Alamos Gold Announces Completion of Lower Mine Expansion at Young-Davidson Mine
TORONTO, July 08, 2020 (GLOBE NEWSWIRE) — Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today announced that it has completed the lower mine expansion at Young-Davidson with the successful commissioning of the Northgate shaft.
“This marks a significant milestone for Young-Davidson and turning point for Alamos as we transition from a reinvestment phase to a period of strong free cash flow growth. I would like to congratulate the entire team at Young-Davidson for this historic achievement which will unlock the full potential of the operation. With a 13 year mineral reserve life, large resource base, and significant exploration potential, Young-Davidson is well positioned to deliver solid free cash flow over the long term,” said John A. McCluskey, President and Chief Executive Officer. In addition to the Northgate shaft, the underground crusher and conveyor system have also been successfully commissioned. Mining rates are expected to ramp up through the second half of the year to 7,500 tonnes per day by the end of 2020. This is expected to drive strong free cash flow growth at Young-Davidson and company-wide in the second half of 2020 and beyond.About AlamosAlamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos mine in Sonora State, Mexico. Additionally, the Company has a significant portfolio of development stage projects in Canada, Mexico, Turkey, and the United States. Alamos employs more than 1,700 people and is committed to the highest standards of sustainable development. The Company’s shares are traded on the TSX and NYSE under the symbol “AGI”.FOR FURTHER INFORMATION, PLEASE CONTACT: