Filed by Alamos Gold Inc.
Pursuant to Rule 425 under the Securities Act of 1933, as amended
Subject Company: Aurizon Mines Ltd.
Commission File Number: 333-186004
Date: February 26, 2013
ALAMOS GOLD INC.
February 2013 Corporate Presentation
Forward-Looking Statements and Disclaimer
Forward-Looking Statements
Certain statements contained in this presentation are forward-looking statements, including within the meaning of the United States Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. All statements other than statements of historical fact included herein, including, without limitation, statements regarding forecast gold production, gold grades, recoveries, waste-to-ore ratios, total cash costs, potential mineralization and reserves, exploration results, and future plans and objectives of Alamos Gold Inc. (“Alamos”), are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of mineral resource. A mineral resource that is classified as “inferred” or “indicated” has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an “indicated mineral resource” or “inferred mineral resource” will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves.
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”. Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Alamos’ expectations include risks related to the offer, fluctuations in the value of the consideration; integration issues; the effect of the offer on the market price of Alamos common shares; the exercise of dissent rights in connection with a compulsory acquisition or subsequent acquisition transaction; the liquidity of the Aurizon Mines Ltd. (“Aurizon”) common shares; risks associated with Aurizon becoming a majority-owned subsidiary of Alamos; differences in Aurizon common shareholder interests; the reliability of the information regarding Aurizon; change of control provisions; risks associated with obtaining governmental and regulatory approvals; failure to maintain effective internal controls; the liquidity of Alamos common shares on the New York Stock Exchange; and the effect of the offer on non-Canadian holders of Aurizon common shares, and risks related to the on-going business of Alamos, including risks related to international operations; the actual results of current exploration activities; conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold and silver, as well as those risk factors described in the section entitled “Risk Factors Related to the Offer” that is included in Alamos’ take-over bid circular dated January 14, 2013 and in the section entitled “Risk Factors” that is included in Alamos’ annual information form dated March 29, 2012. Although Alamos has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Disclaimers
This presentation is presented in conjunction with Alamos’ Registration Statement on Form F-10 (the “Registration Statement”) and Tender Offer Statement on Schedule TO (the “Tender Offer Statement”) as filed with the United States Securities and Exchange Commission (the “SEC”). The securities registered pursuant to the Registration Statement are not offered for sale in any jurisdiction in which such offer or sale is not permitted. You should only rely on the information contained in the offer and circular (the “Offer and Circular”) in each of the Registration Statement and the Tender Offer Statement. The information included in this presentation is only a summary and you should read the entire Offer and Circular carefully. The Registration Statement and the Tender Offer Statement are available on the SEC’s website at www.sec.gov.
This presentation does not constitute an offer to buy or the solicitation of an offer to sell any of the securities of Alamos or Aurizon.
Each of Alamos and Aurizon prepare 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 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 and Aurizon 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 each of Alamos and Aurizon, which have been filed with the SEC and the securities commissions or similar authorities in Canada).
All figures in US$ unless otherwise indicated.
ALAMOS GOLD INC.
2
We Expect Alamos to Remain…
A leader in growing low-cost production
A leader in financial performance
A leader in delivering shareholder value
Since its inception, Alamos has focused successfully on these three areas. They will remain fundamental to the Company’s growth.
ALAMOS GOLD INC.
3
A Strong Company Positioned to Lead
Low-cost, mid-tier gold producer
Met production guidance and increased production by 32% in 2012 to 200,000 ounces at a cash operating cost (pre-5% royalty) of $355/oz
Production guidance of 180,000-200,000 ounces Au in 2013; cash cost guidance of $415-$435/oz (pre-5% royalty)
Mexico (Sonora State): own and operate the Mulatos Mine
Acquired in 2003 for about $10 million; initial production in 2005
Turkey (Cannakale): advanced-stage development projects
Acquired in 2010 for $90 million; fast-tracking production for 2014
ALAMOS GOLD INC.
