Alamos Gold : Annual Information Form 2023

Brookfield Place, 181 Bay Street, Suite 3910

Toronto, Ontario, M5J 2T3 416-368-9932

ANNUAL INFORMATION FORM

for the year ended December 31, 2023

March 25, 2024

TABLE OF CONTENTS

PRELIMINARY NOTES ........................................................................................................................................................4

GLOSSARY OF TECHNICAL TERMS.................................................................................................................................8

CORPORATE STRUCTURE .................................................................................................................................................. 12

Name and Incorporation .......................................................................................................................................................... 12

Intercorporate Relationships .................................................................................................................................................... 12

GENERAL DEVELOPMENT OF THE BUSINESS .............................................................................................................. 13

Three-Year History .................................................................................................................................................................. 13

Risk Factors ............................................................................................................................................................................. 15

MINERAL PROPERTIES ....................................................................................................................................................... 30

YOUNG-DAVIDSON MINE .................................................................................................................................................. 31

Summary ................................................................................................................................................................................. 31

Property Description, Location, and Access ........................................................................................................................... 31

History ..................................................................................................................................................................................... 32

Geological Setting, Mineralization, and Deposit Types .......................................................................................................... 32

Exploration .............................................................................................................................................................................. 33

Drilling .................................................................................................................................................................................... 33

Sampling, Analysis, and Data Verification .............................................................................................................................. 34

Mineral Processing and Metallurgical Testing ........................................................................................................................ 35

Mineral Resource and Mineral Reserve Estimation ................................................................................................................ 35

Mining Operations ................................................................................................................................................................... 35

Processing and Recovery Operations ...................................................................................................................................... 36

Infrastructure, Permitting and Compliance Activities ............................................................................................................. 36

Capital and Operating Costs .................................................................................................................................................... 37

2024 Outlook ........................................................................................................................................................................... 37

ISLAND GOLD MINE ........................................................................................................................................................... 37

Summary ................................................................................................................................................................................. 37

Property Description, Location, and Access ............................................................................................................................ 37

History ..................................................................................................................................................................................... 38

Geological Setting, Mineralization, and Deposit Types .......................................................................................................... 39

Exploration .............................................................................................................................................................................. 40

Drilling .................................................................................................................................................................................... 41

Sampling, Analysis and Data Verification ............................................................................................................................... 42

Mineral Processing and Metallurgical Testing ........................................................................................................................ 43

Mineral Resource and Mineral Reserve Estimation ................................................................................................................ 43

Mining Operations ................................................................................................................................................................... 43

Processing and Recovery Operations ...................................................................................................................................... 43

Infrastructure, Permitting, and Compliance Activities ............................................................................................................ 44

Capital and Operating Costs .................................................................................................................................................... 44

2024 Outlook ........................................................................................................................................................................... 44

MULATOS MINE ................................................................................................................................................................... 46

Summary ................................................................................................................................................................................. 46

Project Description, Location, and Access .............................................................................................................................. 46

History ..................................................................................................................................................................................... 46

Geological Setting, Mineralization, and Deposit Types .......................................................................................................... 47

Exploration .............................................................................................................................................................................. 48

Drilling .................................................................................................................................................................................... 49

2024 Exploration Outlook ....................................................................................................................................................... 51

Sampling, Analysis and Data Verification ............................................................................................................................... 51

Mineral Processing and Metallurgical Testing ........................................................................................................................ 51

Mineral Resource and Mineral Reserve Estimates .................................................................................................................. 52

Mining Operations ................................................................................................................................................................... 52

Processing and Recovery Operations ...................................................................................................................................... 52

Infrastructure, Permitting and Compliance Activities ............................................................................................................. 52

Capital and Operating Costs .................................................................................................................................................... 53

2024 Outlook ........................................................................................................................................................................... 53

OTHER MINERAL PROPERTIES ......................................................................................................................................... 54

Lynn Lake (Manitoba, Canada) ............................................................................................................................................... 54

Kirazlı, Aği Daği, and Çamyurt (Türkiye) ............................................................................................................................... 54

DECEMBER 31, 2023 MINERAL RESERVES AND MINERAL RESOURCES ................................................................. 55

Qualified Person(s) Disclosure ................................................................................................................................................ 59

Uses of Gold ............................................................................................................................................................................ 59

