Update On Development Plans For The Copperstone Mine

TORONTO - Minera Alamos Inc. reported that the Mine Plan of Operations (MPO) amendment for the Copperstone Mine gold project has been submitted in final form to satisfy the requirements of the United States Code of Federal Regulations Title 43 Subpart 3809 (Code of Federal Regulations), administered by the U.S. Bureau of Land Management (BLM).

All key permits have been received with exception of minor amendments which are due to a slight change in processing technology. The final amendment to the project's MPO is expected to be received prior to YE-2025 which allows full re-start of the Copperstone Mine. Under the authorization from the existing site permits, site development activities can be initiated in parallel with the pending MPO amendment in order to "fast-track" the project restart. A reissued Preliminary Economic Assessment (PEA) in February 2025 demonstrates robust project economics, with an after-tax Net Present Value (NPV) of US$66 million at a gold price of US$1,800/oz and US$200 million at US$2,800/oz. The after-tax Internal Rate of Return (IRR) ranges from 53.6% to 152.7% across these scenarios.

Final planning is underway for the transfer of existing process plant equipment currently owned by Minera Alamos to the Copperstone site so the work can begin for its refurbishment and installation. The Company is reviewing exploration programs previously planned for the site which included up to 15,000 meters of drilling to test 8 existing targets with the potential to demonstrate the significant upside of the asset. Final decisions on the scheduling of exploration efforts will be made to best coincide with production restart activities at the site. Engineering activities have been ramped up to optimize plans for the mine restart and process plant installation. An updated technical study for the project will be released in Q4 2025 to demonstrate the positive impact of these efforts. Project finance discussions continue with a number of interested parties that have provided indicative term sheets. The Company is evaluating all options to support the development restart.

Darren Koningen, CEO, said, "The submission of the final amendment for the Copperstone Gold Mine existing Plan of Operations is a significant step towards meeting our timelines for the restart of operations. The decision to amend the existing Plan of Operations was taken as a result of extensive engineering evaluations demonstrating that the use of a combination of previous processing paths provided a superior economic return for the mine while maximizing operating flexibility for the future. While focusing on optimizing mine plans for greater efficiency and ensuring that our process plant can accommodate future growth, we are also excited to start working to expand the overall resource potential through targeted drilling. By leveraging used equipment and re-evaluating marginal material under current economics, we will continue to work to reduce costs and enhance long-term value for the project."