This document provides a December 2017 corporate presentation for Alamos Gold Inc. It includes cautionary notes regarding forward-looking statements and non-GAAP measures. The presentation outlines Alamos Gold's diversified gold production profile from four North American mines, expanding margins through cost reductions, and peer-leading growth portfolio with six development projects. Key highlights include stable annual production of around 500,000 ounces, all-in sustaining costs of $940/ounce in 2017, and a strong balance sheet with $239 million in cash and no debt.

1. December 2017 Corporate Presentation

2. 2
Cautionary Notes
This presentation, the information contained herein, any other materials provided in connection with this presentation and any oral remarks accompanying this presentation (collectively, this “Presentation”) has been prepared by Alamos Gold Inc. (“Alamos”) solely
for information purposes. No Stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein. This presentation does not constitute an offering of securities and the information contained herein is
subject to the information contained in the Company’s continuous disclosure documents at www.sedar.com.
Cautionary Notes
Certain statements in this presentation are “forward-looking statements”, including within the meaning of applicable laws. All statements other than statements of historical fact included in this presentation, including, without limitation, statements Alamos’ net asset
value, operating cash flow, free cash flow, forecast gold production, reserves, resources, exploration potential, gold grades, recoveries, waste-to-ore ratios, total cash cost, all-in sustaining costs, debt levels and future plans and objectives of Alamos are forward-looking
statements based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management that involve various risks and uncertainties. Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”,
“estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might”, or “will” be taken, occur or be achieved) are not statements of historical fact and may be “forward-looking statements.” Alamos cautions that forward-looking
information involves known and unknown risks, uncertainties and other factors that may cause Alamos’ actual results, performance or achievements to be materially different from those expressed or implied by such information, including, but not limited to, gold and
silver price volatility; fluctuations in foreign exchange rates and interest rates; the impact of any hedging activities; discrepancies between actual and estimated production, between actual and estimated reserves and resources or between actual and estimated
metallurgical recoveries; costs of production; capital expenditure requirements; the costs and timing of construction and development of new deposits; and the success of exploration and permitting activities. In addition, the factors described or referred to in the
section entitled “Risk Factors” in Alamos’ Annual Information Form for the year ended December 31, 2016, which is available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this presentation. Although
Alamos has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking information, there can be other factors that cause results, performance or achievements
not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should
not place undue reliance on forward-looking information.
Market data and other statistical information used throughout this Presentation are based on internal company research, independent industry publications, government publications, reports by market research firms or their published independent sources. Industry
publications, governmental publications, market research surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable. Although Alamos believes such information is accurate and reliable, it has
not independently verified any of the data from third party sources cited or used for our management’s industry estimates, nor has Alamos ascertained the underlying economic assumptions relied upon therein. While Alamos believes internal company estimates are
reliable, such estimates have not been verified by any independent sources, and Alamos makes no representations as to the accuracy of such estimates.
Note to U.S. Investors
Alamos prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to mineral resources in this presentation are defined in accordance with National
Instrument 43 101 Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Unites States Securities and Exchange Commission
(the “SEC”) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Alamos may use certain terms, such as “measured mineral resources”, “indicated mineral
resources”, “inferred mineral resources” and “probable mineral reserves” that the SEC does not recognize (these terms may be used in this presentation and are included in the public filings of Alamos, which have been filed with the SEC and the securities
commissions or similar authorities in Canada).
Cautionary non-GAAP Measures and Additional GAAP Measures
Note that for purposes of this section, GAAP refers to IFRS. The Company believes that investors use certain non-GAAP and additional GAAP measures as indicators to assess gold mining companies. They are intended to provide additional information and should not
be considered in isolation or as a substitute for measures of performance prepared with GAAP.
“Cash flow from operating activities before changes in non-cash working capital” is a non-GAAP performance measure that could provide an indication of the Company’s ability to generate cash flows from operations, and is calculated by adding back the change in
non-cash working capital to “Cash provided by (used in) operating activities” as presented on the Company’s consolidated statements of cash flows. “Free cash flow” is a non-GAAP performance measure that is calculated as cash flows from operations net of cash
flows invested in mineral property, plant and equipment and exploration and evaluation assets as presented on the Company’s consolidated statements of cash flows and that would provide an indication of the Company’s ability to generate cash flows from its
mineral projects. “Mine site free cash flow” is a non-GAAP measure which includes cash flow from operating activities at, less capital expenditures at each mine site. Return on Equity is defined as Earnings from Continuing Operations divided by the average Total
Equity for the current and previous year. “Mining cost per tonne of ore” and “Cost per tonne of ore” are non-GAAP performance measures that could provide an indication of the mining and processing efficiency and effectiveness of the mine. These measures are
calculated by dividing the relevant mining and processing costs and total costs by the tonnes of ore processed in the period. “Cost per tonne of ore” is usually affected by operating efficiencies and waste-to-ore ratios in the period. “Total cash costs per ounce”, “all-in
sustaining costs per ounce”, and “mine-site all-in sustaining costs” as used in this analysis are non-GAAP terms typically used by gold mining companies to assess the level of gross margin available to the Company by subtracting these costs from the unit price realized
during the period. These non-GAAP terms are also used to assess the ability of a mining company to generate cash flow from operations. There may be some variation in the method of computation of these metrics as determined by the Company compared with
other mining companies. In this context, “total cash costs” reflects mining and processing costs allocated from in-process and dore inventory associated and associated royalties with ounces of gold sold in the period. Total cash costs per ounce are exclusive of
exploration costs. “All-in sustaining costs per ounce” include total cash costs, exploration, corporate and administrative, share based compensation and sustaining capital costs. “Mine-site all-in sustaining costs” include total cash costs, exploration, and sustaining
capital costs for the mine-site, but exclude an allocation of corporate and administrative and share based compensation.
Additional GAAP measures that are presented on the face of the Company’s consolidated statements of comprehensive income and are not meant to be a substitute for other subtotals or totals presented in accordance with IFRS, but rather should be evaluated in
conjunction with such IFRS measures. This includes “Earnings from operations”, which is intended to provide an indication of the Company’s operating performance, and represents the amount of earnings before net finance income/expense, foreign exchange
gain/loss, other income/loss, and income tax expense. Non-GAAP and additional GAAP measures do not have a standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures presented by other companies. A reconciliation of
historical non-GAAP and additional GAAP measures are available at www.alamosgold.com.
Technical Information
Chris Bostwick, FAusIMM, Alamos Gold’s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this presentation. Chris Bostwick is a Qualified Person within the meaning of Canadian Securities
Administrator’s National Instrument 43-101 (“NI 43-101”). The Qualified Persons for the National Instrument 43-101 compliant mineral reserve and resource estimates are detailed in the tables in the appendix of this presentation.
All figures in US$ unless otherwise indicated.

