Mr. Chris Frostad reports

MINERA ALAMOS INC. CLOSES FINAL TRANCHE OF $4 MILLION PRIVATE PLACEMENT

Minera Alamos Inc. has closed the final tranche of its previously announced non-brokered private placement for gross proceeds of $1.98-million. Together with the first two tranches of the private placement closed in May and April, the company has raised, in aggregate, $4-million.

"We are moving forward aggressively on our work at our recently acquired La Fortuna gold project and expect to have permits in hand on both of our Mexican development projects by early next year," said Chris Frostad, chief executive officer of Minera Alamos. "This financing provides adequate funds to move us beyond a construction decision."

In connection with the closing of the final tranche of the private placement, the company has issuedb 19.8 million common share units at a price of 10 cents per unit with each unit consisting 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 36 months from the date of issuance. The closing is subject to final acceptance by the TSX Venture Exchange of the private placement.

Darren Koningen, a director and president of the company, participated in the final tranche of the private placement as an investor and subscribed for 2,779,760 units for $277,976. Mr. Frostad, a director and CEO of the company, also participated in the final tranche of the private placement as an investor and subscribed for one million units for $100,000. By virtue of such participation by the insiders, the private placement constitutes a related party transaction under applicable securities laws. Neither independent valuation nor minority shareholder approval was required to complete the related party transaction because the company relied on exemptions from both requirements under applicable securities laws.

In connection with the final tranche closing of the private placement, the company paid IBK Capital Corp., the agent of the company in connection with the private placement, and its subagents agent's fees consisting of $143,800 (plus applicable taxes and disbursements) in cash and issued 1,438,000 non-transferable agent's compensation warrants. Each compensation warrant entitles its holder to purchase one unit of the company at an exercise price of 10 cents per unit for a period of 36 months after the date of issuance.

All securities issued in connection with the final tranche closing of the private placement are subject to a four-month hold period pursuant to the applicable securities laws with an expiry date of Sept. 14, 2016.

The proceeds of the private placement will be used by the company to finance a portion of the development of its Mexican projects and for working capital purposes.

We seek Safe Harbor.