Project Manager 38
Slide 39: La Yaqui Phase I – Overview
La Yaqui Phase I – Overview Location: Sonora State, Mexico Ownership: 100% interest Stage: Development Operation: Conventional open pit, heap leach La Yaqui Grande • Contract mining & crushing will be employed • Will be developed with an independent: • Heap leach pad • Portable crushing circuit La Y
Slide 40: La Yaqui Phase I – Project Parameters
La Yaqui Phase I – Project Parameters Project Parameters – Highlights La Yaqui Phase I 2017 20142 Mineral reserve Tonnes 1,912,000 1,574,000 g/t Au 1.45 1.58 oz Au 89,000 79,800 Mine Life Years 3.5 3 Life of Mine Production oz Au 67,000 60,000 Average Annual Production oz Au 19,200 19,800 Total Ore
Slide 41: La Yaqui Phase I – Permitting Status
La Yaqui Phase I – Permitting Status Access Road to the Project: EIA, (MIA) Complete: • Submitted to SEMARNAT on February 8th • Positive resolution on May 9th CUS (Change of Land Use) Complete • Submitted on February 11th • Additional information requested on April 26th • Positive resolution was
Slide 42: La Yaqui – Project Location
La Yaqui – Project Location 42
Slide 43: La Yaqui – Project Location
La Yaqui – Project Location Mulatos Pit Airstrip Mulatos Heap Leach Facility Cerro Pelon Project Mulatos River La Yaqui Project 43
Slide 44: La Yaqui – Phase I Site Layout
La Yaqui – Phase I Site Layout MIA Limit CUS Limit Leach Pit Pad Crusher Ponds Process 44
Slide 45: La Yaqui Phase I – Flowsheet
La Yaqui Phase I – Flowsheet 45
Slide 46: La Yaqui Phase I – 2017 Plan
La Yaqui Phase I – 2017 Plan • Construction & Mining : • La Yaqui Phase I will be mined via conventional open pit methods utilizing traditional drill, blast, loading and hauling • Construplan will be the contractor employed at this operation • LA YAQUI – 6 Month Plan • The focus over the next months
Slide 47: La Yaqui – Phase I Development Schedule
La Yaqui – Phase I Development Schedule PROYECTO 2015 2016 2017 May May Mar Mar Nov Nov Nov Aug Aug Dec Dec Dec Sep Sep Sep Feb Apr Feb Apr Oct Oct Oct Jun Jun Jan Jan Jul Jul LA YAQUI PLANNING, DESIGN & ENGINEERING PROCESS DESIGN & ENGINEERING PERMITS & AUTHORIZATION Environmental Impact Assessment
Slide 48: La Yaqui – Aerial View from the Pit and the HLF
La Yaqui – Aerial View from the Pit and the HLF 48
Slide 49: HLF Construction Activities
HLF Construction Activities • Construction activities, earthworks and top soil transportation started in January • Clearing trees continues • Contractor's camp is already installed • Construction machinery on site, articulated trucks will arrive next week 49
Slide 50: La Yaqui Grande – 2017 Schedule Overview
La Yaqui Grande – 2017 Schedule Overview • MIA & CUS. • MIA Expansion Limit definition • Including “Bajíos,” “Halcon” & “La Dura” • Baseline Studies (MIA) • LYG Pre-Engineering Studies. La Yaqui Grande • Redefining the project design requirements based on the ongoing exploration data • Preliminary p
Slide 51: La Yaqui Grande – Golder Siting Study
La Yaqui Grande – Golder Siting Study 51
Slide 52: La Yaqui – Exploration Overview
La Yaqui – Exploration Overview Aoife McGrath – Vice President, Exploration Alina Gaibor – Exploration Manager, Mulatos Peter Dunkley – Regional Exploration Manager, Mexico52
Slide 53: La Yaqui
La Yaqui Oblique view looking North-West Resource area Reserve pit See mineral reserve and resource estimates and associated footnotes in appendix. 53
Slide 54: La Yaqui – 2007-2008 Drill Campaign
La Yaqui – 2007-2008 Drill Campaign Oblique view looking West Altn Sil AA Arg Massive Silica Advanced Argillic Argillic 54
