Mr. Darren Blasutti reports

MINERA ALAMOS MOVES TO STRENGTHEN BALANCE SHEET WITH EXECUTED TERM SHEET FOR US$75 MILLION REVOLVING CREDIT FACILITY FROM SCOTIABANK AND NATIONAL BANK

On March 25, 2026, Minera Alamos Inc. executed a term sheet for a new $75-million (U.S.) revolving credit facility with Bank of Nova Scotia (Scotiabank) and National Bank of Canada. The term sheet has been approved by both banks' credit committees with closing and initial financing of the revolver subject to negotiation and execution of definitive loan, guarantee and security agreements and satisfaction of certain customary closing conditions.

Revolving credit facility key terms:

• Capacity of $75-million (U.S.) available on closing;
• Term of three years from closing date;
• Interest rate of term SOFR (secured overnight financing rate) plus a margin spread between 3.25 per cent and 4.25 per cent based on the company's total net debt/EBITDA (earnings before interest, taxes, depreciation and amortization) ratio;
• Revolver to have senior security over the company's material assets;
• Customary financial covenants, including: (1) total net debt/EBITDA less than or equal to 3.0 times; (2) interest coverage greater or equal to 3.0 times; and (3) minimum of liquidity of $10-million (U.S.);
• Scotiabank will be administrative agent, with both Scotiabank and National Bank acting as co-lead arrangers and joint bookrunners.

Darren Blasutti, executive vice-president, corporate development, commented: "We are immensely proud to partner with two Tier 1 Canadian banks and global mining finance leaders. This $75-million (U.S.) revolver will provide us with lower-cost debt financing and, combined with our strong working capital position, will allow us to advance our high-quality pipeline of permitted U.S. growth projects without equity dilution. Following closing, the initial drawdown under the revolver will enable the repayment of the existing gold prepayment facility, which will give our investors more meaningful participation to current high gold prices. We appreciate the collaboration with National Bank and Scotiabank and look forward to their continued support as we aim to become a leading, U.S.-focused intermediate gold producer by growing production and developing our pipeline of high-quality, low-capital projects."

Repayment of Auramet gold prepayment facility

The company intends to use an initial drawdown under the revolver to extinguish its gold prepayment facility with Auramet International Inc., which has helped support the company's financing efforts in prior lower-gold-price environments. The gold prepay, originally entered into on Oct. 1, 2025, as a part of the company's acquisition of Nevada assets from Equinox Gold Corp., provided upfront cash of $25-million (U.S.) in consideration for delivery of 7,830 gold ounces in 18 equal monthly instalments of 435 gold ounces from April, 2026, to September 2027. Repayment of the gold prepay will be done by delivering one cash-equivalent payment of the owed gold ounces, priced at the prevailing spot gold price at the time of repayment. Repayment and termination of the gold prepay are subject to closing of the revolver and initial financing. There is no assurance that the credit documents in respect of the revolver will be completed or that any amount will be drawn under the revolver.

Update on U.S. growth projects

As previously reported, the company is in the final stages of delivering the results of a prefeasibility study on its 100-per-cent-owned Copperstone gold project, located in La Paz county, Arizona. The company is also advancing the Pan life-of-mine plan optimization and is concurrently advancing mine development studies on the adjacent Gold Rock project, located just seven miles southeast from the Pan mine. There is potential to realize significant operating and cost synergies by combining the Pan mine and Gold Rock project, and the company anticipates releasing an updated technical report in Q4 2026.

About Minera Alamos Inc.

Minera Alamos is a growing North American gold production and development company with projects in Nevada, Arizona and Mexico. The company owns the Pan operating complex in White Pine county, Nevada, comprising the producing Pan heap-leach gold mine, the adjacent 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 county, Arizona, a permitted, advanced development gold project. The company maintains a portfolio of high-quality Mexican assets, including the Cerro de Oro open-pit gold project in northern Zacatecas, which has considerable past drilling and metallurgical work completed and is currently being guided through the permitting process by the company and its permitting consultants. Other Mexican projects owned by the company include the Santana open-pit, heap-leach gold mine in Sonora and the preliminary-economic-assessment-stage, permitted La Fortuna open-pit gold project in Durango. 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.