Development Plan For Los Verdes Project

TORONTO, ON - Minera Alamos Inc. reported its near-term objectives for the development of its Los Verdes copper-molybdenum project in Sonora, Mexico. The company is in the process of moving towards a production decision, targeting project construction to commence in 2016. Minera Alamos intends to issue an updated Preliminary Economic Assessment (PEA) prior to the end of the year.

"The introduction of new technologies and re-sizing of the operation requires us to revisit most aspects of the plan," said Chris Frostad, CEO, Minera Alamos Inc. "Key work requirements and responsibilities have been defined and work is now well underway."

Rock Sorting: Testing is now underway to evaluate the effect of rock sorting on the economics of the project. The "starter pit" identified within the existing 43-101 compliant resource model for Los Verdes contains average grades approaching 2.0% CuEq. By eliminated low-grade rock after crushing, there is further potential to improve that grade by 50-100% prior to processing, resulting in significant reductions in capital and operating costs. Completion of this test work is currently scheduled for late September 2015.

Drilling: The Company intends to initiate definition drilling on the Los Verdes North Deposit (formerly Potreritos) in order to update the historic resource to NI 43-101 compliant standards. This will allow for consideration of its inclusion in the PEA thereby extending the current mine life. With permits already in hand, drilling activities are set to begin immediately and be complete by late October 2015.

Permitting: The Company's existing EIS permit covered the environmental impact of the construction of the Los Verdes processing plant and related infrastructure. Minera Alamos, working with a local consultant, is currently preparing a schedule of required updates to that permit as well as all additional permits that will be necessary leading up to a production decision.

Mine Plan: The company will soon begin a detailed plan for the mining of the starter pit. That work should begin early in September and be complete for inclusion in the PEA.

Plant Re-Design and Equipment Sourcing: The company intends to complete the updated engineering plans for a reduced scale processing operation. These specifications will be used to source appropriate equipment suppliers and initiate a review of available used equipment for the project prior to the completion of the upcoming PEA.