3. 3
1 2017E AISC guidance excludes Island Gold mine
2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
3 Includes cash, cash equivalents and equity securities of Alamos Gold and Richmont Mines as of September 30, 2017. Total liquidity also includes undrawn $400m credit facility.
Strong Platform for Delivering Long Term Value
Diversified gold production
~500,000 oz from
four North American mines
Expanding margins
$940/oz AISC,
7% improvement from 20161,2
Peer leading growth
Portfolio of 6 low-cost
development projects
Strong balance sheet
Debt free, $239m cash3 & $639m
total liquidity to support growth
Track record of
delivering
shareholder value

4. 4
2015A 2016A 2017E 2018E
$1,091
$1,010
$940
2015A 2016A 2017E
$1,241
$1,103
$1,065
2015A 2016A 2017E
Growing Production, Declining Costs, Expanding Margins
Gold Production1 (000 oz)
AISC1,2,3 (US$/oz)
-14%
Cost of Sales1,4 (US$/oz)
1 2017E guidance excludes Island Gold Mine with the acquisition closing on November 23, 2017.
2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
3 Total consolidated all-in sustaining costs include corporate and administrative and share based compensation expenses.
4 Cost of sales includes mining and processing costs, royalties and amortization.
5 AISC Margin calculated as realized gold price less AISC. For 2017E this assumes a $1,250/oz gold price
$57
$229
$310
2015A 2016A 2017E
+35%
AISC Margin1,2,5 (US$/oz)
-14%
392
~500
+28%
380
400 – 430

5. 5
AĞI DAĞI (TURKEY)
Stage Permitting
2P Au Reserves 1.2 Moz (54.4 mt @ 0.67 g/t)
Total Au M&I Resources 0.5 Moz (34.9 mt @ 0.46 g/t)
Total Au Inf. Resources 0.2 Moz (16.8mt @ 0.46 g/t)
KIRAZLI (TURKEY)
Stage Permitting
2P Au Reserves 0.7 Moz (26.1mt @ 0.79 g/t)
Total Au M&I Resources 0.1 Moz (6.0mt @ 0.43 g/t)
Total Au Inf. Resources 0.1 Moz (5.7mt @ 0.59 g/t)
ÇAMYURT (TURKEY)
Stage Resource Dev.
Total Au M&I Resources 0.5 Moz (17.7mt @ 0.89 g/t)
Total Au Inf. Resources 0.1 Moz (2.8mt @0.95 g/t)
Top 10 North American Gold Producer
MULATOS (SONORA, MEXICO)
2017E Au Production 150-160 koz
2017E Au Total Cash Costs US$815/oz
2P Au Reserves 1.9 Moz (50.0mt @ 1.17 g/t)
Total Au M&I Resources 2.8 Moz (76.1mt @ 1.14 g/t)
Total Au Inf. Resources 0.3 Moz (10.3mt @ 0.98 g/t)
EL CHANATE (SONORA, MEXICO)
2017E Au Production 50-60 koz
2017E Au Total Cash Costs US$1,200/oz
2P Au Reserves 0.3 Moz (10.8mt @ 0.56g/t)
Total Au M&I Resources 0.1 Moz (4.4mt @ 0.66 g/t)
YOUNG-DAVIDSON (ONTARIO, CANADA)
2017E Au Production 200-210 koz
2017E Au Total Cash Costs US$625/oz
2P Au Reserves 3.7 Moz (43.2mt @ 2.65 g/t)
Total Au M&I Resources 1.2 Moz (12.5mt @ 3.09 g/t)
Total Au Inf. Resources 0.3 Moz (3.6mt @ 2.75g/t)
Producing Assets
Exploration / Development Assets
1 Source: Select street research
Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
Note: Mineral resources are exclusive of mineral reserves. See mineral reserve and resource estimates and associated footnotes in appendix.
ISLAND GOLD (ONTARIO, CANADA)
2017E Au Production 87-93 koz
2017E Au Total Cash Costs US$550-590/oz
2P Au Reserves 0.8 Moz (2.5mt @ 9.17 g/t)
Total Au M&I Resources 0.1 Moz (0.5mt @ 5.94 g/t)
Total Au Inf. Resources 1.0 Moz (3.0mt @ 10.18 g/t)
QUARTZ MOUNTAIN (OREGON, USA)
Stage Advanced Exploration
Total Au M&I Resources 0.3 Moz (12.2mt @ 0.87 g/t)
Total Au Inf. Resources 1.1 Moz (39.2mt @0.91 g/t)
ESPERANZA (MORELOS, MEXICO)
Stage Permitting
Total Au M&I Resources 1.1 Moz (34.4mt @ 0.98 g/t)
LYNN LAKE (MANITOBA, CANADA)
Stage Feasibility
Total Au M&I Resources 2.6 Moz (40.3mt @ 2.03 g/t)
Total Au Inf. Resources 2.1 Moz (50.7mt @ 1.28 g/t)
Asset NPV by Geography1
Asset NPV by Stage1
Canada
57%
Mexico
23%
Turkey
20%
Production
72%
Development
28%

6. 6
Kirazlı
Ağı Dağı
Çamyurt
Lynn Lake
Permitting &
Development
Young-Davidson
Peer Leading Growth Profile
Island Gold
Mulatos
El Chanate
Mulatos District
Island Gold
Esperanza
Quartz Mountain
~500 koz
Stable, long-term
annual production base
>400 koz
Combined annual
production growth
potential
North
American
Production
Ongoing
Exploration
Controlled, disciplined, multi-stage growth

7. 7
$315m
High yield notes retired in April 2017
Strong Balance Sheet – Debt Free
1 Unaudited management estimate as of September 30, 2017.
2 Cash, cash equivalents & equity securities for Alamos Gold and Richmont Mines as of September 30, 2017.
3 Total liquidity includes cash, cash equivalents, equity securities and undrawn $400m credit facility for Alamos Gold and Richmont Mines as of September 30, 2017
4As of December 1, 2017
Balance Sheet
Cash & Cash Eq.1,2 US$239 million
Total Liquidity3 US$639 million
Total Debt US$0
Capital Structure
Shares Outstanding 389.1 million
Warrants 12.2 million
Employee Options 11.1 million
Fully Diluted 415.4 million
Recent Share Price (TSX)4 C$8.03
Market Capitalization ~C$3.1 billion
$24m
Annual interest savings; $72m over remaining
term
$239m
$400m
$639m
As of September 30, 2017
Cash & Total Liquidity
Cash, cash equivalents & equity securitiesUndrawn Credit Facility
3

8. 8
680%
6%
265%
-50%
450%
950%
1450%
1950%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Alamos Gold Share Price (TSX)
S&P/TSX Global Gold Index
Gold (US$/oz)
$91
$511
$71
$10
$419
$400
$950
$1,129
$163
Track Record of Delivering Shareholder Value
1 Based on consensus analyst net asset value (NAV) estimates.
2 Cumulative free cash flow (FCF) generated to date. Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
15%
Annualized return
since 2003
$118m
Dividends paid to
date
Mulatos (US$m) Turkey (US$m)Young-Davidson (US$m) Lynn Lake (US$m)
Acquisition
Cost (2003)
Acquisition
Cost (2015)
Acquisition Cost (2010)
& Capital Invested
Acquisition Cost (2016)
& Capital Invested
Consensus NAV &
Cumulative FCF
Consensus NAV Consensus NAV
$20
$23
Consensus NAV &
Cumulative FCF
Capital Invested Consensus NAV1
Cumulative FCF2Acquisition Cost

9. 9
Operations – Diversified North American Production
Long life reserve base
Declining costs & capital
Growing free cash flow
Growing production

