alamos acquisition of richmont presentation final

1

September 11, 2017

Leading Intermediate Gold Producer

2

Cautionary Statements

This presentation, the information contained herein, any other materials provided in connection with this presentation and any oral remarks accompanying this presentation (collectively, this “Presentation”) has been prepared by Alamos Gold Inc. (“Alamos”) solely for information purposes concerning a potential transaction (a “Potential Transaction”) involving Alamos and Richmont Mines Inc. (“Richmont”). No Stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein. This presentation does not constitute an offering of securities and the information contained herein is subject to the information contained in the Company’s continuous disclosure documents at www.sedar.com.

Cautionary Notes

Certain statements in this presentation are “forward-looking statements”, including within the meaning of applicable laws. All statements other than statements of historical fact included in this presentation, including, without limitation, statements regarding the timing and closing of the Proposed Transaction, statements regarding synergies resulting from the Proposed Transaction, statements regarding the effect of the Proposed Transaction on Alamos’ net asset value, operating cash flow, free cash flow, forecast gold production, reserves, resources, gold grades, recoveries, waste-to-ore ratios, total cash cost, all-in sustaining costs, debt levels and future plans and objectives of Alamos are forward-looking statements based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management that involve various risks and uncertainties. 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.” Alamos cautions that forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Alamos’ actual results, performance or achievements to be materially different from those expressed or implied by such information, including, but not limited to, that the Proposed Transaction is completed on terms and timeframe contemplated; failure to obtain shareholder approval of Alamos or Richmont; failure to obtain the necessary regulatory and other approvals; conditions to the Proposed Transaction may not be satisfied; anticipated synergies and other benefits of the Proposed Transaction may not be realized; gold and silver price volatility; fluctuations in foreign exchange rates and interest rates; the impact of any hedging activities; discrepancies between actual and estimated production, between actual and estimated reserves and resources or between actual and estimated metallurgical recoveries; costs of production; capital expenditure requirements; the costs and timing of construction and development of new deposits; and the success of exploration and permitting activities. In addition, the factors described or referred to in the section entitled “Risk Factors” in Alamos’ Annual Information Form for the year ended December 31, 2016, which is available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this presentation. Although Alamos has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking information.

Market data and other statistical information used throughout this Presentation are based on internal company research, independent industry publications, government publications, reports by market research firms or their published independent sources. Industry publications, governmental publications, market research surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable. Although Alamos believes such information is accurate and reliable, it has not independently verified any of the data from third party sources cited or used for our management’s industry estimates, nor has Alamos ascertained the underlying economic assumptions relied upon therein. While Alamos believes internal company estimates are reliable, such estimates have not been verified by any independent sources, and Alamos makes no representations as to the accuracy of such estimates.

Note to U.S. Investors

Alamos prepares 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 Unites States Securities and Exchange Commission (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 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 Alamos, which have been filed with the SEC and the securities commissions or similar authorities in Canada).

3

Cautionary Statements

Cautionary non-GAAP Measures and Additional GAAP Measures

Note that for purposes of this section, GAAP refers to IFRS. The Company believes that investors use certain non-GAAP and additional GAAP measures as indicators to assess gold mining companies. They are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared with GAAP.

“Cash flow from operating activities before changes in non-cash working capital” is a non-GAAP performance measure that could provide an indication of the Company’s ability to generate cash flows from operations, and is calculated by adding back the change in non-cash working capital to “Cash provided by (used in) operating activities” as presented on the Company’s consolidated statements of cash flows. “Free cash flow” is a non-GAAP performance measure that is calculated as cash flows from operations net of cash flows invested in mineral property, plant and equipment and exploration and evaluation assets as presented on the Company’s consolidated statements of cash flows and that would provide an indication of the Company’s ability to generate cash flows from its mineral projects. “Mine site free cash flow” is a non-GAAP measure which includes cash flow from operating activities at, less capital expenditures at each mine site. Return on Equity is defined as Earnings from Continuing Operations divided by the average Total Equity for the current and previous year. “Mining cost per tonne of ore” and “Cost per tonne of ore” are non-GAAP performance measures that could provide an indication of the mining and processing efficiency and effectiveness of the mine. These measures are calculated by dividing the relevant mining and processing costs and total costs by the tonnes of ore processed in the period. “Cost per tonne of ore” is usually affected by operating efficiencies and waste-to-ore ratios in the period. “Total cash costs per ounce”, “all-in sustaining costs per ounce”, and “mine-site all-in sustaining costs” as used in this analysis are non-GAAP terms typically used by gold mining companies to assess the level of gross margin available to the Company by subtracting these costs from the unit price realized during the period. These non-GAAP terms are also used to assess the ability of a mining company to generate cash flow from operations. There may be some variation in the method of computation of these metrics as determined by the Company compared with other mining companies. In this context, “total cash costs” reflects mining and processing costs allocated from in-process and dore inventory associated and associated royalties with ounces of gold sold in the period. Total cash costs per ounce are exclusive of exploration costs. “All-in sustaining costs per ounce” include total cash costs, exploration, corporate and administrative, share based compensation and sustaining capital costs. “Mine-site all-in sustaining costs” include total cash costs, exploration, and sustaining capital costs for the mine-site, but exclude an allocation of corporate and administrative and share based compensation.

Additional GAAP measures that are presented on the face of the Company’s consolidated statements of comprehensive income and are not meant to be a substitute for other subtotals or totals presented in accordance with IFRS, but rather should be evaluated in conjunction with such IFRS measures. This includes “Earnings from operations”, which is intended to provide an indication of the Company’s operating performance, and represents the amount of earnings before net finance income/expense, foreign exchange gain/loss, other income/loss, and income tax expense. Non-GAAP and additional GAAP measures do not have a standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures presented by other companies. A reconciliation of historical non-GAAP and additional GAAP measures are available at www.alamosgold.com.

Technical Information

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.

Daniel Adam, P. Geo., Ph.D., Vice-President, Exploration, and Leon LeBlanc, P. Eng., Chief Engineer, Island Gold, both employees of Richmont, have reviewed and approved the scientific and technical information regarding Richmont and its projects contained in this presentation. Daniel Adam and Leon LeBlanc are Qualified Persons within the meaning of NI 43-101.