Sales and Refining ................................................................................................................................................................... 59

Employees ............................................................................................................................................................................... 60

DIVIDENDS ........................................................................................................................................................................... 60

DESCRIPTION OF CAPITAL STRUCTURE ........................................................................................................................ 61

MARKET FOR SECURITIES ................................................................................................................................................ 61

DIRECTORS AND OFFICERS .............................................................................................................................................. 62

AUDIT COMMITTEE ............................................................................................................................................................ 65

INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS ....................................................... 67

TRANSFER AGENT AND REGISTRAR .............................................................................................................................. 67

LEGAL PROCEEDINGS ........................................................................................................................................................ 67

MATERIAL CONTRACTS .................................................................................................................................................... 67

INTERESTS OF EXPERTS .................................................................................................................................................... 67

ADDITIONAL INFORMATION ............................................................................................................................................ 67

SCHEDULE "A" ..................................................................................................................................................................... 68

ANNUAL INFORMATION FORM

("AIF")

ALAMOS GOLD INC.

(the "Company")

PRELIMINARY NOTES

Effective Date of Information

The information in this AIF is current as of March 25, 2024, unless otherwise stated herein.

Currency and Exchange Rates

All dollar amounts in this AIF are expressed in United States dollars unless otherwise indicated ("CAD" denotes Canadian dollars). The following table sets forth the value of the Canadian dollar expressed in United States dollars on December 31 of each year and the average, high, and low exchange rates during the year indicated based on the daily exchange rate as reported by the Bank of Canada.

Canadian Dollars into United States Dollars	2023	2022	2021
Closing	$0.7561	$0.7383	$0.7888
Average	$0.7409	$0.7692	$0.7980
High	$0.7207	$0.8031	$0.8306
Low	$0.7617	$0.7217	$0.7727

The exchange rate on March 25, 2024, as reported by the Bank of Canada for the conversion of United States dollars into Canadian dollars was USD$0.7362 equals CAD$1.00.

Imperial Equivalents

For ease of reference, the following factors for converting metric measurements to imperial equivalents are provided:

To Convert from Metric	To Imperial	Multiply by
Hectares	Acres	2.471
Metres (m)	Feet (ft.)	3.281
Kilometres (km)	Miles	0.621
Tonnes	Tons (2000 pounds)	1.102
Grams/tonne	Ounces/ton (troy/ton)	0.029

Forward-Looking Statements

This AIF contains or incorporates by reference "forward-looking statements" and "forward-looking information" as defined under applicable Canadian and US securities legislation. All statements other than statements of historical fact included in this AIF which address events, results, outcomes or developments that the Company expects to occur are, or may be deemed to be, forward-looking statements. Forward-looking statements are generally, but not always, identified by the use of forward-looking terminology such as "expect", "plan", "anticipate", "believe", assume", "intend", "objective", "estimate", "potential", "forecast", "budget", "target", "goal", "on track", "outlook", "continue", "ongoing", 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. Forward-looking statements in this AIF are based on expectations, estimates and projections as at the date of this AIF.

Forward-looking statements in this AIF include, but may not be limited to, statements and expectations regarding: outlooks for Young-Davidson, Island Gold, and the Mulatos District (including La Yaqui Grande) pertaining to gold grades, production rates, mining and processing rates, total cash costs, mine-site AISC, capital spending, capitalized exploration, cash flow, operational performance, and Mineral Reserve and mine life; increases to production, value of operation and decreases to costs resulting from the intended completion of the Phase 3+ expansion at Island Gold; intended infrastructure investments in, method of funding for, and timing of the completion of, the Phase 3+ expansion; construction activities at Island Gold;

development of the Lynn Lake Gold Project; planned continuation of negotiation of formal agreements with directly affected First Nations in respect of the Lynn Lake Gold Project; planned exploration, drilling targets, exploration potential and results; exploration and mining the deposit at Puerto Del Aire; reductions in GHG emissions; expected completion of the acquisition of Orford Mining Corporation by Alamos; holding costs in Türkiye; schedule for the BIT Claim; as well as other general statements and information as to strategy, plans or future financial or operating performance, such as the Company's expansion plans, project timelines, production plans and expected sustainable productivity increases, expected increases in mining activities and corresponding cost efficiencies, expected exploration programs, targets and budgets, expected sustaining costs, expected improvements in cash flows and margins, expectations of changes in capital expenditures, forecasted cash shortfalls and the Company's ability to fund them, cost estimates, projected exploration results, reserve and resource estimates, expected recoveries, sufficiency of working capital for future commitments, gold prices, returns to stakeholders and other statements that express management's expectations or estimates of future plans and performance.