10. 10
Q3 2017 Results – Record Quarter
1 Cost of sales includes mining and processing costs, royalties and amortization.
2 Total consolidated all-in sustaining costs include corporate and administrative and share based compensation expenses. For the purposes of calculating all-in sustaining costs at individual mine sites, the Company does not include corporate and
administrative and share based compensation expenses.
3 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
4 Includes capitalized exploration
5 2017 guidance excludes revised capital budget for Turkish projects approved in April 2017
8%
Production
growth from Q3
2016; record
quarter
-10%
Decrease in all-in
sustaining costs
from Q3 2016
11%
Increase in
operating cash
flow before changes in
working capital
$21m
mine-site free
cash flow3
On track to achieve 2017
production & cost guidance
Q3 2017 Q3 2016
Q3 YTD
2017
2017E
Gold production (000 ounces) 107 99 309 400-430
Gold sales (ounces) 101 95 303 -
Average realized gold price
(US$/oz)
$1,281 $1,325 $1,256 -
Cost of sales (US$/oz, includes
amortization)1
$1,000 $1,078 $1,056 $1,065
All-in sustaining costs (US$/oz)2,3 $884 $979 $946 $940
Capital Expenditures (US$M)
Sustaining3 $10.8 $12.5 $31.2 $40-47
Growth3,4,5 $27.4 $24.7 $92.1 $100-110
Operating revenues (US$M) $128.8 $125.6 $381.1 -
Cash provided by operations
before changes in working capital (US$M)3
$51.3 $46.1 $130.6 -
Net earnings (US$M) $28.8 $4.8 $31.3 -
Earnings per share (basic) $0.10 $0.02 $0.11 -
Cash, cash equivalents & equity
securities (US$M)
$168 $287 $168 -
Total debt (US$/M) $0 $315 $0 -

11. 11
La Yaqui Phase I
Q4 2017 Outlook – On Track to Achieve Full Year Guidance
La Yaqui initial production
early September ahead of
schedule
Kirazlı site development
underway
Richmont acquisition
completed late November
Young-Davidson
MCM waste pass & pebble
crusher completed

12. 12
Young-Davidson – Flagship, Long-Life Production
2015A 2016A 2017E Q3/17A YTD 2017
Gold Production (k oz) 160.4 170.0 200-210 55.8 143.5
Cost of Sales1 (US$/oz) $1,162 $1,087 $1,050 $966 $1,068
Total Cash Costs2,3 (US$/oz) $683 $657 $625 $572 $647
Mine-site AISC2,3 (US$/oz) $986 $897 $775 $744 $824
Total Capital (US$m) $108 $95 $70-80 $22 $63
Mine-site FCF2 (US$m) ($23) $4 - $13 $18
• One of Canada’s largest underground gold mines
• 15 year mine life based on YE 2016 mineral reserves
• Large resource base & exploration potential to support
mine life extension
• Significant Canadian dollar exposure; ~95% of costs
Location: Ontario, Canada Stage: Producing
Ownership: 100% interest Operation: Underground
Gold Reserves & Resources4 Tonnes
(000)
Grade
(g/t Au)
oz Au
(000)
P&P Underground Reserves 42,054 2.70 3,653
M&I Underground Resources 10,792 3.39 1,177
Inferred Underground Resources 3,524 2.76 313
1 Cost of sales includes mining and processing costs, royalties and amortization.
2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
3 Excludes Net Realizable Value (“NRV”) inventory adjustments. See associated MD&A for a full reconciliation.
4 See mineral reserve and resource estimates and associated footnotes in appendix.

13. 13
160
170
200-210
2015A 2016A 2017E
Gold Production (000 oz)
$1,162
$1,087
$1,050
2015A 2016A 2017E
Cost of Sales2 (US$/oz)
$986
$897
$775
2015A 2016A 2017E
Mine-site AISC1 (US$/oz)
$108
$95
$70-80
2015A 2016A 2017E
-31%
Growing production; declining
costs; declining capital intensity
Young-Davidson – Ramp up of Underground Mining
-21%+28%
6,900 tpd
underground mining rate average in Sept. 2017
-10%
6,000 tpd
average underground mining rate in 2016
1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
2 Cost of sales includes mining and processing costs, royalties and amortization
Total Capital Spending (US$m)
1
1.2
1.4
1.6
1.8
2
2.2
2.4
2.6
2.8
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Q1/13
Q2/13
Q3/13
Q4/13
Q1/14
Q2/14
Q3/14
Q4/14
Q1/15
Q2/15
Q3/15
Q4/15
Q1/16
Q2/16
Q3/16
Q4/16
Q1/17
Q2/17
Q3/17
Underground TPD Mill TPD Processed Grade (g/t Au)
Tonnesperday
g/tAu

14. 14
Island Gold – High-Grade, Low Cost Production
Location: Ontario, Canada Stage: Producing
Ownership: 100% interest Operation: Underground
Gold Reserves & Resources3 Tonnes
(000)
Grade
(g/t Au)
oz Au
(000)
P&P Underground Reserves 2,551 9.17 752
M&I Underground Resources 479 5.94 91
Inferred Underground Resources 3,042 10.18 996
Highly Productive Gold Mining District
2015A 2016A 2017E Q3/17A
YTD
2017
Gold Production (k oz) 55.0 83.3 87-93 26.7 76.5
Total Cash Costs1 (US$/oz) $803 $587 $550-$590 $532 $488
Mine-site AISC1 (US$/oz) $1,136 $745 $725-$765 $708 $610
Total Capital2 (US$m) $42 $43 $40-$44 $12 $26
Mine-site FCF1 (US$m) ($27) ($2) - $4 $24
1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
2 Excludes exploration
3 See mineral reserve and resource estimates and associated footnotes in appendix.
• One of Canada’s highest grade & lowest cost gold mines
• PEA expansion to drive production higher & costs lower
• Significant upside potential reflecting inclusion of all
mineral resources & ongoing exploration success
• Significant exploration potential laterally & at depth
0 50 100km
Marathon
Wawa
Hearst
Timmins
Iroquois Falls
Smooth Rock Falls
Eagle River, Wesdome
Borden,Goldcorp
Island Gold
Magino, Argonaut
Cote, IAMGOLD
Black Fox, McEwen
Timmins West, Tahoe
Holloway, Kirkland Lake
Porcupine,Goldcorp
Bell Creek, Tahoe
Young-Davidson
Macassa, Kirkland Lake
Holt, Kirkland Lake
Lake Superior
ONTARIO
Hemlo, Barrick
144
101
17
17
11
101
Mine/
Project
City
Dome Mine, Goldcorp
Hoyle Pond, Goldcorp
Cochrane
Pamour (PJV), Goldcorp
Taylor,
Kirkland Lake
Detour Lake Mine, Detour Gold
>25 Moz gold produced3
>35 Moz in defined reserves

15. 15
90 94
125
$735
$881
$550
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,00
0
50
100
150
200
250
300
350
2017E 2018E 2019E - 2024E Average
Gold Production (k oz) AISC (US$/oz)
$550
$700
$713
$715
$720
$730
$735
$775
$782
$787
$870
$980
$985
$1,050
$1,075
$1,113
$1,150
$1,200
IslandGoldPEA
2019-2024
Seabee
LaRonde
Musselwhite
Meliadine
CanadianMalartic
IslandGold
Young-Davidson
Lapa
Macassa
RedLake
Westwood
Eleonore
BellCreek
DetourLake
EagleRiver
CasaBerardi
BlackFox
Island Gold – Growing Production, Declining Costs
2017E All-in Sustaining Costs (US$/oz)
Mineral Reserve Grade (g/t Au)
Source: Company filings
Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
Note: AISC based on midpoint of 2017 guidance where available, otherwise 1H/17 metrics shown. Eagle River AISC shown is Wesdome consolidated. Bell Creek AISC shown consolidated with Timmins West. TMAC AISC
excluded due to recent guidance revisions. Island Gold based on PEA.
+39%
PEA Expansion: Island Gold Operating Profile
20.8
14.6
9.2 9.2 8.8 8.4 8.3 7.7 7.3 6.4 6.1
4.6 4.5 4.3 4.3 4.2 3.6 2.7
1.1 1.0
Macassa
Brucejack
IslandGold
EagleRiver
Westwood
Seabee
RedLake
HopeBay
Meliadine
Musselwhite
Eleonore
Lapa
LaRonde
CasaBerardi
BlackFox
BellCreek
TimminsWest
Young-Davidson
CanadianMalartic
DetourLake
39%
expected production
growth
Significant upside potential
>750 koz of Inferred resources not factored into
mine plan + ongoing exploration potential
-25%
expected decrease in
LOM AISC

