Breaking News

Tweet TWEET

Alamos Gold Reports Fourth Quarter and Year-end 2012 Results

Alamos Gold Reports Fourth Quarter and Year-end 2012 Results 
Best Quarter and Year in the Company's History 
Continued Exploration Success at San Carlos and Camyurt 
TORONTO, ONTARIO -- (Marketwire) -- 02/21/13 -- Alamos Gold Inc.
(TSX:AGI)(NYSE:AGI) ("Alamos" or the "Company") today reported its
financial results for the quarter and year ended December 31, 2012
and reviewed its operating, exploration and development activities.
All amounts are expressed in United States dollars unless otherwise
specified. 
"In 2012, Alamos achieved the best performance for any year in its
history and, in the final three months, posted record results for any
quarter. We established a new benchmark by producing 200,000 ounces
of gold in 2012 (including 67,800 ounces in the fourth quarter) at a
cash operating cost of $355 per ounce, which is at industry-leading
low levels. On a quarterly and annual basis, we set records in terms
of earnings, earnings per share, operating cash flow, and other key
metrics. Moreover, the Company's performance reflects our ongoing
success in achieving outstanding organic growth," said John A.
McCluskey, President and Chief Executive Officer. 
"In Turkey, we remain on schedule with respect to the permitting of
our late-stage development projects. We a
nticipate responses from the
Turkish Government on our Environmental Impact Assessment submissions
for Kirazli and Agi Dagi by the end of the first and second quarters
of 2013, respectively, and we expect our outstanding cash flow and
balance sheet will enable us to self-finance the construction of
these mines," Mr. McCluskey commented. 
Fourth Quarter 2012 Highlights 
Financial Performance 


 
--  Sold 62,516 ounces of gold for record quarterly revenues of $106.9
    million
--  Realized record quarterly earnings of $37.9 million ($0.31 per basic
    share), a 78% increase compared to the fourth quarter of 2011
--  Generated record cash from operating activities before changes in non-
    cash working capital of $53.5 million ($0.44 per basic share); after
    changes in non-cash working capital of $69.2 million ($0.57 per basic
    share)
--  Increased cash and cash equivalents and short-term investments to $353.7
    million at December 31, 2012

 
Operational Performance 


 
--  Produced a record 67,800 ounces of gold at a cash operating cost of $377
    per ounce of gold sold (total cash costs including royalties were $461
    per ounce of gold sold)
--  Achieved record quarterly average crusher throughput of 17,900 tonnes
    per day ("tpd")
--  Continued to improve production from the Escondida high-grade zone
    through higher grades milled, averaging 14.12 g/t Au for the period

 
Full Year 2012 Highlights 
Financial Performance 


 
--  Sold 197,516 ounces of gold at an average realized price of $1,668 per
    ounce for revenues of $329.4 million
--  Realized earnings of $118.0 million ($0.98 per basic share) compared to
    earnings of $60.1 million ($0.51 per share) in 2011
--  Generated strong cash from operating activities before changes in non-
    cash working capital of $178.5 million ($1.49 per basic share) compared
    to $107.2 million ($0.91 per basic share) in 2011
--  Paid a total of $24.0 million in dividends to shareholders ($0.20 per
    basic share)

 
Operational Performance 


 
--  Produced 200,000 ounces of gold at a cash operating cost of $355 per
    ounce of gold sold (total cash costs including royalties were $438 per
    ounce of gold sold), below the Company's guidance range of $365 to $390
    per ounce
--  Achieved record average crusher throughput of 16,000 tonnes per day
--  Started production from the Escondida high-grade zone in the first
    quarter, and achieved design average throughput of 500 tonnes per day
    for the year
--  Reported a net positive ounce reconciliation of 14% comparing mined
    blocks from the global Mulatos Pit to the block model

 
 In addition, subsequent to the fourth quarter of 2012, the Company: 


 
--  Announced an offer to acquire all of the common shares of Aurizon Mines
    Ltd.
--  Released 2013 production guidance of 180,000 to 200,000 ounces at a cash
    operating cost per ounce sold of $415 to $435 per ounce (exclusive of
    the 5% royalty)
--  Commenced trading on the New York Stock Exchange on February 13, 2013
    under the ticker symbol "AGI"
--  Strengthened its management team through the addition of two key hires;
    Andrew Cormier as Vice President of Construction and Development, and
    Jason Dunning as Vice President of Exploration

 
Fourth Quarter and Full Year 2012 Financial Results 
Strong operating margins from higher realized gold prices and
continued low cash costs contributed to the Company generating record
cash provided by operating activities and earnings in the fourth
quarter of 2012. Cash from operating activities before changes in
non-cash working capital in the fourth quarter of 2012 of $53.5
million ($0.44 per basic share) increased 68% relative to the same
period of 2011. 
Earnings before income taxes in the fourth quarter 
of 2012 were $51.9
million or $0.43 per basic share, compared to $37.1 million or $0.31
per basic share in the fourth quarter of 2011. On an after-tax basis,
earnings in the fourth quarter of 2012 of $37.9 million or $0.31 per
basic share increased 78% over the comparable period of 2011 as a
result of a higher number of ounces sold and a lower effective tax
rate. 
On a year-to-date basis, cash flows from operations and earnings
increased substantially in 2012 relative to 2011. For the year ended
December 31, 2012, cash from operating activities before changes in
non-cash working capital of $178.5 million ($1.49 per basic share)
increased 68% compared to $106.5 million ($0.91 per basic share) in
2011. Earnings of $118.0 million ($0.98 per basic share) increased
96% compared to $60.1 million ($0.51 per basic share) in 2011. 
Capital expenditures for 2012 totalled $57.4 million. Operating
capital spending in Mexico in 2012 included sustaining and expansion
capital of $20.8 million, consisting of $1.4 million for construction
primarily related to achieving cyanide code certification, $4.9
million related to completing the gravity mill and crushing circuit
in the first quarter, $5.7 million for component changes, $2.0
million for the addition of interlift liners on the leach pad and
$6.8 million of other capital. 
In addition, the Company invested $17.4 million in development
activities in Mexico, focused on completing Escondida stripping
activities and capitalized exploration expenditures, as well as $18.9
million on development projects in Turkey. 
Key financial highlights for the fourth quarter and full year 2012
compared to the fourth quarter and full year 2011 are presented at
the end of this release in Table 1. The unaudited consolidated
statements of financial position, comprehensive income, and cash
flows for the three months and years ended December 31, 2012 and 2011
are presented at the end of this release in Table 2. 
Fourth Quarter and Full Year 2012 Operating Results 
In the fourth quarter of 2012, production reached a record of 67,800
ounces of gold, 46% higher than production of 46,500 ounces in the
fourth quarter of 2011, and 41% higher than the previous quarterly
production record of 48,200 ounces. Gold production in the fourth
quarter benefited from higher than budgeted throughput and grade from
the gravity mill, which is processing ore from the Escondida
high-grade zone. 
Total crusher throughput in the fourth quarter of 2012 averaged a
record 17,900 tpd, above the annual budgeted rate of 17,500 tpd and
12% higher than 16,000 tpd in the same period last year. Higher
crusher throughput was achieved through a reduction in downtime
resulting from improved maintenance practices. Mill production from
the Escondida high-grade zone continued to improve in the fourth
quarter of 2012, with daily average throughput of 630 tonnes
exceeding budgeted levels. 
The grade of the crushed ore stacked on the leach pad in the fourth
quarter of 2012 of 1.20 g/t Au was higher than the full year budgeted
grade of 1.00 g/t Au, but below the grade in the fourth quarter of
2011 of 1.33 g/t Au. Applying higher gold price assumptions to the
mine model has resulted in material previously classified as waste
becoming economic to mine and therefore classified as low grade ore.
This has the effect of lowering the average grade mined. 
The grade of the Escondida high-grade zone mined and milled rose to
14.12 g/t Au in the fourth quarter, an increase from the grade milled
in the third quarter of 13.25 g/t Au. 
The ratio of ounces produced to contained ounces stacked or milled
("recovery ratio") was 78% in the fourth quarter of 2012. The
recovery ratio in the fourth quarter benefited from gold production
deferred from the third quarter as a result of dilution on the heap
leach pad during the rainy season. 
Higher gold production for the full year 2012 relative to the same
period of 2011 was primarily attributable to production from the
gravity mill, which started operation in early 2012. Gold production
in 2012 also benefited from a 13% increase in crushed ore stacked in
relation to the same period of 2011, partially offset by a 9%
decrease in the grade stacked on the leach pad. 
Cash operating costs in 2012 were $355 per ounce of gold sold, below
the Company's revised full year guidance range of $360 per ounce.
Cash operating costs per ounce in 2012 were 4% less than in the same
period last year due to lower cost ounces produced from the gravity
mill in 2012, as well as the weakening Mexican peso, partially offset
by higher input costs. 
Crusher throughput in 2012 averaged 16,000 tpd, 13% higher than
14,100 tpd in the same period of last year. Crusher throughput
increased steadily throughout 2012, reaching 17,900
 tpd in the fourth
quarter. The Company anticipates crusher throughput in 2013 will
average 17,500 tpd. 
The grade of the crushed ore stacked on the leach pad in 2012 of 1.19
g/t Au was 19% higher than the full year budgeted grade of 1.00 g/t
Au. The reconciliation of mined blocks to the block model for the
Global Mulatos Pit, including Escondida, for the year ended December
31, 2012 was +7%, +6% and +14% for tonnes, grade and ounces
respectively. Since the start of mining activities in 2005, the
reconciliation is +2%, +7%, +10% for tonnes, grade and ounces,
respectively. Positive variances indicate that the Company is mining
more gold than was indicated in the reserve model. 
Improvements in ore control practices throughout the year have been
reflected in the grade mined and milled as well as the block model
reconciliation results. The grade milled in 2012 was 12.49 g/t Au,
and improved every quarter since the start-up of the gravity mill in
the first quarter. To date, the Company has mined and milled a total
of 176,000 tonnes from the Escondida high-grade zone, representing
approximately 41% of the pit-contained high-grade mineral reserve
tonnes. 
The recovery ratio in 2012 was 70%, below the Company's budgeted
average recovery ratio for the year of 77%. This lower recovery ratio
was the result of the deferral of gold production from the gravity
mill as a result of lower than budgeted mill recoveries. 
Key operational metrics and production statistics for the fourth
quarter and full year 2012 compared to the same periods of 2011 are
presented in Table 3 at the end of this press release. 
Turkey Developments 
The Company has submitted the final environmental impact assessment
("EIA") report for Kirazli, and expects a response from the Turkish
Government in the first quarter of 2013. The final Agi Dagi EIA
report is expected to be submitted in the first quarter of 2013, with
a response expected in the second quarter. Permitting and
construction activities are expected to take up to 18 months once the
EIAs are approved. The Company is also committed to aggressively
drilling the Camyurt project to bring inferred mineral resource
ounces into the measured and indicated categories, which is the next
step in fast-tracking Camyurt toward production. 
Fourth Quarter 2012 Exploration Update 
Total exploration expenditures in 2012 were $18.0 million. In Mexico,
total exploration spending was $8.9 million. This included $5.9
million of drilling costs at East Estrella, San Carlos and El Victor,
which were capitalized, and $3.0 million of early-stage exploration
and administration costs, which were expensed. Total exploration
spending in Turkey was $9.1 million, of which $3.5 million related to
drilling at Firetower and Rock Pile was expensed, while $5.6 million
related to development work at Camyurt, Agi Dagi and Kirazli was
capitalized. 
Mexico 
Exploration expenditures in Mexico in 2012 totalled $8.9 million. The
Company completed 48,822 metres ("m") of reverse circulation ("RC")
drilling in 453 holes and 7,174 m of core drilling in 40 holes in
2012. Exploration activities in the fourth quarter were primarily
focused on completing infill and step-out drilling programs at El
Victor and East Estrella to upgrade mineral resources to the measured
and indicated categories, and continued deep directional drilling at
San Carlos. Three drill rigs were active during the fourth quarter,
with two rigs allocated to drilling at San Carlos. 
El Victor North 
The El Victor North area contains gold-bearing silica and advanced
argillic alteration contiguous with the El Victor deposit. El Victor
North has the potential to expand mineral resources and reserves
along the northern boundary of the Gap to El Victor trend. The
results of the drill program are expected to extend the El Victor pit
design north and west of the current pit design outline. 
Total exploration spending at El Victor North was $2.8 million with a
total of 3,124 m in four RC holes, for a total of 2,300 m in 13 core
holes and 18,145 m in 120 RC holes drilled in 2012. Ore-grade
mineralization has been extended up to 300 m to the north over a
strike length of 550 m contiguous with the El Victor mineral reserve.
Wide intervals of low-grade mineralization with local high-grade
intercepts have been encountered. The majority of thick low-grade
intercepts are hosted by advanced argillic alteration, with local
high-grade gold in vuggy silica zones. The Company completed the
infill and step-out drilling program to upgrade the resource to the
measured and indicated category. New drill holes at the extreme north
edge of the deposit extend the deposit an additional 80 m north of
previous intercepts to a distance 420 m north of the main El Victor
deposit axis. 
Recent highlighted intercepts from drilling include: 


