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Alamos Gold Announces Initial 30% Reduction Target in Greenhouse Gas (“GHG”) Emissions by 2030

Press Release

All amounts are in United States dollars, unless otherwise stated.

TORONTO, June 13, 2022 — Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) is pleased to announce its Company target of a 30% reduction in absolute GHG emissions by 2030 from the 2020/2021 average baseline year. This target includes scope 1 and scope 2 GHG emissions, inclusive of all GHG emissions covered by the Kyoto Protocol1. This is a significant milestone in Alamos’ sustainability journey and considered a credible target2 by definition of the Carbon Disclosure Project (“CDP”).

Alamos is already an industry leader in GHG emission intensity with an average of 0.38 tCO2e per ounce of gold produced across its three operating mines (base year 2020/2021), 43% lower than the mining industry average of 0.67 tCO2e per ounce of gold.

A chart accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/838ec66d-d8d7-4196-9e99-6b9308abadd1

Ref. S&P Global Market Intelligence, ‘Greenhouse gas and gold mines – Emissions intensities unaffected by lockdowns’, https://www.spglobal.com/marketintelligence/en/news-insights/blog/greenhouse-gas-and-gold-mines-emissions-intensities-unaffected-by-lockdowns

1 Greenhouse gases include carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), perfluorocarbons (PFCs), hydrofluorocarbons (HFCs), and sulfur hexafluoride (SF6)
2 Covering at least 70% of emissions set between 5-15 years, or have been validated by SBTi (Science Based Targets initiative)

The 30% absolute reduction in GHG emissions will decrease Alamos’ emission intensity by 55%. This includes the development of the Lynn Lake project, which is expected to begin producing within the target period.

As part of the Company’s emission reduction strategy, Alamos developed an Energy and Greenhouse Gas ManagementStandard in support of its Sustainability Performance Management Framework. This included completing Energy and Carbon Management System assessments at its operating sites to develop a baseline for its existing Energy Management programs. Alamos reviewed and costed over 30 different GHG emission reduction opportunities across the organization and utilized a Marginal Abatement Cost Curve to prioritize the projects that will support the achievement of its emission reduction target.

Options investigated included renewable energy and clean grid capacity, green fleet (hybrid or battery electric vehicles), electrification of process, and conversion to cleaner fuels. Electric conveyance systems were installed during the lower mine expansion at the Young-Davidson Mine reducing the Company’s reliance on diesel consumption and the Company is working to connect to grid power at the Mulatos Mine to offset diesel power generation. The Company is also considering increasing use of biodiesel vs. conventional diesel at all operations, and replacing propane with compressed natural gas for mine-air heaters at underground operations.

The Company’s target to reduce GHG emissions is in support of Canada’s Paris Accord Commitment and the World Gold Council’s (WGC) commitment for members to adopt the recommendations of the Task Force on Climate-Related Financial Disclosure (TCFD).

Alamos’ GHG emission information can be found within its Annual ESG reports which are available on the Company’s website at www.alamosgold.com. Scope 3 emissions are currently estimated by Alamos and will be considered as part of our reduction strategy in the near future. No offsets are included in emission projection calculations. Alamos is committed to producing a Climate Change report aligned with the TCFD disclosure recommendations, which will outline how the Company intends to achieve its 2030 goal to reduce absolute emissions by 30% from a 2020/2021 average baseline year.

About Alamos

Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos mine in Sonora State, Mexico. Additionally, the Company has a significant portfolio of development stage projects in Canada, Mexico, Turkey, and the United States. Alamos employs more than 1,700 people and is committed to the highest standards of sustainable development. The Company’s shares are traded on the TSX and NYSE under the symbol “AGI”.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Scott K. Parsons
Vice President, Investor Relations
(416) 368-9932 x 5439

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