Mr. Chris Frostad reports

MINERA ALAMOS INC. DISCUSSES EXPANSION POTENTIAL AT LA FORTUNA GOLD PROJECT

Minera Alamos Inc. has completed its review of the most recent exploration data from the La Fortuna gold project in Durango, Mexico, which confirm significant potential for growth beyond the project's current measured and indicated mineral resources of 4,824,000 tonnes at 1.99 grams per tonne gold containing 308,100 gold ounces (see company's press release dated Jan. 18, 2016).

"A very thorough reconnaissance program of surface mapping and sampling was performed over the La Fortuna concession area by the previous owners," said Miguel Cardona, vice-president, exploration, at Minera Alamos. "The compilation of this data and available historical information has allowed us to define geological models for potential ore deposits across the entire project. Recommendations are now being developed for further exploration work."

Three distinct zones of mineralization have already been identified along parallel structures that correspond to the primary regional faulting in this region of Mexico (northwest-southeast). In addition to the Fortuna Main zone (and extensions) where company's current resource is located, these also include the Ramada zone and the PN zone. All three areas contain numerous historical mine workings, and have been sampled and mapped at surface. These expansions span an area many times larger than that of the current resource. Defining the continuity of the mineralization throughout these extended zones will be the focus of the company's upcoming exploration activities.

Highlights:

• In the late 1990s only the first phase of drilling at the La Fortuna Main zone was completed prior to a dramatic decline in gold prices. This drilling focused on an area approximately 350 to 400 metres in length which was centred around the largest of the old mine workings. The resource confirmed by Castle Gold Corp. (now Argonaut Gold Inc.) in 2008 was limited to the area originally drilled off under that first phase of work, and remained open at depth and to the south.
• La Fortuna Main-zone-style mineralization is evident at surface along strike and approximately 400 to 500 m south of the current resource, and can be traced for over 200 m. Phase 2 of the 1990s drill program, which was ultimately cancelled, was intended to focus on evaluating this La Fortuna extension area and its relation back toward the Main zone. If mineralization continuity can be demonstrated these extensions offer the potential to significantly increase the resources currently defined along this structure.
• The Ramada zone lies on a parallel fault structure approximately two kilometres northeast of the La Fortuna deposit. The mineralization that can be traced at surface extends for a length of approximately 600 metres and exhibits grades of up to 15 to 40 g/t gold in places from sampling both at surface and inside of the historic mine workings.
• The PN zone, a large epithermal system hosting gold and silver, lies 1.5 kilometres northeast of Ramada. The deposit is structurally controlled and appears to be part of a large shear zone associated with the intersection of two major fault systems.
• The PN shear zone can be followed for approximately 1.5 km and has the potential to become a bulk-tonnage gold/silver system. The area contains numerous occurrences of old mine workings, and sampling from these areas, as well as surface, has confirmed widespread mineralization with gold grades from approximately one to 10 g/t in addition to 50 to 400 g/t of silver.

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.

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