Mr. Doug Ramshaw reports

MINERA ALAMOS ANNOUNCES AURAMET LOAN EXTENSION

Minera Alamos Inc. has received conditional approval from the TSX Venture Exchange relating to the settlement of $400,000 (U.S.) due to Auramet International Inc. and Auramet Capital Partners LP to extend the date by which certain conditions of the original loan agreement dated Oct. 27, 2023, need to be satisfied from Nov. 29, 2024, to May 29, 2025.

"In light of a shift in sentiment in the permitting environment in Mexico in recent months with a number of other companies providing timelines for receipt of their permits or permit amendments in H1 of 2025, the company believes it appropriate at this time to execute the extension to allow financing flexibility as we work toward the completion of its permit process for the planned Cerro de Oro gold mine and welcome Auramet as shareholders of the company," stated Doug Ramshaw, president of Minera.

For full consideration of the $400,000 (U.S.) extension fee payment, the TSX Venture Exchange has conditionally accepted the company's proposal to issue 1,901,648 common shares at a deemed price of 29.49 cents per share.

About Minera Alamos Inc.

Minera Alamos is a gold production and development company. The company has a portfolio of high-quality Mexican assets, including the 100-per-cent-owned Santana open-pit, heap-leach mine in Sonora that is currently going through the start-up of operations at the new Nicho Main deposit. The 100-per-cent-owned Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical work completed, and the proposed mining project is currently being guided through the permitting process by the company's permitting consultants. The La Fortuna open-pit gold project in Durango (100 per cent owned) has a positive, robust preliminary economic assessment (PEA) completed, and the main federal permits are in place. Minera Alamos is built around its operating team that together brought three open-pit, heap-leach gold mines into successful production in Mexico over the past 14 years.

The company's strategy is to develop very-low-capex (capital expenditure) assets while expanding the projects' resources and continuing to pursue complementary strategic acquisitions.

We seek Safe Harbor.