Alamos Receives Final Signatures Approving Agi Dagi EIA

TORONTO, ONTARIO--(Marketwired - Aug. 20, 2014) -

All amounts are in United States dollars, unless otherwise stated.

Alamos Gold Inc. (TSX:AGI)(NYSE:AGI) ("Alamos" or the "Company") today reported that it has received the final signatures approving the Environmental Impact Assessment ("EIA") for its Ağı Dağı gold project.

The Ministry of the Environment and Urbanization, the Turkish government agency responsible for reviewing the Company's EIA, has signed and issued formal approval in the form of an EIA Positive Decision Certificate for Ağı Dağı. "This represents another step forward for our development projects in Turkey and reaffirms the government's commitment to the mining industry," said John A. McCluskey, President and Chief Executive Officer.

The Company continues work on amending the EIA for the Kirazlı project to include an assessment of the potential cumulative impacts of proposed projects in the region while awaiting a positive resolution of the legal process. A ruling on the interim relief remedy requested by the Company from the High Court is expected in the fourth quarter of 2014. The Company expects to be in a position to submit this revised EIA by the end of September 2014 in the event it is unsuccessful in appealing the Court's decision to the Turkish High Court.

Gold production from Kirazlı, the first of the Company's Turkish projects, is expected within 18 months of receipt of the outstanding forestry and operating permits. With approximately $390 million in cash, no debt and strong ongoing cash flow generation, the Company expects to fund development of these projects internally.

About Alamos

Alamos is an established Canadian-based gold producer that owns and operates the Mulatos Mine in Mexico, and has exploration and development activities in Mexico, Turkey and the United States. The Company employs more than 500 people and is committed to the highest standards of sustainable development. Alamos has approximately $390 million in cash and cash equivalents, is debt-free, and unhedged to the price of gold. As of July 29, 2014, Alamos had 127,357,488 common shares outstanding (139,530,554 shares fully diluted), which are traded on the TSX and NYSE under the symbol "AGI".