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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 Second Quarter 2021 Results Toronto , Ontario ( July 28 , 2021 ) - Alamos Gold Inc. ( TSX : AGI ; NYSE : AGI ) ( “ Alamos " or the " Company " ) today reported its financial results for the quarter ended June 30 , 2021 . " Our overall performance through the first half of 2021 has been solid , led by another strong quarter at Young- Davidson which continues to meet or exceed expectations operating from the new lower mine infrastructure . We expect mining rates at Young - Davidson to increase to design capacity in the third quarter driving our consolidated production and free cash flow higher in the second half of the year . Combined with a stronger performance from Mulatos , we remain well positioned to achieve full year guidance , " said John A. McCluskey , President and Chief Executive Officer . " We had a successful quarter on the exploration front at Young - Davidson and Island Gold with results from both operations highlighting the significant upside potential , in particular at Island Gold where we reported the best hole ever . Our other internal growth initiatives continue to advance , including work on the Phase III expansion at Island Gold , construction of La Yaqui Grande , and permitting at Lynn Lake . All support our strong long term outlook with production potential of approximately 750,000 ounces per year at substantially lower costs by 2025 , " Mr. McCluskey added . Second Quarter 2021 • • • Production of 114,200 ounces of gold , a 46 % increase from the second quarter of 2020 , primarily reflecting temporary downtime related to COVID - 19 during the prior year period Young - Davidson produced 45 , 100 ounces of gold and generated mine - site free cash flow¹ of $ 18.7 million . Mining rates of 7,504 tonnes per day ( " tpd " ) were in - line with the targeted mining rate of 7,500 tpd , and are expected to increase to the long - term run rate of 8,000 tpd in the third quarter Island Gold produced 33,200 ounces of gold and generated mine - site free cash flow¹ of $ 13.7 million , net of growth capital expenditures and capitalized exploration totaling $ 28.5 million Sold 107,581 ounces of gold at an average realized price of $ 1,814 per ounce for revenues of $ 195.1 million , a 55 % increase compared to the second quarter of 2020. Ounces sold were lower than production due to the timing of shipments , with deferred ounces being sold in July Generated cash flow from operating activities of $ 86.7 million ( $ 97.2 million , or $ 0.25 per share , before changes in working capital¹ ) , a 75 % increase from the prior year period Free cash flow¹ neutral in the quarter , net of $ 6.2 million in cash taxes paid in Mexico , higher capital spending mainly related to La Yaqui Grande , and the above noted deferred gold sales . The Company expects stronger free cash flow in the second half of 2021 reflecting higher gold production and sales Consolidated total cash costs¹ of $ 791 per ounce , all - in sustaining costs ( " AISC " ) 1 of $ 1,136 per ounce and cost of sales of $ 1,180 per ounce were higher than annual guidance primarily due to the impact of the stronger than budgeted Canadian dollar , with USD / CAD foreign exchange rate averaging $ 0.81 : 1 relative to the budgeted rate of $ 0.75 : 1 Filed an investment treaty claim against the Republic of Turkey for expropriation and unfair and inequitable treatment , among other things , with respect to its Turkish projects . As a result , the Company recorded a non- cash , after - tax impairment charge of $ 213.8 million in the period , representing the entire carrying value of the Turkish assets