16. 16
67
564
1,037 1,003
768
996
154
111
233
219
72
91
172
141
144
184
562
752
4
5
6
7
8
9
10
-
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2011 2012 2013 2014 2015 2016
Island Gold – Mineral Reserve & Resource Growth
Mineral Reserves and Resources Over Time (koz)
Mineral Reserve grade
Reserves
M&I Resources
Inferred Resources +309%
Increase mineral reserves since 2014
Strong track record of mineral reserve & resource growth
~$35/oz
Low 2016 discovery costs
+30%
Increase in 2016 year end inferred
mineral resource; 20% increase in grade
+44%
Mineral reserve grade increase since
2014
Grade(g/tAu)
ozAu
1,2
1 See mineral reserve and resource estimates and associated footnotes in appendix.
2 Includes Proven & Probable reserves of 752,000 oz (2.6 mt at 9.17 g/t Au), Measured & Indicated resources of 91,000 oz (0.5 mt at 5.94 g/t Au) & Inferred resources of 996,000 oz (3.0 mt at 10.18 g/t Au)

17. 17
Island Gold – Significant Exploration Potential
Significant exploration
potential laterally & at
depth
Grades & average
thickness increasing at
depth
Less than 15% of land
package drilled
>750 k oz of Inferred mineral
resources not included in
PEA expansion plan
Gold Metal Factor (Grade x True Width as of March 31, 2017)
- PEA Expansion
- Mineral Reserve
- Mineral Resource
- Dyke
- Infrastructure
16000mE
-1 500 m
217
60
30
15
7.5
0
Cut off
(4.0-4.35g/t
Au/2.0m)
-500 m
-1 000 m
Crown
pillar
W ISLAND GOUDREAUEXT2LOCHALSH EXT1
MH1-11 (C zone)
0.72/2.71
E
MH1-11 (X zone)
20.78/1.28
MH7 (X zone)
17.85/1.68
MH2A-12
11.67/9.42
MH2A-13
8.86/6.39
MH8-4
19.85/8.40
GD-640-05-3
13.81/5.20 c.l.
GD-640-05-5
58.34/0.43
GD-640-05
20.57/11.3 c.l.
GD-640-05-1
16.10/8.33 c.l.
GD-640-05-1
10.16/5.74 c.l.
GD-640-04
7.38/3.27
GD-630-01
25.37/3.85
GD-620-01
19.74/1.4
GD-640-05-3
4.62/2.21
GD-670-01
4.17/2.44
GD-690-01
15.39/0.89
- PEA Expansion
- Mineral Reserve
- Mineral Resource
- Dyke
- Infrastructure
* Drill hole highlights
- Au g/t / true width (m)
- c.l.: Core length (m)

18. 18
Mulatos – Our Founding Operation
• Initial production 2005
• ~$400m of free cash flow1 generated to date
• Declining cost profile; 5% NSR royalty nearing completion
• Large underexplored land package (28,773 ha)
Location: Sonora, Mexico Stage: Producing
Ownership: 100% interest
Operation: Open pit, heap leach
& high grade mill
2015A 2016A 2017E Q3/17A YTD 2017
Gold Production (k oz) 140.3 154.0 150-160 36.3 117.3
Cost of Sales1 (US$/oz) $1,128 $1,088 $1,015 $956 $964
Total Cash Costs2 (US$/oz) $869 $838 $815 $785 $782
Mine-site AISC2 (US$/oz) $1,047 $916 $890 $864 $852
Total Capital3 (US$m) $45 $33 $33-40 $7 $22
Mine-site FCF2,4 (US$m) ($19) $27 - $6 $20
Gold Reserves & Resources5 Tonnes
(000)
Grade
(g/t Au)
oz Au
(000)
P&P Reserves 49,995 1.17 1,885
M&I Resources 76,084 1.14 2,798
Inferred Resources 10,280 0.98 325
1 Cost of sales includes mining and processing costs, royalties and amortization.
2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
3 Capital spending guidance for 2016 and 2017 excludes capitalized exploration. 2017 guidance includes La Yaqui Phase I development capital
4 Excluding LY Phase I capital expenditures.
5 See mineral reserve and resource estimates and associated footnotes in appendix.

19. 19
La Yaqui & Cerro Pelon
Mulatos – District Exploration Potential
1 See mineral reserve and resource estimates and associated footnotes in appendix.
2 Includes Proven & Probable reserves of 608,000 oz (13.5 mt at 1.40 g/t Au), Measured & Indicated resources of 68,000 oz (1.1 mt at 1.91 g/t Au) & Inferred resources of 8,000 oz (0.2 mt at 1.39 g/t Au) for La Yaqui and Proven & Probable
reserves of 170,000 oz (3.3 mt at 1.63 g/t Au), Measured & Indicated resources of 47,000 oz (0.6 mt at 2.56 g/t Au) & Inferred resources of 4,000 oz (0.1 mt at 1.23 g/t Au) for Cerro Pelon.
District potential
Large underexplored land package; >70% of past drilling
focused near Mulatos mine
Mulatos District
Mulatos mine
220 259
778
47
115
236
0
100
200
300
400
500
600
700
800
900
1000
2014 2015 2016
Ounces(000Au)
Proven & Probable Mineral Reserves
Inferred Mineral Resources
Measured & Indicated Mineral Resources
1,2
La Yaqui Phase I
La Yaqui Grande
778k oz
Combined mineral reserves1,2 at La Yaqui & Cerro Pelon,
a 254% increase since 2014

20. 20
El Chanate – Consistent Gold Producer
• $3m site free cash flow2 generated in Q3 2017 YTD
• $1,270/oz minimum realized gold price in 2018 with
production hedged5
• Significant free cash flow at end of mine life through residual
leaching
Location: Sonora, Mexico Stage: Producing
Ownership: 100% interest Operation: Open pit, heap leach
Gold Reserves & Resources4 Tonnes
(000)
Grade
(g/t Au)
oz Au
(000)
P&P Reserves – Open Pit 10,812 0.56 193
P&P Reserves – Leach Pad Inventory - - 100
M&I Resources 4,415 0.66 93
2015A 2016A 2017E Q3/17A YTD 2017
Gold Production (k oz) 79.3 68.0 50-60 14.9 48.3
Cost of Sales1 (US$/oz) $1,504 $1,177 $1,265 $1,217 $1,226
Total Cash Costs2,3 (US$/oz) $808 $1,052 $1,200 $1,137 $1,156
Mine-site AISC2,3 (US$/oz) $978 $1,069 $1,200 $1,164 $1,187
Total Capital (US$m) $14 $1 $2 $0.3 $1
Mine-site FCF2 (US$m) $3 $5 - $2 $3
1 Cost of sales includes mining and processing costs, royalties and amortization.
2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
3 Excludes Net Realizable Value (“NRV”) inventory adjustments. See associated MD&A for a full reconciliation.
4 See mineral reserve and resource estimates and associated footnotes in appendix.
5 El Chanate’s 2017 and 2018 production has been hedged through gold collar contracts which ensure a minimum gold price of $1,270 per ounce and participation up to $1,444 per ounce in 2018.

