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Our Kirazlı Gold Project in Turkey represents a significant near term source of low cost production growth with initial production expected within 18 months of receipt of outstanding permits.

Kirazlı Mine Animation

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Kirazlı Gold Project

Ownership 100%
Location Çanakkale, Turkey
Status Permitting
Operation Open Pit, heap leach
Commodity Gold & Silver
2012 Positive Pre-feasibility Study - Summary
Mine Life Years 5
Average Annual Production oz Au
oz Ag
Average Throughput tpd 15,000
Average Grade g/t Au
g/t Ag
Cash Operating Costs1 $US/oz $494
Total Cash Costs1 $US/oz $515
Pre-production Capex US$m $146.1
Total Capex US$m $165.7
Base Case IRR (after tax)2 % 39.4%
Tonnes Grade Contained Ounces
(000) (g/t Au) (g/t Ag) Au Ag
Measured & Indicated Resources3 32,734 0.72 8.74 757,877 9,201,790
Inferred Resources 5,689 0.59 8.96 107,635 1,638,365

2Base Case IRR was calculated assuming a $1,305/oz gold and $26.08/oz silver price

3M&I resources exclusive of Reserves

Please see 2015 year end Reserves and Resources statement for additional detail.


Acquired along with the Ağı Dağı project for approximately $90 million in 2010.


Average annual production of 99,000 ounces of gold over a 5 year mine life based on 2012 PFS.


Low cost and low technical risk project with initial production expected within 18 months of receipt of outstanding permits.


Low capital intensity with robust after tax IRR of nearly 40% as per 2012 PFS.


In 2012, Alamos achieved a significant milestone at Mulatos with the mine producing both its millionth ounce of production and generating its billionth dollar of revenue.


The 100% owned Ağı Dağı and Kirazlı gold development projects are located in Çanakkale Province on the Biga Peninsula of northwestern Turkey. Ağı Dağı is located about 50 kilometres southeast of Çanakkale, and Kirazlı is located approximately 25 kilometres northwest of Ağı Dağı. Alamos acquired the projects January 6, 2010 from Teck and Fronteer Development for total consideration of approximately $90m. A positive pre-feasibility study (PFS) was completed on Agi Dagi and Kirazlı in 2012 with both projects contemplated as stand-alone open-pit, heap-leach operations. Under the the PFS, Kirazlı is expected to produce an average of 99,000 oz of gold at total cash costs1 of $515/oz (inclusive of royalty) over a 5 year mine life.


Kirazlı is situated 25 km to the northwest of Aği Daği, with both projects located in the Çanakkale Province in the Biga Peninsula of northwestern Turkey, some 250 km by air southwest of Istanbul or 800 km west of Ankara, Turkey’s capital. The Company maintains an administrative office in Ankara, Turkey, and exploration offices in Etili and Sogutalan, both small towns located in the Biga District of Turkey. These offices support all activities for the Aği Daği and Kirazlı Projects. Çanakkale is the largest centre on the Biga Peninsula with a population of approximately 100,000. Infrastructure in close proximity to the project is excellent and well-serviced with paved roads, electricity, transmission lines, and electricity generating facilities, the most significant being a large coal-fired power plant adjacent to the nearby Town of Çan, which has a population of approximately 30,000.

The Kirazlı property consists of 1,541 hectares of mineral tenure in two contiguous licenses covering a prominent northwest trending ridge with 500 m of relief. One concession is classified as an operating license, and the other is an exploration license. Mineral rights for all concessions comprising the Turkish assets are controlled by Kuzey Biga and Doğu Biga, Turkish subsidiaries of the Company. As all projects are located in a forestry reserve, surface rights are controlled by the State government of Çanakkale.


On January 6, 2010, the Company acquired the Ağı Dağı and Kirazlı advanced-stage development projects through the purchase of three Turkish companies held by Teck Resources (“Teck”) and Fronteer Development Group (“Fronteer”). The Company paid a total of $40 million cash and issued an aggregate of 4 million common shares to Teck (as to 60%) and Fronteer (as to 40%), for total consideration amounting to $90 million at the closing of the sale.

