Mr. Chris Frostad reports

MINERA ALAMOS INC. DRILLING CONFIRMS HIGH-GRADE CHARACTERISTICS AT LOS VERDES NORTH DEPOSIT

Minera Alamos Inc. has completed its first phase of drilling on the North deposit at its 100-per-cent-owned Los Verdes project in Sonora, Mexico. The company intends to produce a National Instrument 43-101-compliant resource estimate for the north area to include in its updated preliminary economic assessment due for completion later this year. Assays for six of the 12 holes drilled during the 1,400-metre program are now available and have exceeded expectations based on available historical data for the project and the region.

"The drill results received to date confirm the existence of a second Los Verdes South quality deposit," said Darren Koningen, president, Minera Alamos. "In fact, the grade, style and makeup of the mineralization may in a number of ways be superior to our existing reserves to the south."

Highlights:

• This program represents the company's first attempt to demonstrate the presence of multiple regional zones of mineralization to complement the existing resource at the South deposit.
• All holes drilled to date contain material intervals of copper, molybdenum and silver mineralization.
• Assays from the first six holes exhibit an overall composite copper equivalent grade of 1.38 per cent, significantly greater than that for the Los Verdes South deposit.
• Mineralization in all holes begins close to surface, making it ideal for open pit mining access.
• In a manner similar to the South deposit, the deposit presents as long intervals of continuous disseminated mineralization.
• Assays from the remaining six holes are expected within the coming weeks.

                          PRELIMINARY DRILL RESULTS
                                                                  Composite
                                Mineralized interval (1 and 2)     CuEq (3)

               From    To  Width    Cu     Mo      Ag CuEq (4)  Width Grade
Drill           (m)   (m)    (m)   (%)    (%)     g/t      (%)    (m)   (%)
hole
PO-13         17.00 62.00  45.00  0.61   0.03    6.08     0.68  30.40  0.93
PO-14         21.00 77.00  56.00  1.22   0.05   14.12     1.40  46.45  1.69
PO-15         17.20 68.50  51.30  0.54   0.04    7.36     0.66  29.00  1.10
PO-16         26.50 46.00  19.50  0.45   0.06    4.87     0.61  16.50  0.74
PO-17         21.00 58.50  37.50  0.93   0.04    8.71     1.07  31.50  1.28
PO-18          5.50 60.00  54.50  1.14   0.05   12.48     1.30  33.15  2.01
Weighted total                                                         1.38

Notes:

1. The grade/width of the mineralized intersection as shown is the complete interval from and to the drill depths as shown.
2. All holes were drilled vertically, and therefore it cannot be certain that the drill widths outlined in the table represent the true widths of mineralization.
3. Grade/width as shown is total of only those mineralized individual drill composite samples that have a Cu equivalent grade equal to or in excess of the cut-off used in the determination of the South deposit resource CuEq (0.45 per cent) -- see the Los Verdes Cu/Mo project preliminary economic assessment, Jan. 10, 2012.
4. Copper equivalent grades are based on metal prices of copper (Cu) at $2.75 (U.S.) per pound, molybdenum at $8.25 (U.S.) per pound and silver at $16 (U.S.) per ounce.

Los Verdes North deposit

The North deposit at Los Verdes is located approximately eight kilometres northeast of the South deposit within the municipality of Yecora, a region with a mining history that dates back to the Mexican Revolution. The local communities of Santa Ana and Santa Rosa have long mined tungsten, molybdenum and copper throughout the area.

The 1,070-hectare Los Verdes North property contains two historic mines (Buenavista and La Providencia), which were in operation from 1960 through to the late 1970s. Although there are no records available as to the amount of production during that time, the remnants of the flotation mill, with its tailings, remain on site. During this operating period, supplemental feed material from the Los Verdes South deposit was transported north to be processed at the same facility.

In 2008, the Servicio Geologico Mexicano completed an exploration program tasked with estimating the resources at the North deposit and evaluating the property's additional potential. That work resulted in historical indicated mineral resources of 1,384,000 tonnes at a copper grade of 0.47 per cent and a molybdenum grade of 0.12 per cent, as well as historical inferred mineral resources of 822,000 tonnes at a grade of 0.22 per cent copper and 0.033 per cent molybdenum.

In addition to the historic mining areas, Minera Alamos's North deposit property contains a number of additional largely unexplored prospects identified by SGM with significant geophysical and geochemical anomalies characteristic of local copper/molybdenum deposits. The company plans to perform further evaluations of these areas following the completion of the North deposit drilling programs.

Note that historical estimates were prepared in 2008 by the SGM. A qualified person has not done sufficient work to classify them as current mineral resources or mineral reserves, and they should not be relied upon.

Darren Koningen, PEng, Minera Alamos's president, is the qualified person responsible for technical content of this release under National Instrument 43-101. Mr. Koningen has supervised the preparation of, and approved the scientific and technical disclosures utilized in, this news release.

All diamond drill samples were collected by Minera Alamos personnel, including the company's exploration geologists. Drill samples were cut in halves and divided into 1.5-metre intervals. One-half of the sample is bagged for analysis. The remaining half is logged by Minera Alamos personnel and stored in the project warehouse for future reference. Blanks, duplicates and standards were randomly inserted, with the samples sent for analysis as part of the normal quality assurance/quality control procedures.

All samples were prepared and analyzed for metals using ICP assay procedures with a four-acid leach preparation. All samples were sent for analysis at ALS Chemex in Hermosillo.