Mr. Chris Frostad reports

MINERA ALAMOS INC. CLOSES FIRST TRANCHE OF A BROKERED PRIVATE PLACEMENT

Minera Alamos Inc. has closed the first tranche of the brokered private placement announced on April 28, 2015, for gross proceeds of $558,680 with IBK Capital Corp. The company issued 5,586,800 units at a price of 10 cents per unit in this first tranche. Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of 10 cents per share and is exercisable for a period of four years from the closing of the offering.

The company is also very pleased to announce that the total private placement of $2.8-million is now fully subscribed with the final closing scheduled for early June.

"We are overwhelmed at the response we have received in respect to this financing," said Chris Frostad, president and chief executive officer, Minera Alamos. "Our new approach to the development of the Los Verdes project has resulted in a heightened level of confidence in our ability to deliver cash flows in the near term."

As certain directors and officers of the company participated in the private placement, this private placement constitutes a related-party transaction under Multilateral Instrument 61-101 and TSX Venture Exchange Policy 5.9. The company is relying on exemptions from the formal valuation and minority approval requirements of MI 61-101, based on a determination that the securities of the company are listed on the TSX Venture Exchange only and that the fair market value of the private placement, insofar as it involved interested parties, does not exceed 25 per cent of the market capitalization of the company at the time the private placement was initially announced. No new insiders have been created, nor has there been any change of control as a result of the private placement. The company did not file a material change report 21 days prior to the closing of the private placement which the company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the offering in an expeditious manner.

This offering was carried on a private placement basis pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange.

All securities issued in connection with this offering are subject to a four-month-and-one-day hold period expiring on Sept. 27, 2015, pursuant to applicable securities legislation and the rules of the TSX Venture Exchange.

No commissions were paid with respect to the closing of the first tranche.

The proceeds of the private placement will be used by the company for debt reduction, to evaluate an initial production decision on the corporation's Los Verdes copper and molybdenum project in Sonora, Mexico, and for general working capital purposes.