Slide 55: La Yaqui – 2007-2008 Drill Campaign with Au Interpolants
La Yaqui – 2007-2008 Drill Campaign with Au Interpolants Oblique view looking West Altn Sil AA Arg +1.0 g/t Au +0.3 g/t Au 55
Slide 56: La Yaqui – 2015 Drill Campaign
La Yaqui – 2015 Drill Campaign Oblique view looking West Altn Sil AA Arg 56
Slide 57: La Yaqui – 2015 Drill Campaign with Au Interpolants
La Yaqui – 2015 Drill Campaign with Au Interpolants Oblique view looking West Altn Sil AA Arg +0.3 g/t Au +1.0 g/t Au 57
Slide 58: La Yaqui – 2016 Drill Campaign as of December 2016
La Yaqui – 2016 Drill Campaign as of December 2016 Oblique view Looking West Altn Sil AA Arg 58
Slide 59: La Yaqui – 2016 Drill Campaign with Au Interpolants
La Yaqui – 2016 Drill Campaign with Au Interpolants Oblique view looking West Altn Sil AA Arg +0.3 g/t Au +1.0 g/t Au 59
Slide 60: La Yaqui – Zone 1
La Yaqui – Zone 1 Plan view Altn Sil AA Arg A A1 60
Slide 61: La Yaqui – Zone 1
La Yaqui – Zone 1 Looking North Topography A A1 2016 pit shell +1.0 g/t Au +0.3 g/t Au 61
Slide 62: La Yaqui – Zone 2
La Yaqui – Zone 2 Plan view Altn Sil AA Arg A1 A 62
Slide 63: La Yaqui – Cross Section Zone 2, looking northwest
La Yaqui – Cross Section Zone 2, looking northwest Interpolants - 0.3g/t & 1g/t (for illustration only) A A1 Topo +1.0 g/t Au 2016 pit shell +0.3 g/t Au Actual 2016 YE Gradeshell – 0.3g/t only A A1 Topo N.B. Pit shell is based on mid- 2016 resource and requires +0.3 g/t Au 2016 pit shell updating 63
Slide 64: La Yaqui – Zone 3
La Yaqui – Zone 3 Plan view Altn Sil AA Arg A1 A 64
Slide 65: La Yaqui – Cross Section Zone 3, looking northwest
La Yaqui – Cross Section Zone 3, looking northwest Interpolants - 0.3g/t & 1g/t (for illustration only) A A1 Topo +1.0 g/t Au +0.3 g/t Au2016 YE Gradeshell – 0.3g/t only Actual A A1 Topo +0.3 g/t Au 65
Slide 66: La Yaqui Zones & Intercepts
La Yaqui Zones & Intercepts ZONE 3 INTERCEPTS 16YAQ204: 13m @ 6.91g/t Au (123 – 136m) 16YAQ203: 14m @ 2.46g/t Au (159 – 173m) 16YAQ198: 13m @ 2.69g/t Au (163– 176m) 16YAQ199: 17m @ 1.33g/t Au (141– 158m) Altn Sil AA Arg ZONE 2 INTERCEPTS 16YAQ196: 63m @ 3.27g/t Au (76 – 139m) 16YAQ180: 66m @ 2.51g/t
Slide 67: La Yaqui – 2016 Geophysical Survey Data
La Yaqui – 2016 Geophysical Survey Data Oblique view looking North-West 67
Slide 68: La Yaqui – Geophysical Data Zone 2
La Yaqui – Geophysical Data Zone 2 Plan view A1 A 68
Slide 69: La Yaqui – Geophysical Data Zone 2
La Yaqui – Geophysical Data Zone 2 Looking North-West A A1 Approximately 220 metres of untested alteration 69
Slide 70: La Yaqui – Geophysical Data Zone 3
La Yaqui – Geophysical Data Zone 3 Plan view A1 A 70
Slide 71: La Yaqui – Geophysical Data Zone 3
La Yaqui – Geophysical Data Zone 3 Looking North-West Preliminary drilling indicates mineralization extends beyond the current geophysical data limit 71
Slide 72: La Yaqui – Exploration Potential
La Yaqui – Exploration Potential Plan view Altn Sil AA Arg Steeply dipping zone 900m x 100m of untested favorable silica alteration 72
Slide 73: La Yaqui – Exploration Potential
La Yaqui – Exploration Potential Plan view Altn Sil AA Arg 400m x 200m untested area with favorable alteration 73
Slide 74: La Yaqui – Exploration Potential
La Yaqui – Exploration Potential Plan view Altn Sil AA Arg Zone 3 will be the focus for resource upgrade in 2017 74
Slide 75: La Yaqui – Exploration Potential
La Yaqui – Exploration Potential Plan view Altn The La Yaqui - El Halcon corridor has more Sil AA than 1,500 metres of untested silica Arg alteration 75
Slide 76: Questions?
