4. 4
$1,241
$1,103
$1,062 $1,075
2015A 2016A 2017A 2018E
2015A 2016A 2017A 2018E
2017 Scorecard – Record Q4 & 2017 Performance
2015A 2016A 2017A
Operating revenues (US$M) $355.1 $482.2 $542.8
Cash provided by operations
before changes in WC (US$M)1
$65.3 $148.0 $183.3
Cash flow per share
(basic)1
$0.34 $0.56 $0.60
Mine‐site free cash flow
(US$M)1
($39.6) $35.4 $77.5
Growing production, declining costs, increasing profitability
429
$1,091
$1,010
$933 $950
2015A 2016A 2017A 2018E
Gold Production (000 oz)
AISC1,2 (US$/oz)
‐6%
Cost of Sales1,3 (US$/oz)
‐3%
+28%
392
480‐520
380
1 Please refer to Cautionary Notes on non‐GAAP Measures and Additional GAAP Measures.
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 Cost of sales includes mining and processing costs, royalties and amortization.
5. 5
2017 Scorecard – Strong Outlook
Proven & Probable Mineral Reserves1,2
5.9
7.7
9.8
0
5
10
15
2015 2016 2017
14.2
18.5 19.7
0
5
10
15
20
25
2015 2016 2017
Ounces Au (Millions)
Years
1 For more information, see press release dated February 21, 2018 “Alamos Reports Mineral Reserves and Resources for the Year‐Ended 2017” and mineral reserve and resource estimates and associated footnotes in appendix.
2 Year end 2017 Proven & Probable mineral reserves total 9.8 million ounces of gold (203.4 mt at 1.50 g/t Au).
3 Mineral Reserve Life Index defined as year end mineral reserves divided by the mid point of 2017 gold production guidance (2015 = 5.9m oz/415k oz; 2016 = 7.7m oz/415k oz; 2017 = 9.8m oz/500k oz)
Mineral Reserve Life Index1,3
+67%
+5
2.1m oz
Increase in mineral reserves through Island
Gold, La Yaqui Grande & Lynn Lake
La Yaqui initial production early
September ahead of schedule
Kirazlı site development underway
High quality,
long life reserve base
6. 6
Canada
57%Mexico
23%
Turkey
20%
AĞI DAĞI (TURKEY) – Permitting3
Average Au Production 178koz
Mine‐site AISC2 $411
After‐tax IRR +39%
KIRAZLI (TURKEY) – Permitting3
Average Au Production 104 koz
Mine‐site AISC2 $373/oz
After‐tax IRR +44%
ÇAMYURT (TURKEY) – Permitting3
Average Au Production 93 koz
Mine‐site AISC2 $645
After‐tax IRR +253%
Top 10 North American Gold Producer
MULATOS (SONORA, MEXICO)
2018E Au Production 150‐160 koz
2018E Au Mine‐site AISC US$900/oz
EL CHANATE (SONORA, MEXICO)
2018E Au Production 40‐50 koz
2018E Au Mine‐site AISC US$1,200/oz
YOUNG‐DAVIDSON (ONTARIO, CANADA)
2018E Au Production 200‐210 koz
2018E Au Mine‐site AISC US$850/oz
Producing Assets
Exploration / Development Assets
1 Source: Select street research
2 Please refer to Cautionary Notes on non‐GAAP Measures and Additional GAAP Measures.
3 Average annual production and mine‐site AISC for Turkish projects and Lynn Lake are detailed in economic studies completed in 2017.
Note: Mineral resources are exclusive of mineral reserves. See mineral reserve and resource estimates and associated footnotes in appendix.