A Mineral Resource that is classified as "Inferred" or "Indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "Indicated Mineral Resource" or "Inferred Mineral Resource" will ever be upgraded to a higher category of Mineral Resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into Proven and Probable Mineral Reserves.

The Company cautions that forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company at the time of making such statements, are inherently subject to significant business, economic, technical, legal, political and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information.

Such factors and assumptions underlying the forward-looking statements in this document include, but are not limited to: changes to current estimates of mineral reserves and resources; changes to production estimates (which assume accuracy of projected ore grade, mining rates, recovery timing and recovery rate estimates which may be impacted by unscheduled maintenance, weather issues, labour and contractor availability and other operating or technical difficulties); operations may be exposed to new diseases, epidemics and pandemics, including any ongoing effects and potential further effects of COVID-19; the impact of COVID-19 or any other new illness, epidemic or pandemic on the broader market and the trading price of the Company's shares; provincial and federal orders or mandates (including with respect to mining operations generally or auxiliary businesses or services required for the Company's operations) in Canada, Mexico, the United States and Türkiye; the duration of any ongoing or new regulatory responses to COVID-19 or any other new illness, epidemic or pandemic; government and the Company's attempts to reduce the spread of COVID-19 or any other new illness, epidemic or pandemic which may affect many aspects of the Company's operations including the ability to transport personnel to and from site, contractor and supply availability and the ability to sell or deliver gold doré bars; fluctuations in the price of gold or certain other commodities such as, diesel fuel, natural gas, and electricity; changes in foreign exchange rates (particularly the Canadian Dollar, Mexican Peso, U.S. Dollar and Turkish Lira); the impact of inflation; changes in the Company's credit rating; any decision to declare a quarterly dividend; not receiving the requisite approvals for completion of the transaction pursuant to which Alamos would acquire Orford Mining Corporation; employee and community relations; litigation and administrative proceedings (including but not limited to the investment treaty claim announced on April 20, 2021 against the Republic of Türkiye by the Company's wholly-owned Netherlands subsidiaries, Alamos Gold Holdings Coöperatief U.A, and Alamos Gold Holdings B.V., the application for judicial review of the positive Decision Statement issued by the Ministry of Environment and Climate Change Canada commenced by the Mathias Colomb Cree Nation (MCCN) in respect of the Lynn Lake Gold Project and the MCCN's corresponding internal appeal of the Environment Act Licenses issued by the Province of Manitoba for the project) and any resulting court, arbitral and/or administrative decisions; disruptions affecting operations; availability of and increased costs associated with mining inputs and labour; delays with the Phase 3+ expansion project at the Island Gold mine; delays in permitting, construction decisions and any development of the Lynn Lake Gold Project; delays in the development or updating of mine plans; changes with respect to the intended method of accessing and mining the deposit at Puerto Del Aire and changes related to the intended method of processing any ore from the deposit of Puerto Del Aire; the risk that the Company's mines may not perform as planned; uncertainty with the Company's ability to secure additional capital to execute its business plans; the speculative nature of mineral exploration and development, including the risks of obtaining and maintaining necessary licenses and permits, including the necessary licenses, permits, authorizations and/or approvals from the appropriate regulatory authorities for the Company's development stage and operating assets; labour and contractor availability (and being able to secure the same on favourable terms); contests over title to properties; expropriation or nationalization of property; inherent risks and hazards associated with mining and mineral processing including environmental hazards, industrial hazards, industrial accidents, unusual or unexpected formations, pressures and cave-ins; changes in national and local government legislation, controls or regulations in Canada, Mexico, Türkiye, the United States and other jurisdictions in which the Company does or may carry on business in the future; increased costs and risks related to the potential impact of climate change; failure to comply with environmental and health and safety laws and regulations; disruptions in the maintenance or provision of required infrastructure and information technology systems; risk of loss due to sabotage, protests and other civil disturbances; the impact of global liquidity and credit availability and the values of assets and liabilities based on projected future cash flows; risks arising from holding derivative instruments; and business opportunities that may be pursued by the Company. The litigationagainst the Republic of Türkiye, described above, results from the actions of the Turkish government in respect of the Company's projects in the Republic of Türkiye. Such litigation is a mitigation effort and may not be effective or successful. If unsuccessful, the Company's projects in Türkiye may be subject to resource nationalism and further expropriation; the Company may lose any remaining value of its assets and gold mining projects in Türkiye and its ability to operate in Türkiye or to put any of the Kirazli, Aği Daği or Çamyurt sites into production, resulting in the Company removing those three projects from its Total Mineral Reserves and Resources. Even if the litigation is successful, there is no certainty as to the quantum of any damages award or recovery of all, or any, legal costs. Any resumption of activities in Türkiye, or even retaining control of its assets and gold mining projects in Türkiye can only result from agreement with the Turkish government. The investment treaty claim described above may have an impact on foreign direct investment in the Republic of Türkiye which may result in changes to the Turkish economy, including but not limited to high rates of inflation and fluctuation in the Turkish Lira which may also affect the Company's relationship with the Turkish government, the Company's ability to effectively operate in Türkiye, and which may have a negative effect on overall anticipated project values.