In March 2010, the Company published a positive preliminary economic assessment technical report (“Scoping Study”) evaluating the economic potential of developing Ağı Dağı and Kirazlı into gold mines.

In addition, since acquiring the project, the Company began to delineate the Çamyurt exploration project, located approximately three kilometres southeast of Ağı Dağı.



The Kirazlı deposit is located in the Biga peninsula within the northern sector of the Aegean Horst and Graben System and between major structural zones. The local geology includes pre-Triassic metamorphic and ultramafic volcanic rocks and the basal section of the Triassic Krakaya sequence. These rocks have been intruded by Oligo-Miocene granite to granodiorite and overlain by Oligo-Miocene volcanic rocks ranging in composition from andesite to basalt. Phreatic and phreatomagmatic breccias that were emplaced at mushroom-shaped pipes cut the sequence. They are the result of intense structural and volcanic activity, and can be described as polymictic, matrix-supported breccias with moderately angular to well-rounded clasts of varying size and composition.

Silicification is the most prominent alteration type and is surrounded by advanced argillic, argillic and propylitic alteration zones. Four phases of silicification have been identified at Kirazli including grey massive and vuggy silica, chalcedonic to opaline silica (interpreted as the silica cap), grey quartz with a high pyrite content and crystalline silica that infills fractures.

Argillic alteration with a younger overprinting core of advanced argillic alteration underlies the massive grey silica and the later chalcedonic silica cap rocks. The advanced argillic alteration sits immediately below the silica cap and around its sub-vertical silica roots and is surrounded by widespread argillic alteration.

Propylitization occurs at depth in drill core and in outcrops at low elevations on the southwestern flank of Kirazlı Dağı. The presence of gypsum and calcite with the ubiquitous clays indicate propylitic alteration.

Four main structural trends are noted in the vicinity of the Kirazlı deposit; steep NW striking structures associated with caldera development, NE striking extensional features associated with horst and graben tectonics, north trending fractures (associated with zones of higher grade mineralisation) and later EW striking faults that offset mineralisation.


The Kirazlı deposit is an epithermal, high-sulphidation, disseminated gold system.

Gold mineralization is hosted within the heterolithic phreatomagmatic / phreatic breccia bodies that cut through the Oligo-Miocene-age andesitic tuffs. Mineralization can generally be subdivided into two main types: (1). A regional low-grade gold zone underlying much of Kirazlı Dağı and broadly enveloping the high-grade gold zones. This low grade mineralization occurs both above and below the zone of supergene oxidation (redox boundary). The wide spread, low grade mineralization is interpreted to be early and may be associated with the broad epithermal alteration that resulted in the chalcedonic silica (the second silica event). (2) Four elongate bodies of high-grade gold mineralization that occur in the uppermost argillic / advanced argillic zone and slightly overlapping the bottom of the silica cap. The high grade mineralization trends north-south and shows a strong spatial relationship with the margins of heterolithic breccia bodies.



Mining of the Kirazlı deposit will be done by open pit methods utilizing a traditional drill, blast, load and haul sequence to deliver ore to the primary crusher and waste to waste dumps, pit backfill and/or as heap leach pad construction fill. The pit designs are based on a 5 meter bench height to match the resource model bench height.

The Pre-feasibility assumes that a contract miner will be hired to provide mine equipment and operating personnel during pre-production and throughout the life of mine operations.

The mine plan calls for the delivery of 15,000 tpd of ore to the crusher at Kirazlı. Mining activity after the pre-production periods will be approximately five years at Kirazlı.

The recommended pit slope angles range from 18 to 42 degrees, in compliance with best practices for safety standards.

Processing and Infrastructure

The Kirazlı project has been designed as a heap leach operation utilizing a multiple-lift, single-use leach pad. Ore will be processed by primary crushing and open circuit secondary crushing to a nominal size of one inch. The secondary crushed ore will be agglomerated with cement in an agglomeration drum, stacked on the heap leach pad by conveyor stacking and processed by conventional heap leaching methods.

Similarly, a single heap leach facility is planned for the Kirazlı site. The Kirazlı Heap Leach Facility will have a capacity of approximately 26 million tonnes which was based upon the estimated measured and indicated resource at the time of the PFS.