Questions? Typical vuggy silica alteration found in La Yaqui 16YAQ081: 187m depth, 16YAQ033: 129m depth, 16YAQ033: 142m depth, 16YAQ088: 191.5m 4.57g/t 8.80g/t 12.10g/t depth, 2.38g/t See press release dated January 7, 2017 76
Slide 77: Cerro Pelon – Exploration Overview
Cerro Pelon – Exploration Overview 77
Slide 78: Mulatos Mine – Cerro Pelon
Mulatos Mine – Cerro Pelon Oblique view looking North East Reserve area Exploration potential 78
Slide 79: Cerro Pelon – 2008/2009 Drill Campaign
Cerro Pelon – 2008/2009 Drill Campaign Looking South West Topography 2009 pit shell 79
Slide 80: Cerro Pelon – 2008/2009 Drill Campaign with Au Interpolants
Cerro Pelon – 2008/2009 Drill Campaign with Au Interpolants Looking South West Topography A1 2009 pit shell A +1.0 g/t Au +0.3 g/t Au 80
Slide 81: Cerro Pelon – 2015 Drill Campaign
Cerro Pelon – 2015 Drill Campaign Looking South West Topography 2009 pit shell 81
Slide 82: Cerro Pelon – 2015 Drill Campaign with Au Interpolants
Cerro Pelon – 2015 Drill Campaign with Au Interpolants Looking South West Topography A1 2009 pit shell A +1.0 g/t Au +0.3 g/t Au 82
Slide 83: Cerro Pelon – 2016 Drill Campaign
Cerro Pelon – 2016 Drill Campaign Looking South West Topography 2009 pit shell 83
Slide 84: Cerro Pelon – 2016 Drill Campaign with Au Interpolants
Cerro Pelon – 2016 Drill Campaign with Au Interpolants Looking South West Topography A1 2009 pit shell A +1.0 g/t Au +0.3 g/t Au 84
Slide 85: Cerro Pelon – Exploration Potential
Cerro Pelon – Exploration Potential Plan View Altn Silica Cap Sil AA Arg V.Sil UA West Zone Resource extension potential Reserve Area 85
Slide 86: Cerro Pelon – Exploration Potential
Cerro Pelon – Exploration Potential Plan View Altn Sil AA Arg V.Sil UA Potential for continuation of resource mineralization to north - currently being tested Reserve Area 86
Slide 87: Cerro Pelon – Exploration Potential
Cerro Pelon – Exploration Potential Plan View Altn Sil AA Arg V.Sil UA Silica Cap – structures seen in reserve area may continue to north Reserve Area 87
Slide 88: Cerro Pelon – Exploration Potential
Cerro Pelon – Exploration Potential Plan View Altn Sil AA Arg V.Sil UA West Zone – favorable alteration, structures & sulphide mineralisation intersected in drilling Reserve Area 88
Slide 89: Cerro Pelon
™“ Cerro Pelon canoes Cana ise. TSX:AGI | NYSEAAGI Questions? 89
Slide 90: Mulatos – District Exploration Overview
Mulatos – District Exploration Overview 90
Slide 91: Mulatos District
Mulatos District World class high- sulphidation epithermal district Historical focus on Mulatos mine main Mulatos pit area mineral corridor Significant district- wide exploration potential New systematic exploration strategy Current focus on La Yaqui & Cerro Pelon Objective to create a pipeline of p
Slide 92: The Exploration Team
The Exploration Team Valuable skills, experience and knowledge of the District’s mineralization gained by the La Yaqui – Cerro Pelon exploration success Continued training and development of the local team is fundamental New purpose-built & well-equipped Exploration facilities (ongoing expansion) Sp
Slide 93: District-Scale Investigations
District-Scale Investigations Taking a District-wide perspective is essential Specialist studies being implemented: • Geological mapping – prospect and district scale • Radiometric dating • Structural investigations • Satellite image analysis • Mineralogical studies • Geochemical modelling • Geophys
Slide 94: Age of Mineralization
Age of Mineralization Mineralization East Mineralization in the Mulatos District was of San Carlos previously thought to have been restricted in time Victor - San Carlos On-going radiometric dating studies are Mulatos helping to provide a better understanding deposit La Yaqui – C. Pelon Mineralizati
Slide 95: District-wide Prospects – Los Bajios