All figures in US$ unless otherwise indicated.

http://www.alamosgold.com/

4

Call Participants

John A. McCluskey President and Chief Executive Officer

Jamie PorterChief Financial Officer

Peter MacPhailChief Operating Officer

Robert ChausseChief Financial Officer

Renaud AdamsPresident and Chief Executive Officer

5

Transaction Highlights

Improved operating and free cash flow generation to support peer leading growth pipeline

• Immediate cash flow accretion and stronger operating cash flow to support internal growth initiatives

Stronger financial position and flexibility

• Debt free balance sheet

• Higher combined cash position of approximately US$2292 million to support internal growth initiatives

Revaluation opportunity through enhanced capital markets profile

• Top 10 Canadian and North American gold producer3 with nearly 60% of production coming from Canada

• Expected corporate, tax and other synergies with two underground mines in Ontario

• Increased trading liquidity

Superior production growth and cost profile

• Island Gold’s near term production growth complements existing peer leading growth profile, while lowering near and long term

cost profile of combined company

Solidifies position as leading intermediate gold producer

• Combined diversified gold production of over 500 koz expected in 2017 at all-in sustaining costs1 of ~$900/oz

• Solid long term foundation anchored by three core, low cost, long-life operations in Canada and Mexico

1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.2 Cash balance shown as at June 30, 2017 and includes equity securities.3 Based on Wood Mackenzie 2018E estimates for Island Gold and estimates of corporate production in Canada, the United States, and Mexico.

Acquisition of a high quality, free cash flowing asset in a world class jurisdiction

• Island Gold is a long-life, high-grade, low-cost underground gold mine located in Ontario, Canada

• Current expansion will see production increase, costs decrease and further free cash flow growth

6

Transaction Summary

Proposed Transaction

• Alamos Gold Inc. (“Alamos”) to acquire Richmont Mines Inc. (“Richmont”) via a Plan of Arrangement• Implied equity value of US$770 million1 (C$936 million)• Implied enterprise value of US$683 million1 (C$830 million)• Pro forma ownership: 77% Alamos / 23% Richmont1

Consideration• 1.385 Alamos shares per common share of Richmont• 22% premium to Richmont’s closing price on September 8, 2017• 32% premium based on Richmont and Alamos’ 20-day volume-weighted average prices2

Conditions• Richmont shareholder vote (66⅔% of shareholder votes cast)• Alamos shareholder vote (majority of shareholder votes cast)• Customary regulatory and court approvals

Other

• Unanimous support for the transaction and lock-up agreements from the Officers and Board of Directors of both Alamos and Richmont

• Customary reciprocal non-solicitation provisions, subject to normal fiduciary outs, and a right to match• C$35 million reciprocal termination fee in the event of a Superior Proposal to either party• Completion of the sale of Richmont’s Quebec assets is not a condition to closing

ProposedTiming

• Mailing of meeting materials by mid-October 2017• Shareholder meetings around mid-November 2017• Closing expected in November 2017

1 Based on market closing on September 8, 2017; equity value and pro forma ownership are based on fully diluted in-the-money shares.2 Based on TSX trading only; premium calculated based on the VWAPs of both companies.

7

Alamos Richmont Alamos PF2

Exchanges (exchange) TSX/NYSE TSX/NYSE TSX/NYSE

Share Price (C$/sh) $10.25 $14.20

Market Capitalization (C$ mm) $3,068 $936 $4,003

Market Capitalization (US$ mm) $2,525 $770 $3,294

Enterprise Value (US$ mm) $2,374 $683 $3,057

Cash and Equity Securities (US$ mm) $150 $79 $229

Debt (US$ mm) -- -- --

Shares

OutstandingShares Outstanding3 (mm) 299 66 391

Trading

Capitalization

Pro Forma Capitalization

Source: Company filings, FactSetNote: Cash and debt figures are as at June 30, 2017 and exclude finance leases and contract payment holdbacks; Alamos cash balance includes equity securities.1 Richmont metrics shown at offer price on a fully diluted in the money basis, excluding cash settled RSUs and DSUs.2 Alamos PF figures are pro forma the acquisition of Richmont as at June 30, 2017; Alamos PF cash balance is the sum of the two cash balances and does not include transaction costs.3 Alamos basic shares outstanding (including ITM securities would increase share count by 13 mm). Richmont fully diluted in the money shares outstanding as at June 30, 2017.

1

Positions pro forma Alamos as a leading intermediate producer with net cash of ~US$230 million

8

Benefits to Alamos Shareholders

Acquisition of a high quality,

free cash flowing asset in a

world class jurisdiction

• Island Gold is a long-life, high-grade, low-cost underground gold mine located in Ontario, Canada

• Current expansion is anticipated to drive production higher, costs lower & further

free cash flow growth

• Significant exploration potential to extend mine life beyond current resource

Strengthens core portfolio;

solidifies intermediate

producer position

• Adds a third core, long-life producing asset to further diversify asset base

• De-risks portfolio & improves already low risk profile with increased exposure to Canada

Stronger cash flow generation

to support growth

• Immediate earnings & cash flow accretion; stronger operating & free cash flow profile

• Stronger balance sheet & financial flexibility with US$229 million cash1 & no debt

• Better positioned to internally fund portfolio of growth projects

Aligns well with Alamos’ core

competencies• Synergies with a second underground gold mine in Ontario

Enhanced production growth & cost profile

• Island Gold provides near term production growth while lowering the combined

cost profile

Increases scale and capital

markets profile

• Elevates Alamos to a >500 koz per year producer with a peer leading growth profile

• Establishes Alamos as top 10 Canadian and North American gold producer2

1 Cash balance shown as at June 30, 2017 and includes equity securities.2 Based on Wood Mackenzie 2018E estimates for Island Gold and estimates of corporate production in Canada, the United States, and Mexico.

