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Alamos Gold Announces Sale of Non-Core Royalties

Press Release

TORONTO, Dec. 22, 2022 — Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today announced that it has entered into an agreement to sell a portfolio of non-core royalties to Metalla Royalty & Streaming Ltd. (“Metalla”) (TSXV:MTA; NYSE American:MTA) for proceeds of USD$5.0 million in Metalla common shares.

The portfolio being sold consists of three royalties and one silver stream, all of which are on assets not owned by Alamos. This includes a silver stream on the Esperanza project in Morelos, Mexico which was sold in April 2022, and royalties on the Fenn Gib South, Ronda, and Northshore West exploration stage projects located in Ontario, Canada.

As consideration for the portfolio of royalties, Alamos will be receiving 939,355 Metalla common shares, valued at USD$5.0 million, or US$5.3228 per common share, based on the 20-day volume weighted average price preceding the agreement. Following completion of the transaction, Alamos will own approximately 1.9% of Metalla’s issued and outstanding common shares.

The sale is consistent with Alamos’ strategy of monetizing and maximizing the value of its non-core assets while focusing on advancing its strong portfolio of high-return growth projects. With the monetization of the royalties, Alamos has surfaced nearly $100 million in total consideration over the past two years through the sale of non-core assets and gains on the sale of equity securities in other companies.

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 strong portfolio of growth projects, including the Phase 3+ Expansion at Island Gold, and the Lynn Lake project in Manitoba, Canada. Alamos employs more than 1,900 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

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

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