From GlobeNewswire:

Alamos Gold Inc. reported a 2% increase in its global Proven and Probable Mineral Reserves to 10.7 million ounces of gold as of December 31, 2023. Island Gold’s Mineral Reserves increased by 18% to 1.7 million ounces, marking the 11th consecutive year of growth. PDA and Lynn Lake also saw substantial growth in Mineral Reserves.

The company also announced a 12% increase in its global Measured and Indicated Mineral Resources, totaling 4.4 million ounces of gold, with grades increasing by 9%. Inferred Mineral Resources increased by 3% to 7.3 million ounces, with grades increasing by 1%, showing significant growth at Island Gold and Lynn Lake.

Alamos Gold Inc. has maintained its gold price assumptions from 2022, with $1,400 per ounce used for estimating Mineral Reserves and $1,600 per ounce used for estimating Mineral Resources.

The company plans to allocate a global exploration budget of $62 million in 2024, the largest in its history, with the primary focus on Island Gold and Mulatos. President and CEO, John A. McCluskey, expressed excitement for the potential growth at both assets and across the company’s asset base.

Island Gold’s significant growth continued in 2023, with Mineral Reserves and Resources increasing by 16% to 6.1 million ounces, driven by higher-grade additions and exploration success. This marks the eighth consecutive year of growth in Mineral Reserves and Resources at Island Gold.

With Mineral Reserves increasing by 18% to 1.7 million ounces at Island Gold and the discovery of new Mineral Reserves, Island Gold continues to establish itself as one of the highest-grade and fastest-growing deposits in the world. The company’s long-term trend of growth is expected to continue given its large and growing Mineral Resource base.

Alamos Gold Inc. reported a 2% increase in its global Proven and Probable Mineral Reserves to 10.7 million ounces of gold as of December 31, 2023, reflecting increases at Island Gold, Lynn Lake and PDA. Island Gold’s Mineral Reserves continued to grow with an 18% increase to 1.7 million ounces, marking the 11th consecutive year of growth. PDA and Lynn Lake also saw significant growth.



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