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The Creation of an Emerging U.S. Focused Gold Producer TSX.V:MAI|OTCQX: MAIFF November 2025
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Forward Looking Statement & Cautionary Note TSX.V:MAI|OTCQX: MAIFF|mineraalamos.com 2 Cautionary Statement Regarding Forward Looking StatementsThis presentation contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes statements that use forward-looking terminology such as “may”, “could”, “would”, “will”, “should”, “intend”, “target”, “plan”, “expect”, “budget”, “estimate”, “forecast”, “schedule”, “anticipate”, “believe”, continue”, “potential”, “view” or the negative or grammatical variation thereofor other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, statements regarding the growth of Mineral Alamos Inc. (“Minera” or the “Company”) into a mid-tier producer; execution of the Company’s capital markets strategy; completion of the acquisition (the “Acquisition”) of the producing Pan Gold Mine (“Pan”), Gold Rock Project (“Gold Rock”) and IllipahProject (“Illipah” and together with Pan and Gold Rock, the “Nevada Assets”) located in Nevada, U.S. from Equinox Gold Corp. (“Equinox”); the anticipated impacts and benefits of the Acquisition on the Company’s business, operations, results of operations, andfinancial position; statements regarding future mineral production; expectations, strategies and plans for its properties and the Nevada Assets; the Company’s planned exploration, development and production activities; adding orupgrading mineral resources and mineral reserves; future replacement of mineral reserves; developing new mineral deposits; future capital and operating costs; the costs and timing of future exploration and development; the timing, receipt and maintenance of necessary approvals, licenses and permits from applicable governments, regulators or third parties; estimates for future prices of gold and other minerals; future valuation and performance of the Company’s securities; expectations regarding liquidity, capital structure, and competitive position; and any other statement that may predict, forecast, indicate or imply future plans, intentions, levels of activity, results, performance or achievements. Forward-looking statements reflect the Company’s expectations and assumptions about the future based on management’s perception of historical trends, current conditions, and expected future developments, and other factors that management believes are appropriate in the circumstances as at the date of this presentation. In preparing the forward-looking information, the Company has made various material assumptions, including, but not limited to: the ability of the Company and Equinox to obtain all necessary consents and approvals required to complete the Acquisition and the timing for completion thereof; closing of the financing transactions to fund the cash purchase price for the Acquisition; the anticipated impact of the Acquisition on the operations of the Company; the projected financial and operational information of the Companyupon completion of the Acquisition; the Company’s present and future business strategies and operating performance; anticipated future production and cash flows; local and globaleconomic conditions and the environment in which the Company will operate in the future; the price of gold other key commodities; projected mineral grades; international exchange rates; anticipated capital and operating costs; and the availability and timing of required stock exchange, regulatory,governmental and other approvals. These assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking information. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Forward-looking information involves known and unknown risks, uncertainties and other factors, and does not guarantee future performance. Such factors include risks related to the closing of the Acquisition and the concurrent financing; risks related tothe financial impact that tariffs placed on Canada or Mexico by the United States and risks related to retaliatory tariffs placed on the United States by either Canada or Mexico; risks related to new members of management of the Company, and the risks described in the ‘‘Risk Factors” section of the Company’s annual management’s discussion and analysis dated December 31, 2024, and the Company’s annual information form dated May 7, 2025, and the Company’s other continuous disclosure documents, and with respect to the Nevada Assets, the risk factors as described in the annual management discussion and analysis of CalibreMining Corp. (“Calibre”) for its financial year ended December 31, 2024, and the annual information form of Calibredated March 24, 2025, all of which are available on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events, conditions, results, performance or achievements to differ materially from those described in forward-looking information, there may be other factorsthat cause actions, events, conditions, results, performance or achievements to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information contained herein is made as of the date of this presentation or as of the date indicated, and the Company disclaims any obligation to update or revise any forward-looking information, whether as a result of new information, future events or results or otherwise, except as and to the extent required by applicable law. The Company expressly disclaims any obligation to update or revise any such forward-looking statements. The scientific and technical information in this presentation is derived from the following technical reports prepared in accordance with National Instrument 43-101 –Standards of Disclosure for Mineral Projects (“NI 43-101”) by the following “qualified persons” (as such term is defined in NI 43-101) : (i) NI 43-101 Technical Report titled “Mineral Resource Update and Preliminary Economic Assessment of the La Fortuna Gold Project, Durango State, Mexico” by CSA Global, dated July 13, 2018; (ii) NI 43-101 Technical Report titled “Preliminary Economic Assessment and Mineral Resource Estimate for the Cerro de Oro Project” dated Jan 5th, 2023; (iii) NI43-101 Technical Report titled “Mineral Resource Estimate for the Santana Project, Sonora, Mexico” dated October 16th, 2023; (iv) NI43-101 Technical Report titled “Los Verdes Cu/Mo Project –Preliminary Economic Assessment” prepared by Golder Associates Ltd for Virgin Metals Ltd and dated May 2012; (v) NI-43-101 Technical report titled “Preliminary Economic Assessment for the CopperstoneProject, La Paz County, Arizona, US” prepared by Hard Rock Consulting LLC and dated February 2025; Technical Report on the Pan Mine, Nevada USA prepared by SRK Consulting and dated March 2023; and Technical Report on the Gold Rock Project (prepared for Fiore Gold Ltd.), Nevada USA prepared by APEX Geoscience Ltd and John T. Boyd Company dated April 2020 and amended September 2021The Preliminary Economic Assessments (PEA) discussed in this presentation are preliminary in nature, that include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Inferred mineral resources are subject to uncertainty as to their existence and as to their economic and legal feasibility. The level of geological uncertainty associated with an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability. There is no certainty that the preliminary economic assessment will be realized. Economic studies will need to be completed prior to accurate guidance and projections being provided.