21. 21
Development – Peer Leading Growth Profile
Low cost, low capital
intensity growth
Capacity to double
current rate of production
6 development projects

22. 22
Development: Kirazlı, Ağı Dağı & Çamyurt
Location: Turkey Stage: Development
Ownership: 100% interest Operation: Open pit, heap leach
• Kirazlı & Ağı Dağı EIAs approved
• Kirazlı Forestry Permits granted January 2017
• Kirazlı & Ağı Dağı feasibility studies completed February
20171 outlining 185% increase in combined after-tax NPV8%
• Tax incentives & mining law supportive of industry
Kirazlı2
Tonnes Grade Contained Ounces
(000) (g/t Au) (g/t Ag) (000 Au) (000 Ag)
Proven & Probable 26,104 0.79 12.01 665 10,078
Measured & Indicated 5,966 0.43 2.18 82 418
Inferred 5,689 0.59 8.96 108 1,638
Ağı Dağı2
Proven & Probable 54,361 0.67 5.41 1,166 9,459
Measured & Indicated 34,887 0.46 2.18 518 2,445
Inferred 16,760 0.46 2.85 245 1,534
Çamyurt2
Measured & Indicated 17,721 0.89 6.14 508 3,497
Inferred 2,791 0.95 5.77 85 518
1 Please refer to press releases dated Feb 15 and Feb 22, 2017 regarding Kirazli & Agi Dagi feasibility studies & Camyurt preliminary economic assessment. The 185% increase is compared to the 2012 pre-feasibility study
2 See mineral reserve and resource estimates and associated footnotes in appendix

23. 23
Development: Kirazlı, Ağı Dağı & Çamyurt Economic Studies
After-taxNPV8%(US$m)
$82m
$187m
$88m
$298m
$86m
$0
$100
$200
$300
$400
$500
$600
2012 2017
Kirazlı Ağı Dağı Çamyurt
+236%
1 Please refer to press releases dated Feb 15 and Feb 22, 2017 regarding Kirazli & Agi Dagi Feasibility studies & Camyurt PEA. After-tax NPV8% in 2012 prefeasibility study and after-tax NPV8% and IRR in 2017 feasibility studies and PEA
assume gold and silver prices of $1,250 and $16 per ounce, respectively
2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures
11
2017 Positive Economic Studies1
Kirazlı
Feasibility
Study
Ağı Dağı
Feasibility
Study
Çamyurt
PEA
Mine Life Years 5 6 4
Average Annual Production
oz Au 104,000 177,600 93,200
oz Ag 617,300 444,200 403,000
Average grade g/t Au 0.79 0.67 0.92
Mine-site AISC2
US$m $373 $411 $645
Initial Capex US$m $152 $250 $10
Total Capex US$m $180 $313 $26
After-tax NPV5%
US$m $223 $360 $111
After-tax NPV8%
US$m $187 $298 $86
After-tax IRR % 44% 39% 253%
Gold Price Assumption US$/oz $1,250 $1,250 $1,250
>39%
After-tax IRR for each of Kirazlı, Ağı Dağı & Çamyurt1
Low cost, high return growth

24. 24
Quartz Mountain
Location: Oregon, United States
Ownership: Right to earn a 100% interest4
Stage: Advanced Exploration
Esperanza
Location: Morelos State, Mexico
Ownership: 100% interest
Stage: Development
Operation: Open pit, heap leach
Development: Lynn Lake, Esperanza & Quartz Mountain
1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
2 Historic column recovery tests for gold at Quartz Mountain varied between 74% and 88% for the felsic rock hosted mineralization; see Orsa Ventures press release dated February 12, 2013
3 See mineral reserve and resource estimates and associated footnotes in appendix.
4 Additional C$3m due on completion of feasibility study & C$15m or 2% NSR upon successful permitting
Lynn Lake
Location: Manitoba, Canada
Ownership: 100% interest
Stage: Feasibility
Operation: Open pit
Tonnes
(000)
Grade
(g/t Au)
oz Au
(000)
M&I Resources3
40,303 2.03 2,629
Inferred Resources 50,704 1.28 2,089
• Located in highly-prospective Lynn Lake
Mining District
• High grade, open pit with significant
exploration potential
• Existing infrastructure in place
• Low cost hydroelectric power
• Feasibility study expected Q4 2017
Tonnes Grade Oz Au
(000) (g/t Au) (g/t Ag) (000 Au) (000 Ag)
M&I3
Resources 34,352 0.98 8.09 1,083 8,936
Inf. Resources 718 0.80 15.04 18 347
Tonnes Grade Oz Au
(000) (g/t Au) (000 Au)
M&I Resources3
12,156 0.87 339
Inferred Resources 39,205 0.91 1,147
• Excellent infrastructure; low technical
risk
• Low capital intensity & operating costs
• Average annual production potential >
100k oz
• AISC expected to be lowest quartile1
• Located on northern extension of
prolific Basin & Range Province of
Nevada
• Low strip ratio, favourable metallurgy2
• Acquisition cost $3.5m

25. 25
Alamos – Investment Case
Catalysts
Diversified intermediate gold producer Low-cost growth profile
Strong balance sheet to support
growth
Long term track record of delivering
shareholder value
 Q4 2016: Met consolidated 2016 production guidance
 Q1 2017: Received Forestry Permits for Kirazlı project
 Q1 2017: Positive Kirazlı & Ağı Dağı feasibility studies & Çamyurt PEA
 Q1 2017: 31% increase in combined mineral reserves
 Q3 2017: Initial production at La Yaqui
 Q4 2017: Closing of Richmont acquisition
Q4 2017: Lynn Lake feasibility study
2017: Ongoing exploration at Mulatos
2017: Receipt of GSM permit for Kirazlı

26. 26
Appendices

27. 27
Board of Directors and Executive and Management Team
Board of Directors
Executive and Management Team
Paul J. Murphy
John A.
McCluskey
Mark J. Daniel
Patrick D.
Downey
David Fleck David Gower
Claire M. C.
Kennedy
Ronald E. Smith Kenneth Stowe
Chairman Director Director Director Director Director Director Director Director
John A. McCluskey Jamie Porter Peter MacPhail Christine Barwell Chris Bostwick Luis Chavez
President and CEO Chief Financial Officer Chief Operating Officer VP, Human Resources VP, Technical Services Senior VP, Mexico
Andrew Cormier Nils Engelstad Greg Fisher Aoife McGrath Scott Parsons Colin Webster
VP, Development & Construction VP, General Counsel VP, Finance VP, Exploration VP, Investor Relations VP Sustainability & External Affairs

28. 28
Sustainability
• Our Objectives
• As we pursue further growth, we will continue to measure our success as an
organization by our performance in achievement of our sustainability objectives:
• Protecting the health and well-being of our employees
• Creating shared value with our host communities and countries
• Ensuring that our operations are net-positive for the environment
• Over the years, Alamos has been recognized for its achievements in these areas:
Clean Industry Certification from PROFEPA
• Alamos was certified as an Industria Limpia (clean industry)
in recognition of the excellence of environmental management
at Mulatos
CSR Award from Mexican Center for Philanthropy (CEMEFI)
• Signifies exceptional record of CSR performance;
• 2016 marked the 8th consecutive year for Alamos