 
  2.040 g/t Au over 76.22 m (12EV242)
  1.735 g/t Au over 50.80 m (12EV248)
  1.304 g/t Au over 27.44 m and 1.725 g/t Au over 30.49 m (12EV289)

 
Drilling was completed prior to year end, with results to be included
in the 2012 mineral reserve and resource update. Relevant assay
results from the recent drilling at El Victor North are presented in
Table 4 at the end of this press release. Locations of the drill
collars of the highlighted drill intercepts at El Victor North are
presented in Figure 1. 
East Estrella 
Exploration drilling directly east of the Mulatos pit southeast wall
continued through the quarter. Condemnation drilling completed to
investigate a proposed waste dump site east of the Estrella Pit by
previous operators encountered a number of near-surface gold
intercepts along with localized high-grade silver mineralization.
Drilling earlier in the year confirmed widespread gold-silver-copper
mineralization in the area, and the program expanded significantly to
develop measured and indicated resources. Mineralization in the
northern part of the project area is gold-dominant, near-surface, and
stratiform, and structurally controlled with higher contents of 
silver and copper to the south. An additional 3,386 m of drilling was
completed in 26 RC holes during the quarter, for a total of 13,165 m
in 93 RC and 920 m in seven core holes. 
Recent highlighted intercepts from drilling conducted to date
include: 


 
  1.798 g/t Au over 25.55 m (12SX064)
 
  4.396 g/t Au over 51.65 m, including 9.983 g/t Au over 5.45 m and 7.371
  g/t Au over 6.5 m (12SX081)
 
  2.600 g/t Au over 24.60 m (12SX089)

 
Highlighted silver intercepts from recent drilling include: 


 
  386.2 g/t Ag over 13.10 m (12SX069)
 
  1078.4 g/t Ag over 5.70 m (12SX070)
 
  403.2 g/t Ag over 9.30 m (12SX077)
 
  121.1 g/t Ag over 17.80m (12SX081)

 
Relevant assay results from the recent drilling at East Estrella are
presented in Tables 5 and 6 at the end of this press release.
Locations of the drill collars of the highlighted drill intercepts at
East Estrella are presented in Figure 2. 
San Carlos 
Drilling resumed at San Carlos during the fourth quarter, targeted at
deep high-grade gold mineralization extending to the east of the San
Carlos resource and reserve. High-grade intercepts have been
encountered up to 500 m from the existing pit boundary. An infill and
step-out directional drilling program is currently in progress to
define the mineralization extents and develop the resource. Drill
progress has been relatively slow at San Carlos due to the
directional drilling complexity and deep, deviating drill holes that
have to be steered to the target. During the fourth quarter, nine
directional holes were completed by RC pilot holes with core tails,
for a total of 3,096 m of drilling. In 2012, a total of 9,386 m of
drilling was completed in 25 RC holes, and 1,319 m in three core
holes. 
In 2011, the Company obtained positive results from metallurgical
testing conducted on high-grade ore at San Carlos. The results
indicated that the high-grade ore at San Carlos is amenable to
gravity separation and capable of providing an additional source of
feed for the gravity mill. Ultimate recovery rates (gravity
separation followed by leaching the tailings with cyanide) were 78%
and 70% for the two large samples processed. The Company has
high-grade proven and probable mineral reserves at San Carlos of
649,000 tonnes grading 7.670 g/t Au for approximately 160,000
contained ounces. The Company continues to evaluate the potential to
mine a portion of the San Carlos deposit through underground mining
methods. 
Highlighted intercepts from recently conducted drilling include: 


 
  7.729 g/t Au over 4.65 m (12SC177)
  3.839 g/t Au over 17.55 m, including 10.517 g/t Au over 4.15 m (12SC178)
  5.154 g/t Au over 17.3 m (12SC178B)
  12.850 g/t Au over 6.09m, including 24.325 g/t Au over 3.04m (12SC183)

 
Relevant assay results from the recent drilling at San Carlos are
presented in Table 7 at the end of this press release. Locations of
the drill collars of the highlighted drill intercepts at San Carlos
are presented in Figure 3. 
El Realito 
Drill hole data from the 2004 to 2006 El Realito drilling programs
has been re-evaluated in light of current gold prices and developed
into a new geologic model that will be subject to a preliminary
resource estimation. Oxide gold mineralization with local high-grade
intervals was delineated during the previous exploration programs,
and mineralization remains open. A 60-hole infill and step-out
drilling program is planned for the first half of 2013 to further
develop the resource. 
Turkey 
Exploration expenditures in Turkey totalled $9.1 million in 2012. Up
to eight drill rigs were active throughout the fourth quarter,
drilling a total of 30,478 m in 165 holes in 2012. Drilling included
22 holes across the project, for engineering purposes. 
Camyurt 
Resource infill and expansion drilling continued through the fourth
quarter and is ongoing, with 8,302 m completed in 47 core holes in
2012. The Company published an initial pit-constrained inferred
mineral resource estimate of 24.6 million tonnes grading 0.810 g/t Au
and 4.7 g/t Ag for 640,000 ounces of gold and 3.8 million ounces of
silver at Camyurt, applying a 0.2 g/t Au cut-off. The Camyurt project
is located approximately three km southeast of the Company's
development-stage Agi Dagi project. Drilling at Camyurt has defined a
mineralized zone that is continuous for at least 1,200 m along
strike, with additional potential to extend mineralization to the
northeast and at depth. 
Gold mineralization is hosted within a tabular, steeply-dipping
oxidized zone starting at surface and with a cross-strike width up to
150 m. The average drill spacing is approximately 55 m along strike,
and 59 drill holes were used in the estimate. The new inferred
mineral resource estimate for Camyurt represents a significant
addition to the Company's mineral resource base in Turkey. In
addition, the average grade of the mineral resource is substantially
higher than at the Agi Dagi and Kirazli projects. The Company intends
to continue expanding mineral resources at Camyurt in 2013. 
Recent highlighted intercept from drilling conducted to date include: 


 
  1.718 g/t Au over 55.1 m (12CYD64)
  2.708 g/t Au over 17.0 m (12CYD68)
  1.243 g/t Au over 126.2 m (12CYD70)
  1.035 g/t Au over 96.7 m (12CYD71)
  2.900 g/t Au over 23.6 m (12CYD72)

