Alamos Gold Reports Mineral Reserves and Resources for the Year-Ended 2024

Core Insights - Alamos Gold Inc. reported a significant 31% increase in global Proven and Probable Mineral Reserves to 14.0 million ounces of gold as of December 31, 2024, driven by the acquisition of the Magino mine and continued high-grade additions at Island Gold [4][7][32] - The company has experienced six consecutive years of growth in Mineral Reserves, with a notable increase in grades at Island Gold, which will support future mine planning and expansion studies [3][9][31] Mineral Reserves - Global Proven and Probable Mineral Reserves increased to 14.0 million ounces, reflecting a 31% rise from 10.7 million ounces at the end of 2023, primarily due to the addition of Magino and high-grade additions at Island Gold [4][7][8] - Excluding Magino, Proven and Probable Reserves increased by 12% to 11.9 million ounces, with a replacement rate of 249% for depletion [4][8] - Island Gold's Mineral Reserves rose 32% to 2.3 million ounces, with grades increasing by 11% to 11.40 g/t Au [4][9][20] Mineral Resources - Global Measured and Indicated Mineral Resources increased by 50% to 6.6 million ounces, primarily due to the acquisition of Magino [15][16] - Excluding Magino, Measured and Indicated Mineral Resources rose 6% to 4.7 million ounces, reflecting successful exploration at Burnt Timber and Linkwood [15][16] - Global Inferred Mineral Resources decreased by 2% to 7.1 million ounces, with grades remaining stable at 1.76 g/t Au [16] Exploration and Future Plans - The company has allocated a record exploration budget of $72 million for 2025, focusing on expanding mineralization across its asset base, particularly at Island Gold and the Qiqavik project [4][15] - A total of 41,500 meters of underground drilling is planned for 2025, targeting new Mineral Reserves and Resources near existing production [25][26] - The updated Island Gold District mine plan and Expansion Study are expected to be released in mid-2025, incorporating significant growth in grades and reserves [31][32] Specific Project Updates - Magino's Mineral Reserve is estimated at 2.0 million ounces with a grade of 0.91 g/t Au, reflecting a decrease from the previous owner's estimate due to more conservative assumptions [10][32] - The Lynn Lake District saw a 42% increase in Mineral Reserves to 3.3 million ounces, driven by successful conversions at Burnt Timber and Linkwood [11][50] - The Mulatos District experienced a slight decrease in Mineral Reserves to 1.4 million ounces, with ongoing exploration success at the PDA deposit [12][38]