Mr. Doug Ramshaw reports

MINERA ALAMOS INCREASES BOUGHT DEAL PRIVATE PLACEMENT OF COMMON SHARES TO C$13.0 MILLION

Minera Alamos Inc., due to strong investor demand, has agreed with National Bank Financial Inc. (NBF), the company's sole underwriter, to increase the size of its previously announced bought deal private placement of common shares of the company.

Under the amended terms of the offering, NBF has agreed to purchase, on a bought deal private placement basis, 20,635,000 common shares at a price of 63 cents for aggregate gross proceeds to the company of approximately $13.0-million. The company has also granted NBF an option exercisable at any time prior to the closing of the offering, to purchase for placement up to an additional 3,175,000 common shares at the offering price, for additional gross proceeds of up to approximately $2.0-million.

The company intends to use the net proceeds of the offering: to advance construction of its 100-per-cent-owned Santana gold development project located in Sonora, Mexico; for further exploration activities at its other 100-per-cent-owned development projects located in Mexico; and for general corporate purposes.

The offering is scheduled to close on or about Sept. 3, 2020, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

The common shares to be issued under the offering will have a hold period of four months and one day from closing.

About Minera Alamos Inc.

Minera Alamos is a gold development company poised to join the ranks of gold producers in 2021. The company has a portfolio of high-quality Mexican assets, including: the 100-per-cent-owned Santana open-pit, heap-leach development project in Sonora, which is currently under construction and is expected to have its first gold production in early 2021; and the newly acquired 100-per-cent-owned Cerro de Oro oxide gold project in northern Zacatecas, which has considerable past drilling and metallurgical work completed, and could enter the permitting process rapidly. The La Fortuna open-pit gold project in Durango (100 per cent owned) has an extremely robust and positive preliminary economic assessment (PEA) completed, and the company is nearing the end of the permitting process for the project. A construction decision on La Fortuna could be made in late 2020 or early 2021, highlighting the organic growth the existing project portfolio can provide to the overall production profile. Minera Alamos is built around its operating team, which together brought three mines into production in Mexico over the last 12 years.

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

We seek Safe Harbor.