ISLAND GOLD (ONTARIO, CANADA)
2018E Au Production 90‐100 koz
2018E Au Mine‐site AISC US$825/oz
QUARTZ MOUNTAIN (USA) – Adv. 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 (MEXICO) – Permitting
Total Au M&I Resources 1.1 Moz (34.4mt @ 0.98 g/t)
LYNN LAKE (CANADA) – Permitting3
Average Au Production 143 koz (Years 1‐10)
Mine‐site AISC2 $745
After‐tax IRR +13%
Asset NPV by Geography1
Asset NPV by Stage1
Production
72%
Development
28%
Canada
60%
Mexico
40%
North American
Production
8. 8
$237m
$400m
Strong Balance Sheet – Debt Free
1 Unaudited management estimate as of December 31, 2017.
2 Cash, cash equivalents & equity securities as of December 31, 2017.
3 Total liquidity includes cash, cash equivalents, equity securities and undrawn $400m credit facility for Alamos Gold as of December 31, 2017
4As of February 22, 2018
5Source: Factset and company reports. As of December 31, 2017 for companies that have reported 2017 financials as of February 22, 2018
$637m
As of December 31, 2017
Cash & Total Liquidity
Cash, cash equivalents & equity securitiesUndrawn Credit Facility
3
Net Cash / (Debt) (US$m)5
Cash & Cash Eq.1,2 US$237 million
Total Liquidity3 US$637 million
Total Debt US$0
Capital Structure
Shares Outstanding (Basic) 389.4 million
Shares Outstanding (Fully Diluted) 413.7 million
Recent Share Price (TSX)4 C$6.30
Market Capitalization ~C$2.5 billion
Balance Sheet
2
$414
$237 $236 $193 $124 $83
‐$42
‐$167 ‐$167
‐$362
‐$572
‐$678
‐$792
‐$1,700
IMG AGI SSRM KL CG THO ELD DGC OGC AEM BTO K NGD YRI
9. 9
512%
1%
280%
‐50%
450%
950%
1450%
1950%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Alamos Gold Share Price (TSX)
S&P/TSX Global Gold Index
Gold (US$/oz)
Track Record of Delivering Shareholder Value
13%
Annualized return
since 20031
$118m
Dividends paid to
date
Consensus P/NAV – Compelling Valuation Opportunity2
1 As of February 22, 2018.
2 Source: Factset consensus estimates as of February 22, 2018
1.63
1.45
1.31 1.28 1.23 1.19
1.10 1.08 1.06 1.01 0.97 0.94
0.86 0.85 0.85
0.74
0.67
0.59 0.56
NEM
AEM
KL
BTO
Senior
Average
PAAS
OGC
ABX
G
Average
YRI
K
IMG
NGD
SMF
SSRM
AGI
DGC
THO
11. 11
Young‐Davidson – Flagship, Long‐Life Production
2016A 2017A 2018E
Gold Production (k oz) 170.0 200.0 200‐210
Cost of Sales1 (US$/oz) $1,087 $1,078 $1,075
Total Cash Costs2,3 (US$/oz) $657 $658 $675
Mine‐site AISC2,3 (US$/oz) $897 $834 $850
Total Capital (US$m) $95 $80 $70‐80
Mine‐site FCF2 (US$m) $4 $34
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 40,011 2.67 3,440
M&I Underground Resources 11,374 3.53 1,291
Inferred Underground Resources 3,528 2.74 311
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.