4
A Leader in Maintaining Low
Costs
First Quartile Cash Cost
Performance
Alamos Cash Margins Per Ounce
US $
$2,000 $1,600 $1,200 $800 $400
$76 $281 $259 $488 $637 $865 $1,111 $1,230
2005 2006 2007 2008 2009 2010 2011 2012
Cash Operating Cost Royalty (5%) Margin
2013 Average Cash Costs ($/oz) – Net of By-products
$882 $810 $750 $742 $731 $598 $577 $543 $500-$5201 $222
IAMGOLD
Osisko
Alacer
Randgold
Agnico-Eagle
Allied Nevada
Eldorado
AuRico
ALAMOS GOLD INC.
New Gold
Source: Analyst reports.
1 Based on Alamos guidance. Including royalties assuming a $1,700/oz Au price.
ALAMOS GOLD INC.
5
A Leader in Growing Production
Replacing Reserves Enables Production Growth
Reserves & Resources 1
2P Reserves
Measured & Indicated
Inferred
Au oz (millions)
10 8 6 4 2
1.92 1.69 2.05 2.39 2.39 2.39
1.58 1.93 1.66 3.18 4.40 4.98
0.59 0.45 1.04 1.56 0.92 1.59
2004 2007 2008 2009 2010 2011
Production
Production (k oz Au)
250 200 150 100 50
2006 2007 2008 2009 2010 2011 2012 2013E
1 Please refer to press releases dated March 27, 2012 and June 28, 2012 on the 2011 Mineral Reserves and Resources statement and Çamyurt initial mineral resource estimate, respectively
ALAMOS GOLD INC.
6
Mexico: Mulatos Mine Record Production in 2012
Open-pit, heap leach operation (100% ownership)
17,000 tpd throughput budgeted
500 tpd gravity mill for Escondida high-grade ore
Commenced operation in Q1 2012
Achieving design throughput and budgeted grades
Large exploration package (30,325 ha /117 sq. miles)
~56,000 m drill program in 2012 (completed)
+72,000 m drill program planned in 2013
ALAMOS GOLD INC.
7
Mexico: The High-Grade Story Continues
Cerro Pelon
Estrella
East Estrella
PdA
PdA Extension
El Salto/ Mina Vieja
Escondida
Gap
El Victor
San Carlos
February 2012
LEGEND
Mineralized trends
+1 opt intercepts
8
Mexico: San Carlos
Potential to Double High-Grade
Mill Feed
‘In-pit’ high-grade mineral reserves:
649,000 tonnes @ 7.67 g/t Au1
N
500m
San Carlos Pit
High-gold grade structural trend
12SC182
6.09 m / 12.850
17.55 m / 3.839
12SC178
4.65 m / 7.729
12SC177
12SC178B
17.3 m / 5.154
2011 Reserve pit outline
Drill collar, with assay interval
Drill collar
4.65 m / 7.729 Assay Interval (drilled meters / Au grams per tonne)
9
1 Please refer to press release dated February 21, 2013, Alamos Gold Reports Fourth Quarter and Year-end 2012 Results, and press release dated March 27, 2012 on 2011 Mineral Reserves and Resources statement
Mexico: El Victor
Overhead View
N
50.80 m / 1.735
76.22 m / 2.04 12EV248
12EV242
12EV289
27.44 m / 1.304
Mineralized Trend
2011 Reserve pit outline
Drill collar, with assay interval
Drill collar
4.65 m / 7.729 Assay Interval (drilled meters / Au grams per tonne)
Please refer to press release dated February 21, 2013, Alamos Gold Reports Fourth Quarter and Year-end 2012 Results
10
Mexico: El Victor
Potential Reserve Pit Expansion
N
1150 m
12EV198
12EV182
12EV180
12EV171
12EV210
12EV170
Planned Reserve Pit Outline (2011)
1050 m
45.7 m @ 1.59 g/t Au
35.1 m @ 1.86 g/t Au
35.1 m @ 6.43 g/t Au
950 m
Intercepts > 0.35 grams per tonne Au
0 40 m
11
Turkey: Low-Cost Production Growth
Canakkale
Akbaba
Kartaldag
TV Tower
Karlncall
Kirazli
Kirazli
Rock Pile
Catalkaya