Processing at Kirazlı includes heap leaching of crushed ore with dilute cyanide solutions with precious metals production in carbon adsorption-desorption-recovery (“ADR”) plants to produce gold/silver doré bars. Sufficient metallurgical testing has been completed on samples to support the Pre-feasibility level design of the process facilities. Wherever practical, identical equipment was used at both Ağı Dağı and Kirazlı to minimize spare parts handling and inventories, and to facilitate major equipment operations and maintenance.

Gold and silver recoveries by alteration type were estimated based on a column leach testing program. Testing results indicated crushing with cement agglomeration is required to achieve the estimated recoveries. The overall gold recoveries at Kirazlı are expected to average 81% while silver recoveries are lower and expected to average 31%. Reagent consumptions are low to moderate and leach times are at 90 days at both projects.

Preferred sites have been selected for heap leach facilities and waste rock dump sites at Kirazlı. Preliminary designs were completed for these facilities, and geotechnical characterization and engineering analyses were conducted to confirm stability and support the Pre-feasibility cost model.

Power connection for Kirazlı will be from an existing power line that feeds the village of Kirazlı. Approximately 4.6 kilometers of new power lines will be required to feed power to Kirazlı.

Operational water will be used at the project to wet new ore stacked on the leach pad, replace evaporation losses on the heap leach pad facilities, provide dust-control for haul roads, access roads, crushing and ADR operations, and construction activities. Water will be supplied to the projects mainly via a pipeline from the planned reservoir, from wells, and/or from surface water collected at each site.

Alamos has initiated an engineering design and feasibility study for a reservoir which will supply potable water to nearby communities in Ağı Dağı and Kirazlı, comprising over 20 villages, and sustainable process water to Ağı Dağı and Kirazlı mining operations. Alamos has committed to design and construct the reservoir in partnership with the government agency, the State Hydraulic Works (“DSI”). Dam design includes sufficient capacity for peak process water requirements and has been sized to accommodate drinking water requirements for the projected population for the year 2065 of the surrounding communities.

Since acquiring the Ağı Dağı and Kirazlı projects in early 2010 and in line with the Company’s objectives of sustainable development and social responsibility, the Company recognized the importance of improving the quality of potable water delivered to the local communities within its project areas and has committed to the development of the reservoir.

Technical Information and Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

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Non-GAAP Information

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The non-GAAP information is not prepared in accordance with GAAP and may not be comparable to non-GAAP information used by other companies. The non-GAAP information should not be viewed as a substitute for, or superior to, other data prepared in accordance with GAAP.


Reconciliation of non-GAAP and additional GAAP measures

General Disclaimer

Alamos Gold Inc. ("Alamos" or the “Company”), has taken all reasonable care in producing and publishing information contained in this website, and will endeavour to do so regularly. Material on this site may contain technical or other inaccuracies, omissions, or typographic errors, for which Alamos assumes no responsibility. Alamos does not warrant or make any representations regarding the use, validity, accuracy, completeness, or reliability of any claims, statements, or information on this site. Under no circumstances, including but not limited to, negligence, shall Alamos be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer or other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material on this site. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use, unless you have obtained our express written permission. The TSX and NYSE have not reviewed and do not accept responsibility for the adequacy or accuracy of information on this website.

Cautionary Notes – Forward Looking Statements

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Certain statements in this website are “forward-looking statements”, including within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this website, including without limitation statements regarding forecast gold production, gold grades, recoveries, waste-to-ore ratios, total cash costs, potential mineralization and reserves, exploration results, and future plans and objectives of Alamos, are forward-looking statements based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management that involve various risks and uncertainties. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be “forward-looking statements.” Alamos cautions that forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Alamos' actual results, performance or achievements to be materially different from those expressed or implied by such information, including, but not limited to, gold and silver price volatility; fluctuations in foreign exchange rates and interest rates; the impact of any hedging activities; discrepancies between actual and estimated production, between actual and estimated reserves and resources or between actual and estimated metallurgical recoveries; costs of production; capital expenditure requirements; the costs and timing of construction and development of new deposits; and the success of exploration and permitting activities. In addition, the factors described or referred to in the section entitled “Risk Factors” in both Alamos Gold Inc.’s Annual Information Form for the year ended December 31, 2014 and the Annual Information Form for the year ended December 31, 2014 of AuRico Gold Inc., (each a predecessor to Alamos Gold Inc.), along with each of these entities’ subsequent public filings available on the SEDAR website at, should be reviewed in conjunction with the information found in this website. Although Alamos has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking information.