Additional risk factors and details with respect to such risk factors are described in the section entitled "Risk Factors" in this AIF. In addition, important factors and assumptions underlying the Company's three-year production and operating guidance may be found in the Company's January 10, 2024, news release (available on SEDAR+ atwww.sedarplus.ca) titled "Alamos Gold Achieves Increased 2023 Guidance with Record Annual Production and Provides Three-Year Production and Operating Guidance". Although the Company has attempted to identify important factors and risks that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.

The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether written or oral, or whether as a result of new information, future events or otherwise, except as required by applicable law.

Cautionary Note to US Investors

Measured, Indicated and Inferred Resources: Unless otherwise indicated, all Mineral Resource and Mineral Reserve estimates included in this AIF have been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the "CIM Standards"). NI 43-101 is a rule developed by the Canadian Securities Administrators, which established standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Mining disclosure in the United States was previously required to comply with SEC Industry Guide 7 ("SEC Industry Guide 7") under the United States Securities Exchange Act of 1934, as amended. The U.S. Securities and Exchange Commission (the "SEC") has adopted final rules, to replace SEC Industry Guide 7 with new mining disclosure rules under sub-part 1300 of Regulation S-K of the U.S. Securities Act ("Regulation S-K 1300") which became mandatory for U.S. reporting companies beginning with the first fiscal year commencing on or after January 1, 2021. Under Regulation S-K 1300, the SEC now recognizes estimates of "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources". In addition, the SEC has amended its definitions of "Proven Mineral Reserves" and "Probable Mineral Reserves" to be substantially similar to international standards.

Investors are cautioned that while the above terms are "substantially similar" to CIM Definitions, there are differences in the definitions under Regulation S-K 1300 and the CIM Standards. Accordingly, there is no assurance any mineral reserves or mineral resources that the Company may report as "proven mineral reserves", "probable mineral reserves", "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the mineral reserve or mineral resource estimates under the standards adopted under Regulation S-K 1300. U.S. investors are also cautioned that while the SEC recognizes "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under Regulation S-K 1300, investors should not assume that any part or all of the mineralization in these categories will ever be converted into a higher category of mineral resources or into mineral reserves. Mineralization described using these terms has a greater degree of uncertainty as to its existence and feasibility than mineralization that has been characterized as reserves. Accordingly, investors are cautioned not to assume that any measured mineral resources, indicated mineral resources, or inferred mineral resources that the Company reports are or will be economically or legally mineable.

Normal Course Issuer Bid ("NCIB")

On December 21, 2022, the Company announced that it filed with and received acceptance from the Toronto Stock Exchange ("TSX") for renewal of its NCIB, permitting it to purchase for cancellation up to 34,670,378 Common Shares, representing ten percent (10%) of the Company's public float as of December 14, 2022. The NCIB provided that the Company may purchase Common Shares over a twelve-month period beginning December 24, 2022 and ending December 23, 2023. The Company did not purchase shares under the NCIB.