 
Relevant assay results from the recent drilling at Camyurt are
presented in Table 8 at the end of this press release. Locations of
the drill collars of the highlighted drill intercepts at Camyurt are
presented in Figure 4. 
Agi Dagi 
The Agi Dagi project is comprised of the two principle resource areas
at Baba and Deli, connected by the Firetower zone of advanced
argillic and silic alteration. The Baba-Firetower-Deli zone of
mineralization extends at least 4.3 kilometers ("km") along a
northeast-southwest trend. During 2012, 42 drill holes were completed
at Baba and Firetower, for 10,990 m of drilling. 
A portion of the Firetower mineral resource area was included in the
Company's year-end 2011 mineral reserve and resource statement as
inferred mineral resources. However, these were not incorporated into
the June 2012 preliminary feasibility study as it included only
measured and indicated resources. Upgrading these mineral resources
to measured and indicated is expected to improve the economics of the
Agi Dagi project. 
Two parallel trends of advanced argillic and silicic alteration occur
to the northwest of the Baba-Deli trend. The Ayi Tepe-Firetower North
zone is approximately two km long, defined by relatively wide spaced
drilling. Similar alteration occurs along the discontinuous
Tavasan-Ihlamur zone, approximately 4.5 km long. Both zones have not
been fully defined by drilling. The Ayi Tepe-Firetower North and
Tavasan-Ihlamur zones occur approximately 300 m and one km northwest
of the Baba-Deli trend, respectively. Fifteen exploration drill holes
were completed in these areas in 2012, for 3,836 m of drilling. 
Highlighted intercepts from drilling include: 


 
 
 2.180 g/t Au over 50.3 m, including 7.23 g/t Au over 7.1 m (11AD546)
  1.372 g/t Au over 42.5 m (12AD609)

 
Relevant assay results from the recent drilling at Agi Dagi are
presented in Table 9 at the end of this press release. 
Kirazli 
The 2012 drill program at Kirazli was completed in the previous
quarter, with 19 infill and expansion holes drilled at the Kirazli
main zone, and 14 completed at Rockpile. 
Recent highlighted intercept from drilling include: 


 
  5.948 g/t Au over 10.3 m (12KD200)
  1.620 g/t Au over 32.6 m (12KD205)
  2.211 g/t Au over 22.6 m (12KD208)

 
Relevant assay results from the recent drilling at Kirazli are
presented in Table 10 at the end of this press release. 
Outlook 
The Company anticipates producing between 180,000 and 200,000 ounces
of gold in 2013 at a cash operating cost of $415 to $435 per ounce of
gold sold, excluding a 5% royalty. If the 5% royalty is included, and
assuming a $1,700 gold price, total cash costs are expected to be
between $500 and $520 per ounce of gold sold. 
The 2013 Mulatos capital and development budget is $40.7 million.
Operating and expansion capital spending is forecasted to be
approximately $21.4 million in 2013, consistent with 2012.
Development spending in 2013 is budgeted to be $19.3 million and will
be focused on underground development of the San Carlos and Escondida
North areas, in order to access high-grade ore to provide additional
gravity mill feed. In addition, the Company expects to commence
construction of an access ramp from the Estrella portion of the
Mulatos Pit to the El Victor and San Carlos deposit areas. 
The Company's mineral reserve and resource update is expected to be
released at the end of the first quarter of 2013. The current focus
of exploration at Mulatos is on continuing to delineate high-grade
mineral reserves to provide mill feed beyond the life of the
Escondida high-grade deposit. 
In Turkey, the Company published an NI 43-101 compliant preliminary
feasibility study summary of the Agi Dagi and Kirazli projects in
June 2012, which demonstrated robust economics and supported the
Company's decision to proceed with permitting and development
activities. Total development spending related to the Turkish
projects in 2013 is expected to be approximately $69.3 million. 
In the first quarter of 2013, the Company expects to receive a
response from the Turkish government with respect to EIA approval for
the Kirazli project. The final EIA for the Agi Dagi project will be
submitted in the first quarter of 2013 with approval expected in the
second quarter of the year. The Company is also committed to
aggressively drilling the Camyurt project, which is the next step in
fast-tracking the project toward production. 
The Company continues to strengthen its financial position,
generating over $131 million in free cash flow from the Mulatos Mine
in 2012. The Company`s development capital and exploration spending
in 2013 is all expected to be financed from cash flow. 
If the acquisition of Aurizon is successful, the combined Company
will have geographic and operational diversity, with producing assets
in Canada and Mexico and a strong growth development pipeline in
Turkey. Furthermore, after payment of the CAD$305 million cash
portion of the acquisition cost, it is expected that the combined
Company would have in excess of $250 million in cash and cash
equivalents and short-term investments, providing a strong financial
platform for future organic growth or acquisitions. 
Update on Aurizon Offer 
On January 14, 2013, the Company announced that it has commenced an
offer to acquire Aurizon Mines Ltd. ("Aurizon") for approximately
CAD$780 million in cash and shares (the "Offer"). On February 18,
2013, Alamos and Aurizon consented to an order by the British
Columbia Securities Commission to cease trade the Aurizon Shareholder
Rights Plan on March 4, 2013. Accordingly, the Company announced that
it was extending the Offer to 5:00 p.m. (local time) on March 5, 
2013, unless further extended or withdrawn. 
Under the terms of the Offer, Alamos proposes to acquire all of the
issued and outstanding Aurizon Shares ("Aurizon Shares") for
consideration of, at the election of each Aurizon shareholder, either
(i) 0.2801 common shares of the Company ("Alamos Shares"), or (ii)
CAD$4.65 in cash, in each case, subject to pro-ration based on a
maximum cash consideration of CAD$305 million and a maximum number of
Alamos Shares issued of 23,500,000. 
Prior to January 14, 2013, Alamos acquired, for the same
consideration available to Aurizon shareholders under the Offer,
23,507,283 Aurizon Shares pursuant to share purchase agreements
entered into between Alamos and certain shareholders of Aurizon.
After giving effect to the transactions referred to above, Alamos
owns or controls 26,507,283 Aurizon Shares, representing over 16% of
the issued and outstanding Aurizon Shares. 
The Offer is conditional upon Alamos acquiring that number of Aurizon
shares, which, together with the Aurizon shares already owned by
Alamos, represent not less than 66 2/3 percent of the outstanding
Aurizon Shares calculated on a fully-diluted basis, as well as
receipt of all necessary governmental or regulatory approvals and
other customary unsolicited offer conditions. 
Associated Documents 
This press release should be read in conjunction with the Company's
consolidated financial statements for the years ended December 31,
2012 and December 31, 2011 and associated Management's Discussion and
Analysis ("MD&A"), which are available from the Company's website,
www.alamosgold.com, in the "Investor Centre" tab in the "Reports and
Financial Statements" section, and on SEDAR (www.sedar.com) and EDGAR
(www.sec.gov). 
Reminder of Fourth Quarter 2012 Results Conference Call 
The Company's senior management will host a conference call on
Thursday, February 21, 2013 at 12:00 pm ET to discuss fourth quarter
and year-end 2012 financial results and update operating,
exploration, and development activities. 
Participants may join the conference call by dialling 1 (877)
240-9772 or (416) 340-9531, or via webcast on the Company's website
at www.alamosgold.com. 
A playback of the conference call will be available until March 7,
2013 by dialling 1 (800) 408-3053 or (905) 694-9451 (pass code
8854574). The webcast will be archived at www.alamosgold.com. 
QA/QC Programs 
Agi Dagi, Kirazli and Camyurt exploration programs were conducted
under the supervision of Charles Tarnocai, PhD in Geology, Alamos'
Vice President of Corporate Development, a Qualified Person as
defined by National Instrument 43-101 of the Canadian Securities
Administrators. Strict sampling and QA/QC protocol are followed,
including the insertion of standards, blanks, and duplicates on a
regular basis. Sample intervals are usually 1.0 to 1.5 m. Agi Dagi,
Kirazli and Camyurt samples are sent to Acme Analytical Laboratories
in Ankara, Turkey for sample preparation and then to Vancouver,
British Columbia, Canada or Santiago, Chile for analysis. Analytical
method is fire assay with atomic adsorption finish and gravimetric
finish for individual samples with a gold concentration greater than
3.0 g/t Au. 
Mulatos exploration programs are conducted under the supervision of
Ken Balleweg, B.Sc. Geological Engineering, M.Sc. Geology, Registered
Professional Geologist, Alamos' Mexico Exploration Manager. Mr.
Balleweg is a Qualified Person as defined by National Instrument
43-101 of the Canadian Securities Administrators. Strict sampling and
QA/QC protocol are followed, including the insertion of standards,
blanks, and duplicates on a regular basis. Sample intervals are
usually 0.5 to 1.5 m. Mulatos samples are sent to ALS Chemex Inc. in
Hermosillo, Mexico for sample preparation and then to Vancouver,
British Columbia, Canada for analysis. Analytical method is fire
assay with atomic adsorption finish and gravimetric finish for
individual samples with a gold concentration greater than 5.0 g/t Au. 
The Sampling and QA/QC work was reviewed by Gary N. Lustig, MSc.
Geology, P.Geo, Registered Professional Geoscientist, Principal of
G.N. Lustig Consulting Ltd. Mr. Lustig is a Qualified Person as
defined by National Instrument 43-101 of the Canadian Securities
Administrators. 
Marc Jutras, P. Eng., M.A.Sc., Director of Mineral Resources for
Alamos, prepared or supervised the mineral resource estimation for
the Mulatos Mine, and the Agi Dagi and Kirazli projects. Mr. Jutras
is a Qualified Person as defined by National Instrument 43-101 of the
Canadian Securities Administrators. 
About Alamos 
Alamos is an established Canadian-based gold producer that owns and
operates the Mulatos Mine in Mexico, and has exploration and
development activities in Mexico and Turkey. The Company employs more
than 600 people and is committed to the highest standards of
environmental management, social responsibility, and health and
safety for its employees and neighbouring communities. Alamos has
over $350 million cash and 
short-term investments, is debt-free, and
unhedged to the price of gold. As of February 19, 2013, Alamos had
127,455,786 common shares outstanding (132,326,086 shares fully
diluted), which are traded on the TSX and NYSE under the symbol
"AGI". 
Cautionary non-GAAP Measures and Additional GAAP Measures 
Note that for purposes of this section, GAAP refers to IFRS. The
Company believes that investors use certain non-GAAP and additional
GAAP measures as indicators to assess gold mining companies. They are
intended to provide additional information and should not be
considered in isolation or as a substitute for measures of
performance prepared with GAAP. 
Additional GAAP measures that are presented on the face of the
Company's consolidated statements of comprehensive income include
"Mine operating costs", "Earnings from mine operations" and "Earnings
from operations". These measures are intended to provide an
indication of the Company's mine and operating performance. "Cash
flow from operating activities before changes in non-cash working
capital" is a non-GAAP performance measure that could provide an
indication of the Company's ability to generate cash flows from
operations, and is calculated by adding back the change in non-cash
working capital to "Cash provided by (used in) operating activities"
as presented on the Company's consolidated statements of cash flows.
"Mining cost per tonne of ore" and "
Cost per tonne of ore" are
non-GAAP performance measures that could provide an indication of the
mining and processing efficiency and effectiveness of the mine. These
measures are calculated by dividing the relevant mining and
processing costs and total costs by the tonnes of ore processed in
the period. "Cost per tonne of ore" is usually affected by operating
efficiencies and waste-to-ore ratios in the period. "Cash operating
costs per ounce" and "total cash costs per ounce" as used in this
analysis are non-GAAP terms 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. These non-GAAP terms are also used to assess the ability of a
mining company to generate cash flow from operations. There may be
some variation in the method of computation of "cash operating costs
per ounce" as determined by the Company compared with other mining
companies. In this context, "cash operating costs per ounce" reflects
the cash operating costs allocated from in-process and dore inventory
associated with ounces of gold sold in the period. "Cash operating
costs per ounce" may vary from one period to another due to operating
efficiencies, waste-to-ore ratios, grade of ore processed and gold
recovery rates in the period. "Total cash costs per ounce" includes
"cash operating costs per ounce" plus applicable royalties. Cash
operating costs per ounce and total cash costs per ounce are
exclusive of exploration costs. Non-GAAP and additional GAAP measures
do not have a standardized meaning prescribed under IFRS and
therefore may not be comparable to similar measures presented by
other companies. 
Cautionary Note 
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein. This News Release includes certain "forward-looking
statements". All statements other than statements of historical fact
included in this release, including without limitation statements
regarding forecast gold production, gold grades, recoveries,
waste-to-ore ratios, total cash costs, potential mineralization and
reserves, exploration results, and future plans and objectives of
Alamos, are forward-looking statements that involve various risks and
uncertainties. These forward-looking statements include, but are not
limited to, statements with respect to mining and processing of mined
ore, achieving projected recovery rates, anticipated production rates
and mine life, operating efficiencies, costs and expenditures,
changes in mineral resources and conversion of mineral resources to
proven and probable reserves, and other information that is based on
forecasts of future operational or financial results, estimates of
amounts not yet determinable and assumptions of manage
ment. 
Exploration results that include geophysics, sampling, and drill
results on wide spacings may not be indicative of the occurrence of a
mineral deposit. Such results do not provide assurance that further
work will establish sufficient grade, continuity, metallurgical
characteristics and economic potential to be classed as a category of
mineral resource. 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 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 reserves. 
Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always,
using words or phrases such as "expects" or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
"estimates" or "intends", or stating that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or
be achieved) are not statements of historical fact and may be
"forward-looking statements." Forward-looking statements are subject
to a variety of risks and uncertainties that could cause actual
events or results to differ from those reflected in the
forward-looking statements. 
There can be no assurance that forward-looking statements will prove
to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from
Alamos' expectations include, among others, risks related to
international operations, the actual results of current exploration
activities, conclusions of economic evaluations and changes in
project parameters as plans continue to be refined as well as future
prices of gold and silver, as well as those factors discussed in the
section entitled "Risk Factors" in Alamos' Annual Information Form.
Although Alamos has attempted to identify important factors 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. Accordingly,
readers should not place undue reliance on forward-looking
statements. 
Note to U.S. Investors 
Alamos prepares its disclosure in accordance with the requirements of
securities laws in effect in Canada, which differ from the
requirements of U.S. securities laws. Terms relating to mineral
resources in this presentation are defined in accordance with
National Instrument 43-101 - Standards of Disclosure for Mineral
Projects under the guidelines set out in the Canadian Institute of
Mining, Metallurgy, and Petroleum Standards on Mineral Resources and
Mineral Reserves. The United States Securities and Exchange
Commission (the "SEC") permits mining companies, in their filings
with the SEC, to disclose only those mineral deposits that a company
can economically and legally extract or produce. Alamos may use
certain terms, such as "measured mineral resources", "indicated
mineral resources", "inferred mineral resources" and "probable
mineral reserves" that the SEC does not recognize (these terms may be
used in this presentation and are included in the public filings of
Alamos, which have been filed with the SEC and the securities
commissions or similar authorities in Canada). 


