Alamos Gold Inc.
TSX : AGI

Alamos Gold Inc.

March 24, 2008 16:45 ET

Alamos Gold Inc. Announces Early Redemption of its Outstanding Convertible Debentures

TORONTO, ONTARIO--(Marketwire - March 24, 2008) - Alamos Gold Inc. (TSX:AGI) ("Alamos" or the "Company") announces that it has issued a notice of redemption to holders of its 5.5% convertible debentures due February 15, 2010 (the "Debentures") electing to redeem the outstanding $1,471,000 (all amounts in Canadian dollars) principal amount of Debentures for cash on April 28, 2008 ("Redemption Date"). A redemption amount of $1,011.00 will be paid for each $1,000 of principal amount of Debentures, being an amount equal to the aggregate of i) $1,000 for each $1,000 principal amount of Debentures plus ii) all accrued and unpaid interest up to but excluding the Redemption Date.

Holders of Debentures have the right to convert their Debentures prior to the close of business on the business day immediately preceding the Redemption Date by duly completing the required notice of conversion and delivering same at the place of business of Pacific Corporate Trust Company.

Further details concerning the Debentures including the rights of redemption and conversion are described in the trust indenture dated February 2, 2005 made between the Company and Pacific Corporate Trust Company, as trustee. A copy of the trust indenture is available from Pacific Corporate Trust Company.

About Alamos Gold Inc.

Alamos is a Canadian-based gold producer with operations, exploration and development activities in Mexico. The Company employs approximately 400 people in Mexico and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities. Alamos is fully leveraged to increases in gold prices. Alamos' common shares are traded on the Toronto Stock Exchange under the symbol "AGI" and convertible debentures under the symbol "AGI.DB".

Cautionary Note

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including without limitation statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Alamos, are forward-looking statements that may involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to anticipated Redemption Amount or Redemption Date relating to its Convertible Debentures, conversion rights, accrued interest and other information that is based on forecasts of future events not yet determinable and based on assumptions of management.

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." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements.

There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Alamos' expectations include, among others, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold and silver, as well as those factors discussed in the section entitled "Risk Factors" in Alamos' Annual Information Form. Although Alamos has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Alamos Gold Inc.
    John A. McCluskey
    President and Chief Executive Officer
    (416) 368-9932 x203
    or
    Alamos Gold Inc.
    Victoria Vargas
    Investor Relations
    (416) 368-9932 x201
    Website: www.alamosgold.com