• One of Canada’s largest underground gold mines
• 14 year mine life based on YE 2017 mineral reserves
• Large resource base & exploration potential to support
mine life extension
• Significant Canadian dollar exposure; ~95% of costs
12. 12
$1,162
$1,087 $1,078 $1,075
2015A 2016A 2017A 2018E
$986 $897 $834 $850
2015A 2016A 2017A 2018E
2015A 2016A 2017A 2018E
‐31%
$34m
mine‐site free cash flow1 generated in 2017
Young‐Davidson – Ramp up of Underground Mining
‐14%+28%~6,600 tpd
Average underground mining rate in 2017
‐7%
>7,000 tpd
average underground mining rate expected in
2018
1 Please refer to Cautionary Notes on non‐GAAP Measures and Additional GAAP Measures.
2 Cost of sales includes mining and processing costs, royalties and amortization
Total Capital Spending (US$m)
Tonnes per day
g/t Au
Mine‐site AISC (US$/oz)1Production (000 oz)
Cost of Sales2 (US$/oz)
160 170
200 200‐210
2015A 2016A 2017A 2018E
$108
$95
$80 $70‐80
0
0.5
1
1.5
2
2.5
3
3.5
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Q1/13
Q2/13
Q3/13
Q4/13
Q1/14
Q2/14
Q3/14
Q4/14
Q1/15
Q2/15
Q3/15
Q4/15
Q1/16
Q2/16
Q3/16
Q4/16
Q1/17
Q2/17
Q3/17
Q4/17
Underground TPD Mill TPD Processed Grade
13. 13
Island Gold – High‐Grade, Low Cost Production
Location: Ontario, Canada Stage: Producing
Ownership: 100% interest Operation: Underground
Gold Reserves & Resources5 Tonnes
(000)
Grade
(g/t Au)
oz Au
(000)
P&P Underground Reserves 2,703 10.20 887
M&I Underground Resources 591 5.86 111
Inferred Underground Resources 2,958 9.55 908
Highly Productive Gold Mining District
2016A 2017A 2018E
Gold Production (k oz)1 83.3 98.6 90‐100
Cost of Sales2 (US$/oz) ‐ ‐ $1,175
Total Cash Costs3 (US$/oz) $587 $470 $575
Mine‐site AISC3 (US$/oz) $745 $599 $825
Total Capital4 (US$m) $43 $33 $50‐55
Mine‐site FCF3 (US$m) ($2) $26
1 Operating results from Island Gold prior to its acquisition has been included for comparative purposes. Production attributable to Alamos totals 9,000 oz
in 2017 following the closing of the Richmont Mines acquisition on Nov. 23, 2017.
2 Cost of sales includes mining and processing costs, royalties and amortization.
3 Please refer to Cautionary Notes on non‐GAAP Measures and Additional GAAP Measures.
4 Excludes exploration
5 See mineral reserve and resource estimates and associated footnotes in appendix.
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
• 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
15. 15
Island Gold – Growing in Size & Quality
EXPANSION CASE PEA AREA
EXPANSION CASE PEA AREA
Proven Reserves (2017)
Probable Reserves (2017)
Indicated Resources (2017)
Inferred Resources (2017)
Ramp and Actual Development
Mined Out
Similar grades seen down plunge to southeast as
were seen in early drilling within Expansion PEA
area. Area being targeted now is of similar size.
Dec 31, 2010 Dec 31, 2017
172 141 144 184
562
752
887
154 111
233 219
72
91
111
67
564
1,037 1,003
768
996
908
4
5
6
7
8
9
10
11
‐
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2011 2012 2013 2014 2015 2016 2017
+383%
Increase in mineral
reserves since 2014
+60%
Mineral reserve grade
increase since 2014
oz Au
Grade (g/t Au)
Mineral Reserves & Resources Over Time (koz)
1 See mineral reserve and resource estimates and associated footnotes in appendix.
2 Includes Proven & Probable reserves of 887,000 oz (2.7 mt at 10.20 g/t Au), Measured & Indicated resources of 111,000 oz (0.6 mt at 5.86 g/t Au) & Inferred resources of 908,000 oz (3.0 mt at 9.55 g/t Au)
200 m
200 m
Drill Hole Intersections
Au g/t / Core length (true width) m
Mineral Reserve grade
Reserves
M&I Resources
Inferred Resources
1,2
16. 16
Island Gold – Significant Ongoing Exploration Potential
‐ 1 000 m
‐ 500 m
620 m Level Planned
Exploration drift
190 m Level
340 m Level
Drillhole Intersection
Au (cut 225 g/t)
Drillhole Intersection
Au (cut 70 g/t)
860 m Level Planned
Exploration DriftDyke
740 m Level
Explo. & Delineation
Drift
W GOUDREAULOCHALSH ISLAND EXT1 EXT2
Crown pillar
ESurface
200 m
‐ 1 500 m
LC-415-04
23.00/2.27
MH10-1
9.71/2.42
MH9-1
6.79/2.31
MH10
4.82/3.22
MH11-3
(Dyked out)
MH11
13.32/12.18
MH11-2
9.38/4.27
MH11-1
8.07/7.03
620-574-23
8.86/3.53
620-574-32
13.57/2.31
620-574-39
6.83/3.63
620-574-21
8.41/2.46
620-574-17
9.14/2.69
340-586-21
20.15/2.44
MH9-3
(Dyked out)
MH1-11
(X zone)
20.78/1.28
MH1-10
24.54/3.76
MH7 (C zone)
2.35/3.53
MH7 (X zone)
17.85/1.68
MH2A-13
8.86/6.39
MH2A-12
11.67/9.42
MH8
4.60/2.24 MH8-4
19.85/8.40
GD-640-05
14.16/17.5 c.l.