 
 
Table 1: Financial
 Highlights
----------------------------------------------------------------------------
                                  Q4           Q4
                                2012         2011         2012         2011
----------------------------------------------------------------------------
 
Cash provided by
 operating activities
 before
 changes in non-cash
 working
 capital(000)(1)(2)     $     53,523 $     31,801 $    178,534 $    107,226
Changes in non-cash
 working capital        $     15,648 $      5,474 $      6,062 $       (692)
Cash provided by
 operating activities
 (000)                  $     69,171 $     37,275 $    184,596 $    106,534
Earnings before income
 taxes (000)            $     51,943 $     37,138 $    166,925 $    105,935
Earnings (000)          $     37,906 $     21,294 $    117,956 $     60,081
Earnings per share
- basic                 $       0.31 $       0.18 $       0.98 $       0.51
- diluted               $       0.31 $       0.18 $       0.98 $       0.51
Comprehensive income
 (000)                  $     38,812 $     21,703 $    117,972 $     60,333
Weighted average number
 of common shares
 outstanding             120,796,000  118,308,000  119,861,000  117,375,000
- basic                  121,746,000  119,563,000  120,904,000  118,669,000
- diluted
Assets (000) (3)                                  $    753,856 $    599,224
 
(1) A non-GAAP measure calculated as cash provided by operating activities
    as presented on the consolidated statements of cash flows and adding
    back changes in non-cash working capital.
(2) Refer to "Cautionary non-GAAP Measures and Additional GAAP Measures"
    disclosure in this press release for a description and calculation of
    this measure.
(3) Assets are shown as at December 31, 2012 and December 31, 2011.
 
 
      Table 2: Unaudited Consolidated Statements of Financial Position,
                     Comprehensive Income, and Cash Flows
 
ALAMOS GOLD INC.
Consolidated Statements of Financial Position
(Unaudited - stated in thousands of United States dollars)
 
                                              December 31,     December 31,
                                                      2012             2011
                                          ---------------- ----------------
ASSETS
Current Assets
Cash and cash equivalents                 $        306,056 $        169,471
Short-term investments                              47,654           53,088
Amounts receivable                                   7,647            6,147
Advances and prepaid expenses                        3,207            2,117
Available-for-sale securities                       10,340           10,355
Other financial assets                               1,118              244
Inventory                                           42,046           33,220
                                          ---------------- ----------------
Total Current Assets                               418,068          274,642
 
Non-Current Assets
Other non-current assets                             1,058                -
Exploration and evaluation assets                  127,015          108,454
Mineral property, plant and equipment              207,715          216,128
                                          ---------------- ----------------
Total Assets                              $        753,856 $        599,224
                                          ---------------- ----------------
                                          ---------------- ----------------
 
LIABILITIES
Current Liabilities
Accounts payable and accrued liabilities  $         24,874 $         17,024
Income taxes payable                                15,497            6,125
                                          ---------------- ----------------
Total Current Liabilities                           40,371           23,149
 
Non-Current Liabilities
Deferred income taxes                               38,365           35,008
Decommissioning liability                           13,934            6,680
Other liabilities                                      714              837
                                          ---------------- ----------------
Total Liabilities                                   93,384           65,674
                                          ---------------- ----------------
 
EQUITY
Share capital                             $        393,752 $        355,524
Contributed surplus                                 22,606           27,861
Accumulated other comprehensive loss                (1,064)          (1,080)
Retained earnings                                  245,178          151,245
                                          ---------------- ----------------
Total Equity                                       660,472          533,550
                                          ---------------- ----------------
Total Liabilities and Equity              $        753,856 $        599,224
                                          ---------------- ----------------
                                          ---------------- ----------------
 
 
ALAMOS GOLD INC.
Consolidated Statements of Comprehensive Income
(Unaudited - stated in thousands of United States dollars, except per share
amounts)
 
                           For the three-month           For the year
                              periods ended                 ended
                               December 31,              December 31,
                        ----------------------------------------------------
                                2012         2011         2012         2011
                        ----------------------------------------------------
OPERATING REVENUES           106,946       71,133 $    329,372 $    227,364
                        ----------------------------------------------------
 