On December 21, 2023, the Company announced a further renewal of its NCIB, permitting it to purchase for cancellation up to 3 34,485,405 Common Shares, representing ten percent (10%) of the Company's public float as of December 14, 2023. The NCIB provides that the Company may purchase Common Shares over a twelve-month period beginning December 24, 2023 and ending December 23, 2024. Any purchases made by the Company will be effected through the facilities of the TSX, alternative Canadian trading systems, and/or the NYSE. Between December 24, 2023, and March 25, 2024, the Company did not purchase shares under the NCIB.

Non-GAAP Measures and Additional GAAP Measures

The Company has included certain non-GAAP financial measures to supplement its Consolidated Financial Statements, which are presented in accordance with IFRS, including the following contained herein:

• • total cash cost per ounce of gold sold;

• • mine-site all-in sustaining cost per ounce of gold sold;

• • all-in sustaining cost ("AISC") per ounce of gold sold;

• • sustaining and non-sustaining capital expenditures;

• • growth capital; and

• • mine-site free cash flow.

The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. Non-GAAP financial measures do not have any standardized meaning prescribed under IFRS, and therefore, they may not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Management's determination of the components of non-GAAP and additional measures are evaluated on a periodic basis influenced by new items and transactions, a review of investor uses, and new regulations as applicable. Any changes in the measures are duly noted and retrospectively applied as applicable.

Total Cash Costs per ounce

Total cash costs per ounce is a non-GAAP term typically used by gold mining companies to assess the level of gross margin available to the Company by subtracting these costs from the unit price realized during the period. This non-GAAP term is also used to assess the ability of a mining company to generate cash flow from operations. Total cash costs per ounce includes mining and processing costs plus applicable royalties, net of by-product revenue, and net realizable value adjustments. Total cash costs per ounce is exclusive of exploration costs.

Total cash costs per ounce is intended to provide additional information only and does not have any standardized meaning under IFRS, and may not be comparable to similar measures presented by other mining companies. It should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The measure is not necessarily indicative of cash flow from operations under IFRS or operating costs presented under IFRS.

All-in Sustaining Cost per ounce and Mine-site All-in Sustaining Cost

The Company adopted an "all-in sustaining costs per ounce" non-GAAP performance measure in accordance with the World Gold Council published in June 2013. The Company believes the measure more fully defines the total costs associated with producing gold; however, this performance measure has no standardized meaning. Accordingly, there may be some variation in the method of computation of "all-in sustaining costs per ounce" as determined by the Company compared with other mining companies. In this context, "all-in sustaining costs per ounce" for the consolidated Company reflects total mining and processing costs, corporate and administrative costs, share-based compensation, exploration costs, sustaining capital, and other operating costs.

For the purposes of calculating "mine-site all-in sustaining costs" at the individual mine-sites, the Company does not include an allocation of corporate and administrative costs and share-based compensation.

Sustaining capital expenditures are expenditures that do not increase annual gold ounce production at a mine site and exclude all expenditures at the Company's development projects as well as certain expenditures at the Company's operating sites that are deemed expansionary in nature ("growth capital"). For each mine-site reconciliation, corporate and administrative costs, and non-site-specific costs are excluded in the calculation of mine-site all-in sustaining cost per ounce.

All-in sustaining costs per gold ounce is intended to provide additional information only and does not have any standardized meaning under IFRS and may not be comparable to similar measures presented by other mining companies. It should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

The measure is not necessarily indicative of cash flow from operations under IFRS or operating costs presented under IFRS.

Mine-site Free Cash Flow

"Mine-site free cash flow" is a non-GAAP financial performance measure calculated as cash flow from mine-site operating activities, less mineral property, plant, and equipment expenditures. The Company believes this to be a useful indicator of our ability to operate without reliance on additional borrowing or usage of existing cash. Mine-site free cash flow is intended to provide additional information only and does not have any standardized meaning under IFRS and may not be comparable to similar measures of performance presented by other mining companies. Mine-site free cash flow should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Detailed reconciliations of the non-GAAP measures to IFRS measures for the years ended December 31, 2023, and December 31, 2022, can be found in the Company's MD&A for the year ended December 31, 2023, as available on the Alamos website atwww.alamosgold.comand on the System for Electronic Document Analysis and Retrieval+ (SEDAR+) at www.sedarplus.ca.

