In connection with staff’s issuer-oriented review of the Issuer’s continuous disclosure record, the Issuer filed its Annual Report on Form 20-F for the year ended October 31, 2024 on SEDAR+ to comply with subsection 11.1(b) of NI 51-102.

In connection with a continuous disclosure review by Staff of the Ontario Securities Commission with respect to prior disclosure regarding the Island Gold Mine, the Issuer’s press release acknowledged the use of inferred mineral resources in economic analyses, including production schedules, mine life and cash flow models in prior technical reports on the Island Gold Mine. Such disclosure was prohibited under paragraph 2.3(1)(b) of NI 43-101 which restricts public disclosure of the results of an economic analysis that includes or is based on inferred mineral resources. In addition, NI 43-101 incorporates by reference the CIM Definition Standards (2014) which states that inferred mineral resources must not be included in the economic analysis, production schedules, or estimated mine life in publicly disclosed prefeasibility or feasibility studies, or in the life of mine plans and cash flow models of developed mines. The 2025 Base Case Island Gold District Technical Report to be filed within 45 days is being prepared and will be disclosed without the inclusion of inferred mineral resources in economic analyses, including production schedules, mine life and cash flow models and will supersede any prior technical reports published by Alamos with respect to the Island Gold Mine.