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Benefits to Richmont Shareholders

Immediate and significant

premium

• 22% premium to Richmont’s closing price on September 8, 2017

• 32% premium based on Richmont and Alamos’ 20-day volume-weighted average prices1

Meaningful ownership in a

stronger combined entity

• Provides exposure to Alamos’ high quality portfolio of assets including diversified North

American gold production and peer leading growth profile

• Maintain exposure to Island Gold’s operating and exploration upside potential

• Synergies realized by pro forma company

Significant revaluation

potential

• Increased capital markets profile and trading liquidity

• Significant revaluation opportunity with exposure to large intermediate producer with

established growth potential approaching 1 million ounces per year

Provides on-going

return of capital for

shareholders

• Alamos has a long track record of returning capital to shareholders with semi-annual

dividend in place since 2010, returning a total of over US$115 million

1 Based on TSX trading only; premium calculated based on the VWAPs of both companies.

10

AĞI DAĞI (TURKEY)

Stage Permitting

2P Au Reserves 1.2 Moz (54.4 mt @ 0.67 g/t)

Total Au M&I Resources 0.5 Moz (34.9 mt @ 0.46 g/t)

Total Au Inf. Resources 0.2 Moz (16.8mt @ 0.46 g/t)

KIRAZLI (TURKEY)

Stage Permitting

2P Au Reserves 0.7 Moz (26.1mt @ 0.79 g/t)

Total Au M&I Resources 0.1 Moz (6.0mt @ 0.43 g/t)


ÇAMYURT (TURKEY)

Stage Resource Dev.


Total Au Inf. Resources 0.1 Moz (2.8mt @0.95 g/t)

Top 10 North American Producer; Leading Growth

MULATOS (SONORA, MEXICO)

2017E Au Production 150-160 koz

2017E Au Total Cash Costs US$815/oz




EL CHANATE (SONORA, MEXICO)


2017E Au Total Cash Costs US$1,200/oz

2P Au Reserves 0.3 Moz (10.8mt @ 0.56g/t)


YOUNG-DAVIDSON (ONTARIO, CANADA)


2017E Au Total Cash Costs US$625/oz



Total Au Inf. Resources 0.3 Moz (3.6mt @ 2.75g/t)

Producing Assets

Exploration / Development AssetsPlease refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.Note: Mineral resources are exclusive of mineral reserves. See mineral reserve and resource estimates and associated footnotes in appendix.

ISLAND GOLD (ONTARIO, CANADA)


2017E Au Total Cash Costs US$550-590/oz




QUARTZ MOUNTAIN (OREGON, USA)

Stage Advanced Exploration


Total Au Inf. Resources 1.1 Moz (39.2mt @0.91 g/t)

ESPERANZA (MORELOS, MEXICO)

Stage Permitting


LYNN LAKE (MANITOBA, CANADA)

Stage Feasibility



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Increases Alamos’ Exposure to Tier 1 Jurisdictions

Source: Select street researchPlease refer to Cautionary Statements.

Asset NPV by Geography 2018 – 2020 Production by Geography

Reserves by Geography Asset NPV by Stage

Canada57%Mexico

23%

Turkey20%

Production72%

Development28%

Canada58%

Mexico34%

Turkey8%

Canada52%Mexico

26%

Turkey22%

Acquisition of Island Gold strengthens and de-risks Alamos’ portfolio

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35 42

52

82

95 $1,452

$1,192 $1,136

$745 $723

2013A 2014A 2015A 2016A 2017E

Ounces Sold (koz) AISC (US$/oz)

Island Gold Mine Overview

Source: Company filings, SNL, street research1 Ore processed averaged 933 tpd in H1 2017.2 Expansion capital of C$28.2 mm converted at 0.80x US$ per C$.

• High grade underground gold mine located northeast of Wawa, Ontario in a well established gold district

• Began commercial production in October 2007

• Ore currently processed at rate of ~930 tpd1

• Expansion underway to 1,100 tpd as detailed in May 2017 PEA

– Annual production expected to increase to average 125 koz at mine-site AISC of US$550/oz for the period of 2019-2024

– Minimal incremental capital of US$23 mm2 with mill expansion expected to be completed in latter part of 2018

• Upside potential reflecting inclusion of all mineral resources and exploration potential laterally and at depth

Asset Description

Growing Production; Declining Costs

Highly Productive Gold Mining District

4

0 50 100km

Marathon

Wawa

Hearst

Timmins

Iroquois Falls

Smooth Rock Falls

Eagle River, Wesdome

Borden, Goldcorp

Island Gold, Richmont

Magino, Argonaut

Cote, IAMGOLD

Black Fox, McEwen

Timmins West, Tahoe

Holloway, Kirkland Lake

Porcupine, Goldcorp

Bell Creek, Tahoe

Young Davidson, Alamos

Macassa, Kirkland Lake

Holt, Kirkland Lake

Lake Superior

ONTARIO

Hemlo, Barrick

144

101

17

17

11

101

MineCity

Dome Mine, Goldcorp

Hoyle Pond, Goldcorp

Cochrane

Pamour (PJV), Goldcorp

Hislop, Kirkland Lake

Detour Lake Mine, Detour Gold

Recent Operating Performance

Gold Reserves & ResourcesTonnes (000)

Grade (g/t Au)

oz Au(000)

P&P Reserves 2,551 9.17 752M&I Resources 479 5.94 91Inferred Resources 3,042 10.18 996

Q1/17A Q2/17A H1/17 2017E6

Gold Production (koz) 23.8 26.1 49.9 87-93Total Cash Costs7 (US$/oz) $504 $431 $463 $550-$590Mine-site AISC7 (US$/oz) $640 $503 $563 $725-$765Sustaining Capital (US$ mm) $3.1 $2.1 $5.2 $15-$17Expansion Capital (US$ mm) $4.5 $4.4 $8.9 $25-$27Exploration (US$ mm) $2.8 $3.6 $6.5 $11-$12RIC Corporate FCF5 (US$ mm) $0.4 $14.3 $14.8

3 Since 1985.4 Based on analyst consensus estimates.

5 Richmont consolidated corporate OCF less capex.6 Richmont 2017E guidance.

>25 Moz gold produced3

>35 Moz in defined reserves

7 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.

13

20.8

14.6

9.2 9.2 8.8 8.4 8.3 7.7 7.3

6.4 6.1

4.6 4.5 4.3 4.3 4.2 3.6

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Island Gold – High Grade, Low Cost, Canadian Asset

Island Gold is one of the highest quality producing assets in Canada,

and one of a few not in a senior portfolio

2017E All-in Sustaining Costs (US$/oz)Mineral Reserve Grade (g/t Au)

Source: Company filingsNote: AISC based on midpoint of 2017 guidance where available, otherwise 1H/17 metrics shown. Eagle River AISC shown is Wesdome consolidated. Bell Creek AISC shown consolidated with Timmins West. TMAC AISC excluded due to recent guidance revisions. Island Gold based on PEA.

