Alamos Gold’s Island Phase 3+ Expansion Project

Alamos Gold is a Canadian-based gold producer formed in 2003. The company operates three mines: two in Canada (Island Gold mine and Young-Davidson mine) and one in Mexico (Mulatos mine), and a strong portfolio of development stage projects in Canada, Mexico, Turkey, and the United States.

In November 2017, Alamos Gold acquired Richmont Mines and the Island Gold Mine, a long-life, high-grade underground mine with growing production in Ontario. The story of Island Gold started back in 1985 when the first drilling for gold mineralization took place. Richmont Mines achieved commercial production in October 2007, and Island Gold has since produced over 1.1 million oz. of gold.

Island Gold is one of Canada’s highest-grade and lowest-cost gold mines. Its mineral reserves and resources have continued growing in size and quality through ongoing exploration success. This has supported a multiphase expansion of the operation, driving production higher, costs lower, and strong free cash flow growth.

On June 28, 2022, Alamos Gold reported the results of the Phase 3+ expansion study which outlined a larger, more profitable, and valuable operation than outlined in the Phase 3 expansion study released in 2020. Based on the results of the Phase 3+ expansion study, Alamos announced that they are proceeding with an expansion of the operation to 2,400 t/d. (tons per day).