Note to U.S. Investors

Alamos prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to mineral resources in this website are defined in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The United States Securities and Exchange Commission (the “SEC”) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Alamos may use certain terms, such as “measured mineral resources”, “indicated mineral resources”, “inferred mineral resources” and “probable mineral reserves” that the SEC does not recognize (these terms may be used in this website and are included in the public filings of Alamos, which have been filed with the SEC and the securities commissions or similar authorities in Canada).

Cautionary non-GAAP Measures and Additional GAAP Measures

Note that for purposes of this section, GAAP refers to IFRS. The Company believes that investors use certain non-GAAP and additional GAAP measures as indicators to assess gold mining companies. They are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared with GAAP.
Additional GAAP measures that are presented on the face of the Company’s consolidated statements of comprehensive income include “Mine operating costs”, “Earnings from mine operations” and “Earnings from operations”. These measures are intended to provide an indication of the Company’s mine and operating performance. “Cash flow from operating activities before changes in non-cash working capital” is a non-GAAP performance measure that could provide an indication of the Company’s ability to generate cash flows from operations, and is calculated by adding back the change in non-cash working capital to “Cash provided by (used in) operating activities” as presented on the Company’s consolidated statements of cash flows. “Free cash flow” is a non-GAAP performance measure that is calculated as cash flows from operations net of cash flows invested in mineral property, plant and equipment and exploration and evaluation assets as presented on the Company’s consolidated statements of cash flows and that would provide an indication of the Company’s ability to generate cash flows from its mineral projects. Return on Equity is defined as Earnings from Continuing Operations divided by the average Total Equity for the current and previous year. “Mining cost per tonne of ore” and “Cost per tonne of ore” are non-GAAP performance measures that could provide an indication of the mining and processing efficiency and effectiveness of the mine. These measures are calculated by dividing the relevant mining and processing costs and total costs by the tonnes of ore processed in the period. “Cost per tonne of ore” is usually affected by operating efficiencies and waste-to-ore ratios in the period. “Cash operating costs per ounce”, “total cash costs per ounce” and “all-in sustaining costs per ounce” as used in this analysis are non-GAAP terms typically used by gold mining companies to assess the level of gross margin available to the Company by subtracting these costs from the unit price realized during the period. These non-GAAP terms are also used to assess the ability of a mining company to generate cash flow from operations. There may be some variation in the method of computation of these metrics as determined by the Company compared with other mining companies. In this context, “cash operating costs per ounce” reflects the cash operating costs allocated from in-process and dore inventory associated with ounces of gold sold in the period. “Cash operating costs per ounce” may vary from one period to another due to operating efficiencies, waste-to-ore ratios, grade of ore processed and gold recovery rates in the period. “Total cash costs per ounce” includes “cash operating costs per ounce” plus applicable royalties. Cash operating costs per ounce and total cash costs per ounce are exclusive of exploration costs. “All-in sustaining costs per ounce” include total cash costs, exploration, corporate and administrative, share based compensation and sustaining capital costs. Non-GAAP and additional GAAP measures do not have a standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures presented by other companies. For a reconciliation of non-GAAP and GAAP measures, please refer to Alamos’ Managements’ Discussion and Analysis as presented on SEDAR and the Company’s website.

Technical Information

Except as otherwise noted herein, Chris Bostwick, FAusIMM, Alamos Gold’s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this website. Chris Bostwick is a Qualified Person within the meaning of Canadian Securities Administrator’s National Instrument 43-101. For more information, please refer to the Alamos Gold Inc. and AuRico Gold Inc. 2014 Annual Information Forms and the technical reports referenced therein and in this website, available on SEDAR (