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Island Gold PEA Highlights and Operating Profile

Source: Company disclosure, street research1 The Expansion Case PEA assumes a spot gold price of C$1,700/oz and US$1,260/oz and a C$:US$ exchange rate of 1.35.2 Excludes the 2017 and 2018 ramp-up period. 3 Project capital includes incremental expansion capital of C$28.2m and accelerated mine development/infrastructure capital of C$40m.4 Net cash flow is undiscounted pre-tax cash flow after all operating costs, project and sustaining capital.5 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.

Expansion Case PEA Summary (1,100 tpd)1 Island Gold Operating Profile (PEA)

C$ US$

Targeted mill throughput run-rate year H2 2018 H2 2018

Avg annual production (koz): 2019 – 20242 125 koz 125 koz

Avg operating unit cost ($/t) $191 $141

Avg annual Cash Costs ($/oz): LOM 5 $652 $483

Avg annual AISC ($/oz): 2019 – 20242,5 $743 $550

Avg annual AIC ($/oz): LOM5 $910 $674

Sustaining capital ($m): LOM $168 $124

Project capital ($m)3: LOM $68 $50

Cumulative Net Cash Flow ($m)4 $749 $555

90 94

125

$735

$881

$550

2017E 2018E 2019E - 2024E Average

Gold Production (koz) AISC (US$/oz)

39% Growth

39%

projected

production growth

C$28.2 mm

Low incremental

expansion capital

-25%

expected decrease

in LOM AISC

Significant upside potential

>750 koz of Inferred resources not factored

into mine plan + ongoing exploration potential

15

Island Gold Mineral Reserve & Resource Growth

67

564

1,037 1,003

768

996

154

111

233 219

72

91

172

141

144 184

562

752

2007-2011 2012 2013 2014 2015 2016

Inf. Resources M&I Resources Reserves Cumulative Ounces Sold

179 221 256

298 351

433

Source: Company disclosure1 Cumulative ounces of gold sold since 2011.

Mineral Reserves and Resources Over Time (koz)1

+34%Increase in 2016 year end mineral

reserves

Strong track record of mineral reserve & resource growth

~$35/ozLow discovery costs

+30%Increase in 2016 year end inferred

mineral resource; 20% increase in grade

+44%Mineral reserve grade increase since

2014

16

Island Gold Exploration Potential

Source: Company disclosure

Significant Exploration Potential at Depth and to the East

Recent results highlight significant

potential for resource growth at

depth & to the east including

• 19.85 g/t over 8.4m

Less than 15% of land package

drilled

Potential for mineralization to

extend to at least 2km depth

Early results from delineation

drilling demonstrate ability to

potentially expand reserves at

higher average grades

17

$174 $195

$216

$308

$65 $60

$103

$68

$239 $255

$319

$377

2017E 2018E 2019E 2020E

AGI OCF (US$ mm) RIC OCF (US$ mm)

Enhances Production Profile & Cash Flow Generation

Pro Forma Operating Profile (consensus) Pro Forma Operating Cash Flow Profile (consensus)

418 421 429

513

95 95 138

108 513 516 567

622 $912

$946

$847

$862

2017E 2018E 2019E 2020E

RIC Gold Production (koz) AGI Gold Production (koz)

PF AGI AISC (US$/oz)

Island Gold increases production

by an average of +25%

Island Gold increases cash flow

by an average of +34%

Source: Select street research1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.2 RIC OCF based on consensus Island Gold cash operating margin and adjusted for tax.

Island Gold delivers meaningful production growth and superior cash flow generation

2

1

18

Mulatos District• La Yaqui Grande – significant mineral reserve and resource growth since 2015 discovery• Multiple targets in large underexplored land package; >70% past drilling focused near mine

Quartz Mountain• Located in Oregon on the northern extension of prolific Basin & Range Province of Nevada• Low strip, favourable metallurgy

Island Gold• Resource growth potential laterally to the east and at depth• Less than 15% of the land package drilled

Aği Daği2 Production: 178 kozMine-site AISC1: $411/oz

• Low cost, open pit, heap leach project • 39% after-tax IRR outlined in 2017 feasibility study

Çamyurt2 Production: 93 kozMine-site AISC1: $645/oz

• 253% after-tax IRR outlined in 2017 PEA• Minimal initial capital; shared Aği Daği infrastructure

Lynn LakeFeasibility Study Q3 2017

• High grade, open pit• Feasibility study expected in late Q3 2017

Kirazlı2Production: 104 kozMine-site AISC1: $373/oz

• Low cost, open pit, heap leach project • 44% after-tax IRR outlined in 2017 feasibility study

Esperanza • Average annual production potential >100,000 oz; excellent infrastructure; low technical risk

487-523 koz 2017 combined

production guidance

Diversified Production; Disciplined, Multi-stage Growth

>400 kozCombined annual

production growth potential

Young-DavidsonProduction: 200-210 kozMine-site AISC1: $775/oz

• 15 year mineral reserve life• One of Canada’s largest underground gold mines

North American Production

Permitting / Development

Ongoing Exploration

MulatosProduction: 150-160 kozMine-site AISC1: $890/oz

• 5-year reserve life within main open pit• Significant mine life extension potential through La Yaqui & other nearby deposits

El ChanateProduction: 50-60 kozMine-site AISC1: $1,200/oz

• Mature operation; significant free cash flow expected at the end of mine life through residual leaching

Island GoldProduction: 87-93 kozMine-site AISC1: $745/oz

• One of Canada’s highest grade underground mines• 8-year mine life based on PEA; significant upside potential

incorporating existing resources

1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.2 Average annual production and mine-site AISC as detailed in the 2017 Kirazlı & Aği Daği feasibility studies & Çamyurt preliminary economic assessment. Please refer to press releases dated February 15 and 22, 2017 for more detail.

19

Alamos Pro Forma Operational Benchmarking

787

585 582 557 549 513

425 403 350

311 292

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24% 20% 20%

14%

2%

(1%) (1%) (7%) (9%)

(12%) (14%)

Eld

ora

do

Ala

mo

s P

F

Ce

nte

rra

Tah

oe

Kir

klan

d L

ake

New

Go

ld

SSR

Min

ing

Oce

anaG

old

Tore

x

B2

Go

ld

De

tou

r

Source: Street research1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.