District-wide Prospects – Los Bajios Mulatos mine mineral corridor Los Bajios Located 5km SW of Mulatos mine and 3km N of La Yaqui Excellent access 95
Slide 96: Los Bajios – Geology & Geochemistry
Los Bajios – Geology & Geochemistry Mulatos mine Similar stratigraphical position to Los Bajios mineralization at the Mulatos mine Abandoned artisanal workings High gold assays in surface samples (up to 27.8 g/t) Prospective geochemical signature in surface samples Good correlations in Au-Ag-Cu-Te-A
Slide 97: Los Bajios – Historical Drilling & Future Plans
Los Bajios – Historical Drilling & Future Plans From To Interval Au Hole GXM (m) (m) (m) g/t 06WB057 122.6 216.5 93.8 1.2 112.5 05WB036 151.6 182.9 31.3 2.8 89.1 05WB037 173.8 261.5 87.8 0.8 74.0 Drilled from 2004 – 07, with some good 05WB017 154.6 214.9 60.3 0.9 54.1 intersections 05WB017 259.2 365
Slide 98: El Refugio – Location
El Refugio – Location El Refugio Mulatos Mine Immediately NE of Puerto del Aire deposits Within 3-4 km of mine plant 98
Slide 99: El Refugio – Geological Setting
El Refugio – Geological Setting In similar stratigraphical position to San Carlos High-grade Au in quartz- barite veins Surface samples taken in 2014 returned up to 11.8 g/t Au Bladed-silica pseudomorphs after barite Likely structural control on barite veins (similar to high-grade veins at San Carlo
Slide 100: El Refugio – Geochemistry
El Refugio – Geochemistry 400m Oblique view looking East Puerto del Aire • Two 400m-long gold-in-soil geochemical anomalies outlined by (limited) sampling to date • Very strong soil geochemical response with up to 11.8 ppm Au in surface samples • Indicates structural control at this Upper Rhyolite L
Slide 101: El Carricito – Location
El Carricito – Location Approximately 19km Mulatos mine SW of the Mulatos mine Large area – 2,176 Ha Standalone project El Carricito Good road access 101
Slide 102: El Carricito – Google Earth Image Looking NE
El Carricito – Google Earth Image Looking NE 102
Slide 103: El Carricito – Summary
El Carricito – Summary Lava dome complex Extensive silica cap, similar to La Yaqui and Cerro Pelon Widespread Au geochemical anomalies in soil Drilled in 2009-12: Interesting intercepts but very poorly Looking ESE understood geologically High-grade intercepts in a large lower-grade halo Majority of
Slide 104: El Carricito – Soil Geochemistry
El Carricito – Soil Geochemistry Soil Geochemistry - Oblique view looking North East Strong soil geochemistry response on downslope zone, likely transported anomalies As at La Yaqui, massive silica cap masks geochemical response from below 104
Slide 105: El Carricito – Alteration
El Carricito – Alteration Alteration - Oblique view looking North East Features that are typical of high-sulphidation deposits Large epithermal system shown by the presence of extensive advanced argillic alteration with massive and vuggy silica Requires significantly more work for full assessment 10
Slide 106: El Carricito – Plan Future exploration
El Carricito – Plan Future exploration Previous drilling was based on poor geological understanding A systematic and more focused approach is required in the light of new understanding gained at La Yaqui and Cerro Pelon • Systematic mapping and sampling • Elucidation of the volcanic and structural a
Slide 107: El Halcon – Location
El Halcon – Location Immediately North Mulatos Mine and along strike from La Yaqui El Halcon Approximately 8km SW of the Mulatos mine 107
Slide 108: El Halcon – Google Earth Image Looking NE
El Halcon – Google Earth Image Looking NE Mulatos Mine El Halcon La Yaqui Resource La Yaqui Reserve 108
Slide 109: El Halcon – Historical Drilling
El Halcon – Historical Drilling HOLE_ID From (m) TO (m) Interval (m) Au g/t GXM 08HY061 117.4 122.0 4.6 3.2 14.5 10HY070 61.6 67.7 6.1 3.7 22.7 Originally drilled by Placer Dome in 1995 61.6 62.6 1.0 5.9 5.9 43.5 46.5 3.0 5.0 14.9 10HY072 43.5 44.5 1.0 5.6 5.6 Alamos drilled 15 holes (2,400m) in 77.
