Name of the Project
Island Gold District operation.

Location
Ontario, Canada.

Project Owner/s
Canadian-based intermediate gold producer Alamos Gold.

Project Description
Alamos reported results of the base case life-of-mine (LoM) plan completed on the Island Gold District operation in June 2025. The base case LoM plan integrates Island Gold and Magino as one consolidated long-life operation that is expected to become one of the largest, lowest-cost, and most profitable gold mines in Canada.

The plan has been updated to reflect the current costing environment, significant growth in mineral reserves at Island Gold, operating savings resulting from the use of a larger and more efficient Magino mill, and scope changes since the Phase 3+ expansion study, which was completed in 2022.

The base case LoM plan includes mineral reserves at only Island Gold and Magino. Average production over the 20-year LoM is estimated at 306 000 oz/y, with total production estimated 6.11-million ounces.

The LoM plan proposes average gold production of 411 000 oz/y starting in 2026 and over the initial 12 years, a 43% increase from the midpoint of 2025 production guidance driven by the completion of the Phase 3+ expansion.

The expansion includes the addition of a shaft and paste plant to support increased underground mining rates of 2 400 t/d. Combined with the Magino openpit’s contribution of 10 000 t/d, the district will feed a 12 400 t/d mill from 2027.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
At current gold prices of about $3 300/oz, the project has a net present value, at a 5% discount rate, of $6.7-billion.

Capital Expenditure
The project will require growth capital of $453-million with the majority to be spent over the next two years, focused on completing the Phase 3+ expansion and Magino mill expansion to 12 400 t/d.

Planned Start/End Date
Phase 3+ expansion is expected to be completed during the second half of 2026.

Latest Developments
An expansion study is expected to be released in the fourth quarter of 2025 detailing the significant upside potential within the Island Gold district beyond the base case LoM plan.

The expansion study is expected to include an increase in milling rates potentially to between 18 000 t/d and 20 000 t/d supporting higher throughput rates from Island Gold and Magino.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Alamos Gold, tel +1 416 368 9932 or email info@alamosgold.com.