Kale
Iri
Pirentepe
Halilaga Cu
Etili
Can Coal Mine
Coal Power Plant
Can
Agi Dagi
Ayitepe
Tavsan
Ihlamur
Deli
Baba
Fire Tower
Planned Water Reservoir
Camyurt
Legend
City or Town
Alamos Mineral Claim
Gold Occurrence
Major Roads
Can Coal Mine
Scale
0 km 4 km
12
Turkey: Aği Daği and Kirazli
Path To Production
Acquired
projects
Positive
Pre-feasibility
Study1,2
IRR: 22.3%3
NPV5%: $276M3
Environmental
Impact Assessment
responses
First gold pour
at Kirazli
First gold
pour at Aği
Daği
2010
2011
2012
2013
2014
2015
2016
Permitting and construction period
M&I - 2.2Moz Au3
Pit-constrained inferred - 213,000oz Au3
Çamyurt inferred - 640,000 oz Au3
1 Initial capex of $424.4M (including $63M contingency), internally funded
2 At $1,239/oz Au and $24.56/oz Ag, after-tax IRR and NPV are 22.3% and $276M, respectively. At $1,575/oz Au and $27/oz Ag, after-tax IRR and NPV are 36.5% and $604.6M, respectively
3 Please refer to press release dated June 28, 2012 on Turkey PFS and Çamyurt initial mineral resource estimate. Çamyurt resource not included in PFS.
ALAMOS GOLD INC.
13
Turkey: Kirazli and Aği Daği1,2,3
Çamyurt Would Enhance Robust
Aği Daği and Kirazli Mine Plan
Au
oz
(000)
250
200
150
100
50
Kirazli
Aği Daği
LOM total production: 1.5Moz Au
Combined annual production:
166,000 oz Au
545,000 oz Ag
2014E
2015E
2016E
2017E
2018E
2019E
2020E
2021E
2022E
2023E
1 Please refer to press release dated June 28, 2012 on Turkey PFS and Çamyurt initial mineral resource estimate
2 Not shown: 4.9M oz of silver production over nine-year mine life
3 Cash costs (by-product) $544/oz excluding 1.5% royalty payable to Turkish government and 2% royalty on the Aği Daği project payable to Franco-Nevada
ALAMOS GOLD INC.
14
Turkey: Çamyurt
Significant Opportunity to Boost
Project Economics
640,000 oz @ 0.81 g/t Au1 pit-constrained inferred resources
Higher grades = chance to reduce combined operating cost
Capex synergy – Çamyurt may substantially utilize existing Aği Daği infrastructure
151.2 m @
1.62 g/t Au
11CYD39
11CYD34
11CYD17
11CYD16
550m
185.7 m @
1.60 g/t Au
11CYD14A
11CYD14
36.5 m @
3.2 g/t Au
11CYD28
11CYD33
11CYD10
11CYD40
11CYD15
11CYD15A
11CYD09
11CYD01
450 m
Resource cone outline (2012)
Intercepts > 0.2 grams per tonne Au
Çamyurt long section
0 40m
350 m
1 Please refer to press release dated June 28, 2012 on Turkey PFS and Çamyurt initial mineral resource estimate
15
Succeeding in Turkey
An Alignment of Interests
Turkey Needs Mining
Government calls mining a key to economic growth
New Mining Law 2010; New Commercial Code 2012
2011 current account deficit 9.9% of GDP
New investment system promotes foreign direct investment
Tax incentive became law in June 2012
Alamos expects to qualify for 80% reduction in corporate tax rate
Corporate tax rate 4%, until savings cap of 40% of capex reached
Earning our social license
Generations have consumed substandard, unhealthy water (acidic; high alumina)
Reservoir: process water for operations, potable water for communities
Finalizing water protocol – planned commissioning in 2014; PFS Plan1: Capex $32M
1 Please refer to “NI 43-101 Technical Report Kirazli and Aği Daği Gold Project” dated July 31, 2012
ALAMOS GOLD INC.
