Alamos Gold Inc. reported new results from its underground exploration program at the Young-Davidson mine. Underground exploration drilling from the mid-mine intersected a new style of higher-grade gold mineralization in zones within the hanging wall of the Young-Davidson deposit. These zones are located between 10 and up to 200 metres (?m?) south of existing infrastructure and Mineral Reserves and Resources, highlighting the upside potential with grades intersected well above the current Mineral Reserve grade of 2.31 grams per tonne of gold (?g/t Au?).

Young-Davidson Hanging Wall Zones: high grade gold mineralization intersected within the hanging wall, in proximity to existing infrastructure and south of existing Mineral Reserves and Resources. This represents a new style of mineralization at Young-Davidson, hosted in hanging wall stratigraphy including a folded sequence of Timiskaming assemblage conglomerates and sediments. Gold mineralization is associated with 3-20% pyrite and occurs both as wide, low- to moderate-grade mineralization, and also within narrower, high-grade structures.

New highlights include: 9620-Level Drilling: 7.41 g/t Au over 22.00 m, including 15.84 g/t Au over 6.00 m (YMEX24-9620-143); 19.94 g/t Au over 4.55 m (YMEX24-9620-147); 21.86 g/t Au over 4.00 m (YMEX24-9620-147); 5.24 g/t Au over 9.00 m (YMEX24-9620-147); 9.07 g/t Au over 5.00m (YMEX24-9620-137); 4.70 g/t Au over 10.00 m (YMEX24-9620-143); 17.55 g/t Au over 2.00m (YMEX24-9620-142); and 4.13 g/t Au over 8.31m YMEX24-9620-141). 9500-Level Drilling: 10.73 g/t Au over 15.55 m (YM23-9500-107A). 2024 Exploration Drilling Program ?

Young Davidson: A total of $12 million has been budgeted for exploration at Young-Davidson in 2024, up from $8 million spent in 2023. This includes 21,600 m of underground exploration drilling, and 1,070 m of underground exploration development to extend drill platforms on multiple levels. The majority of the ongoing underground exploration drilling program will focus on extending mineralization within the Young-Davidson syenite, which hosts the majority of Mineral Reserves and Resources.

As part of the 2024 program, drilling was also planned to test gold mineralization in the hanging wall of the deposit where higher grades have been previously intersected. As of May 1, 2024, two exploration drills completed 9,610 m in 26 holes from the 9220 West exploration drift, 9025 East footwall drift, 9305 East transfer, and the 9620 Hanging wall drift. Drilling from 9025, 9305, and 9220 west is targeting syenite-hosted mineralization.

The 9620-level drilling is focused on testing for gold mineralization in the hanging wall sediments and mafic-ultramafic lithologies. Drilling from the 9025-level has also been successful at expanding gold mineralization within the syenite outside of current Mineral Reserves and Resources in the lower mine, in proximity to existing underground infrastructure. Hanging Wall Gold Mineralization: An objective of the 2024 underground exploration drilling program is to test for gold mineralization in the hanging wall from a drill bay established on the 9620-level.

This program is following up on gold mineralization that was intersected in surface drill holes completed between 2008 to 2010. These holes were collared south of Young-Davidson in the hanging wall, and drilled to the north, through the hanging wall. The surface holes were drilled to target the syenite-hosted mineralization, and as a result limited sampling was completed in the hanging wall lithologies at that time.

In addition, an underground definition drill hole completed from the 9500-level in the fourth quarter of 2023 intersected 10.73 g/t Au over 15.55 m (YM23-9500-107A) in a conglomerate, 93 m from the syenite-hosted Mineral Reserves and Resources. This definition hole had been extended into the hanging wall to test the potential for gold mineralization. Following up on this intersection from the 9500-level definition drill hole (YM23-9500-107A), as well as underground mapping on the 9620-level, and the previous 2008-2010 surface drillhole intersections, underground exploration drilling commenced in the first quarter of 2024 from the 9620-level drill bay.

To date, 13 holes totalling 4,591 m have been completed from the 9620-level. New highlights include: 9620-Level: 7.41 g/t Au over 22.00 m, including 15.84 g/t Au over 6.00 m (YMEX24-9620-143); 19.94 g/t Au over 4.55 m (YMEX24-9620-147); 1.02 g/t Au over 101.00 m (YMEX24-9620-136); 21.86 g/t Au over 4.00 m (YMEX24-9620-147); 5.24 g/t Au over 9.00 m (YMEX24-9620-147); 9.07 g/t Au over 5.00 m (YMEX24-9620-137); 4.70 g/t Au over 10.00 m (YMEX24-9620-143); 17.55 g/t Au over 2.00 m (YMEX24-9620-142); 4.13 g/t Au over 8.31 m (YMEX24-9620-141); and 1.75 g/t Au over 18.00m (YMEX24-9620-144). 9500-Level 10.73 g/t Au over 15.55 m (YM23-9500-107A).

Drilling is now underway from a drilling pad established to the east of the initial drilling on the 9620-level to continue to test for gold mineralization in the hanging wall, with the objective of better defining the extent, geometry, and continuity of the high-grade mineralization. In addition, a core relogging and sampling program is expected to commence in the second quarter of 2024, with a focus on evaluating the historic surface drilling in the hanging wall that had undergone limited sampling.