Minera Alamos Inc. Updates Progress at La Fortuna Gold Project

TORONTO, ONTARIO--(Marketwired - Oct. 5, 2016) - Minera Alamos Inc. (TSX VENTURE:MAI) (the "Company" or "Minera Alamos") is pleased to provide an update on the development work underway at the La Fortuna gold project in Durango Mexico. Efforts are currently being focused on two principal milestones; completion of the permit applications and preparation of the recently acquired grinding/flotation facility for transport to Mexico.

"The level of project detail required for the permits is not dissimilar from what will be ultimately utilized in our Pre-Feasibility Study," said Darren Koningen, President at Minera Alamos. "Once these applications are submitted, we can turn our attention to the final plan optimization and completion of that study. In tandem, we will initiate the refurbishment and staging of the plant in Mexico and begin an exploration program focused on expanding our existing resource base."

Permit Applications

Two applications are currently being finalized for the La Fortuna project; the Environmental Impact Statement (Manifestacion de Impacto Ambriental) and an Environmental Risk Study (Estudio de Riesgo Ambiental). The most significant components of these applications include:

• Infrastructure Proposals - Detailed plans covering site layout, areas of disturbance, access roads, camps, waste water, electricity generation/access, etc. have now been completed providing a thorough understanding of the project's impact on the area.
  
  
• Mine Construction - A mine plan based on the current resource has been finalized as well as all ancillary plan elements including access ramps, mine waste locations, storage of surface soil and mine fleet details.
  
  
• Plant Design - Based on the specifications of the grinding/flotation facility purchased earlier this year, an overall plant design has been produced including design drawings detailing the civil, mechanical and electrical works. Also now complete are all required flowsheets summarizing estimated mass and volume flowrates.
  
  
• Operational Plans - Operation and maintenance procedures are being documented including workforce estimates, emissions controls, equipment maintenance, explosives use, and waste generation and management.
  
  
• Closure Plans - Also required for inclusion is the project closure plan specifying landscape performance goals, reclamation technologies, methods and plans and long term monitoring and maintenance.
  
  

Discussions are well underway with the local landowners and residents to complete agreements for surface land use. Once these agreements are in place, the application will be submitted and with permits expected to be issued in Q2 2017.

Mineral Processing Facility

Earlier this year, the Company announced that it had acquired the assets of a previously operational grinding/flotation facility for use in the construction of the La Fortuna project. That equipment currently resides in Val D'or Quebec. Certain upgrades and arrangements are underway in preparation for shipment later this year.

• All equipment and component parts have been inventoried and cataloged in detail in preparation for export;
  
  
• All of the large mill motors have been shipped to an offsite mine service facility to be inspected, tested and repaired or refurbished as necessary in preparation for reinstallation at the La Fortuna project;
  
  
• To date, approximately twenty shipping containers have been packed or re-packed with equipment in a manner appropriate for transportation. Work continues at the storage site to complete this exercise;
  
  
• Logistics, customs and shipping tenders are being received and reviewed in order to establish the best mode and route of transportation at defined and reasonable costs.
  
  

About Minera Alamos

Minera Alamos is a junior exploration and development company. Its growing portfolio of high-grade Mexican projects includes the La Fortuna open pit gold project in Durango and the Los Verdes open pit copper-molybdenum project in Sonora, both currently in development.

Cautionary Note Regarding Forward‐Looking Statements

This press release contains "forward looking statements" and "forward-looking information" under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information with respect to the proposed transaction, timing of the closing of proposed transaction and the Company's consideration of the proposed production plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "estimates", "intends", "anticipates" or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made at the date that such statements are made.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including the risk factors disclosed elsewhere in the Company's public disclosure. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purposes of assisting readers in understanding the Company's plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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