29. 29
1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
2 Excludes capitalized exploration.
3 For the purposes of calculating mine-site all-in sustaining costs at individual mine sites, the Company does not include an allocation of corporate and administrative and share based compensation expenses to the mine sites.
4 Cost of sales includes mining and processing costs, royalties, and amortization expense
5 Assuming an exchange rate of 1.30 Canadian dollars to 1.0 US dollar.
2017 Guidance – Alamos
2017 Guidance 2016 Actuals
Young-Davidson Mulatos El Chanate Total Total
Gold production (000’s ounces) 200-210 150-160 50-60 400-430 392
Cost of Sales (in millions)(4) $215 $157 $70 $442 $429
Cost of Sales ($/oz)(4) $1,050 $1,015 $1,265 $1,065 $1,103
Total cash costs ($/oz)(1) $625 $815 $1,200 $765 $797
All-in sustaining costs ($/oz)(1) $940 $1,010
Mine-site all-in sustaining costs ($/oz)(1),(3) $775 $890 $1,200 -
Capital expenditures (in millions)
Sustaining capital(1) $30-35 $8-10 $2 $40-47 $49
Growth capital(1) $40-45 $25-30(2) - $65-75 $97
Total – Operating Mines(1) $70-80 $33-40 $2 $105-122 $128
Total – Development Projects $35-61 $18
Total Consolidated Budget $140-183 $147
Corporate & Administrative (in millions) $16 $16
Island Gold Mine 2017 Guidance 2016 Actual
Gold production (000’s ounces) 87 - 93 83.3
Total cash costs (US$/oz)(1)(5) $550 - $590 $587
Mine-site all-in sustaining costs (US$/oz)(1)(5) $725 - $765 $745
Capital Expenditures and Exploration ($M)
Sustaining Capital (US$)(5) $15 - $17 $13
Expansion Capital (US$)(5) $25 - $27 $30
Exploration & Project Evaluation (US$)(5) $11 - $12 $11

30. 30
Young-Davidson – Increasing Grade & Productivity
1 Cost of sales includes mining and processing costs, royalties and amortization.
2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
3 Excludes Net Realizable Value (“NRV”) inventory adjustments. See associated MD&A for a full reconciliation.
4 Excludes hydro rebate not attributable to Q4/15
Underground ramp up driving production higher and unit costs lower
Q1/13 Q2/13 Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17
Gold ounces produced 28,281 29,252 30,099 33,106 35,104 40,166 40,538 40,945 38,098 39,365 38,201 44,694 39,065 42,644 43,629 44,662 40,400 47,300 55,800
Cost of sales1 (US$/oz) Pre-commercial production $1,677 $1,625 $1,370 $1,211 $1,216 $1,298 $1,165 $986 $1,058 $1,182 $1,032 $1,077 $1,148 $1,113 $966
Total cash costs per oz.(2,3)
$694 $716 $666 $850 $1,009 $871 $723 $719 $745 $697 $681 $617 $616 $738 $607 $667 $710 $677 $572
Mine-site AISC per oz.(2,3)
$1,059 $1,254 $1,357 $1,270 $1,315 $1,144 $959 $912 $987 $1,008 $979 $980 $846 $965 $849 $926 $851 $895 $ 744
Underground mine
Tonnes mined per day 1,130 1,611 1,417 2,590 2,611 3,595 3,753 4,140 4,130 5,149 5,081 5,911 5,776 6,123 5,467 6,675 6,400 6,377 6,544
Grades (g/t) 2.7 2.5 2.8 3.1 2.8 3.3 3.1 3.0 3.0 2.6 2.6 2.6 2.6 2.4 2.8 2.4 2.6 2.6 2.9
Development metres 1,941 2,445 2,620 2,986 3,772 3,545 3,269 3,438 3,409 3,789 3,619 3,769 3,490 3,168 2,677 3,044 3,242 3,425 3,344
Unit UG mining costs (US$)
Pre-commercial production
$46 $45 $41 $39 $39 $33 $32 $294 $31 $34 $34 $32 $36 $33 $34
Unit UG mining costs (CAD$) $51 $49 $45 $44 $48 $41 $41 $384 $42 $44 $45 $42 $47 $44 $43
Mill processing facility
Tonnes processed per day 6,466 7,017 6,747 6,969 7,163 8,230 7,670 7,757 7,186 7,677 7,680 7,630 7,342 7,006 6,833 7,552 7,718 6,917 7,553
Grades (inc. OP stockpile) 1.8 1.7 1.7 2.0 1.8 2.2 1.9 2.0 2.0 2.0 1.9 2.2 2.1 2.1 2.4 2.2 2.2 2.5 2.7
Recoveries (%) 86% 85% 89% 88% 87% 88% 90% 88% 86% 88% 92% 91% 90% 92% 93% 90% 89% 92% 93%
$20
$25
$30
$35
$40
$45
$50
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17
Underground tonnes mined per day Unit UG mining costs (US$/t)
UndergroundTPD
UnitUGminingcosts(US$/t)

31. 31
2016 2017 2018 2019
 Commissioning of MCM shaft
 Transition to 100% owner
development
 Ramp up to 7,000 tpd
 Raise boring of lower NG shaft
 Completion of MCM waste pass
• Shaft bottom infrastructure
• Northgate shaft hoisting from
8900L
Young-Davidson – Development Schedule
Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.
Declining capital intensity

32. 32
Young-Davidson – Long Section
Productivity improvements &
declining costs
Developing the underground to support ramp up of underground mining
Milled grade higher
Declining capital intensity
Higher underground mining
rates driving:
Production growth

33. 33
Island Gold – 2017 Drilling Program
Significant Exploration Potential at Depth and to the East

34. 34
Island Gold – Regional Exploration

35. 35
Mulatos District

36. 36
Zone 3
Zone 2
Zone 1
Zones 1 & 2 YE2016
Reserve Pits
ZONE 3 INTERCEPTS
17YAQ053 - 18.00 m at 3.52 g/t Au (107-125m)
17YAQ055 - 7.20 m at 9.21 g/t Au (133-140m)
17YAQ048 - 33.50 m at 2.12 g/t Au (73-107m)
17YAQ065 - 23.10 m at 2.81 g/t Au (90-113m)
17YAQ012 - 39.60 m at 1.54 g/t Au (83-122m)
17YAQ016 - 25.00 m at 1.71 g/t Au (92-117m)
16YAQ123 – 11.9m @ 2.725 g/t Au (178-190m)
16YAQ126 – 17.1m @ 2.873 g/t Au ( 131-148m)
16YAQ203 – 14m @ 2.464 g/t Au (159-173m)
16YAQ204 – 13m@ 6.906 g/t Au (123-136m)
16YAQ230 – 17.7m @ 3.03 g/t Au (77-95m)
ZONE 2 INTERCEPTS
16YAQ125 – 88.4m @ 2.769 g/t Au (99-188m)
16YAQ129 – 76.8M @ 3.168 g/t Au (110-187m)
16YAQ135 – 76m @ 4.374 g/t Au (60-136m)
16YAQ156 – 41.4m @ 2.348 g/t Au (97-138m)
16YAQ158 – 53.9m @ 1.245 g/t Au (121-175m)
16YAQ228 – 32.6m @ 7.587 g/t Au (106-138m)
ZONE 1 INTERCEPTS
16YAQ027 - 30.9m @ 2.201 g/t Au (59-90m)
16YAQ035 - 78.4m @ 1.20 g/t Au (140-220m)
16YAQ045 - 36.5m @ 1.677 g/t Au (70-106m)
16YAQ106 - 36.2m @ 4.332 g/t Au (99-135m)
16YAQ062 - 48.8m @ 2.22 g/t Au (137-186m)
Yaqui Phase 1 Reserve pit
For more information, see press releases dated February 23, 2017, August 3, 2017 and mineral reserve and resource estimates and associated footnotes in appendix.