GD-640-05-1
10.16/5.74 c.l.
GD-640-05-1
16.10/8.33 c.l.
GD-640-05-3
4.62/2.21
GD-640-05-5
58.34/0.43
GD-640-05-3
13.81/5.20 c.l.
740-465-63
10.58/5.44
840-533-12
15.39/3.17
840-533-05
13.98/2.93
840-529-42
4.71/7.60
840-529-35
19.35/4.14
740-465-45 (X Zone)
22.28/7.71
MH9-4
(Dyked out)
LC-15-04
5.12/3.53
620-574-36
6.44/3.10
Proven Reserves (2017)
Probable Reserves (2017)
Indicated Resources (2017)
Inferred Resources (2017)
Ramp and Actual Development
Mined Out
> 15
8.0 to 15.0
3.7 to 8.0
< 3.7
Drill Hole Intersections
Au g/t / true width (m)
c.l. : Core length (m)
All Exploration Intersections & all
2016-2018 Delineation Intersections
MH9-2
5.05/2.56
MH10-3
11.36/3.57
MH10-2
17.67/2.30
840-529-37
13.63/4.11840-529-43
24.75/4.04
MH9-3 (X Zone)
16.11/1.98
Mineralized
intercepts
not yet
included in
resource
calculations.
One area of
exploration
focus in
2018
Phase I Expansion
PEA Area
17. 17
Mulatos – Our Founding Operation
Location: Sonora, Mexico Stage: Producing
Ownership: 100% interest
Operation: Open pit, heap leach
& high grade mill
2016A 2017A 2018E
Gold Production (k oz) 154.0 160.0 150‐160
Cost of Sales1 (US$/oz) $1,088 $961 $950
Total Cash Costs2 (US$/oz) $838 $775 $800
Mine‐site AISC2 (US$/oz) $916 $835 $900
Total Capital3 (US$m) $33 $44 $26‐30
Mine‐site FCF2,4 (US$m) $27 $33
Gold Reserves & Resources5 Tonnes
(000)
Grade
(g/t Au)
oz Au
(000)
P&P Reserves 49,860 1.18 1,888
M&I Resources 74,958 1.13 2,731
Inferred Resources 10,278 0.97 322
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 2018 excludes capitalized exploration.
5 See mineral reserve and resource estimates and associated footnotes in appendix.
• Initial production 2005
• ~$400m of free cash flow1 generated to date
• Declining cost profile; 5% NSR royalty nearing completion
• Large underexplored land package (28,773 ha)
18. 18
220 259
778
879
47
115
156
236
‐
200
400
600
800
1,000
1,200
2014 2015 2016 2017
La Yaqui & Cerro Pelon
Mulatos – District Exploration Potential
1 See mineral reserve and resource estimates and associated footnotes in appendix.
2 Includes Proven & Probable reserves of 709,000 oz (15.8 mt at 1.40 g/t Au), Measured & Indicated resources of 109,000 oz (3.0 mt at 1.11 g/t Au) & Inferred resources of 9,000 oz (0.3 mt at 0.97 g/t Au) for La Yaqui and Proven & Probable
reserves of 170,000 oz (3.3 mt at 1.63 g/t Au), Measured & Indicated resources of 47,000 oz (0.6 mt at 2.56 g/t Au) & Inferred resources of 4,000 oz (0.1 mt at 1.23 g/t Au) for Cerro Pelon.
