Mr. Chris Frostad reports

MINERA ALAMOS INC. RAISES CEILING FOR ONGOING PRIVATE PLACEMENT

Minera Alamos Inc. intends to raise the ceiling for the private placement previously announced on Feb. 16, 2016, from $3-million to $4-million.

Up to 40 million units are issuable pursuant to the offering at a price of 10 cents per unit. Each unit consists of one common share in the capital of the company and one-half of a common share purchase warrant. Each whole warrant entitles its holder to purchase one common share in the capital of the company at an exercise price of 15 cents per share for a period of three years from the date of issuance. IBK Capital Corp. (the agent) has been engaged by the company to facilitate the offering. Upon closing of the offering, the agent will receive a cash commission equal to 8 per cent of the gross proceeds of the offering. The agent will also receive an option to acquire such number of units of the company as is equal to 8 per cent of the units sold under the offering at an exercise price of 10 cents per unit for a period of three years from the date of issuance.

The private placement is in progress, and the company expects to close the private placement in a number of tranches on or prior to May 18, 2016, with the first tranche of 15.2 million units already closed on April 18, 2016, for aggregate gross proceeds of $1.52-million. As of the date hereof, the company has received subscriptions for $2.02-million (including the subscription amount for the first tranche closing) with $500,000 in escrow as fully described in the company's press release dated April 19, 2016.

In accordance with applicable securities legislation, all securities issued pursuant to the offering will be subject to a hold period of four months and a day from the date of issuance. The proceeds of the offering will be used by the company to finance a portion of the purchase price for its proposed acquisition of the La Fortuna project, the development of its Los Verdes project and the La Fortuna project upon completion of its acquisition, and for working capital purposes.

We seek Safe Harbor.