2018E – 2020E Production Growth (%)

2017E Production (koz Au) 2017E AISC1 (US$/oz)

$673 $768 $798 $829 $847

$910 $912 $967 $986

$1,050 $1,082 O

cean

aGo

ld

Cen

terr

a

Ne

w G

old

Kir

klan

d L

ake

Tore

x

Eld

ora

do

Ala

mo

s P

F

B2

Go

ld

SSR

Min

ing

Tah

oe

Det

ou

r

Larger decrease expected over longer term with

Island Gold AISC1 averaging US$550/oz 2019+

20

Alamos Pro Forma Financial Benchmarking

Source: Company filings, FactSet1 Debt excludes finance leases and contract payment holdbacks; Alamos cash balance includes equity securities.

Market Capitalization (US$ bn)

Net Cash (Debt) (US$ mm)

$3.3

$2.8 $2.8 $2.5 $2.4

$2.2 $2.1 $1.6 $1.5 $1.4 $1.3

Ala

mo

s P

F

B2

Go

ld

Kir

klan

d L

ake

De

tou

r

New

Go

ld

Ce

nte

rra

Oce

anaG

old

Eld

ora

do

Tah

oe

Tore

x

SSR

Min

ing

$232 $229 $175

$105 $87

($184) ($247) ($318) ($331)

($452)

Kir

klan

d L

ake

Ala

mo

s P

F

Tah

oe

SSR

Min

ing

Eld

ora

do

De

tou

r

Oce

anaG

old

Tore

x

Ce

nte

rra

B2

Go

ld

New

Go

ld

($681)

1

21

1.7x 1.7x 1.5x 1.4x

1.4x 1.4x

1.2x 1.2x 1.1x 1.1x 1.1x 1.0x 1.0x

0.7x 0.5x

Agn

ico

New

mo

nt

Bar

rick

Kir

klan

d L

ake

Kin

ross

New

Go

ld

IAM

GO

LD

B2

Go

ld

Oce

anaG

old

Yam

ana

Go

ldco

rp

Cen

terr

a

Ala

mo

s

Tah

oe

Eld

ora

do

Large, North American Focused Peer Average: 1.4x

Compelling Investment Thesis

Source: Company disclosure, FactSet, street researchNote: Peer average excludes Alamos.1 Peer average includes Agnico, Newmont, Barrick, Kirkland Lake, Kinross, New Gold, IAMGOLD, Yamana, and Goldcorp.

Alamos Positioned

For Revaluation

~C$4 bn market cap producer

Production in excess of 500 koz Au per year

Internal growth potential approaching 1 Moz Au per year

Top 10 North American gold producer

P/NAV Multiples

1

22

Transaction Highlights

Solidifies position as leading intermediate gold producer

Stronger balance sheet & financial flexibility

Revaluation opportunity through enhanced capital markets profile

Improved operating & free cash flow generation to support peer leading growth pipeline

Acquisition of a high quality, free cash flowing asset in a world class jurisdiction

Superior production growth and cost profile

23

Appendices

24

Young-Davidson – Flagship, Long-Life Production

Location: Ontario, Canada

Ownership: 100% interest

Stage: Producing

Operation: Underground

• One of Canada’s largest underground gold mines

• Highly mechanized, highly productive bulk underground mining

• Significant Canadian dollar exposure; ~95% of costs

Gold Reserves & Resources4 Tonnes (000)

Grade (g/t Au)

oz Au (000)

P&P Underground Reserves 42,054 2.70 3,653

M&I Underground Resources 10,792 3.39 1,177

Inferred Underground Resources 3,524 2.76 313

Large resource base &

exploration potential to support

mine life extension

15 yearmine life based on year end 2016

mineral reserves

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.

2015A 2016A 2017E Q1/17A Q2/17A

Gold Production (koz) 160.4 170.0 200-210 40.4 47.3

Cost of Sales1 (US$/oz) $1,162 $1,087 $1,050 $1,148 $1,113

Total Cash Costs2,3 (US$/oz) $683 $657 $625 $710 $677

Mine-site AISC2,3 (US$/oz) $986 $897 $775 $851 $895

Total Capital (US$m) $108 $95 $70-80 $18.6 $22.7

Mine-site FCF2 (US$m) ($23) $4 - $0 $5

25

160170

200-210

2015A 2016A 2017E

Gold Production (000 oz)

$1,162

$1,087 $1,050

2015A 2016A 2017E

Cost of Sales2 (US$/oz)

$986 $897

$775

2015A 2016A 2017E

Mine-site AISC1 (US$/oz)

$108

$95

$70-80

2015A 2016A 2017E

-31%

Growing production; decliningcosts; declining capital intensity

Young-Davidson – Ramp up of Underground Mining

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

Underground TPD Mill TPD

-21%+28%

6,500 - 7,500 tpdunderground mining rate expected in 2017

-10%

6,000 tpdaverage underground mining rate in 2016

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)

26

Mulatos – Our Founding Operation

Location: Sonora State, Mexico


Stage: Producing

Operation: Open pit, heap leach & high grade mill

• Initial production 2005

• 1.7m oz produced to date; 5% NSR capped at 2m oz

• Mine life of 5 years based on YE 2016 reserves

• Large exploration package (28,773 ha)


Grade (g/t Au)

oz Au(000)

P&P Reserves 49,995 1.17 1,885

M&I Resources 76,084 1.14 2,798

Inferred Resources 10,280 0.98 325

Declining cost profile2017 AISC expected to decrease ~$160/oz from

2015; 5% royalty nearing completion

~$375mFree cash flow2 generated to date

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 2016 and 2017 excludes capitalized exploration. 2017 guidance includes La Yaqui Phase I development capital.4 Excluding LY Phase I capital expenditures.5 See mineral reserve and resource estimates and associated footnotes in appendix.

2015A 2016A 2017E Q1/17A Q2/17A


Cost of Sales1 (US$/oz) $1,128 $1,088 $1,015 $1,034 $902

Total Cash Costs2 (US$/oz) $869 $838 $815 $827 $735

Mine-site AISC2 (US$/oz) $1,047 $916 $890 $920 $777

Total Capital3 (US$m) $45 $33 $33-40 $11.4 $14.6

Mine-site FCF2,4 (US$m) ($19) $27 - $3 $11

27

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 608,000 oz (13.5 mt at 1.40 g/t Au), Measured & Indicated resources of 68,000 oz (1.1 mt at 1.91 g/t Au) & Inferred resources of 8,000 oz (0.2 mt at 1.39 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 as reported in news release dated February 23, 2017.

