Alamos Gold Inc. (TSX:AGI) (NYSE:AGI) announced that it has entered into a binding agreement to sell its non-core Quartz Mountain Gold Project located in Lake County, Oregon to Q-Gold Resources Ltd. (TSX-V:QGR) for total consideration of up to $21 million and a 9.9% equity interest in Q-Gold. The Transaction is comprised of the following:

“The sale of Quartz Mountain is consistent with our strategy of monetizing non-core assets as we develop our portfolio of high-return growth projects including the Phase 3+ Expansion at Island Gold, Lynn Lake, and PDA,” said John A. McCluskey, President and Chief Executive Officer.

“As a Forbes & Manhattan backed company, Q-Gold is well positioned to advance Quartz Mountain and we look forward to participating in the future success of the project as a significant shareholder,” Mr. McCluskey added.

The Q-Gold common shares to be issued to Alamos upon closing of the Transaction, or at a later date, are to be based on a 10-day volume weighted average trading price prior to the date of issuance. Torys LLP is acting as legal advisor to Alamos.

The Transaction is expected to close in the second quarter of 2025 and is subject to customary closing conditions for a transaction of this nature.

About Alamos

Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Island Gold District and the Young-Davidson mine in northern Ontario, Canada, and the Mulatos District in Sonora State, Mexico. Additionally, the Company has a significant portfolio of development stage projects, including the Phase 3+ Expansion at Island Gold, and the Lynn Lake project in Manitoba, Canada. Alamos employs more than 2,400 people and is committed to the highest standards of sustainable development.