GLOSSARY OF TERMS

In this AIF unless otherwise defined or unless there is something in the subject matter or context inconsistent therewith, the following terms have the meanings set forth herein or therein:

"Ag"	Silver.
"AIF"	Annual Information Form.
"AISC"	All-in sustaining cost.
"Alamos"	Alamos Gold Inc. which is also referred to as the "Company".
"Argonaut"	Argonaut Gold Inc.
"ASL"	Analytical Solutions Ltd.
"Au"	Gold.
"Au Rico"	AuRico Gold Inc. with which "Former Alamos" amalgamated under section 182 of the
OBCA pursuant to Articles of Arrangement dated July 2, 2015.
"BIT"	The Netherlands-Türkiye Bilateral Investment Treaty.
"BIT Claim"	The bilateral investment treaty claim commenced against the Republic of Türkiye by the
Company's wholly-owned Netherlands subsidiaries, Alamos Gold Holdings Coöperatief
U.A. and Alamos Gold Holdings B.V., for expropriation and unfair and inequitable
treatment, among other things, in respect of their Ağı Dağı, Kirazlı, and Çamyurt projects
in the Biga district of northwestern Türkiye.
"BWI"	Bond Ball Work Index.
"CAD"	Canadian dollars.
"Canamax"	Canamax Resources Inc.
"CIL"	Carbon-in-leach.
"CIM"	Canadian Institute of Mining, Metallurgy and Petroleum.
"CIM Standards"	Mineral Resources and Mineral Reserves prepared by the CIM Standing Committee on
Reserve Definitions adopted by CIM Council on May 10, 2014.
"CIP"	Carbon-in-pulp.

"CO2e"	Carbon dioxide equivalent.
"Company"	Alamos Gold Inc.
"Construplan"	Grupo Construcciones Planificadas, S.A. de C.V.
"CRM"	Certified reference material.
"doré"	Unrefined gold and silver bullion bars, which will be further refined to almost pure
metal.
"EPS"	The Ontario Emissions Performance Standard under which Young-Davidson and Island
Gold began reporting emissions effective January 1, 2022.
"ETS"	Emissions Trading System.
"Former Alamos"	Alamos Gold Inc. as it existed prior to its amalgamation with AuRico.
"grade"	Term used to indicate the concentration of an economically desirable mineral or element
in its host rock as a function of its relative mass. With gold, this term may be expressed
as grams per tonne ("g/t") or ounces per tonne ("opt").
"g/t Au"	Grams per tonne of gold.
"GDI"	Grupo Desarrollo Infraestructura, S.A. de C.V.
"GHG"	Greenhouse gas.
"GLDZ"	Goudreau Lake Deformation Zone.
"ICP"	Inductively Coupled Plasma.
"IFRS"	International Financial Reporting Standards as issued by the International Accounting
Standards Board; the accounting principles used by the Company.
"Indicated Resource"	That part of a Mineral Resource for which quantity, grade or quality, densities, shape,
or "Indicated	and physical characteristics can be estimated with a level of confidence sufficient to
Mineral Resource"	allow the appropriate application of technical and economic parameters, to support mine
planning and evaluation of the economic viability of the deposit. The estimate is based
on detailed and reliable exploration and testing information gathered through appropriate
techniques from locations such as outcrops, trenches, pits, workings, and drill holes that
are spaced closely enough for geological and grade continuity to be reasonably assumed.
"Inferred Resource"	That part of a Mineral Resource for which quantity and grade or quality can be estimated
or "Inferred Mineral	on the basis of geological evidence and limited sampling and reasonably assumed, but
Resource"	not verified, geological and grade continuity. The estimate is based on limited
information and sampling gathered through appropriate techniques from locations such
as outcrops, trenches, pits, workings, and drill holes.
"Island Gold" or the	The underground gold mine owned and operated by the Company located just east of the
"Island Gold Mine"	town of Dubreuilville, 83 kilometres northeast of Wawa in Northern Ontario.
"Island Gold	The Island Gold Mine and its surrounding project lands.
Property"
"km"	Kilometres.
"kWh/t"	Kilowatt hours per tonne.
"leaching"	The separation, selective removal, or dissolving-out of soluble constituents from a rock
or ore body by the natural actions of percolating solutions.
"LLCFZ"	The regional Larder Lake-Cadillac Fault Zone which cuts across the Young-Davidson
project area.
"Lynn Lake Gold	The Company's development project in Lynn Lake, Manitoba, which is located in
Project" or Lynn	northern Manitoba and consists of two primary sites, MacLellan and Gordon, which are
Lake"	just east of the Town of Lynn Lake.
"m"	Metres.
"Manitou"	Manitou Gold Inc.
"MCM Mine"	Matachewan Consolidated Mines Limited Mine.
"MD&A"	Management's Discussion & Analysis of the Company for the year ended December 31,
2023.

