Alamos Gold Inc. has agreed to sell its Turkish subsidiary for $470 million to Tümad Madencilik Sanayi ve Ticaret A.Ş. The purchase price will be paid in three installments over two years, securing the full amount. CEO John A. McCluskey plans to use the proceeds to develop growth projects in North America and reduce debt. The transaction is expected to close in the fourth quarter of 2025, pending regulatory approval in Türkiye. Arbitration proceedings against the Republic of Türkiye under the Netherlands-Türkiye Bilateral Investment Treaty will be suspended and discontinued after certain milestones are met.

Alamos is a Canadian gold producer with operations in North America and a strong portfolio of growth projects. The company employs over 2,400 people and is committed to sustainable development. For more information, contact Scott K. Parsons or Khalid Elhaj. Forward-looking statements caution that actual results may differ from projections due to various uncertainties and risks, including delays in project expansions and changes in accessing deposits.

Read more at GlobeNewswire: Alamos Gold Announces the Sale of its Turkish Development