Alamos Gold Reports Delay in Renewal of Turkish Mining Concessions for Kirazli Project

Alamos Gold Inc. (“Alamos” or the “Company”) today reported that it has suspended all construction activities on its Kirazli project pending the renewal of its Turkish mining concessions which expired on October 13, 2019. Although the mining concessions have not been revoked and can be renewed following this expiration date, no further construction activities can be completed until the concessions have been renewed.

The Company has met all the regulatory requirements and conditions for the concessions to be renewed and reasonably expected the renewal by the expiration date. The communities local to the Kirazli project remain supportive. As such, the Company is working with the Turkish Department of Energy and Natural Resources on securing the renewal of the mining concessions which will allow for a resumption of construction activities. The renewal is required from the same government department that granted the Operating Permit for Kirazli in March 2019.

There has been false information about the project circulated through social media. The Company continues to share correct information about the project, and dispel misinformation which gave rise to protests and social media inaccuracies concerning the Kirazli project (see Kirazli fact sheet for more detail on the Company’s website at www.alamosgold.com).

Since 2010, Alamos has been working with the various government ministries and local communities as part of a multi-year environmental review and community consultation process. After earning the support of the local communities and passing a rigorous environmental review process, the Company was granted approval of all the major permits needed to build Kirazli including the Environmental Impact Assessment, Forestry Permits, GSM and Operating Permits.

Given the uncertainty around the timing of the concession renewal, initial production from Kirazli has been delayed from previous guidance of late 2020. The Company will provide updated guidance on the construction schedule and budget for Kirazli following the receipt of the concession renewal and resumption of construction activities.