16
A Leader in Financial Performance
Revenue ($ millions)
$329.4
$227.4
$189.3
$171.4
$133.0
2008
2009
2010
2011
2012
Earnings ($ millions)
$118.0
$56.0
$63.8
$60.1
$29.4
2008
2009
2010
2011
2012
Cash Balance ($ millions) 1
$353.7
$222.6
$186.9
$188.2
$43.8
2008
2009
2010
2011
2012
Cash Flow from Operations ($ millions) 2
$184.6
$106.5
$94.6
$89.6
$65.8
2008
2009
2010
2011
2012
1Cash and cash equivalents and short-term investments as reported in the Company’s Statements of Financial Position.
2After changes in working capital.
ALAMOS GOLD INC.
17
A Financially Strong Company
Robust, Clean Balance Sheet
Cash & Equivalents1
> US$ 360 million
Working Capital1
> US$ 385 million
Debt
None
Gold Hedging
None
Semi-Annual Dividend
US$0.10/share
Shares Outstanding1
127.5 million
Employee Options1
4.8 million
Fully Diluted
132.3 million
Recent Share Price (TSX)2
C$14.50
Market Capitalization
~ C$1.8 billion
1 Unaudited - management’s estimate as of February 22, 2013.
2 As of February 22, 2013.
ALAMOS GOLD INC.
18
A Leader in Delivering Shareholder Value
AGI 10-year Price Performance
2,500%
Percentage
2,000%
Growth
1,500%
1,000%
500%
0%
2003
2005
2007
2009
2011
2013
AGI Gold Spot
Dividend Growth Per Share
$ 0.10
$ 0.10
$ 0.10
$0.07
$0.05
$ 0.05
$0.04
$0.03
Apr ‘10
Oct ‘10
Apr ‘11
Oct ‘11
Apr ‘12
Oct ‘12
ALAMOS GOLD INC.
19
Appendices
ALAMOS GOLD INC.
20
Mulatos Alteration Map
La Chipriona Pb-Zn-Ag
La Cieneguita
Ostimuri Ag
La India
El Realito
La Viruela
La Cruz
El Jaspe
Juliana
Escondida
La Dura
Zaragosa
Los Bajios Cu
El Halcon Cu
La Yaqui
El Carricito
Mina Vieja
C. Pelon
Gap
El Victor
San Carlos
PdA Extension
Puerto Del Aire (PdA)
Mulatos Deposit
Las Carboneras
San Nicolas
La Palma
Image 2011 DigitalGlobe
2011 Cnes/Spot Image
Image 2011 GeoEye
28 38’27.69” N 108 48’06.85” W elev 5154 ft
LEGEND
Silicic Alteration
Argillic Alteration
Propylitic Alteration
Gold Occurrence
Alamos Mineral Claim
0 Km
Scale
4.0 Km
21
San Carlos
The High-Grade Story Continues
Potential to double high-grade mill feed for gravity mill
‘In-pit’ mineral reserves: 649,000 tonnes @ 7.67 g/t Au1
Recent drilling highlights2: 7.729 g/t Au over 4.65 m (12SC177) 3.839 g/t Au over 17.55 m, including 10.517 g/t Au over 4.15 m (12SC178) 5.154 g/t Au over 17.3 m (12SC178B) 12.850 g/t Au over 6.09m, including 24.325 g/t Au over 3.04m (12SC183)
High-grade ore amenable to gravity separation
Gravity plus leach recovery3,4 70% and 78%, +15-20% higher than leaching alone
1 Please refer to press release dated March 27, 2012 on 2011 Mineral Reserves and Resources statement
2 Please refer to press release dated February 21, 2013, Alamos Gold Reports Fourth Quarter and Year-end 2012 Results
3Based on preliminary metallurgical testing of two high-grade composite samples. Potential to improve recovery rates exists and will be evaluated in the next phase of testing 4 Please refer to press release dated June 21, 2011 on San Carlos metallurgical testing results
ALAMOS GOLD INC.
