Minera Alamos Announces Completion Of C$135 Million Bought Deal Offering

Toronto, Ontario--(Newsfile Corp. - September 17, 2025) - Minera Alamos Inc. (TSXV: MAI) (" Minera Alamos " or the " Company ") is pleased to report that the Company has closed the "bought deal" private placement (the " Offering ") of subscription receipts (the " Subscription Receipts ") previously announced on August 7, 2025. Pursuant to the Offering, the Company has issued an aggregate of 380,282,535 Subscription Receipts at an issue price of C$0.355 per Subscription Receipt, for gross proceeds of approximately C$135,000,300, which includes 70,422,535 Subscription Receipts issued pursuant to the full exercise of the over-allotment option granted to the Underwriters (as defined below) in connection with the Offering.

Darren Koningen, Minera Alamos' CEO commented: "We are extremely pleased with the significant interest from the investment community to the Offering, which included the full exercise of the Underwriters' over-allotment option. This acquisition offers the potential to unlock significant value in our late-stage project development pipeline and allows the Company to leverage internal cash flow to significantly grow the Company's production profile over the next few years. I would like to thank the efforts of all of those who were involved including Jason Kosec who was instrumental in the completion of the transaction and we welcome as our incoming Chairman."

Stifel Canada acted as sole bookrunner for the Offering, which included a syndicate of underwriters consisting of BMO Capital Markets, Desjardins Capital Markets and National Bank Financial Inc. (collectively the " Underwriters ").

Offering Highlights

Each Subscription Receipt will be automatically exchanged for, upon satisfaction or waiver of certain release conditions (including the satisfaction of all conditions precedent to the completion of the Acquisition) (the " Escrow Release Conditions "), without payment of additional consideration or further action on the part of the holder, one common share of the Company (each, a " Common Share ") and one Common Share purchase warrant (each, a " Warrant "), with each Warrant exercisable to purchase one Common Share at a price of C$0.705 for a period of 36 months following the completion of the Offering. For additional details related to the Acquisition (as defined below) and the Offering, please see Minera Alamos' press release entitled " Minera Alamos Announces Acquisition of Producing Gold Complex from Equinox and Appoints Jason Kosec as Part of Leadership Group to Direct Strategic Growth Initiatives " issued on August 7, 2025 (the " August 7 Release "). The Acquisition is anticipated to close at the end of Q3 2025.

The gross proceeds from the sale of the Subscription Receipts, less 25% of the commission payable to the Underwriters in respect of the Subscription Receipts and certain expenses of the Underwriters, have been deposited and will be held in escrow by TSX Trust Company, as subscription receipt agent, and will be released upon the satisfaction or waiver of the Escrow Release Conditions. If the Escrow Release Conditions are not satisfied or waived on or before 5:00 p.m. (Eastern Time) on January 17, 2026 or the Acquisition is otherwise terminated at an earlier time, then the escrowed proceeds, together with interest earned thereon, will be returned on a pro rata basis to the holders of the Subscription Receipts, and the Subscription Receipts will be cancelled and have no further force and effect.

The Company intends to use the net proceeds from the Offering to fund the upfront cash consideration for the recently announced acquisition of Equinox Gold Corp.'s Pan Mine, Gold Rock Project and Illipah Project as described in the August 7 Release.

All securities issued under the Offering will be subject to a hold period expiring four months and one day from the date hereof. The Offering is subject to final acceptance of the TSX Venture Exchange.

This press release does not constitute an offer to sell or the solicitation of an offer to buy Subscription Receipts or common shares issuable upon the exchange of Subscription Receipts in the United States or in any Jurisdiction in which such an offer, solicitation or sale would be unlawful. The Subscription Receipts and common shares issuable upon the exchange of Subscription Receipts have not been approved or disapproved by any regulatory authority. The Subscription Receipts and common shares issuable upon the exchange of Subscription Receipts have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any state securities laws and may not be offered, sold or delivered in the United States except in transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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