Mr. Darren Blasutti reports

MINERA ALAMOS ANNOUNCES SHARE CONSOLIDATION

Minera Alamos Inc. will consolidate its common shares at a ratio of one postconsolidation share for 10 preconsolidation shares. The company currently has 1,080,440,735 common shares issued and outstanding. Upon completion of the consolidation, the company will have approximately 108,044,073 common shares issued and outstanding. Some slight variance is expected due to fractional rounding. Fractional shares will be rounded down to the nearest whole number with no additional consideration. Shareholders approved the consolidation at its shareholder meeting held on July 16, 2025. All outstanding warrants and incentive stock options will be adjusted to increase their exercise price by a factor of 10 and to reduce the number of common shares issued upon exercise by dividing by 10.

The consolidation is subject to final acceptance of the TSX Venture Exchange and the company expects to complete the consolidation at the close of business on Jan. 2, 2026, such that effective at the open of markets on Jan. 5, 2026, the common shares of the company will commence trading on a postconsolidation basis.

Holders of common shares of the company who hold uncertificated shares (that is shares held in book entry form and not represented by a physical share certificate), either as registered holders or beneficial owners, will have their existing book entry account(s) electronically adjusted by the company's transfer agent, or, in the case of beneficial shareholders, by their brokerage firms, banks, trusts or other nominees that hold in street name for their benefit. Such holders generally do not need to take any additional actions to exchange their preconsolidation shares for postconsolidation shares. If you hold your shares with such a bank, broker or other nominee, and if you have questions in this regard, you are encouraged to contact your nominee.

Registered shareholders holding share certificates will be mailed a letter of transmittal advising of the consolidation and instructing them to surrender the share certificates representing preconsolidation shares for replacement certificates or a direct registration advice representing their postconsolidation shares. Until surrendered for exchange, each share certificate formerly representing preconsolidation shares will be deemed to represent the number of whole postconsolidation shares to which the holder is entitled as a result of the consolidation.

Included in the number of outstanding shares set out above are 4,651,163 common shares that issued upon receipt of approval of the TSX Venture Exchange, to settle a contractual obligation as announced in the company's news release dated Dec. 9, 2025.

About Minera Alamos Inc.

Minera Alamos is a North American gold production and development company. The company owns the Pan operating complex, comprising the Pan heap leach gold mine and the adjacent fully permitted Gold Rock project, as well as the nearby past-producing Illipah project. The company also owns the Copperstone mine and associated infrastructure in La Paz country, Arizona, an advanced development asset with a permitted mine plan of operations (MPO) that can be developed in parallel with planned project advancements in Mexico. The company maintains a portfolio of high-quality Mexican assets, including the 100-per-cent-owned Santana open-pit, heap-leach mine in Sonora. The 100-per-cent-owned Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical work completed and the company's proposed mining project is currently being guided through the permitting process by the company and its 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 become a leading, Americas-focused intermediate gold producer by growing production at its Pan operating complex and developing its pipeline of high-quality, low-capital projects while expanding gold resources across its portfolio.

We seek Safe Harbor.