22
San Carlos: Cross Section NW
Underground Mining Optimization
Mineral reserve pit shell (2011) Underground model Underground access
0.0 - 0.2 gpt Au
0.2 - 0.5 gpt Au
0.5 - 1.0 gpt Au
1.0 - 2.0 gpt Au
2.0 - 5.0 gpt Au
5.0 - 10.0 gpt Au
> 10.0 gpt Au
23
El Victor
Reserve and Resource Growth
Potential to expand reserves along and across trend
Silica alteration identical to El Victor deposit
Believed to be northern extension of El Victor reserves
Extends pit north and west of present pit limits
Recent drilling highlights1: 2.040 g/t Au over 76.22 m (12EV242) 1.735 g/t Au over 50.80 m (12EV248) 1.304 g/t Au over 27.44 m and 1.725 g/t Au over 30.49 m (12EV289)
1 Please refer to press release dated February 21, 2013, Alamos Gold Reports Fourth Quarter and Year-end 2012 Results
ALAMOS GOLD INC.
24
Turkey Pre-feasibility (PFS)
Highlights1
Strong Future Cash Flow Generation
Highlights
Value
LOM production (combined 9-year mine life)
1.5M oz Au
4.9M oz Ag
Combined annual production
166,000 oz Au
545,000 oz Ag
Cash costs (by-product)
$544/oz2
$8.60/tonne of ore
Capital expenditure
Initial: $424.4M
Internally financed through cash on
(including $63M contingency)
balance sheet and future cash flows
Sustaining: $26.9M
640K3 oz NOT included in PFS
Çamyurt
PFS incorporates significant
capex that will benefit
Çamyurt economics
1 Please refer to press release dated June 28, 2012 on Turkey PFS and Çamyurt initial mineral resource estimate
2 Excluding 1.5% royalty payable to the Turkish government and 2% royalty on the Ağı Dağı project payable to Franco-Nevada
3 Inferred mineral resources, pit-constrained
ALAMOS GOLD INC.
25
Turkey PFS Highlights1
Robust Project Economics
AFTER TAX NPV(millions)
Discount Rate (%)
Ağı Dağı
Kirazlı
Combined
0%
$258.3
$214.2
$472.5
3%
$167.7
$175.9
$343.6
5%
$121.5
$154.1
$275.6
10%
$40.9
$109.8
$150.7
Spot 2(@ 5% discount)
$362.2
$242.4
$604.6
AFTER TAX IRR (%)
Silver Price
Gold Price (per oz)
(per oz)
$1,000
$1,200
$1,500
$1,800
$2,000
$15.00
1.5%
16.6%
31.2%
44.3%
54.6%
$20.00
2.3%
17.4%
32.0%
46.7%
55.8%
$22.50
5.6%
17.8%
32.4%
47.3%
56.4%
$25.00
6.0%
18.2%
32.8%
47.9%
57.1%
$30.00
6.9%
19.1%
33.6%
49.1%
58.3%
1 Please refer to press release dated June 28, 2012 on Turkey PFS and Çamyurt initial mineral resource estimate
2 Based on $1,575/oz Au and $27.00/oz Ag
ALAMOS GOLD INC.
26
Turkey PFS Highlights1
Pit-Constrained Inferred Ounces
Could Boost Production
213,000 oz Au mineable, pit-constrained inferred mineral ounces
Classified as waste in PFS due to insufficient drill spacing
Kirazlı
53,000 inferred ounces
Baba pit
Ağı Dağı
Deli pit
160,000 inferred ounces
Inferred mineral ounces (pit-constrained)
Measured mineral ounces Indicated mineral ounces
Pit outlines not to scale
1 Please refer to press release dated June 28, 2012 on Turkey PFS and Çamyurt initial mineral resource estimate
ALAMOS GOLD INC.
27
ADR Plant
Leach pad
Crushers
Waste Dump
Deli pit
Baba pit
Ağı Dağı Project: Site Plan
Alteration Types
Propylitic
Argilic
Advanced Argilic
Silicic
PFS pit outline
Mineral resource cones
Camyurt
1km
28
Kirazlı Project: Site Plan
Kirazlı pit
SILICIC
Crushers
Waste Dump
Leach pad
ADVANCED ARGILLIC
ARGILLIC
ADR Plant
Alteration Types
Argilic
Advanced Argilic
Silicic
PFS pit outline
Mineral resource cones
1.0km
29
Ağı Dağı and Kirazlı
Excellent Infrastructure
Sea port
Power lines
Kirazli Hill
Paved roads and power lines
Access to power grid
ALAMOS GOLD INC.