District potential
Large underexplored land package; >70% of past
drilling focused near Mulatos mine
Mulatos District
Mulatos mine
Proven & Probable Mineral Reserves
Inferred Mineral Resources
Measured & Indicated Mineral Resources
1,2
La Yaqui Phase I
La Yaqui Grande
879k oz
Combined mineral reserves1,2 at La Yaqui & Cerro
Pelon, a 300% increase since 2014
19. 19
El Chanate – Consistent Gold Producer
Location: Sonora, Mexico Stage: Producing
Ownership: 100% interest Operation: Open pit, heap leach
Gold Reserves & Resources4 Tonnes
(000)
Grade
(g/t Au)
oz Au
(000)
P&P Reserves – Open Pit 2,700 0.63 54
P&P Reserves – Leach Pad Inventory ‐ ‐ 80
M&I Resources 5,757 0.72 134
2016A 2017A 2018E
Gold Production (k oz) 68.0 60.4 40‐50
Cost of Sales1 (US$/oz) $1,177 $1,259 $1,270
Total Cash Costs2,3 (US$/oz) $1,052 $1,188 $1,200
Mine‐site AISC2,3 (US$/oz) $1,069 $1,218 $1,200
Total Capital (US$m) $1 $1 ‐
Mine‐site FCF2 (US$m) $5 $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.
• $3m site free cash flow2 generated in 2017
• $1,270/oz minimum realized gold price in 2018 with
production hedged5
• Significant free cash flow at end of mine life through residual
leaching
21. 21
Development: Kirazlı, Ağı Dağı & Çamyurt
Location: Turkey Stage: Development
Ownership: 100% interest Operation: Open pit, heap leach
• Kirazlı & Ağı Dağı EIAs approved
• Kirazlı Forestry Permits granted January 2017
• Kirazlı & Ağı Dağı feasibility studies completed February
20171 outlining 185% increase in combined after‐tax NPV8%
• Tax incentives & mining law supportive of industry
1 Please refer to press releases dated Feb 15 and Feb 22, 2017 regarding Kirazli & Agi Dagi feasibility studies & Camyurt preliminary economic assessment. The 185% increase is compared to the 2012 pre‐feasibility study
2 Please refer to Cautionary Notes on non‐GAAP Measures and Additional GAAP Measures.
>39%
After‐tax IRR for each of Kirazlı, Ağı
Dağı & Çamyurt1
Low cost, high return
growth
2017 Positive Economic Studies1
Kirazlı
Feasibility
Study
Ağı Dağı
Feasibility
Study
Çamyurt
PEA
Mine Life Years 5 6 4
Average Annual Production
oz Au 104,000 177,600 93,200
oz Ag 617,300 444,200 403,000
Average grade g/t Au 0.79 0.67 0.92
Mine‐site AISC2
US$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
26. 26
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
27. 27
2018 Guidance – Alamos
2018 Guidance 2017 Guidance
Young‐
Davidson
Island Gold Mulatos El Chanate Total Total
Gold production (000’s ounces) 200‐210 90‐100 150‐160 40‐50 480‐520 429 (actual)
Cost of Sales (in millions)(4) $220 $112 $147 $57 $536 $442
Cost of Sales ($ per ounce)(4) $1,075 $1,175 $950 $1,270 $1,075 $1,065
Total cash costs ($ per ounce)(1) $675 $575 $800 $1,200 $740 $765
All‐in sustaining costs ($ per ounce)(1) $950 $940
Mine‐site all‐in sustaining costs ($ per ounce)(1),(3) $850 $825 $900 $1,200 ‐ ‐
Capital expenditures (in millions)