37. 37
Strong Portfolio of Development Projects
NORTH AMERICA
STAGE CANADA UNITED STATES MEXICO TURKEY
Construction La Yaqui Phase I
Permitting/
Feasibility
Lynn Lake
Kirazlı
Aği Daği
Çamyurt
Advanced
Exploration/
Development
Quartz Mountain
Cerro Pelon
La Yaqui Grande
Esperanza
Other
Exploration
Opportunities
Lynn Lake Regional
Quartz Mountain
Targets
Los Bajios
San Carlos Far East
El Refugio
El Carricito
Çamyurt
Expansion
Kirazlı Zones

38. 38
Kirazlı, Ağı Dağı & Çamyurt Economic Studies – 2017
Feasibility Study - 2017 Preliminary Economic Assessment - 2017
Kirazlı Ağı Dağı Çamyurt
Production
Mine life (years) 5 6 4
Total gold production (ounces) 540,000 937,300 373,200
Total silver production (ounces) 3,141,000 2,365,200 1,612,600
Average annual production (ounces)1
Gold 104,000 177,600 93,200
Silver 617,300 444,200 403,000
Total ore mined (tonnes) 26,100,000 54,361,000 16,580,000
Total waste mined (tonnes) 37,900,000 55,893,000 30,874,000
Total material mined (tonnes) 64,000,000 110,254,000 47,454,000
Waste-to-ore ratio2
1.45 1.03 1.86
Average grade (grams per tonne)
Gold 0.79 0.67 0.92
Silver 12.0 5.4 6.3
Recovery (%)
Gold 81% 80% 76%
Silver 31% 25% 48%
Average throughput (tpd) 15,000 30,000 15,000
Operating Costs
Total cost per tonne of ore3
$8.49 $6.46 $14.03
Total cash cost (per ounce sold)4
$339 $374 $604
Mine-site all-in sustaining cost (per ounce sold)4
$373 $411 $645
Capital Costs (millions)
Pre-production capital expenditure $151.9 $250.3 $10.2
Sustaining capital expenditure $18.1 $33.9 $9.4
Reclamation costs (net of salvage value) $9.9 $28.8 $5.9
Total capital expenditure $179.8 $312.9 $25.5
Economic Analysis
IRR (after-tax) 44.3% 38.7% 253.0%
NPV @ 0% discount rate (after-tax, millions) $299.3 $492.8 $173.8
NPV @ 5% discount rate (after-tax millions) $222.9 $360.2 $111.4
NPV @ 8% discount rate (after-tax, millions) $186.5 $297.6 $86.2
Gold price assumption (average, per ounce sold) $1,250 $1,250 $1,250
Silver price assumption (average, per ounce sold) $16.00 $16.00 $16.00
Exchange Rate (Turkish Lira/US Dollar) 2.90:1 2.90:1 2.90:1
1 Average annual production is based on five full years of production for Kirazlı and Ağı Dağı and excludes pre-commercial production
2 Reported waste-to-ore ratio is over the life of mine. The waste-to-ore ratio during commercial production is 0.70:1 for Ağı Dağı and 1.19:1 for Kirazlı in the 2017 feasibility study
3 Total unit cost per tonne of ore excludes silver as a by-product credit
4 Total cash costs and mine-site all-in sustaining costs include silver as a by-product credit

39. 39
2016 Proven and Probable Mineral Reserves
PROVEN AND PROBABLE GOLD RESERVES (as at December 31, 2016)
Proven Reserves Probable Reserves Total Proven and Probable
Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces
(000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000's) (g/t Au) (000's)
Young-Davidson - Surface 1,165 0.91 34 - - - 1,165 0.91 34
Young-Davidson - Underground 14,851 2.80 1,336 27,203 2.65 2,317 42,054 2.70 3,653
Total Young-Davidson 16,016 2.66 1,370 27,203 2.65 2,317 43,220 2.65 3,687
Island Gold 573 8.68 160 1,978 9.31 592 2,551 9.17 752
Mulatos Main Pits 4,173 1.02 137 21,847 0.87 613 26,020 0.90 750
San Carlos Underground 72 13.06 30 34 8.64 9 106 11.65 40
Stockpiles 7,129 1.38 317 - - - 7,129 1.38 317
La Yaqui 470 1.48 22 1,469 1.37 65 1,939 1.40 87
La Yaqui Grande - - - 11,548 1.40 521 11,548 1.40 521
Cerro Pelon 960 1.70 53 2,293 1.59 117 3,253 1.63 170
Total Mulatos 12,804 1.36 559 37,191 1.11 1,325 49,995 1.17 1,885
El Chanate - Open Pit 7,008 0.51 114 3,804 0.65 79 10,812 0.56 193
El Chanate - Leach Pad Inv. - - 100 - - - - - 100
Total El Chanate 7,008 0.95 214 3,804 0.65 79 10,812 0.84 293
Agi Dagi 1,450 0.76 36 52,911 0.66 1,130 54,361 0.67 1,166
Kirazli 700 1.25 28 25,404 0.78 637 26,104 0.79 665
Total Turkey 2,150 0.93 64 78,315 0.70 1,767 80,465 0.71 1,831
Alamos - Total 38,552 1.91 2,367 148,491 1.27 6,081 187,043 1.40 8,448
PROVEN AND PROBABLE SILVER MINERAL RESERVES (as at December 31, 2016)
Proven Reserves Probable Reserves Total Proven and Probable
Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces
(000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's)
La Yaqui 470 7.40 112 1,469 7.19 340 1,939 7.25 452
La Yaqui Grande - - - 11,548 19.94 7,403 11,548 19.94 7,403
Ağı Dağı 1,450 6.22 290 52,911 5.39 9,169 54,361 5.41 9,459
Kirazli 700 15.90 358 25,404 11.90 9,720 26,104 12.01 10,078
Alamos - Total 2,620 9.02 760 91,332 9.07 26,632 93,952 9.07 27,392