30
Turkey EIA Process
Environmental Impact Assessment (EIA) Application File is prepared and submitted to the Ministry of Environment and Forestry (Ministry)
The Ministry examines EIA Application File for compliance with the format specified in the EIA Regulation and establishes the Review Commission
Public Participation Meeting (published in newspaper at least 10 days before) and Special Format
Submission of EIA report to the Ministry (within 1 year maximum)
The Ministry examines the EIA report for compliance with the Special Format
Review Commission examines and assess the EIA report “Final EIA Report” is submitted to the Ministry “Final EIA Report” is made available for public comment EIA Decision by the Ministry
EIA modified and
EIA Approved
resubmitted to meet
AGI Goal: Q1-13 Kirazlı
recommendations
Q2-13 Agi Dagi
provided by the Ministry
31
2011 Mulatos Mineral Reserves
PROVEN AND PROBABLE RESERVES(1)
Proven(2)
Probable(2)
Proven + Probable(2)
Reserve
Tonnes
Grade
Contained
Tonnes
Grade
Contained
Tonnes
Grade
Contained
Area
(000s)
(g/t Au)
Ounces Au
(000s)
(g/t Au)
Ounces Au
(000s)
(g/t Au)
Ounces Au
Mulatos Mine(3),(4),(5)
8,626
1.55
423,659
48,788
0.98
1,527,442
57,414
1.08
1,951,101
Existing Stockpiles
3,347
2.01
216,550
-
-
-
3,347
2.01
216,550
La Yaqui Pit(6)
-
-
-
1,574
1.58
79,826
1,574
1.58
79,826
Cerro Pelon Pit(7)
-
-
-
2,673
1.64
140,525
2,673
1.64
140,525
TOTAL
11,973
1.66
640,209
53,035
1.03
1,747,793
65,008
1.14
2,388,002
(1) The Company’s mineral reserves as at December 31, 2011 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 National Instrument 43-101 requirements.
(2) Tonnes are rounded to the closest “000s” and grades are rounded to the closest “0.00”s.
(3) The mineral reserve estimate for the Mulatos Mine incorporates the Estrella, Escondida, Puerto del Aire, El Salto, Mina Vieja, El Victor, and San Carlos areas.
(4) Mineral reserve gold cut-off grade for the Mulatos Mine is determined as a net of process value of $0.10 per tonne for each model block. The determination was based on an $1,150 per ounce gold price, a December 2011 resource and recovery model, and the 2012 budget costs based on the actual cost figures from current mining operations.
(5) Pit-contained mineral reserves for the Escondida high-grade zone are 434,000 tonnes grading 11.81 g/t Au for 164,792 ounces and San Carlos highgrade is 649,000 tonnes grading 7.67g/t Au for 160,043 ounces.
(6) Mineral reserve gold cut-off grade for the La Yaqui Pit is a 0.30 g/t gold. The determination was based on an $800 per ounce gold price, a May 2009 resource model, gold recovery at the current mining operations, and the 2010 budget costs based on the actual cost figures from current mining operations.
(7) Mineral reserve gold cut-off grade for the Cerro Pelon Pit is determined as a net of process value of $0.10 per tonne, for each model block. The determination was based on an $800 per ounce gold price, a November 2009 resource model, gold recovery at the current mining operations, and the 2010 budget costs based on the actual cost figures from current mining operations
ALAMOS GOLD INC.
