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☑ Alamos Gold Inc. Brookfield Place , 181 Bay Street , Suite 3910 , P.O. Box # 823 Toronto , Ontario M5J 2T3 Telephone : ( 416 ) 368-9932 or 1 ( 866 ) 788-8801 All amounts are in United States dollars , unless otherwise stated . Alamos Gold Reports First Quarter 2021 Results Toronto , Ontario ( April 28 , 2021 ) - Alamos Gold Inc. ( TSX : AGI ; NYSE : AGI ) ( " Alamos " or the " Company " ) today reported its financial results for the quarter ended March 31 , 2021 . " We had a strong start to 2021 with gold production exceeding guidance for the quarter . Our Canadian operations performed particularly well , with Young - Davidson ramping up to record mining rates and yet another quarterly production record at Island Gold , ” said John A. McCluskey , President and Chief Executive Officer . " We also made good progress on our internal growth initiatives while continuing to generate solid free cash flow . Development activities are ramping up at La Yaqui Grande and on the Phase III expansion at Island Gold , and we continue to advance permitting of our Lynn Lake project . All are key components of our strong outlook with approximately 50 % production growth at significantly lower costs supporting substantial free cash flow growth over the long - term , " Mr. McCluskey added . • • • • First Quarter 2021 • • • • • • • Production of 125,800 ounces of gold , above the top end of quarterly guidance , and a 14 % increase from the first quarter of 2020 , driven by significantly higher production at Young - Davidson and another record quarter at Island Gold Young - Davidson produced 48,000 ounces of gold and generated mine - site free cash flow¹ of $ 22.3 million . The strong performance was driven by record mining rates of 7,791 tonnes per day ( " tpd " ) from the new lower mine infrastructure , exceeding the targeted mining rate of 7,500 tpd Island Gold produced a record 42,200 ounces of gold and generated mine - site free cash flow¹ of $ 26.0 million , net of growth expenditures and capitalized exploration of $ 16.8 million Generated free cash flow¹ of $ 9.9 million , net of $ 16.8 million of capital advances for the La Yaqui Grande project and the Phase III expansion at Island Gold , and $ 18.2 million in cash taxes paid in Mexico , primarily related to 2020 Sold 126,482 ounces of gold at an average realized price of $ 1,798 per ounce for record revenues of $ 227.4 million Generated cash flow from operating activities of $ 99.3 million ( $ 119.6 million , or $ 0.30 per share , before changes in working capital¹ ) , a 75 % increase compared to the first quarter of 2020 Consolidated total cash costs¹ of $ 757 per ounce , all - in sustaining costs ( " AISC " ) 1 of $ 1,030 per ounce and cost of sales of $ 1,101 per ounce were all in line with annual guidance , despite the impact of the stronger than budgeted Canadian dollar Realized adjusted net earnings of $ 49.1 million , or $ 0.13 per share¹ , which includes adjustments for unrealized foreign exchange gains of $ 2.3 million , recorded within deferred taxes and foreign exchange , and other one- time losses of $ 0.2 million . Adjusted net earnings increased 67 % compared to the first quarter of 2020 Recorded net earnings of $ 51.2 million , or $ 0.13 per share Ended the quarter with cash and cash equivalents of $ 238.2 million and equity securities of $ 26.7 million . During the quarter , the Company generated $ 20.7 million in cash on the liquidation of certain equity securities and realized an after - tax gain of $ 9.3 million ( recorded within equity ) Paid a quarterly dividend of $ 9.8 million , or US $ 0.025 per share ( annualized rate of US $ 0.10 per share ) , representing a 25 % increase from the previous quarter Repurchased 200,262 common shares at a cost of $ 1.5 million , or $ 7.35 per share , under the Company's Normal Course Issuer Bid ( " NCIB " ) Reported year end 2020 Mineral Reserves of 9.9 million ounces , up from 9.7 million ounces at the end of 2019 with additions at Island Gold , Young - Davidson and Lynn Lake more than offsetting mining depletion . This included an 8 % increase in Mineral Reserves , as well as a 40 % increase in Inferred Mineral Resources at Island Gold , for a combined increase of 1.0 million ounces