Alamos Gold Inc(pre-merger) T.AGI

Provides Exploration Update for the Lynn Lake Project

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TORONTO, Dec. 16, 2021 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today reported new results from its ongoing exploration program on the Lynn Lake Project in Manitoba, Canada.

• New greenfields discovery (Tulune target): broad zones of shallow gold mineralization intersected between the Gordon and MacLellan deposits which were the basis for the positive 2017 Feasibility Study. All 17 holes drilled to date in this new target have intersected gold mineralization. New highlights include1:
  • 1.22 g/t Au over 47.25 m (20LLX010);
  • 0.50 g/t Au over 63.00 m, and 0.82 g/t over 29.00 m (21LLX019);
  • 1.43 g/t Au over 16.40 m (21LLX017);
  • 0.52 g/t Au over 41.80 m (21LLX020);
  • 0.83 g/t Au over 17.90 m (21LLX016);
  • 1.05 g/t Au over 12.75 m (21LLX026); and
  • 0.53 g/t Au over 25.87 m (20LLX009), including;
    • 20.20 g/t Au over 0.47m.

1Gold grades are reported as uncut, composite intervals reported as core length, true width is unknown at this time.

• Gordon deposit: high-grade mineralization intersected in the southeast portion of the Mineral Reserve pit in an area currently modelled as waste. This includes high-grade gold mineralization intersected in a series of narrow quartz veins within a diorite intrusion. High-grade near-surface gold mineralization was also intersected along the diorite-banded iron formation contact at the eastern extent of the Mineral Reserve pit (21GDX074). New highlights include2:  
  • 28.36 g/t Au (7.77 g/t cut) over 10.40 m (21GDX054), including;
    • 302.00 g/t Au (40 g/t cut) over 0.24 m;
    • 372.00 g/t Au (40 g/t cut) over 0.21 m;
    • 176.00 g/t Au (40 g/t cut) over 0.24 m;
    • 96.20 g/t Au (40 g/t cut) over 0.70 m; and
    • 73.30 g/t Au (40 g/t cut) over 0.23 m;
  • 67.64 g/t Au (4.38 g/t cut) over 5.04 m (21GDX052), including;
    • 1,105.00 g/t Au (40 g/t cut) over 0.30 m;
  • 7.42 g/t Au (4.73 g/t cut) over 7.20 m (21GDX074), including;
    • 35.07 g/t Au (17.34 g/t cut) over 1.07 m; and
  • 1.49 g/t Au (1.49 g/t cut) over 20.53 m (21GDX042).

• MacLellan deposit: extended gold mineralization 45 m down-plunge from existing Mineral Reserves in the northeastern portion of the Mineral Reserve pit. This follows multiple higher-grade intercepts from the 2019 and 2020 drill program within a steeply plunging ore shoot that remains open down-plunge (11.49 g/t Au (8.98 g/t cut) over 14.93 m true width (19MCX037), 3.24 g/t Au (3.24 g/t cut) over 23.13 m true width (19MCX028), and 2.84 g/t Au (2.84 g/t cut) over 20.02 m true width (20MCX044)). New highlights include2:
  • 1.81 g/t Au over 17.44 m (21MCX081).

• Burnt Timber deposit: infill drilling in support of developing a geological model highlights the potential for higher-grade Mineral Resources at the Burnt Timber deposit. Burnt Timber was not included in the 2017 Feasibility Study and represents potential upside. New highlights include2:
  • 2.51 g/t Au over 16.45 m and 1.63 g/t Au over 15.54 m (21BTX045);
  • 3.11 g/t Au over 9.36 m (21BTX044); and
  • 1.06 g/t Au over 15.99 m (21BTX047).

2Drillhole composite intervals reported as “cut” include higher grade samples which have been cut to 40 g/t Au at the Gordon and Burnt Timber deposits and 45 g/t Au at the MacLellan deposit. All composite lengths are reported as true width.

“Since completing the Feasibility Study on the Gordon and MacLellan deposits in 2017, Mineral Reserves have increased 27% to 2.1 million ounces of gold. Our ongoing exploration success demonstrates the potential for further Mineral Reserve and Resource growth at both deposits as well as regionally across the prospective and underexplored Lynn Lake greenstone belt. This includes the discovery at Tulune, a new target located between Gordon and MacLellan, where every hole drilled to date has intersected gold mineralization. Tulune, a strong pipeline of other regional targets, and the large Mineral Resource at Burnt Timber and Linkwood, all highlight the significant potential within the district and upside beyond what was outlined in the Feasibility Study” said John A. McCluskey, President and Chief Executive Officer.

https://www.globenewswire.com/news-release/2021/12/16/2353449/0/en/Alamos-Gold-Provides-Exploration-Update-for-the-Lynn-Lake-Project-Manitoba-Including-a-New-Greenfields-Discovery.html

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Figure 1: Lynn Lake Project is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/571610d1-9484-4f77-a022-64f66df1b5cc Figure 2: Lynn Lake – Tulune Target Area – Drillhole Plan Map is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/19ad39bd-5854-4e4c-8cf7-2b1223f56a8e Figure 3: Lynn Lake – Gordon Deposit – Drillhole Plan and Cross Section