Alamos Gold's Acquisition of Richmont Mines Receives Overwhelming Shareholder Approval

Toronto (ots/PRNewswire) -

Alamos Gold Inc. ("Alamos") (TSX: AGI); (NYSE: AGI) and Richmont
Mines Inc. ("Richmont") (TSX: RIC); (NYSE: RIC) are pleased to
announce that shareholders of both companies have overwhelmingly
voted in favour of the plan of arrangement (the "Transaction") at
their respective special meetings of shareholders held earlier today.

The Transaction, whereby Alamos will acquire all of the issued and
outstanding shares of Richmont, was approved by 98.46% of votes cast
by Alamos shareholders and 92.56% of votes cast by Richmont
shareholders. A copy of the complete report on voting for each of
Richmont and Alamos will be made available on SEDAR and EDGAR.

The Transaction is expected to close on November 23, 2017, subject
to applicable regulatory approvals and the satisfaction of other
customary conditions.

"With the acquisition of Richmont we are strengthening our asset
base and profitability. We are very pleased with the strong support
for the transaction and expect to create significant value for
shareholders as we deliver on the expansion at Island Gold and
continue to unlock its exploration potential," said John A.
McCluskey, President and Chief Executive Officer of Alamos.

"This strategic transaction delivers on our commitment to create
long-term sustainable value as our shareholders will benefit from
having meaningful ownership in a diversified intermediate producer
with a portfolio of high-quality assets and a proven and experienced
management team while maintaining exposure to the significant
potential of the Island Gold Mine," said Renaud Adams, President and
Chief Executive Officer of Richmont.

About Alamos Gold Inc.

Alamos is a Canadian-based intermediate gold producer with
diversified production from three operating mines in North America.
This includes the Young-Davidson mine in northern Ontario, Canada and
the Mulatos and El Chanate mines in Sonora State, Mexico.
Additionally, the Company has a significant portfolio of development
stage projects in Canada, Mexico, Turkey, and the United States.
Alamos employs more than 1,300 people and is committed to the highest
standards of sustainable development. The Company's shares are traded
on the TSX and NYSE under the symbol "AGI".

About Richmont Mines Inc.

Richmont Mines currently produces gold from the Island Gold Mine
in Ontario and is also advancing development of the significant
high-grade resource extension to the east and at depth. With more
than 35 years of experience in gold production, exploration and
development, and prudent financial management, the Corporation has