"Measured	That part of a Mineral Resource for which quantity, grade or quality, densities, shape,
Resource" or	physical characteristics are so well established that they can be estimated with
"Measured Mineral	confidence sufficient to allow the appropriate application of technical and economic
Resource"	parameters, to support production planning and evaluation of the economic viability of
the deposit. The estimate is based on detailed and reliable exploration, sampling, and
testing information gathered through appropriate techniques from locations such as
outcrops, trenches, pits, workings, and drill holes that are spaced closely enough to
confirm both geological and grade continuity.
"MGB"	Michipicoten Greenstone Belt.
"Mineral Reserve"	The economically mineable part of a Measured or Indicated Mineral Resource
demonstrated by at least a preliminary feasibility study. The study must include adequate
information on mining, processing, metallurgical, economics, and other relevant factors
that demonstrate, at the time of reporting, that economic extraction can be justified. A
Mineral Reserve includes diluting materials and allowances for losses that occur when
the material is mined and processed.
"Mineral Resource"	A concentration or occurrence of natural, solid, inorganic, or fossilized organic material
in or on the earth's crust in such form and quantity and of such grade or quality that it has
reasonable prospects for economic extraction. The location, quantity, grade, geological
characteristics, and continuity of a Mineral Resource are known, estimated, or interpreted
from specific geological evidence and knowledge. The term "Mineral Resource" covers
mineralization and natural material of intrinsic economic interest which has been
identified and estimated through exploration and sampling and within which Mineral
Reserves may subsequently be defined by the consideration and application of technical,
economic, legal, environmental, socio-economic, and governmental factors. The phrase
"reasonable prospects for economic extraction" implies a judgment by the Qualified
Person in respect of the technical and economic factors likely to influence the prospect of
economic extraction. A Mineral Resource is an inventory of mineralization that under
realistically assumed and justifiable technical and economic conditions might become
economically extractable. The term "Mineral Resource" used in this AIF is a Canadian
mining term as defined in accordance with NI 43-101 under the guidelines set out in the
CIM Standards.
"Modifying Factors"	Considerations used to convert Mineral Resources to Mineral Reserves. These include,
but are not restricted to, mining, processing, metallurgical, infrastructure, economic,
marketing, legal, environmental, social, and governmental factors.
"MON"	Minas de Oro Nacional, S.A. de C.V., a wholly-owned Mexican subsidiary of Alamos.
"Mt"	Million tonnes.
"Mulatos Group of	The Mulatos deposit and satellite gold systems known as Cerro Pelon, La Yaqui, El
Concessions"	Carricito, El Halcon, Las Carboneras, El Jaspe, Puebla, Los Bajios, and La Dura.
"Mulatos Mine"	The Mulatos mine in the state of Sonora, Mexico controlled by MON.
"NCIB"	Normal Course Issuer Bid.
"NI 43-101"	National Instrument 43-101 - Standards of Disclosure for Mineral Projects of the
Canadian Securities Administrators.
"Northgate"	Northgate Minerals Corporation.
"NPI"	Net profit interest royalty.
"NQ diameter"	1.75-inch diameter drill hole.
"NSR"	Net smelter return royalty, consisting of a payment made by a producer of metals based
on the value of the gross metal production from the property, less deduction of certain
limited costs including, but not necessarily limited to, smelting, refining, transportation,
and insurance costs.
"NYSE"	New York Stock Exchange.
"OBCA"	Business Corporations Act (Ontario).
"OBPS"	The Output-Based Pricing System under which Young-Davidson and Island Gold
reported emissions prior to January 1, 2022.
"ore"	A natural aggregate of one or more minerals which, at a specified time and place, may be
mined and sold at a profit, or from which some part may be profitably separated.
"Osisko"	Osisko Gold Royalties Ltd.