Highlights

M&I Resources - 403,000 oz @ 0.66 g/t gold

Inferred Resources - 84,000 oz @ 0.87 g/t gold

Potential Mine Life - 6.5 years

1. M&I Mineral Resources are inclusive of Mineral Reserves. See Technical Reference section below

Overview

The Gold Rock Project is a federally permitted open-pit, heap leach gold project located approximately 15 km southeast of Minera’s Pan Mine on the prolific Battle Mountain–Eureka gold trend in Nevada. With grades approximately 30% higher than those at Pan, Gold Rock represents a compelling near-term growth opportunity for Minera Alamos in a proven jurisdiction.

A Preliminary Economic Assessment (PEA) completed in 2020 outlined a 6.5-year mine life with average annual production of 55,800 ounces of gold, totaling 362,750 ounces of gold over the initial mine life. The PEA, using 2020 economics, forecast cash costs of $903/oz and AISC of $1,008/oz.

Minera Alamos sees significant exploration potential, both within the defined resource areas and across surrounding underexplored targets. Ongoing drilling, state permitting, and technical studies will inform further project development and future reserve conversion.

Technical References

CIM (2014) Definition Standards were followed for Mineral Reserves. Mineral Resources are inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Tonnage and grade measurements are in metric units. Contained gold is reported as troy ounces. Mineral resources do not include factors such as mining dilution or mining recovery. There is no certainty that the mine plans and economic models contained in any of the reports will be realized. Numbers may not add due to rounding. 

Details of cut-off grades, bulk densities, mining widths, dilution, mining factors, and process recovery assumptions applied to Mineral Reserves and Mineral Resources are provided in the Technical Reports for each mine/project. Unless otherwise stated, Mineral Reserve and Mineral Resource information for each project is summarized, derived, or extracted from the following respective reports:

For the Gold Rock Project: “Amended Technical Report on the Preliminary Economic Assessment of the Gold Rock Project, White Pine County, Nevada, USA” prepared by Apex Geoscience Ltd and John T Boyd Company dated April 30, 2020 with an effective date of March 31, 2020 and an amended date of September 3, 2021.