Alamos Gold Inc. (TSX:AGI) (NYSE:AGI) announced that its wholly owned Netherlands subsidiaries, Alamos Gold Holdings Coöperatief U.A. and Alamos Gold Holdings B.V. (the “Netherlands Subsidiaries”), have completed the sale of Doğu Biga Madencilik Sanayi ve Tic. A.Ş., their wholly owned Turkish subsidiary, which owns the Kirazlı, Ağı Dağı and Çamyurt projects located in northwestern Türkiye, to Tümad Madencilik Sanayi ve Ticaret A.Ş. a mining company operating in the Republic of Türkiye, for total cash consideration of $470 million.

Upon closing, Alamos received $160 million in cash. On the one-year and two-year anniversaries of closing the Transaction, Alamos will receive $160 million and $150 million, respectively. The Anniversary Payments are secured by bank guarantees provided by international financial institutions with investment grade ratings which were received on closing.

About Alamos

Alamos is a Canadian-based intermediate gold producer with diversified production from three operations in North America. This includes the Island Gold District and Young-Davidson mine in northern Ontario, Canada, and the Mulatos District in Sonora State, Mexico. Additionally, the Company has a strong portfolio of growth 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.