MINE OPERATING COSTS
Mining and processing         23,480       16,319       70,168       53,868
Royalties                      5,255        3,573       16,411       11,157
Amortization                  18,115        6,880       50,678       23,423
                        ----------------------------------------------------
                              46,850       26,772      137,257       88,448
                        ----------------------------------------------------
EARNINGS FROM MINE
 OPERATIONS                   60,096       44,361      192,115      138,916
EXPENSES
Exploration                    1,448        3,236        6,488        9,540
Corporate and
 administrative                4,758        2,142       14,177        9,613
Share-based compensation         876        3,260        7,634       13,525
                        ----------------------------------------------------
                               7,082        8,638       28,299       32,678
                        ----------------------------------------------------
EARNINGS FROM OPERATIONS      53,014       35,723      163,816      106,238
 
OTHER INCOME (EXPENSES)
Finance income                   689          489        3,133        1,717
Financing expense               (148)        (151)        (536)        (598)
Foreign exchange gain
 (loss)                         (833)       1,535           14       (3,688)
Other income (loss)             (779)        (458)         498       (1,234)
                        ----------------------------------------------------
EARNINGS BEFORE INCOME
 TAXES                        51,943       37,138      166,925      102,435
 
INCOME TAXES
Current tax expense          (19,265)     (12,234)     (45,612)     (34,194)
Deferred tax recovery
 (expense)                     5,228       (3,610)      (3,357)      (8,160)
                        ----------------------------------------------------
EARNINGS FOR THE PERIOD       37,906       21,294 $    117,956 $     60,081
 
Other comprehensive
 (loss)
- Unrealized (loss) gain
  on securities               (1,065)         953       (2,350)      (1,089)
- Reclassification of
  realized losses on
  available-for-sale
  securities included in       1,971       (2,165)       2,366         (280)
  earnings
- Impairment of
  available-for-sale
  securities                        -        1,621            -        1,621
                        ----------------------------------------------------
COMPREHENSIVE INCOME          38,812       21,703 $    117,972 $     60,333
                        ----------------------------------------------------
                        ----------------------------------------------------
 
EARNINGS PER SHARE
- basic                 $       0.31 $       0.18 $       0.98 $       0.51
- diluted               $       0.31 $       0.18 $       0.98 $       0.51
                        ----------------------------------------------------
Weighted average number
 of common shares
outstanding
- basic                  120,796,000  118,308,000  119,861,000  117,375,000
- diluted                121,746,000  119,563,000  120,904,000  118,669,000
                        ----------------------------------------------------
 
 
ALAMOS GOLD INC.
Consolidated Statements of Comprehensive Income
(Unaudited - stated in thousands of United States dollars, except per share
amounts)
 
                                    For the three-month     For the year
                                       periods ended          ended
                                        December 31,        December 31,
                                    ----------------------------------------
                                         2012      2011      2012      2011
                                    ----------------------------------------
CASH PROVIDED BY (USED IN):
OPERATING ACTIVITIES
Earnings for the period                37,906    21,294 $ 117,956 $  60,081
Adjustments for items not involving
 cash:
Amortization                           18,115     6,880    50,678    23,423
Financing expense                         148       151       536       598
Unrealized foreign exchange (gain)
 loss                                     722    (3,469)   (1,352)     (353)
Deferred tax (recovery) expense        (5,228)    3,610     3,357     8,160
Share-based compensation                  876     3,260     7,634    13,525
(Gain) loss on sale of securities       1,390    (1,751)      460      (783)
Impairment of securities                    0     1,621         -     1,621
Other                                    (406)      205      (735)      954
Changes in non-cash working capital:
Fair value of forward contracts          (150)      467         -      (715)
Amounts receivable                     (4,142)   (5,650)  (18,865)  (18,218)
Inventory                               3,365    (1,157)   (5,655)   (6,572)
Advances and prepaid expenses            (673)    1,393    (1,090)    1,019
Accounts payable, taxes payable and
 accrued                               17,248    10,421    31,672    23,794
 liabilities
----------------------------------------------------------------------------
                                       69,171    37,275   184,596   106,534
----------------------------------------------------------------------------
----------------------------------------------------------------------------
INVESTING ACTIVITIES
Sale (purchases) of securities         (6,470)    4,247      (185)   (2,213)
Contractor advances                         -    16,200
Short-term investments (net)          (17,785)      968     5,434   (11,242)
Proceeds on sale of equipment               -         -         -       889
Decommissioning liability                 (26)       (9)   (1,172)     (145)
Exploration and evaluation assets      (7,307)   (1,771)  (18,561)   (8,687)
Mineral property, plant and
 equipment                             (9,511)  (33,726)  (38,815)  (68,352)
----------------------------------------------------------------------------
                                      (41,099)  (14,091)  (53,299)  (89,750)
----------------------------------------------------------------------------
FINANCING ACTIVITIES
Common shares issued                    3,746     1,216    28,178    22,267
Dividends paid                        (12,073)   (8,280)  (24,023)  (14,114)
----------------------------------------------------------------------------
                                       (8,327)   (7,064)    4,155     8,153
----------------------------------------------------------------------------
Effect of exchange rates on cash and
 cash equivalents                        (731)     (200)    1,133    (1,800)
----------------------------------------------------------------------------
Net increase in cash and cash
 equivalents                           19,014    15,920   136,585    23,137
Cash and cash equivalents -
 beginning of period                  287,042   153,551   169,471   146,334
----------------------------------------------------------------------------
 
CASH AND CASH EQUIVALENTS - END OF
 PERIOD                               306,056   169,471 $ 306,056 $ 169,471
----------------------------------------------------------------------------
 
 
Table 3: Production Summary & Statistics (1)
 
---------------------------------------------------------------------------
Production summary                    Q4 2012   Q4 2011  YTD 2012  YTD 2011
---------------------------------------------------------------------------
Ounces produced (1)                    67,800    46,500   200,000   153,000
 
Crushed ore stacked on leach pad
 (tonnes) (2)                       1,590,000 1,467,000 5,646,000 5,164,000
Grade (g/t Au) (2)                       1.20      1.33      1.19      1.31
                                  ------------------------------------------
Contained ounces stacked               61,300    62,970   216,000   217,030
 
Crushed ore milled (tonnes)            57,800         -   176,500         -
Grade (g/t Au)                          14.12         -     12.49         -
                                  ------------------------------------------
Contained ounces milled                26,200         -    70,900         -
 
Ratio of total ounces produced to
 contained ounces                          78%       74%       70%       71%
 stacked and milled
 
Total ore mined (tonnes)            1,619,000 1,475,000 5,786,000 5,327,000
Waste mined (tonnes)                  822,000   612,000 3,360,000 3,486,000
                                  ------------------------------------------
Total mined (tonnes)                2,441,000 2,087,000 9,146,000 8,813,000
 
Waste-to-ore ratio                       0.51      0.41      0.58      0.65
 
Ore crushed per day (tonnes) -
 combined                              17,900    16,000    16,000    14,100
 
(1) Reported gold production for Q4 2011 and YTD 2011 has been adjusted to
    reflect final refinery settlement. Reported gold production for Q4 2012
    and YTD 2012 is subject to final refinery settlement and may be
    adjusted.
(2) Excludes mill tailings stacked on the heap leach pad during the period.
 

 
 
          Table 4: El Victor North - Select Composite Intervals(1)
Include intervals at greater than 0.30 g/t Au over a 3 metres minimum width,
                                no assay cut
 
----------------------------------------------------------------------------
                              TOTAL
DRILL            DRILLING     DEPTH          FROM       TO     INT.     GOLD
HOLE               METHOD       (m)           (m)      (m)      (m)    (g/t)
----------------------------------------------------------------------------
12EV242                RC    213.41         28.96    33.54     4.58    0.413
                                            77.74   153.96    76.22    2.040
                                       Inc. 86.89    89.94     3.05    7.771
                                      Inc. 131.10   132.62     1.52     6.92
                                           167.68   173.78     6.10    0.907
----------------------------------------------------------------------------
12EV248                RC    217.65         42.30    51.30     9.00    0.436
                                            54.30    56.95     2.65    0.969
                                            84.55    89.10     4.55    0.799
                                            99.60   117.35    17.75    0.724
                                           121.85   145.20    23.35    0.905
                                           148.20   199.00    50.80    1.735
                                      Inc. 171.40   174.40     3.00    7.945
                                      Inc. 175.40   176.90     1.50    10.80
----------------------------------------------------------------------------
12EV259              CORE    121.20          0.00    10.55    10.55    0.489
                                            18.05    30.05    12.00    0.465
                                            33.05    37.55     4.50    0.605
                                            46.60    50.60     4.00    0.460
                                            68.05    76.80     8.75    0.445
                                            79.70    88.70     9.00    0.460
                                            98.25   102.75     4.50    0.411
----------------------------------------------------------------------------
12EV282                RC    152.44         79.27    83.84     4.57    0.621
----------------------------------------------------------------------------
12EV288                RC    167.68         92.99   102.13     9.14    0.520
                                           105.18   108.23     3.05    0.659
                                           112.80   121.95     9.15    0.679
                                           126.52   146.34    19.82    1.065
----------------------------------------------------------------------------
12EV289                RC    221.04         57.93    85.37    27.44    1.304
                                            92.99   117.38    24.39    1.187
                                           172.26   185.98    13.72    1.207
                                           189.02   219.51    30.49    1.725
                                      Inc. 216.46   217.99     1.53    5.460
----------------------------------------------------------------------------
12EV290                RC    152.44        114.33   120.43     6.10    0.751
----------------------------------------------------------------------------
12EV291                RC    137.20        102.13   105.18     3.05    0.421
----------------------------------------------------------------------------
12EV292                RC    291.16        256.10   260.67     4.57    0.473
----------------------------------------------------------------------------
12EV293                RC    138.72  No Intervals
----------------------------------------------------------------------------
12EV294                RC    251.52        166.16   170.73     4.57    0.695
                                           173.78   195.12    21.34    0.466
                                           202.74   234.76    32.02    0.966
----------------------------------------------------------------------------
 