Sustaining capital(1) $35‐40 $25‐27 $8‐10 ‐ $68‐77 $40‐47
Growth capital(1) $35‐40 $25‐28(2) $18‐20 (2) ‐ $78‐88 $65‐75
Total capital(1) $70‐80 $50‐55 $26‐30 ‐ $146‐165 $105‐122
Corporate & Administrative (in millions) $18 $16
1. Refer to the “Cautionary non‐GAAP Measures and Additional GAAP Measures” disclosure.
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
2018 Guidance 2017 Guidance
Sustaining Capital Growth Capital Total Total
Development Projects (in millions)
Turkey ‐ $100 $100 $4
Lynn Lake ‐ $8 $8 $9
La Yaqui Grande & Cerro Pelon ‐ $13 $13 ‐
Esperanza & Quartz Mountain ‐ $2 $2 $3
Total – Development Projects ‐ $123 $123 $16
Capitalized Exploration (in millions)
Island Gold ‐ $12 $12 ‐
Mulatos ‐ $7 $7 $15
Lynn Lake ‐ $4 $4 $4
Total – Capitalized Exploration ‐ $23 $23 $19
Total Consolidated Budget $68‐77 $224‐234 $292‐311 $140‐157
29. 29
2016 2017 2018 2019 2020
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 –
changeover to shaft bottom
• 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
34. 34
Island Gold – 2018 Drilling Program
Significant Exploration Potential at Depth and to the East
W E
200 m
PEA AREA
‐ 1 000 m
Surface
Surface Directional Drilling
Exploration (15,000m)
MH7 (X zone)
17.85/1.68
‐ 500 m
LC-415-04
17.31/1.78
GOUDREAULOCHALSH ISLAND EXT1 EXT2
Crown pillar21 Zone
UG (1,500m)
Shaft Zone
UG (3,500m)
340 & 620 levels
UG (15,000m)
840 Level
UG (8,000m)
RM & Access
UG (2,000m)
Proven Reserves (2017)
Probable Reserves (2017)
Indicated Resources (2017)
Inferred Resources (2017)
Ramp and Actual Development
Mined Out
Surface Directional
Drilling Infill (6,000m)
Exploration (10,000m)
36. 36
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
37. 37
Lynn Lake Feasibility Study – 2017
Feasibility Study Highlights ‐ December 2017
Production
Mine life (years) 10.4
Total gold production (000 ounces) 1,495
Total silver production (000 ounces) 1,263
Average annual gold production1
Years 1 to 6 (000 ounces) 170
Years 1 to 10 (000 ounces) 143
Total ore mined (000 tonnes) 26,803
Total waste mined (000 tonnes) 195,188
Total material mined (000 tonnes) 221,991
Waste‐to‐ore ratio2
7.28
Average grade (grams per tonne)
Gold 1.89
Silver 2.99
Recovery (%)
Gold (Average MacLellan and Gordon) 92%
Silver (MacLellan only) 49%
Average mill throughput (tonnes per day (“tpd”)) 7,000
Operating Costs
Total cost per tonne of ore3
$36.06
Total cash cost (per ounce sold)4
$645
Mine‐site all‐in sustaining cost (per ounce sold)4
$745
Capital Costs (millions)
Pre‐production capital expenditure $338.0
Sustaining capital expenditure $126.6
Reclamation costs $21.1
Total capital expenditure $485.6
Base Case Economic Analysis
IRR (after‐tax) 12.5%
NPV @ 0% discount rate (millions, after‐tax) $279.0
NPV @ 5% discount rate (millions, after‐tax) $123.4
Gold price assumption (average, per ounce sold) $1,250
Silver price assumption (average, per ounce sold) $16.00
Exchange Rate (US Dollar/Canadian Dollar) 0.75
1. Average annual production excludes pre‐commercial production
2. Reported waste‐to‐ore ratio is over the life of mine and includes overburden as waste. The waste‐to‐ore ratio during commercial production is 7.06:1
