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Alamos Gold Extends High-Grade Mineralization Across Multiple Targets within Mulatos District Including PDA, Cerro Pelon, and New Discovery at Halcon

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Information

All amounts are in United States dollars, unless otherwise stated TORONTO, Jan. 21, 2026 (GLOBE NEWS...

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AI Summary

Alamos Gold Inc. reported significant advancements in gold mineralization at its Mulatos District projects, with promising results from Cerro Pelon and Halcon. The company's PDA project is on target for construction and initial production by mid-2027, expected to enhance gold reserves and boost production capacity significantly.

Sentiment Rationale

Alamos Gold's exploration successes typically correlate with increased investor confidence, evidenced by strong stock price movements following previous positive drill results.

Trading Thesis

Aggressive investment outlook as exploration success enhances growth potential for AGI in the near term.

Market-Moving

  • PDA's expected production launch in mid-2027 could enhance revenue streams.
  • Increased mineral reserves may attract investor interest and drive stock price.
  • High-grade mineralization in new drilling could lead to upward price adjustments.
  • Strategic investments in drilling can reduce future discovery costs considerably.

Key Facts

  • Alamos Gold's drilling extends high-grade gold mineralization in Mulatos District.
  • Cerro Pelon and Halcon show significant sulphide-hosted gold mineralization.
  • PDA project is on track for initial production by mid-2027.
  • Exploration drilling planned to resume as construction progresses.
  • Mineral reserves increased by 9% in 2024, totaling 1.1 million ounces.

Companies Mentioned

  • Alamos Gold Inc. (AGI): Positive exploration updates enhance growth outlook for Alamos.

Corporate Developments

This report falls under 'Corporate Developments' as it outlines Alamos Gold's significant progress in exploration and production strategies within its projects, strengthening its market positioning and financial outlook.

Alamos Gold Expands High-Grade Mineralization in Mulatos District

Toronto, January 21, 2026 - Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has announced substantial advancements in its exploration efforts within the Mulatos District, as ongoing surface drilling continues to extend high-grade gold mineralization at multiple sites, including Puerto Del Aire (PDA) and Cerro Pelon. The exploration results indicate promising yields from a newly identified area known as Halcon, which features significant sulphide-hosted gold mineralization.

Exploration Highlights from the Mulatos District

This latest exploration phase unveils substantial upside potential for the PDA project, with Cerro Pelon, Halcon, and La Yaqui Grande emerging as further sources of higher-grade sulphide ore for the planned milling operations. The construction of a mill dedicated to processing this high-grade sulphide ore is anticipated to advance the project, with initial production projected for mid-2027.

  • Cerro Pelon: Located nine kilometers from the PDA mill, the drilling here aims at defining new high-grade mineral resources. Key results include:
    • 5.60 g/t Au over 23.85 m
    • 6.58 g/t Au over 15.15 m
    • 12.95 g/t Au over 4.25 m
  • PDA: Drilling extends the high-grade gold mineralization beyond established Mineral Reserves, with highlights such as:
    • 13.64 g/t Au over 8.97 m
    • 15.00 g/t Au over 2.91 m
    • 43.70 g/t Au over 0.81 m
  • Halcon Target: Newly discovered significant sulphide-hosted gold intervals include:
    • 3.04 g/t Au over 47.60 m
    • 3.88 g/t Au over 19.00 m
    • 8.13 g/t Au over 10.20 m

Continued Focus on Higher-Grade Mineralization

John A. McCluskey, President and CEO of Alamos, emphasized the company's strategic pivot toward higher-grade sulphide mineralization, citing the identification of over a million ounces in Mineral Reserves at PDA and an initial Mineral Resource at Cerro Pelon. McCluskey remarked, “Ongoing success over the past year is expected to drive further resource growth at Cerro Pelon, highlighting both the significant upside opportunities and tremendous exploration potential across the Mulatos District.”

2025 Exploration Program Overview

In 2025, Alamos Gold allocated $20 million for exploration within the Mulatos District, maintaining a similar investment level to 2024. The extensive drilling program, totaling 56,117 meters across 170 holes, included:

  • 13,779 m at GAP-Victor and PDA targets
  • 21,394 m dedicated to Cerro Pelon
  • 20,944 m focused on regional exploration efforts

Future Development of the PDA Project

The PDA project, known for its high-grade underground deposits adjacent to the main Mulatos pit, is set to continue its developmental momentum with construction activities ramping up following an amended environmental permit in 2025. With an internal economic study indicating a low-cost, high-return model, the project remains on target for initial production by mid-2027.

Cerro Pelon continues to display significant exploratory potential, with the 2024 drilling campaign successfully defining an initial resource of 104,000 ounces, grading 4.49 g/t Au. This site remains crucial for the PDA project, located conveniently within trucking distance of the planned mill.

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