(1) Due to the exploratory nature of this program and the variable
orientations of the mineralized zones, the intersections presented herein
may not necessarily represent the true width of mineralization
(2) RC = Reverse Circulation Hole
(3) Number in bold represent intervals greater than 35 metres x grams/tonne
(35gmt)
 
 
           Table 5: East Estrella - Select Composite Intervals(1)
Include intervals at greater than 0.30 g/t Au over a 3 metres minimum width,
                                no assay cut
 
----------------------------------------------------------------------------
                              TOTAL
DRILL            DRILLING     DEPTH          FROM       TO     INT.     GOLD
HOLE               METHOD       (m)           (m)      (m)      (m)    (g/t)
----------------------------------------------------------------------------
12SX064              CORE     200.7         79.50   105.05    25.55    1.798
                                           132.80   135.20     2.40    1.844
                                           142.70   157.70    15.00    0.719
----------------------------------------------------------------------------
12SX069              CORE     60.70         27.65    37.75     10.1    2.657
                                       Inc. 32.70    34.75     2.05     4.97
----------------------------------------------------------------------------
12SX070              CORE    107.55         10.15    15.85     5.70    2.414
                                       Inc. 12.85    14.35     1.50     6.56
                                            70.95    76.90     5.95    0.543
                                            83.15    87.65     4.50    1.416
                                            98.25   105.75     7.50    0.672
----------------------------------------------------------------------------
12SX077              CORE     62.10         14.20    22.40     8.20    1.173
                                            29.90    40.70    10.80    2.093
                                       Inc. 33.65    35.15     1.50     8.43
----------------------------------------------------------------------------
12SX078                RC    121.95         42.68    56.40    13.72    0.646
----------------------------------------------------------------------------
12SX081              CORE    176.30          3.95    13.00     9.05    0.534
                                            23.80    33.90     10.1    0.401
                                            73.45   125.10    51.65    4.396
                                       Inc. 73.45    78.90     5.45    9.983
                                       Inc. 84.90    91.05     6.15    5.489
                                       Inc. 92.20    94.70     2.05     6.01
                                       Inc. 96.20   102.70     6.50    7.371
                                      Inc. 113.15   114.65     1.50     7.35
                                           129.60   134.11     4.50    0.494
                                           138.60   140.95     2.35     1.27
                                           148.65   151.70     3.05    0.517
----------------------------------------------------------------------------
12SX089              CORE    205.00         10.25    12.85      2.6    0.379
                                            17.45    29.80    12.35    0.509
                                            76.35    79.35     3.00    0.410
                                            84.10    88.70     4.60    0.376
                                            96.20    99.20     3.00    0.646
                                           103.70   106.85     3.15    0.955
                                           140.50   165.10    24.60    2.600
                                      Inc. 151.05   152.55     1.50    5.750
                                      Inc. 157.20   158.70     1.50     7.93
----------------------------------------------------------------------------
12SX091                RC    108.23  No Intervals
----------------------------------------------------------------------------
12SX092                RC    108.23  No Intervals
----------------------------------------------------------------------------
12SX093                RC    108.23  No Intervals
----------------------------------------------------------------------------
12SX094                RC     91.46  No Intervals
----------------------------------------------------------------------------
12SX095                RC    108.23  No Intervals
----------------------------------------------------------------------------
12SX096                RC    182.93  No Intervals
----------------------------------------------------------------------------
12SX097                RC    182.93  No Intervals
----------------------------------------------------------------------------
12SX098                RC    190.55  No Intervals
----------------------------------------------------------------------------
12SX099                RC    182.93  No Intervals
----------------------------------------------------------------------------
12SX100                RC    169.21  No Intervals
----------------------------------------------------------------------------
12SX101                RC    182.93  No Intervals
----------------------------------------------------------------------------
12SX102                RC    182.93         16.77    19.82     3.05    1.394
                                           152.44   155.49     3.05    0.413
                                           167.68   172.26     4.58    0.390
                                           178.35   181.40     3.05    0.692
-------------------------------------------------
---------------------------
12SX103                RC    121.95         35.06    45.73    10.67    0.849
----------------------------------------------------------------------------
12SX104                RC    114.33        103.66   106.71     3.05    0.429
----------------------------------------------------------------------------
12SX105                RC    108.23          0.00     3.05     3.05    0.584
----------------------------------------------------------------------------
12SX106                RC    114.33         92.99    96.04     3.05    0.719
----------------------------------------------------------------------------
12SX107                RC    105.18  No Intervals
----------------------------------------------------------------------------
12SX108                RC     91.46  No Intervals
----------------------------------------------------------------------------
12SX109                RC     91.46  No Intervals
----------------------------------------------------------------------------
12SX110                RC     91.46  No Intervals
----------------------------------------------------------------------------
12SX111                RC     76.22  No Intervals
----------------------------------------------------------------------------
12SX112                RC    121.95         70.12    73.17     3.05    0.525
----------------------------------------------------------------------------
12SX113                RC    152.44         30.49    35.06     4.57    0.652
                                            68.60    74.70     6.10    0.519
                                            96.04   109.76    13.72    0.496
----------------------------------------------------------------------------
12SX114                RC    152.44         54.88    62.50     7.62    0.371
                                            68.60    76.22     7.62    0.718
                                           114.33   123.48     9.15    0.344
                                           132.62   135.67     3.05    1.017
----------------------------------------------------------------------------
12SX115                RC    152.44         48.78    54.88     6.10    2.167
                                            92.99    96.04     3.05    0.369
                                           102.13   112.80    10.67    0.889
----------------------------------------------------------------------------
12SX116                RC     92.99  No Intervals
----------------------------------------------------------------------------
13SX117                RC    152.44         71.65    76.22     4.57    0.496
----------------------------------------------------------------------------
13SX118                RC    141.77         16.77    19.82     3.05    0.624
                                            24.39    28.96     4.57    0.547
                                            36.59    56.40    19.81    0.936
                                            64.02    74.70    10.68    0.543
                                            85.37   105.18    19.81    0.747
                                           125.00   128.05     3.05    0.518
----------------------------------------------------------------------------
13SX119                RC    152.44         12.20    16.77     4.57    0.346
                                            68.60    76.22     7.62    0.380
                                            77.74    83.84     6.10    0.364
----------------------------------------------------------------------------
13SX120                RC    172.26         22.87    27.44     1.57    0.758
----------------------------------------------------------------------------
13SX121                RC    152.44        126.52   129.57     3.05    1.409
----------------------------------------------------------------------------
13SX122                RC    152.44         38.11    41.16     3.05    0.746
                                            44.21    47.26     3.05    0.500
                                           144.82   147.87     3.05    0.414
----------------------------------------------------------------------------
13SX123                RC    182.93         82.32    92.99    10.67    2.383
                                       Inc. 83.84    85.37     1.53    10.85
                                            97.56   100.61     3.05    2.789
----------------------------------------------------------------------------
13SX124                RC    169.21        144.82   147.87     3.05    0.316
----------------------------------------------------------------------------
13SX125                RC    121.95  No Intervals
----------------------------------------------------------------------------
13SX126                RC    182.93        112.80   147.87    35.07    0.579
----------------------------------------------------------------------------
13SX127                RC    137.20         79.27    82.32     3.05    0.357
----------------------------------------------------------------------------
13SX128                RC    182.93          4.57    13.72     9.15    0.669
                                            16.77    19.82     3.05    2.664
                                            48.78    53.35     4.57    0.742
                                            71.65    86.89    15.24    1.116
                                            91.46   102.13    10.67    0.912
----------------------------------------------------------------------------
 
(1) Due to the exploratory nature of this program and the variable
orientations of the mineralized zones, the intersections presented herein
may not necessarily represent the true width of mineralization
(2) RC = Reverse Circulation Hole
(3) Number in bold represent intervals greater than 35 metres x grams/tonne
(35gmt)
 
 
        Table 6: East Estrella - Select Silver Composite Intervals(1)
 Include intervals at greater than 30 g/t Ag over a 3 metres minimum width,
                                no assay cut
 
----------------------------------------------------------------------------
                            TOTAL
DRILL          DRILLING     DEPTH          FROM       TO     INT.     SILVER
HOLE             METHOD       (m)           (m)      (m)      (m)      (g/t)
----------------------------------------------------------------------------
12SX064            CORE    200.70         39.65    97.55      3.9     32.218
----------------------------------------------------------------------------
12SX069            CORE     60.70         17.15    20.15     3.00      44.30
                                          26.15    39.25    13.10    386.239
----------------------------------------------------------------------------
12SX070            CORE    107.55         10.15    15.85     5.70   1078.368
                                          70.95    73.90     2.95    384.893
----------------------------------------------------------------------------
12SX077            CORE     62.10         12.70    23.90    11.20     82.906
                                          32.90    42.20     9.30    403.194
----------------------------------------------------------------------------
12SX081            CORE    176.30         73.45    78.90     5.45     62.394
                                          84.90   102.70    17.80    121.075
                                         111.65   117.60     5.95     42.011
----------------------------------------------------------------------------
12SX089            CORE    205.00        105.35   109.85     4.50     42.167
                                         149.55   160.20    10.65     83.245
----------------------------------------------------------------------------
12SX091              RC    108.23         13.72    18.29     4.57      92.10
----------------------------------------------------------------------------
12SX093              RC    108.23          9.15    12.20     3.05      59.90
----------------------------------------------------------------------------
12SX104              RC    108.23         30.49    36.59     6.10      72.63
----------------------------------------------------------------------------
12SX114              RC    152.44        132.62   135.67     3.05      33.64
----------------------------------------------------------------------------
 
(1) Due to the exploratory nature of this program and the variable
orientations of the mineralized zones, the intersections presented herein
may not necessarily represent the true width of mineralization
(2) RC = Reverse Circulation Hole
(3) Number in bold represent intervals greater than 2,140 metres x
grams/tonne (2,140gmt)
 

