Alamos Gold sale of Quartz Mountain Gold Project

On April 3, 2025, Alamos Gold Inc. (“Alamos”) announced that it entered into a binding agreement to sell its non-core Quartz Mountain Gold Project (“Quartz Mountain”) to Q-Gold Resources Ltd. (“Q-Gold”) for total consideration of up to C$21 million and a 9.9% equity interest in Q-Gold.

Quartz Mountain is a later stage exploration project located in Lake County, Oregon, with an established mineral resource and strong exploration potential through a large prospective land package.

The total consideration includes:

1. C$2.85 million in cash and 9.9% of common share equity in Q-Gold upon closing of the transaction
2. C$8.15 million of guaranteed payments in cash or common shares, at Alamos’ election, as follows:

• C$3.15 million payable one year after the transaction’s closing
• C$2.5 million payable two years after the closing
• C$2.5 million payable three years after the closing

3. C$10 million of milestone payments in cash or common shares, at Alamos’ election, as follows::

• C$5 million payable upon the earlier of (i) completion of a Feasibility Study, or (ii) announcing a construction decision on Quartz Mountain
• C$5 million payable upon receiving key permits required for the construction and operation of Quartz Mountain.

Closing is expected in the second quarter of 2025, subject to customary closing conditions for transactions of this nature.

Further information can be found on Globe Newswire’s website.

Q-Gold Resources is a publicly traded Canadian-based mineral exploration company targeting high-grade gold and silver discoveries in multiple jurisdictions.

Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America.