3. Total unit cost per tonne (“t”) of ore includes royalties and silver as a by‐product credit
4. Total cash costs and mine‐site all‐in sustaining costs include royalties and silver as a by‐product credit
41. 41
2017 Total Inferred Mineral Resources
INFERRED GOLD MINERAL RESOURCES (as at Dec 31, 2017)
Tonnes Grade Ounces
(000's) (g/t Au) (000's)
Young‐Davidson ‐ Surface 31 0.99 1
Young‐Davidson ‐ Underground 3,498 2.75 310
Total Young‐Davidson 3,528 2.74 311
Island Gold 2,958 9.55 908
Mulatos 8,804 0.92 261
San Carlos UG 162 4.93 26
La Yaqui 303 0.97 9
Cerro Pelon 109 1.23 4
Carricito 900 0.74 22
Total Mulatos 10,278 0.97 322
El Chanate 52 0.79 1
MacLellan ‐ Open Pit 750 1.62 39
MacLellan ‐ Underground 116 3.82 14
Gordon 615 1.30 29
Burnt Timber 23,438 1.04 781
Linkwood 21,004 1.16 783
Total Lynn Lake 45,923 1.11 1,646
Esperanza 718 0.80 18
Ağı Dağı 16,760 0.46 245
Kirazlı 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 127,903 1.17 4,791
INFERRED SILVER MINERAL RESOURCES (as at Dec 31, 2017)
Tonnes Grade Ounces
(000's) (g/t Ag) (000's)
La Yaqui Grande 303 5.80 57
MacLellan ‐ Open Pit 750 2.80 67
MacLellan ‐ Underground 116 3.43 13
Esperanza 718 15.04 347
Ağı Dağı 16,760 2.85 1,534
Kirazlı 5,689 8.96 1,638
Çamyurt 2,791 5.77 518
Alamos ‐ Total 27,126 4.79 4,174
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, 2017 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 Pits, 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 open pit 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 $1,250 per ounce and mineral resource estimates assumed a gold price of $1,400 per ounce. Metal prices, cut‐off grades and metallurgical recoveries are set
out in the table below.
• El Chanate reserve ounces include a December 31, 2017 inventory 80,300 recoverable ounces in the heap leach pad
Resources Reserves
Gold Price Cut‐off Gold Price Cut‐off 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 n/a
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 $1,400 4.0 $1,250 3.39‐3.94 96.5%
El Chanate $1,400 0.15 $1,250 0.15 30‐65%
Lynn Lake ‐ MacLellan $1,400 0.42 $1,250 0.47 91‐92%
Lynn Lake ‐ MacLellan Underground $1,400 2.0 n/a n/a n/a
Lynn Lake ‐ Gordon $1,400 0.62 $1,250 0.69 89‐94%
Esperanza $1,400 0.4 n/a n/a 60‐72%
Ağı Dağı $1,400 0.2 $1,250 see notes 80%
Kirazli $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%
Resources
Jeffrey Volk, CPG, FAusIMM Director ‐ Reserves and Resource, Alamos Gold Inc. Young‐Davidson, El Chanate, San Carlos U/G, Lynn Lake
Raynald Vincent, P.Eng., M.G.P. Chief Geologist ‐ Island Gold Island Gold
Marc Jutras, P.Eng Principal, Ginto Consulting Inc. Mulatos Pits, Cerro Pelon, La Yaqui, Carricito, Esperanza, Ağı Dağı, Kirazlı, Çamyurt, Quartz Mountain
Reserves
Chris Bostwick, FAusIMM VP Technical Services, Alamos Gold Inc. Young‐Davidson, El Chanate, San Carlos Underground, Lynn Lake
Leon LeBlanc, P.Eng Chief Engineer ‐ Island Gold Island Gold
Herb Welhener, SME‐QP VP, Independent Mining Consultants Inc. Mulatos Pits, Cerro Pelon, La Yaqui, Ağı Dağı, Kirazlı
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.