40. 40
2016 Total Measured and Indicated Mineral Resources
MEASURED AND INDICATED GOLD MINERAL RESOURCES (as at December 31, 2016)
Measured Resources Indicated Resources Total Measured and Indicated
Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces
(000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000's) (g/t Au) (000's)
Young-Davidson - Surface 496 1.13 18 1,242 1.28 51 1,739 1.24 69
Young-Davidson - Underground 5,876 3.33 629 4,916 3.47 548 10,792 3.39 1,177
Total Young-Davidson 6,373 3.16 647 6,158 3.03 599 12,531 3.09 1,246
Island Gold 34 4.94 5 446 6.01 86 479 5.94 91
Mulatos 8,270 1.24 330 64,221 1.08 2,224 72,491 1.10 2,554
San Carlos UG 196 6.11 39 362 4.70 55 558 5.20 93
La Yaqui - - - 1,108 1.91 68 1,108 1.91 68
Cerro Pelon 117 2.75 10 455 2.52 37 572 2.56 47
Carricito 58 0.82 2 1,297 0.82 34 1,355 0.83 36
Total Mulatos 8,641 1.37 381 67,443 1.12 2,418 76,084 1.14 2,798
El Chanate 1,092 0.55 19 3,323 0.69 74 4,415 0.66 93
MacLellan 15,010 1.99 960 17,374 1.75 976 32,384 1.86 1,936
Gordon - - - 5,914 3.21 610 5,914 3.21 610
Burnt Timber - - - 1,021 1.40 46 1,021 1.40 46
Linkwood - - - 984 1.16 37 984 1.17 37
Total Lynn Lake 15,010 1.99 960 25,293 2.05 1,669 40,303 2.03 2,629
Esperanza 19,226 1.01 622 15,126 0.95 462 34,352 0.98 1,083
Ağı Dağı 553 0.44 8 34,334 0.46 510 34,887 0.46 518
Kirazli 118 0.50 2 5,848 0.43 80 5,966 0.43 82
Çamyurt 513 1.00 16 17,208 0.89 492 17,721 0.89 508
Total Turkey 1,184 0.68 26 57,390 0.59 1,082 58,574 0.59 1,108
Quartz Mountain 214 0.95 7 11,942 0.87 333 12,156 0.87 339
Alamos - Total 51,773 1.60 2,667 187,121 1.12 6,723 238,894 1.22 9,389
MEASURED AND INDICATED SILVER MINERAL RESOURCES (as at December 31, 2016)
Measured Resources Indicated Resources Total Measured and Indicated
Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces
(000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's)
La Yaqui Grande - - - 1,108 15 523 1,108 15 523
Esperanza 19,226 7.25 4,482 15,126 9.16 4,455 34,352 8.09 8,936
Ağı Dağı 553 1.59 28 34,334 2.19 2,417 34,887 2.18 2,445
Kirazli 118 2.73 10 5,848 2.17 408 5,966 2.18 418
Çamyurt 513 5.63 93 17,208 6.15 3,404 17,721 6.14 3,497
Alamos - Total 20,410 7.03 4,613 73,624 4.73 11,207 94,034 5.23 15,819

41. 41
2016 Total Inferred Mineral Resources
INFERRED GOLD MINERAL RESOURCES
(as at December 31, 2016)
Tonnes Grade Ounces
(000's) (g/t Au) (000's)
Young-Davidson - Surface 31 0.99 1
Young-Davidson - Underground 3,524 2.76 313
Total Young-Davidson 3,555 2.75 314
Island Gold 3,042 10.18 996
Mulatos 8,935 0.92 265
San Carlos UG 162 4.93 26
La Yaqui 174 1.39 8
Cerro Pelon 109 1.23 4
Carricito 900 0.74 22
Total Mulatos 10,280 0.98 325
El Chanate 112 0.71 3
MacLellan 1,898 2.01 123
Gordon 4,364 2.87 403
Burnt Timber 23,438 1.04 781
Linkwood 21,004 1.16 783
Total Lynn Lake 50,704 1.28 2,089
Esperanza 718 0.80 18
Ağı Dağı 16,760 0.46 245
Kirazli 5,689 0.59 108
Çamyurt 2,791 0.95 85
Total Turkey 25,240 0.54 438
Quartz Mountain 39,205 0.91 1,147
Alamos - Total 132,857 1.25 5,330
INFERRED SILVER MINERAL RESOURCES
(as at December 31, 2016)
Tonnes Grade Ounces
(000's) (g/t Ag) (000's)
La Yaqui Grande 174 5.55 31
Esperanza 718 15.04 347
Ağı Dağı 16,760 2.85 1,534
Kirazli 5,689 8.96 1,638
Çamyurt 2,791 5.77 518
Alamos - Total 26,132 4.84 4,068

42. 42
Notes to Mineral Reserve and Resource Estimates
Notes to Mineral Reserve and Resource Tables:
• The Company’s Mineral Reserves and Mineral Resource as at December 31, 2016 are classified in accordance with the Canadian Institute of Mining Metallurgy and Petroleum’s “CIM Standards on Mineral Resources
and Reserves, Definition and Guidelines” as per Canadian Securities Administrator’s NI 43-101 requirements.
• Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
• Mineral Resources are exclusive of Mineral Reserves.
• Mineral Reserve cut-off grade for the Mulatos Mine, the Cerro Pelon Pit, the La Yaqui Pit, the Kirazlı Pit and the Ağı Dağı Pit are determined as a net of process value of $0.10 per tonne for each model block
• All Measured, Indicated and Inferred Mineral Resources are pit constrained with the exception of those outside the Mulatos Main Pits on the Mulatos property which have no economic restrictions and are tabulated
by gold cut-off grade.
• Mineral Reserve estimates assumed a gold price of USD $1,250 per ounce and Mineral Resource estimates assumed a gold price of USD $1,400 per ounce, except as follows: Lynn Lake Mineral Resources assumed a
gold price of $CAD 1,550 per ounce with an assumption of the Canadian dollar at parity with the United States dollar. Island Gold assumed a Mineral Reserve and Mineral Resource gold price of CAD $1,500. Metal
prices, cutoff grades and metallurgical recoveries are set out in the table below.
• El Chanate reserve ounces include a December 31, 2016 inventory 99,900 recoverable ounces in the heap leach pad
Qualified Persons:
Chris Bostwick, FAusIMM, Alamos Gold’s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this presentation. Chris Bostwick is a Qualified
Person within the meaning of Canadian Securities Administrator’s National Instrument 43-101 (“NI 43-101”). The Qualified Persons for the National Instrument 43-101 compliant mineral reserve and resource
estimates are detailed in the following table.
Mineral Resources
Jeffrey Volk, CPG, FAusIMM Director - Reserves and Resource, Alamos Gold Inc. Young-Davidson, El Chanate, San Carlos U/G, Lynn Lake
Marc Jutras, P.Eng Principal, Ginto Consulting Inc. Mulatos Pits, Cerro Pelon, La Yaqui, Carricito, Esperanza, Ağı Dağı,
Kirazlı, Çamyurt, Quartz Mountain
Raynald Vincent P.Eng. M.P.M. Chief Geologist, Island Gold Island Gold
Mineral Reserves
Chris Bostwick, FAusIMM VP Technical Services, Alamos Gold Inc. Young-Davidson, El Chanate, San Carlos Underground
Herb Welhener, SME-QP VP, Independent Mining Consultants Inc. Mulatos Pits, Cerro Pelon, La Yaqui, Ağı Dağı, Kirazlı
Léon Grondin Leblanc, P.Eng. Chief Engineer, Island Gold Island Gold
Resources Reserves
Gold Price Cutoff Gold Price Cutoff Met Recovery
Mulatos:
Mulatos Main Open Pit $1,400 0.5 $1,250 see notes >50%
San Carlos Underground $1,400 2.5 $1,250 3.27 70%
Cerro Pelon $1,400 0.5 $1,250 see notes 75%
La Yaqui $1,400 0.5 $1,250 see notes 75%
Carricito $1,400 0.3 n/a n/a >50%
Young-Davidson - Surface $1,400 0.5 $1,250 0.5 91%
Young-Davidson - Underground $1,400 1.3 $1,250 1.9 91%
Island Gold CAD $1,500 4.5 CAD 1,500 4.0-4.3 96.5%
El Chanate $1,400 0.15 $1,250 0.15 30-65%
Lynn Lake $1,555 0.4 n/a n/a 89-92%
Esperanza $1,400 0.4 n/a n/a 60-72%
Ağı Dağı $1,400 0.2 $1,250 see notes 80%
Kirazlı $1,400 0.2 $1,250 see notes 81%
Çamyurt $1,400 0.2 n/a n/a 78%
Quartz Mountain $1,400 0.21 Oxide, 0.6 Sulfide n/a n/a 65-80%

43. 43
Scott K. Parsons, CFA
VP, Investor Relations
416.368.9932 x 5439
sparsons@alamosgold.com