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Alamos Gold Acquires Trillium Mining Consolidating Large Land Package Adjacent to Island Gold Mine - Seite 2

Nachrichtenquelle: globenewswire
17.12.2020, 23:00  |  131   |   |   

The larger consolidated land package will allow for Alamos to apply a systematic, district scale approach to exploration with targeting based on greenstone belt scale structural and stratigraphic controls on gold mineralization.

Included within the Trillium land package is the Highland Property which is in the final year of a five year option agreement. Following the exercise of the option, expected on February 26, 2021, Alamos will own 100% of the Highland Property.

“The acquisition of Trillium is consistent with our strategy of consolidating prospective land in proximity to our Island Gold mine where we have had tremendous exploration success over the last several years. Island Gold’s Mineral Reserve and Resource base has more than doubled since 2017. We see excellent potential for this growth to continue given ongoing exploration success. The acquisition of these claims ensure we maintain full ownership over future growth of the existing deposit and regionally where there have been a number of high-grade gold occurrences including two past producing mines,” said John A. McCluskey, President and Chief Executive Officer.

Qualified Persons

Chris Bostwick, FAusIMM, Alamos Gold’s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this news release. Chris Bostwick is a Qualified Person within the meaning of Canadian Securities Administrator’s National Instrument 43-101 (“NI 43-101”).

About Alamos

Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos mine 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 1,700 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”.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Scott K. Parsons  
Vice President, Investor Relations  
(416) 368-9932 x 5439  

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

The TSX and NYSE have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.

Cautionary Note

This news release includes certain statements that constitute forward-looking information within the meaning of applicable Canadian and U.S. securities laws ("forward-looking statements"). All statements in this news release, other than statements of historical fact, which address events, results, outcomes or developments that Alamos expects to occur are forward-looking statements. Forward-looking statements are generally, but not always, identified by the use of forward-looking terminology such as “assuming”, “continue”, “prospective”, “expected” or “potential” or variations of such words and phrases and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved or the negative connotation of such terms. In particular, this news release contains forward-looking statements including, without limitation, with respect to exploration potential near the Company’s Island Gold mine and regionally.

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Alamos Gold Acquires Trillium Mining Consolidating Large Land Package Adjacent to Island Gold Mine - Seite 2 TORONTO, Dec. 17, 2020 (GLOBE NEWSWIRE) - Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) is pleased to announce that it has completed an agreement to acquire Trillium Mining Corp. (“Trillium”) for cash consideration of C$25 …

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