Slide 110: El Halcon – Historical Drilling
El Halcon – Historical Drilling Using a 2.5g/t Au cut-off 110
Slide 111: El Halcon – Cross Section
El Halcon – Cross Section 97HY024DDH 3.0m@3.925 g/t 97HY047DDH 4.0m@5.131g/t 97HY040DDH 2.0m@7.105g/t 8.0m@8.640 g/t 6.7m@10.226 g/t 97HY073RC 3.1m@5.277 g/t 1.5m@7.021 g/t 7.6m@12.133 g/t 4.6m@17.928g/t 97HY043DDH 1.0m@8.288 g/t 97HY072DDH 97HY046DDH 3.0m@4.977g/t 1.0m@5.853 g/t 1.0m@5.630g/t Cut-o
Slide 112: El Jaspe – Location
El Jaspe – Location El Jaspe Approximately Mulatos Mine 8km NW of the Mulatos mine Easily accessible from main road to the mine Cerro Pelon 112
Slide 113: El Jaspe – Google Earth Image Looking NNE
El Jaspe – Google Earth Image Looking NNE Massive silica cap similar to La Yaqui – masks geochemical response Silica Cap Limited preliminary drilling campaign in 2005 Mineralized intercepts over 1,200m of strike Requires detailed mapping and sampling followed by geophysics to ‘see through’ the silic
Slide 114: El Jaspe – Historical Drilling & Plan
El Jaspe – Historical Drilling & Plan Hole From (m) To (m) Interval (m) Au g/t GXM 05JP032 170.73 214.94 44.2 0.9 39.78 05JP021 25.91 83.17 57.3 0.6 34.38 Q4 2016 – Q1 2017: Surface mapping 05JP004 9.15 55.72 46.6 0.6 27.96 and sampling 05JP006 22.87 87.73 64.9 0.4 25.96 05JP030 73.17 128.91 55.7 0.
Slide 115: Las Carboneras – Location
Las Carboneras – Location Mulatos Mine Approximately 3 km South of Mulatos mine Las Adjacent to Cerro Carboneras Pelon Land parcel Cerro Pelon owned by Alamos 115
Slide 116: Las Carboneras – Google Earth Image Looking N
Las Carboneras – Google Earth Image Looking N Mulatos Mine Cerro Pelon Las Carboneras Artisanal mining on the property historically Massive silica cap – similar to La Yaqui 116
Slide 117: Las Carboneras – Soil Geochemistry
Las Carboneras – Soil Geochemistry Oblique view looking North Soil geochemical survey completed in 2010 - Au anomalies yet to be followed up 117
Slide 118: Summary of District Prospects
Summary of District Prospects Los Bajios – very close to mine, good access, interesting historical drilling results – mapping is almost completed, geophysical survey completed in December 2016, start of drilling scheduled to start H1 2017 El Refugio – close to the Mulatos mine, evidence of structura
Slide 119: Questions?
5 ™ Questions? ALAMOS GOLD INC. TSX:AGI | NYSE:AGI -The Christian Soteree) 119
Slide 120: Appendices
Appendices 120
Slide 121: Strong Balance Sheet
Strong Balance Sheet Balance Sheet Cash & Cash Eq.1,2 US$287 million Working Capital1 US$368 million Total Debt1 US$315 million $315 m Capital Structure $287 m Shares Outstanding 267.0 million Warrants 11.8 million Employee Options 9.6 million Cash 2 Total Debt Fully Diluted 290.0 million As of Sept
Slide 122: Best In Class Portfolio of Assets
Best In Class Portfolio of Assets Diversified production Low-cost growth Safe jurisdictions LYNN LAKE YOUNG-DAVIDSON Stage Feasibility 2017E Au Production 200-210k oz Est. Annual Production 145k oz 2017E Au Total Cash Costs US$625/oz Consensus NPV Est. Total Cash Costs C$530/oz 2P Au Reserves 3.9m o
Slide 123: 2015 Proven and Probable Mineral Reserves
2015 Proven and Probable Mineral Reserves PROVEN AND PROBABLE MINERAL RESERVES AS AT DECEMBER 31, 2015 PROVEN PROBABLE PROVEN + PROBABLE TONNES GRADE CONTAINED TONNES GRADE CONTAINED TONNES GRADE CONTAINED OUNCES OUNCES OUNCES (000) (G/T AU) (000) (G/T AU) (000) (G/T AU) (000) (000) (000) Young-Davi
Slide 124: 2015 Total Measured and Indicated Mineral Resources
2015 Total Measured and Indicated Mineral Resources MEASURED AND INDICATED GOLD MINERAL RESOURCES (AS AT DECEMBER 31, 2015) 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
Slide 125: 2015 Total Inferred Mineral Resources
2015 Total Inferred Mineral Resources INFERRED GOLD MINERAL RESOURCES (AS AT DECEMBER 31, 2015) TONNES GRADE OUNCES (000'S) (G/T AU) (000'S) Young-Davidson - Surface 31 0.99 1 Young-Davidson - Underground 3,523 2.76 312 Total Young-Davidson 3,554 2.74 313 Mulatos 7,078 0.90 205 San Carlos UG 162 4.9
Slide 126: 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
Slide 127: Scott K. Parsons, CFA
Scott K. Parsons, CFA VP, Investor Relations 416.368.9932 x 5439 sparsons@alamosgold.com 127