 
 
             Table 7: San Carlos - Select Composite Intervals(1)
Include intervals at greater than 0.30 g/t Au over a 3 metres minimum width,
                                no assay cut
 
----------------------------------------------------------------------------
DRILL                               TOTAL
HOLE                      DRILLING  DEPTH         FROM      TO   INT.   GOLD
(Azimuth/Inclination)       METHOD    (m)          (m)     (m)    (m)  (g/t)
----------------------------------------------------------------------------
12EV242                         RC 213.41        28.96   33.54   4.58  0.413
                                                 77.74  153.96  76.22  2.040
                                            Inc. 86.89   89.94   3.05  7.771
                                           Inc. 131.10  132.62   1.52   6.92
                                                167.68  173.78   6.10  0.907
----------------------------------------------------------------------------
12EV248                         RC 217.65        42.30   51.30   9.00  0.436
                                                 54.30   56.95   2.65  0.969
                                                 84.55   89.10   4.55  0.799
                                                 99.60  117.35  17.75  0.724
                                                121.85  145.20  23.35  0.905
                                                148.20  199.00  50.80  1.735
                                           Inc. 171.40  174.40   3.00  7.945
                                           Inc. 175.40  176.90   1.50  10.80
----------------------------------------------------------------------------
12EV259                       CORE 121.20         0.00   10.55  10.55  0.489
                                                 18.05   30.05  12.00  0.465
                                                 33.05   37.55   4.50  0.605
                                                 46.60   50.60   4.00  0.460
                                                 68.05   76.80   8.75  0.445
                                                 79.70   88.70   9.00  0.460
                                                 98.25  102.75   4.50  0.411
----------------------------------------------------------------------------
12EV282                         RC 152.44        79.27   83.84   4.57  0.621
----------------------------------------------------------------------------
12EV288                         RC 167.68        92.99  102.13   9.14  0.520
                                                105.18  108.23   3.05  0.659
                                                112.80  121.95   9.15  0.679
                                                126.52  146.34  19.82  1.065
----------------------------------------------------------------------------
12EV289                         RC 221.04        57.93   85.37  27.44  1.304
                                                 92.99  117.38  24.39  1.187
                                                172.26  185.98  13.72  1.207
                                                189.02  219.51  30.49  1.725
                                           Inc. 216.46  217.99   1.53  5.460
----------------------------------------------------------------------------
12EV290                         RC 152.44       114.33  120.43   6.10  0.751
----------------------------------------------------------------------------
12EV291                         RC 137.20       102.13  105.18   3.05  0.421
----------------------------------------------------------------------------
12EV292                         RC 291.16       256.10  260.67   4.57  0.473
----------------------------------------------------------------------------
12EV293                         RC 138.72           No
                                             Intervals
----------------------------------------------------------------------------
12EV294                         RC 251.52       166.16  170.73   4.57  0.695
                                                173.78  195.12  21.34  0.466
                                                202.74  234.76  32.02  0.966
----------------------------------------------------------------------------
 
(1)  Due to the exploratory nature of this program and the variable
     orientations of the mineralized zones, the intersections presented
     herein may not necessarily represent the true width of mineralization
(2)  RC = Reverse Circulation Hole
(3)  Number in bold represent intervals greater than 35 metres x grams/tonne
     (35gmt)
 
 
              Table 8: Camyurt - Select Composite Intervals(1)
   Include intervals at greater than 0.2 g/t Au over a 1.5 metres minimum
                             width, no assay cut
 
----------------------------------------------------------------------------
                              FROM            TO          INT.          GOLD
DRILL HOLE                     (m)           (m)           (m)         (g/t)
----------------------------------------------------------------------------
12-CYD-64                     40.2          44.7           4.5         0.328
                              47.7         102.8          55.1         1.718
----------------------------------------------------------------------------
12-CYD-66                        1           1.5           1.5           1.4
                                17            20             3          0.32
                              22.9          25.9             3         0.373
----------------------------------------------------------------------------
12-CYD-67                     35.7          43.2           7.5         0.678
                              81.4         108.1          26.7         0.843
----------------------------------------------------------------------------
12-CYD-68                      115           132            17         2.708
----------------------------------------------------------------------------
12-CYD-70                        0         126.2         126.2         1.243
----------------------------------------------------------------------------
12-CYD-71                       19         115.7          96.7         1.035
----------------------------------------------------------------------------
12-CYD-69                        0           3.3           3.3         0.595
                              14.8          18.6           3.8         0.252
                              26.6            31           4.4         0.603
                              42.1            47           4.9         0.596
                                54            80            26         0.866
----------------------------------------------------------------------------
12-CYD-72                     55.5          74.4          18.9          0.95
                              80.4           104          23.6           2.9
----------------------------------------------------------------------------
12-CYD-74                        0          28.3          28.3         1.173
                              34.8          39.7           4.9         1.232
----------------------------------------------------------------------------
12-CYD-75                        0          41.4          41.4         0.608
                              54.2          61.6           7.4         0.381
----------------------------------------------------------------------------
12-CYD-77                     68.6            70           1.4         0.225
                                73          88.2          15.2         0.697
                             117.9           125           7.1         0.351
                             126.2         127.7           1.5           0.2
                             129.2         130.7           1.5         0.334
                             133.7         135.2           1.5         0.281
                             136.7         137.7             1         0.646
                             138.7           151          12.3         0.781
                             184.7         186.2           1.5         0.305
                             188.9         192.5           3.6         0.546
                             213.5           251          37.5         0.637
                               254         269.4          15.4         0.584
----------------------------------------------------------------------------
12-CYD-78                        0           1.5           1.5         0.301
                               2.9           4.3           1.4         6.877
                              23.5            25           1.5         0.253
                             130.9         136.5           5.6         0.417
                             144.9         146.4           1.5         0.218
                             156.2         164.3           8.1         0.571
                             175.6         178.2           2.6         0.316
                             194.5           215          20.5         0.448
                             225.3         230.7           5.4         0.526
----------------------------------------------------------------------------
12-CYD-79                    105.2         108.7           3.5         2.082
                             135.6         162.2          26.6         0.845
----------------------------------------------------------------------------
12-CYD-81                        0          14.5          14.5         1.153
                                68          69.6           1.6         0.233
                                74          75.5           1.5         0.221
                                77          93.8          16.8         0.983
----------------------------------------------------------------------------
12-CYD-82                    129.4         143.7          14.3         2.878
----------------------------------------------------------------------------
 
(1)  Due to the exploratory nature of this program and the variable
     orientations of the mineralized zones, the intersections presented
     herein may not necessarily represent the true width of mineralization
(2)  Number in bold represent intervals greater than 35 metres x grams/tonne
     (35gmt)
 

 
 
      Table 9: Agi Dagi - Select Composite Intervals - Core Drilling(1)
   Include intervals at greater than 0.2 g/t Au over a 1.5 metres minimum
                             width, no assay cut
 
