Mr. Darren Koningen reports

MINERA ALAMOS' PREVIOUSLY ANNOUNCED BOUGHT DEAL PRIVATE PLACEMENT IS FULLY ALLOCATED

Further to Minera Alamos Inc.'s press release of Aug. 7, 2025, as a result of overwhelmingly strong investor demand, it has closed the order book for its previously announced $110-million (Canadian) private placement. The underwriters, led by Stifel Canada as sole bookrunner and including BMO Capital Markets, Desjardins Capital Markets and National Bank Financial Inc., have received indications of interest for the full amount of the offering, including the $25-million (Canadian) underwriters' option. All dollar amounts are in United States dollars unless otherwise specified.

"We were very pleased to see such strong institutional investor demand for this private placement, which underscores the confidence investors have in Minera Alamos and our ability to deliver shareholder value. The funds raised from this offering will enable us to complete the acquisition of the Pan complex mining assets in Nevada and transform the trajectory for the company," commented Darren Koningen, chief executive officer of Minera Alamos.

Incoming Chairman Jason Kosec added: "The acquisition of Pan and Gold Rock will strengthen the company and reflect well for the industry by providing more robust opportunities for investment dollars. I would like to thank the investors for their support, which will allow us to bring our vision of building the next Americas-focused growing gold producer to life and we look forward to closing both the financing and the acquisition."

The company will use the net proceeds from the offering to acquire Calibre USA Holdings Ltd. from Equinox Gold Corp. for total consideration of $115-million, of which $90-million is in cash and $25-million is equity consideration, subject to adjustment. Equinox will not hold more than 9.99 per cent of the issued and outstanding common shares of the company once the transaction is completed. Calibre USA holds a 100-per-cent economic interest in the producing Pan gold mine, Gold Rock project and Illipah project located in Nevada, United States.

Closing of the offering is expected to occur in mid-September. The net proceeds from the offering will be used to pay the cash consideration due to Equinox in the transaction, with any remainder to be used for working capital required to support operations at the Pan complex.

Please see the company's press release dated Aug. 7, 2025, for complete details of the offering and the transaction.

Advisers and counsel

Stifel Canada is acting as financial adviser to Minera Alamos, with Gowling WLG acting as legal advisers to the company in relation to the transaction and the offering, respectively.

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 PEA (preliminary economic assessment) 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 last 14 years.

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

We seek Safe Harbor.