778 koz Combined mineral reserves1,2 at La Yaqui & Cerro Pelon, a 254% increase since 2014

District potentialLarge underexplored land package; >70% of past

drilling focused near Mulatos mine

Mulatos District

Mulatos mine

220 259

778

47

115

236

0

100

200

300

400

500

600

700

800

900

1000

2014 2015 2016

Ou

nce

s (0

00

Au

)

Proven & Probable Mineral Reserves

Inferred Mineral Resources

Measured & Indicated Mineral Resources

1,2

Ongoing exploration success Improved land access & renewed focus – 2017 Mulatos exploration budget of $17m

28

El Chanate – Consistent Gold Producer

Location: Sonora State, Mexico


Stage: Producing

Operation: Open pit, heap leach

• Positive free cash flow generation in 2016

• Significant free cash flow at end of mine life – low cost production through residual leaching

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 H2 2017 expected production has been hedged through gold collars ensuring minimum gold price of $1,242/oz and participation up to $1,409/oz.


Grade (g/t Au)

oz Au(000)

P&P Reserves – Open Pit 10,812 0.56 193

P&P Reserves – Leach Pad Inventory - - 100

M&I Resources 4,415 0.66 93

$1,242/oz

Minimum realized gold price with H2 2017 production hedged5

$5m Site free cash flow2 generated in 2016

2015A 2016A 2017E Q1/17A Q2/17A


Cost of Sales1 (US$/oz) $1,504 $1,177 $1,265 $1,218 $1,242

Total Cash Costs2,3 (US$/oz) $808 $1,052 $1,200 $1,144 $1,185

Mine-site AISC2,3 (US$/oz) $978 $1,069 $1,200 $1,187 $1,208

Total Capital (US$m) $14 $1 $2 $1 $0.3

Mine-site FCF2 (US$m) $3 $5 - ($2) $3

29

Development: Kirazlı, Ağı Dağı & Çamyurt

1 Please refer to press releases dated Feb 15 and Feb 22, 2017 regarding Kirazli & Agi Dagi feasibility studies & Camyurt preliminary economic assessment.2 See mineral reserve and resource estimates and associated footnotes in appendix.

Location: Turkey


Stage: Development


Low cost, high return growth

Kirazlı2

Tonnes Grade Contained Ounces

(000) (g/t Au) (g/t Ag) (000 Au) (000 Ag)

Proven & Probable 26,104 0.79 12.01 665 10,078

Measured & Indicated 5,966 0.43 2.18 82 418

Inferred 5,689 0.59 8.96 108 1,638

Ağı Dağı2

Proven & Probable 54,361 0.67 5.41 1,166 9,459

Measured & Indicated 34,887 0.46 2.18 518 2,445

Inferred 16,760 0.46 2.85 245 1,534

Çamyurt2

Measured & Indicated 17,721 0.89 6.14 508 3,497

Inferred 2,791 0.95 5.77 85 518

• Kirazlı & Ağı Dağı EIA’s approved

• Kirazlı Forestry Permits granted January 2017

• Kirazlı & Ağı Dağı feasibility studies & Çamyurt PEA completed February 2017

• Tax incentives & mining law supportive of industry

185%Increase in combined after-tax NPV8% of Kirazlı &

Ağı Dağı1 from 2012 prefeasibility study

30

Kirazlı, Ağı Dağı & Çamyurt Economic Studies

Aft

er-

tax

NP

V8

% (U

S$m

)

$82m

$187m$88m

$298m

$86m

$0

$100

$200

$300

$400

$500

$600

2012 2017

Kirazlı Ağı Dağı Çamyurt

+236%

Stronger economics; attractivein any gold price environment

1 Please refer to press releases dated Feb 15 and Feb 22, 2017 regarding Kirazli & Agi Dagi Feasibility studies & Camyurt PEA. After-tax NPV8% in 2012 prefeasibility study and after-tax NPV8% and IRR in 2017 feasibility studies and PEA assume gold and silver prices of $1,250 and $16 per ounce, respectively.2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.

11

2017 Positive Economic Studies1Kirazlı

Feasibility Study

Ağı Dağı Feasibility

Study

ÇamyurtPEA

Mine Life Years 5 6 4

Average Annual Productionoz 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

>39%After-tax IRR for each of Kirazlı, Ağı Dağı & Çamyurt1

31

Development: Lynn Lake Project

1 For more information regarding the Lynn Lake District, please refer to the press release issued by Carlisle Goldfields dated February 27, 2014 titled Carlisle Announces Optimized PEA of the Farley and MacLellan deposits at Lynn Lake returns Post-Tax IRR of 26.3% at US$1,100 gold price available on SEDAR.2 See mineral reserve and resource estimates and associated footnotes in appendix.3 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.

Location: Manitoba, Canada


Stage: Feasibility

Operation: Open pit

• Located in the prospective Lynn Lake Mining District

• High grade, open pit

• Exploration potential

• Existing infrastructure in place

• Low cost hydroelectric power

• Feasibility study expected in late Q3 2017

Life of Mine Production Profile1

0

50

100

150

200

250

1 2 3 4 5 6 7 8 9 10 11 12

Go

ld (

koz

per

ye

ar)

Life of Mine (years)


Grade (g/t Au)

oz Au (000)

M&I Resources 40,303 2.03 2,629

Inferred Resources 50,704 1.28 2,089

32

Development: Esperanza & Quartz Mountain

1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.2 Historic column recovery tests for gold at Quartz Mountain varied between 74% and 88% for the felsic rock hosted mineralization; see Orsa Ventures press release dated February 12, 2013.3 See mineral reserve and resource estimates and associated footnotes in appendix.4 Additional C$3m due on completion of feasibility study & C$15m or 2% NSR upon successful permitting.

Location: Morelos State, Mexico


Stage: Development


• Excellent infrastructure; low technical risk

• Low capital intensity and operating costs

• Average annual production potential > 100,000 oz

• All-in sustaining costs expected to be lowest quartile1

Location: Oregon, United States

Ownership: Right to earn a 100% interest4

Stage: Advanced Exploration

• Located on northern extension of prolific Basin & Range

Province of Nevada

• Low strip ratio, favourable metallurgy2

• Acquisition cost $3.5m


(000) (g/t Au) (g/t Ag) (000 Au) (000 Ag)

Measured & Indicated3 34,352 0.98 8.09 1,083 8,936

Inferred 718 0.80 15.04 18 347

Quartz Butte

Crone Hill


(000) (g/t Au) (000 Au)

Measured & Indicated3 12,156 0.87 339

Inferred 39,205 0.91 1,147

Project: Esperanza

Project: Quartz Mountain

33

1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.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.

