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Minera Alamos Inc
Symbol MAI
Shares Issued 150,481,268
Close 2018-05-16 C$ 0.12
Market Cap C$ 18,057,752
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Minera Alamos completes phase 2 of heap-leach testing

2018-05-17 10:16 ET - News Release

Mr. Darren Koningen reports

MINERA ALAMOS COMPLETES PHASE 2 OF TEST HEAP LEACHING AT SANTANA GOLD PROJECT IN SONORA, MEXICO WITH FURTHER POSITIVE RESULTS

Minera Alamos Inc. has now completed the second phase of its bulk testing heap-leach activities at its 100-per-cent-owned Santana gold project in Sonora, Mexico. The company is now performing a full review of the leaching results as part of its final project evaluation prior to making commercial production decisions for the project.

Over the past year, the company's wholly owned subsidiary Corex Gold has been conducting continuous bulk heap-leach testing activities at the Santana gold project in accordance with its current test mining permit. Following the successful completion of an initial phase that utilized coarse crushing (less than three inches) only, the second phase involved fine crushing (less than 1.2 to five-eighths inch) and agglomeration of the same mineralized material prior to leaching. Ultimate gold recoveries from the second phase were excellent and consistent with those from the first phase of testing. Approximately 5,860 grams (about 190 ounces) of gold were recovered from a total of 9,000 tonnes of material over a three-month leach period -- 0.65 gram per tonne of recovered gold. While the use of fine crushing/agglomeration appears to improve the gold leach kinetics, ultimate recoveries remained similar to those achieved leaching coarse material.

"The results from the bulk heap-leach testing program over the past year have been extremely positive. The operation of the Santana test leaching facilities provides for a significant derisking of the project by comparing laboratory-scale metallurgical results to those achieved at a bulk scale under conditions similar to those envisioned for commercial operations," stated Darren Koningen, chief executive officer of Minera Alamos. "To date, the company has tested approximately 35,000 tonnes of mineralized material with ultimate gold recoveries exceeding expectations and appearing to be consistent over the range of crush sizes tested. This creates an ideal environment for a robust commercial heap leaching operation at the Santana project site. Once a final data review/optimization is completed, incorporating results from the upcoming drill program announced earlier this month, the company expects to target the advancement of Santana as the first commercial mining operation from our portfolio of advanced-stage gold projects."

As done previously, the second carbon shipment from the test facility will be shipped later this week for desorption and precious metals recovery operations at Metals Research Corp. in Kimberly, Idaho. Final dore is delivered for refining to Cascade Refining Inc. of Salt Lake City, Utah.

Note: The company is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability. Minera Alamos acknowledges and advises there is increased uncertainty and that there are specific economic and technical risks of failure associated with any production decision. The company believes the historic experience and record of senior management with gold heap leaching and advancing in careful prudent steps help ameliorate possible technical risks.

About Minera Alamos Inc.

Minera Alamos is an advanced-stage exploration and development company. Its growing portfolio of high-grade Mexican projects includes the La Fortuna open-pit gold project in Durango and the Guadalupe de los Reyes gold/silver project in Sinaloa, as well as the now combined Santana/Los Verdes gold-copper project in Sonora.

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

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