32
2011 Mulatos Mineral
Resources
MEASURED AND INDICATED, AND
INFERRED MINERAL RESOURCES
Measured(1),(2),(3)
Indicated(1),(2),(3)
Measured + Indicated(1),(2),(3)
Inferred Resources(1),(3)
Cut-off Grade
Tonnes
Grade
Contained
Tonnes
Grade
Contained
Tonnes
Grade
Contained
Tonnes
Grade
Contained
(g/t Au)
(000s)
(g/t Au)
Ounces Au
(000s)
(g/t Au)
Ounces Au
(000s)
(g/t Au)
Ounces Au
(000s)
(g/t Au)
Ounces Au
2.0
699
4.17
93,704
4,948
3.38
537,036
5,647
3.47
630,740
794
3.14
80,207
1.5
1,214
3.13
122,109
9,419
2.59
784,025
10,633
2.65
906,134
1,848
2.33
138,669
1.0
2,595
2.11
175,662
21,536
1.81
1,251,513
24,131
1.84
1,427,175
3,880
1.74
217,561
0.7
4,816
1.51
234,049
43,913
1.31
1,848,584
48,729
1.33
2,082,633
8,043
1.27
327,780
0.5
7,818
1.16
290,657
77,173
1.00
2,475,562
84,991
1.01
2,766,219
17,432
0.90
506,031
0.3
13,197
0.85
361,974
147,200
0.71
3,356,485
160,397
0.72
3,718,459
37,488
0.63
755,141
(1) The updated mineral resource estimate incorporates the Estrella, Escondida, Puerto del Aire, El Salto, Mina Vieja, El Victor, and San Carlos areas. (2) In-pit measured and indicated mineral resource blocks are exclusive of pit-contained reserves.
(3) Measured, indicated, and inferred mineral resources outside of the Mulatos Mine have no economic restrictions and are tabulated by gold cut-off grade.
ALAMOS GOLD INC.
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2011 Turkey Mineral Resources
MEASURED AND INDICATED AND
INFERRED MINERAL RESOURCES(1)
Measured and Indicated Mineral Resources(2)
Inferred Resources(3)
Resource Area
Tonnes
Grade
Grade
Contained
Contained
Tonnes
Grade
Grade
Contained
Contained
(000s)
(g/t Au)(3)
(g/t Ag)
Ounces Au
Ounces Ag
(000s)
(g/t Au)(3)
(g/t Ag)
Ounces Au
Ounces Ag
Ağı Dağı
79,366
0.59
3.32
1,509,804
8,478,675
20,861
0.53
2.86
355,793
1,920,374
Kirazlı
30,748
0.71
8.49
706,437
8,392,499
5,575
0.52
9.95
93,288
1,783,621
Çamyurt(4)
24,557
0.81
4.77
639,531
3,766,129
TOTAL
110,114
0.62
4.76
2,216,241
16,871,174
50,993
0.66
4.55
1,088,612
7,470,124
(1) The economic cut-off grade is 0.2 g/t Au
(2) Measured and indicated resource for the Ağı Dağı project (which includes the Baba, Ayitepe, Deli, and Fire Tower zones) and the Kirazlı project are pit-constrained, include oxide and transition material only (no sulphide), with cut-off determined as a net of process value of $0.10 per tonne, for each model block. The determination was based on a US$1,250 per ounce gold price and a US$22.50 per ounce silver price, a March 2012 resource model, average pit slope angle of 38, and estimated costs and recoveries based on Pre-feasibility study specifications. The resources were then tabulated by gold cut-off grade.
(3) Inferred resource for the projects at Kirazlı and Ağı Dağı (which includes the Baba, Ayitepe, Deli, and Fire Tower zones) are pit-constrained, include oxide and transition material only (no sulphide), with cut-off determined as a net of process value of $0.10 per tonne, for each model block. The determination was based on a US$1,250 per ounce gold price and a US$22.50 per ounce silver price, a March 2012 resource model, average pit slope angle of 380, and estimated costs and recoveries based on Pre-feasibility study specifications. Resources were then tabulated by gold cut-off grade. Inferred resources for the Çamyurt project are pit-constrained, using a $1,250 per ounce gold price, a 60:1 Ag:Au value ratio (Au equivalent = Au + ((Ag/60) x Ag recovery)), an average pit slope angle of 45, estimated costs based on the Pre-feasibility study, and recoveries for Au and Ag based on grade ranges (refer to Table 1 of Alamos press release dated June 28, 2012). Only oxide and transition material (no sulphide) were considered in the pit run.
(4) Initial inferred mineral resources published on June 28, 2012.
ALAMOS GOLD INC.
34
Jo Mira Clodman
Vice President, Investor Relations 416.368.9932 x 401 jmclodman@alamosgold.com