2017 Guidance – Alamos Gold

2017 Guidance 2016 Actuals

Young-Davidson Mulatos El Chanate Total Total

Gold production (000’s ounces) 200-210 150-160 50-60 400-430 392

Cost of Sales (in millions)4 $215 $157 $70 $442 $429

Cost of Sales ($/oz)4 $1,050 $1,015 $1,265 $1,065 $1,103

Total cash costs ($/oz)1 $625 $815 $1,200 $765 $797

All-in sustaining costs ($/oz)1 $940 $1,010

Mine-site all-in sustaining costs ($/oz)1,3 $775 $890 $1,200 -

Capital expenditures (in millions)

Sustaining capital1 $30-35 $8-10 $2 $40-47 $49

Growth capital1 $40-45 $25-302 - $65-75 $97

Total – Operating Mines1 $70-80 $33-40 $2 $105-122 $128

Total – Development Projects $35-61 $18

Total Consolidated Budget $140-183 $147

Corporate & Administrative (in millions) $16 $16

34

2017 Guidance – Island Gold Mine

Island Gold Mine

2017 Guidance 2016 Actuals

Gold production (000’s ounces) 87-93 83

Total cash costs (US$/oz) $550-590 $587

All-in sustaining costs (US$/oz) $725-765 $745

Capital expenditures (in US$ millions1)

Sustaining capital $16-18 $13

Growth capital2 $27-29 $30

Exploration & project evaluation $12-13 $11

Total $54-60 $54

Source: Company disclosure. See news release dated February 2, 2017.1 2017 Guidance converted at spot rate of 1.22.2 Ongoing deployment of growth capital is contingent upon the receipt of a confirmatory PEA for 1,100 tpd and a minimum gold price of C$1,550/oz; exclusive of capital requirements related to a mill expansion in 2018 as contemplated in the PEA.

35

2016 Proven & Probable Mineral Reserves

PROVEN AND PROBABLE GOLD RESERVES (as at December 31, 2016)

Proven Reserves Probable Reserves Total Proven and Probable

Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces

(000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000's) (g/t Au) (000's)

Young-Davidson - Surface 1,165 0.91 34 - - - 1,165 0.91 34

Young-Davidson - Underground 14,851 2.80 1,336 27,203 2.65 2,317 42,054 2.70 3,653

Total Young-Davidson 16,016 2.66 1,370 27,203 2.65 2,317 43,220 2.65 3,687

Mulatos Main Pits 4,173 1.02 137 21,847 0.87 613 26,020 0.90 750

San Carlos Underground 72 13.06 30 34 8.64 9 106 11.65 40

Stockpiles 7,129 1.38 317 - - - 7,129 1.38 317

La Yaqui 470 1.48 22 1,469 1.37 65 1,939 1.40 87

La Yaqui Grande - - - 11,548 1.40 521 11,548 1.40 521

Cerro Pelon 960 1.70 53 2,293 1.59 117 3,253 1.63 170

Total Mulatos 12,804 1.36 559 37,191 1.11 1,325 49,995 1.17 1,885

El Chanate - Open Pit 7,008 0.51 114 3,804 0.65 79 10,812 0.56 193

El Chanate - Leach Pad Inv. - - 100 - - - - - 100

Total El Chanate 7,008 0.95 214 3,804 0.65 79 10,812 0.84 293

Agi Dagi 1,450 0.76 36 52,911 0.66 1,130 54,361 0.67 1,166

Kirazli 700 1.25 28 25,404 0.78 637 26,104 0.79 665

Total Turkey 2,150 0.93 64 78,315 0.70 1,767 80,465 0.71 1,831

Alamos - Total 37,979 1.81 2,208 146,513 1.17 5,488 184,492 1.30 7,696

PROVEN AND PROBABLE SILVER MINERAL RESERVES (as at December 31, 2016)



(000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's)

La Yaqui 470 7.40 112 1,469 7.19 340 1,939 7.25 452

La Yaqui Grande - - - 11,548 19.94 7,403 11,548 19.94 7,403

Ağı Dağı 1,450 6.22 290 52,911 5.39 9,169 54,361 5.41 9,459

Kirazli 700 15.90 358 25,404 11.90 9,720 26,104 12.01 10,078

Alamos - Total 2,620 9.02 760 91,332 9.07 26,632 93,952 9.07 27,392

36

2016 Total Measured & Indicated Mineral Resources

MEASURED AND INDICATED GOLD MINERAL RESOURCES (as at December 31, 2016)

Measured Resources Indicated Resources Total Measured and Indicated



Young-Davidson - Surface 496 1.13 18 1,242 1.28 51 1,739 1.24 69

Young-Davidson - Underground 5,876 3.33 629 4,916 3.47 548 10,792 3.39 1,177

Total Young-Davidson 6,373 3.16 647 6,158 3.03 599 12,531 3.09 1,246

Mulatos 8,270 1.24 330 64,221 1.08 2,224 72,491 1.10 2,554

San Carlos UG 196 6.11 39 362 4.70 55 558 5.20 93

La Yaqui - - - 1,108 1.91 68 1,108 1.91 68

Cerro Pelon 117 2.75 10 455 2.52 37 572 2.56 47

Carricito 58 0.82 2 1,297 0.82 34 1,355 0.83 36

Total Mulatos 8,641 1.37 381 67,443 1.12 2,418 76,084 1.14 2,798

El Chanate 1,092 0.55 19 3,323 0.69 74 4,415 0.66 93

MacLellan 15,010 1.99 960 17,374 1.75 976 32,384 1.86 1,936

Gordon - - - 5,914 3.21 610 5,914 3.21 610

Burnt Timber - - - 1,021 1.40 46 1,021 1.40 46

Linkwood - - - 984 1.16 37 984 1.17 37

Total Lynn Lake 15,010 1.99 960 25,293 2.05 1,669 40,303 2.03 2,629

Esperanza 19,226 1.01 622 15,126 0.95 462 34,352 0.98 1,083

Ağı Dağı 553 0.44 8 34,334 0.46 510 34,887 0.46 518

Kirazli 118 0.50 2 5,848 0.43 80 5,966 0.43 82

Çamyurt 513 1.00 16 17,208 0.89 492 17,721 0.89 508

Total Turkey 1,184 0.68 26 57,390 0.59 1,082 58,574 0.59 1,108

Quartz Mountain 214 0.95 7 11,942 0.87 333 12,156 0.87 339

Alamos - Total 51,740 1.60 2,661 186,675 1.11 6,637 238,415 1.21 9,298

MEASURED AND INDICATED SILVER MINERAL RESOURCES (as at December 31, 2016)