----------------------------------------------------------------------------
                              FROM            TO          INT.          GOLD
DRILL HOLE                     (m)           (m)           (m)         (g/t)
----------------------------------------------------------------------------
11-AD-542                    110.5         119.5             9          0.48
                               130         136.1           6.1          0.54
                             170.4         174.9           4.5          0.74
                             188.4         195.9           7.5          0.59
                             227.4         236.6           9.2          0.73
----------------------------------------------------------------------------
11-AD-546                     17.5          29.4          11.9          0.49
                             120.6         170.9          50.3          2.18
                         including
                             161.4         168.5           7.1          7.23
----------------------------------------------------------------------------
12-AD-561                     89.5          97.3           7.8          0.37
                               119           122             3          0.27
                             361.9         363.4           1.5          4.89
----------------------------------------------------------------------------
12-AD-562                     71.5          74.5           4.5          0.33
                               243           246             3          0.21
                               291         298.7           7.7          0.31
----------------------------------------------------------------------------
12-AD-564                    223.5         232.5             9          0.23
                             256.4           269          12.6          0.27
                             273.1         284.4          11.3          1.04
----------------------------------------------------------------------------
12-AD-567                        2            11             9          0.28
                             184.1         194.5          10.4          0.32
                             198.7         211.1          12.4          0.48
                             311.3         316.6           5.3          0.21
----------------------------------------------------------------------------
12-AD-566                    256.7         262.7             6          0.54
                             292.4         297.4             5          0.22
                             312.4         327.9          15.5          0.49
----------------------------------------------------------------------------
12-AD-569                    224.7         227.7             3          0.54
                             255.7         258.7             3          0.59
                             274.9         285.4          10.5          0.24
                             409.8         414.3           4.5          0.35
----------------------------------------------------------------------------
12-AD-571                    254.1         261.4           7.3          0.39
                             316.7         322.4           5.7          0.93
                             449.3         455.2           5.9          0.26
----------------------------------------------------------------------------
                              13.5            15           1.5           0.2
                              19.5            51          31.5          0.37
                                54          55.5           1.5          0.22
                              61.5            63           1.5          0.25
                                66            87            21          0.33
                              91.5            93           1.5          0.42
                               108         109.5           1.5          0.21
                             112.5         115.5             3          0.35
                               171         178.5           7.5          0.28
----------------------------------------------------------------------------
                             199.9         231.1          31.2          0.54
                             239.1         247.2           8.1          0.32
                             302.1         313.5          11.4          0.22
----------------------------------------------------------------------------
                              94.5           102           7.5         0.296
                             121.5         124.5             3         0.408
----------------------------------------------------------------------------
                              71.2          83.1          11.9         0.619
                              89.2         101.8          12.6          0.47
                             110.8         121.8            11         1.088
                             132.3         136.1           3.8         0.547
                             303.6         310.3           6.7          0.51
----------------------------------------------------------------------------
                              30.5          34.5             4         0.536
                              70.1          73.1             3         0.329
                              83.6          88.1           4.5         0.577
                             143.9         146.6           2.7         3.162
----------------------------------------------------------------------------
                             101.1         138.8          37.7         0.451
                             150.8         170.8            20         0.334
                             227.5           232           4.5          0.28
                             238.3         245.4           7.1         0.378
----------------------------------------------------------------------------
                               5.5          18.7          13.2         0.323
                             154.8         169.3          14.5         0.333
                               212         216.1           4.1         0.522
                             245.8         248.8             3         0.352
----------------------------------------------------------------------------
                               1.5             3           1.5         0.463
                                24            27             3         0.244
                              31.5            33           1.5         0.328
                              93.2          94.7           1.5         0.296
                             117.5         119.1           1.6         0.304
                             120.6         122.1           1.5         0.399
                             179.4         182.5           3.1         0.388
                             234.7         236.2           1.5          0.27
                             245.3         248.2           2.9         0.252
                             257.4         261.6           4.2          0.23
                             267.6         278.1          10.5         0.325
                             284.2         287.3           3.1         0.242
----------------------------------------------------------------------------
12-AD-584                      1.4          34.5          33.1         0.288
                              40.5            47           6.5         0.267
                              50.7          52.2           1.5         0.314
                              74.7          76.2           1.5         0.232
                              80.7          82.2           1.5         0.358
----------------------------------------------------------------------------
12-AD-585                        4          12.8           8.8          0.34
                              86.5            91           4.5         0.268
                             205.7         259.5          53.8          0.33
                             282.2         330.4          48.2         0.514
----------------------------------------------------------------------------
12-A-586                         0            15            15          0.54
----------------------------------------------------------------------------
12-A-588A                     55.5            60           4.5         0.433
                                72          79.5           7.5         0.256
                             103.5         106.5             3         0.364
                             127.5           132           4.5         1.549
----------------------------------------------------------------------------
12-A-590                      34.5            36           1.5         0.641
                              52.5          61.5             9         0.426
                              85.5          91.5             6         0.322
----------------------------------------------------------------------------
12-AD-590                    103.1         104.8           1.7         0.248
                             108.1         111.1             3         0.796
                             114.1         127.6          13.5         0.444
                             151.5           153           1.5         0.397
----------------------------------------------------------------------------
12-A-592                      16.5            18           1.5         0.297
                                21          22.5           4.5          0.21
                                57          64.5           7.5         0.293
                              67.5            69           1.5         0.248
                              76.5            78           1.5         0.422
                              82.5          91.5             9         0.664
----------------------------------------------------------------------------
12-A-593                        60          91.5          31.5         0.328
                              97.5            99           1.5         0.208
----------------------------------------------------------------------------
12-A-594                         9          26.5          17.5          0.73
----------------------------------------------------------------------------
12-AD-588A                   125.6         131.2           5.6         2.361
----------------------------------------------------------------------------
12-AD-597                        0           2.3           2.3          0.27
----------------------------------------------------------------------------
12-AD-596                      178           196            18         0.311
----------------------------------------------------------------------------
12-AD-598                        6             9             3         0.306
                             153.6         158.4           4.8         0.292
                             231.9         234.9             3         0.314
                             237.9         250.7          12.8         0.735
                               260         271.6          11.6         0.356
----------------------------------------------------------------------------
12-AD-601                     89.2          94.2             5         0.971
----------------------------------------------------------------------------
12-AD-603                     20.1          25.6           5.5         0.319
                              36.3            39           2.7         1.309
                                46          49.7           3.7         0.336
                              64.5          67.5             3         0.306
                             100.2         123.7          23.5         0.768
                             236.5         239.5             3         0.296
----------------------------------------------------------------------------
12-AD-604                    208.2           214           5.8         0.232
                               217         224.5           7.5         0.264
----------------------------------------------------------------------------
12-AD-577                      3.5           6.8           3.3         0.249
                                80          81.5           1.5         0.539
                             117.4         127.9          10.5         0.315
                             130.9         135.4           4.5         0.259
                             144.4         148.9           4.5         0.439
                             189.6         191.1           1.5         0.388
                             204.8         210.8             6         0.372
                             218.3         221.3             3         0.235
----------------------------------------------------------------------------
12-AD-582                       31            37             6         0.235
                             125.5         138.5            13         0.419
                             162.5         212.5            50          0.37
                               226         230.5           4.5         0.247
                             233.5         271.8          38.3         0.403
                             300.4         302.9           2.5         0.266
----------------------------------------------------------------------------
12-AD-609                     40.5          43.5             3         0.309
                               117           126             9         0.743
                             151.5           194          42.5         1.372
----------------------------------------------------------------------------
12-AD-594                     11.3          13.5           2.2         0.571
                                17            20             3         0.397
                                23          39.5          16.5         0.445
                                47          48.5           1.5         0.363
                                53            59             6         0.911
                              63.5            66           2.5         0.399
----------------------------------------------------------------------------
12-AD-610                       21            27             6          0.31
                                33          38.4           5.4         0.237
                              60.9          72.9            12         0.468
                              77.4          78.9           1.5         0.214
                              81.9          83.4           1.5         0.365
                              96.9         101.4           4.5         0.269
                             107.4         110.4             3          0.29
                             113.4         126.9          13.5          0.29
                             131.4         147.9          16.5         0.389
                             152.4         153.5           1.1         0.276
----------------------------------------------------------------------------
12-AD-612                     24.9          30.9             6         0.589
                              53.4          60.9           7.5         0.386
                                71          75.5           4.5          0.37
                             117.9         120.9             3         0.334
                             132.9         146.4          13.5         0.318
                             159.8         162.8             3         0.305
                             164.3         165.8           1.5         0.339
----------------------------------------------------------------------------
12-AD-613                     16.2          28.2            12         0.294
                              32.7          35.7             3         0.232
                              49.2          52.2             3         0.268
----------------------------------------------------------------------------
 
(1) Due to the exploratory nature of this program and the variable
orientations of the mineralized zones, the intersections presented herein
may not necessarily represent the true width of mineralization
(2) Number in bold represent intervals greater than 35 metres x grams/tonne
(35gmt)
 
      Table 10: Kirazli - Select Composite Intervals - Core Drilling(1)
   Include intervals at greater than 0.2 g/t Au over a 1.5 metres minimum
                             width, no assay cut
 
----------------------------------------------------------------------------
                              FROM            TO          INT.          GOLD
DRILL HOLE                     (m)           (m)           (m)         (g/t)
----------------------------------------------------------------------------
12-KD-194                      4.5          29.8          25.3         0.527
                              43.3          44.8           1.5         0.278
                              49.2          50.7           1.5         0.241
                              52.2          72.3          20.1         0.465
                              75.2          76.8           1.5         0.548
                              79.8          99.4          19.6         0.261
                             106.9         202.1          95.2         0.422
                             206.1         209.1             3         0.279
----------------------------------------------------------------------------
12-KD-195                      183           186             3         0.279
                             205.5         208.7           3.2         0.225
----------------------------------------------------------------------------
12-KD-198                      4.2          25.1          20.9          0.72
                              34.1          37.2           3.1          0.26
                             111.1         114.6           3.5         0.815
----------------------------------------------------------------------------
12-KD-196                     39.8            43           3.2         0.975
                              45.8          46.8             1          0.24
                             103.7         109.7             6          0.37
                             119.3         123.8           4.5         0.397
----------------------------------------------------------------------------
12-KD-200                    134.5         144.8          10.3         5.948
----------------------------------------------------------------------------
12-KD-201                      8.8          12.3           3.5         0.213
                              24.8          25.8             1         0.397
                              46.7          49.7             3         0.233
                              95.4          96.9           1.5           0.2
                              99.9         101.4           1.5         0.378
                             104.4         114.9          10.5         0.567
                             137.6         144.6             7         0.273
----------------------------------------------------------------------------
12-KD-199                        0          13.9          13.9         1.819
----------------------------------------------------------------------------
12-KD-202                       69          87.6          18.6         0.348
                              94.9         237.5         142.6         0.219
----------------------------------------------------------------------------
12-KD-203                        0           3.6           3.6         1.428
----------------------------------------------------------------------------
12-KD-204                        5          10.2           5.2         0.226
----------------------------------------------------------------------------
12-KD-205                        0          32.6          32.6          1.62
                             137.7         142.2           4.5         0.259
                             154.2         155.7           1.5         0.274
                               169         171.6           2.6         1.819
----------------------------------------------------------------------------
12-KD-208                        3          25.6          22.6         2.211
                                61           100            39         1.023
                             113.5         119.5             6         0.313
----------------------------------------------------------------------------
 
(1) Due to the exploratory nature of this program and the variable
orientations of the mineralized zones, the intersections presented herein
may not necessarily represent the true width of mineralization
(2) Number in bold represent intervals greater than 35 metres x grams/tonne
(35gmt)

 
To view Figure 1: El Victor North highlighted drill results, please
visit the following link:
http://media3.marketwire.com/docs/AGIQ4FIG1.pdf. 
To view Figure 2: East Estrella highlighted drill results, please
visit the following link:
http://media3.marketwire.com/docs/AGIQ4FIG2.pdf. 
To view Figure 3: San Carlos highlighted drill results, please visit
the following link: http://media3.marketwire.com/docs/AGIQ4FIG3.pdf. 
To view Figure 4: Camyurt highlighted drill results, please visit the
following link: http://media3.marketwire.com/docs/AGIQ4FIG4.pdf. 
The TSX and NYSE have not reviewed and does not accept responsibility
for the adequacy or accuracy of this release. 
Contacts:
Alamos Gold Inc.
Jo Mira Clodman
Vice President, Investor Relations
(416) 368-9932 x 401
www.alamosgold.com
 
 
Press spacebar to pause and continue. Press esc to stop.