(000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's)

La Yaqui Grande - - - 1,108 15 523 1,108 15 523

Esperanza 19,226 7.25 4,482 15,126 9.16 4,455 34,352 8.09 8,936

Ağı Dağı 553 1.59 28 34,334 2.19 2,417 34,887 2.18 2,445

Kirazli 118 2.73 10 5,848 2.17 408 5,966 2.18 418

Çamyurt 513 5.63 93 17,208 6.15 3,404 17,721 6.14 3,497

Alamos - Total 20,410 7.03 4,613 73,624 4.73 11,207 94,034 5.23 15,819

37

2016 Total Inferred Mineral Resources

INFERRED GOLD MINERAL RESOURCES (as at December 31, 2016)

Tonnes Grade Ounces

(000's) (g/t Au) (000's)

Young-Davidson - Surface 31 0.99 1

Young-Davidson - Underground 3,524 2.76 313

Total Young-Davidson 3,555 2.75 314

Mulatos 8,935 0.92 265

San Carlos UG 162 4.93 26

La Yaqui 174 1.39 8

Cerro Pelon 109 1.23 4

Carricito 900 0.74 22

Total Mulatos 10,280 0.98 325

El Chanate 112 0.71 3

MacLellan 1,898 2.01 123

Gordon 4,364 2.87 403

Burnt Timber 23,438 1.04 781

Linkwood 21,004 1.16 783

Total Lynn Lake 50,704 1.28 2,089

Esperanza 718 0.80 18

Ağı Dağı 16,760 0.46 245

Kirazli 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 129,815 1.04 4,334

INFERRED SILVER MINERAL RESOURCES (as at December 31, 2016)

Tonnes Grade Ounces

(000's) (g/t Ag) (000's)

La Yaqui Grande 174 5.55 31

Esperanza 718 15.04 347

Ağı Dağı 16,760 2.85 1,534

Kirazli 5,689 8.96 1,638

Çamyurt 2,791 5.77 518

Alamos - Total 26,132 4.84 4,068

38

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, 2016 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 Pit, 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 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, except as follows: Lynn Lake Mineral Resources assumed a

gold price of $1,550 per ounce with an assumption of the Canadian dollar at parity with the United States dollar. Metal prices, cutoff grades and metallurgical recoveries are set out in the table below.• El Chanate reserve ounces include a December 31, 2016 inventory 99,900 recoverable ounces in the heap leach pad• REFER TO ALAMOS’ ANNUAL INFORMATION FORM FOR THE YEAR ENDED DECEMBER 31, 2016, DATED MARCH 15, 2017 AND AVAILABLE ON SEDAR (www.sedar.com) FOR COMPLETE NI 43-101 NOTES AND

DISCLOSURE PERTAINING TO THE RESOURCE AND RESERVE STATEMENTS REFERENCED HEREIN.

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.

Mineral ResourcesJeffrey Volk, CPG, FAusIMM Director - Reserves and Resources,

Alamos Gold Inc.Young-Davidson, El Chanate, San Carlos U/G, Lynn Lake

Marc Jutras, P.Eng Principal, Ginto Consulting Inc. Mulatos Pits, Cerro Pelon, La Yaqui, Carricito, Esperanza, Ağı Dağı,Kirazlı, Çamyurt, Quartz Mountain

Mineral ReservesChris Bostwick, FAusIMM VP Technical Services, Alamos Gold Inc. Young-Davidson, El Chanate,

San Carlos UndergroundHerb Welhener, SME-QP VP, Independent Mining Consultants Inc. Mulatos Pits, Cerro Pelon, La Yaqui, Ağı Dağı, Kirazlı

Resources ReservesGold Price Cutoff Gold Price Cutoff 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 >50%

Young-Davidson - Surface $1,400 0.5 $1,250 0.5 91%

Young-Davidson - Underground $1,400 1.3 $1,250 1.9 91%

El Chanate $1,400 0.15 $1,250 0.15 30-65%

Lynn Lake $1,555 0.4 n/a n/a 89-92%

Esperanza $1,400 0.4 n/a n/a 60-72%Ağı Dağı $1,400 0.2 $1,250 see notes 80%Kirazlı $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%

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2016 Mineral Reserves & Resources – Island Gold Mine

PROVEN AND PROBABLE GOLD RESERVES (as at December 31, 2016)




Island Gold 573.05 8.68 159.8 1,978.0 9.31 592.4 2,551 9.17 752.2

MEASURED AND INDICATED GOLD RESOURCES (as at December 31, 2016)1




Island Gold 33.5 4.94 5.4 445.5 6.01 86.1 479.0 5.94 91.5

INFERRED GOLD RESOURCES (as at December 31, 2016)

Inferred Resources

Tonnes Grade Ounces

(000's) (g/t Au) (000's)

Island Gold 3,042.0 10.18 995.7

Source: Company disclosure

Notes to Mineral Reserve and Resource Tables:

1. Mineral Resources presented are exclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability2. In 2016, based on a gold price of CAN$1,500/oz; in 2015, based on a gold price of US$1,080/oz and an exchange rate of CAN$1.2037 = US$1.00.

Qualified Persons The Mineral Reserve and Resource estimates as of December 31, 2016 and December 31, 2015 were performed by qualified persons as defined by NI 43-101 and were supervised by Mr. Daniel Adam, Geo., Ph.D., Vice-President, Exploration, an employee of Richmont Mines Inc. Please refer to the SEDAR website (www.sedar.com) for full reports and additional corporate documentation.

The Island Gold Mine Reserve and Resource estimate as of December 31, 2016 was performed by M. Raynald Vincent P.Eng. M.P.M., Chief Geologist, and M. Léon Grondin Leblanc, P.Eng., Chief Engineer, both employees of Richmont Mines Inc., and Qualified Persons as defined by NI 43-101. A NI 43-101 technical report has been completed for the Island Gold Mine as of December 31, 2016, and filed on SEDAR.

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Scott K. Parsons, CFAVP, Investor Relations

416.368.9932 ext. [email protected]

Anne DaySenior Vice President, Investor Relations

416-368-0291 ext. [email protected]