Minera Alamos Inc

Minera Alamos Inc. is a Canadian gold development company focused on building a portfolio of low-capital, high-margin gold mines in North America. With a proven management team that has successfully brought multiple mines into production, Minera Alamos is advancing three key gold projects: Santana (in production), Cerro de Oro (permitted and funded), and La Fortuna (fully permitted, awaiting construction decision). The company’s low capital intensity and staged growth strategy position it as a rising mid-tier gold producer.

Minera Alamos’ projects are strategically located in Mexico, a mining-friendly jurisdiction with strong infrastructure and governmental support. The company employs heap leach mining expertise to develop low-cost operations that generate early cash flow, reducing financial risk. With a disciplined approach to project development and a focus on operational efficiency, Minera Alamos is well-positioned to achieve sustainable long-term growth.

Listed on the TSX Venture Exchange (TSX.V: MAI) and OTCQX (MAIFF), the company is backed by a strong technical team with extensive experience in mine construction, permitting, and operations.

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Minera Alamos presents a compelling investment opportunity as an emerging low-cost gold producer with a multi-mine growth strategy. The company’s flagship Santana Mine is already in production, generating cash flow to support the development of its Cerro de Oro and La Fortuna projects. Once fully operational, Minera Alamos expects to produce over 100,000 ounces of gold annually across its assets.

The Cerro de Oro project offers one of the most attractive near-term development opportunities in the gold sector, with an initial mine life of 8 years, a low strip ratio of 0.3:1, and an all-in sustaining cost (AISC) of just $873/oz—well below industry averages. Minera Alamos has secured a $25 million funding package to advance construction upon final permit approval, further de-risking the project.

With low capital costs, strong project economics, and a de-risked development pathway, Minera Alamos stands out among junior gold developers. The company’s focus on cost-efficient, scalable operations makes it well-positioned to deliver strong financial returns in a rising gold price environment.

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Minera Alamos is led by a seasoned management team with a proven track record of mine development, construction, and operations. The team has successfully built and operated multiple mines in North America, bringing deep expertise in heap leach gold mining, project financing, and resource expansion.

Darren Koningen (CEO & Director) – A metallurgical engineer with over 30 years of experience, Darren previously led the development of the El Castillo gold mine at Castle Gold, later acquired by Argonaut Gold. His expertise in low-cost gold extraction and heap leach processing is a key driver of Minera Alamos’ success.

Doug Ramshaw (President & Director) – A geologist and mining executive with 30 years in the resource sector, Doug brings expertise in project evaluation, corporate development, and investor relations. He was previously a director at Great Bear Resources, which was acquired for $1.8 billion.

Janet O’Donnell (CFO) – A financial executive with 30+ years in mining, Janet was formerly CFO at Castle Gold, where she managed financial operations for the El Castillo mine before its sale to Argonaut Gold.

Federico Alvarez (COO) – With 40+ years of experience in Mexican mining, Federico previously served as VP Operations for Argonaut Gold and Castle Gold, overseeing mine development and permitting.

Miguel Cardona (VP Exploration) – A geological engineer with 35 years in mineral exploration, Miguel played a key role in expanding the El Castillo gold resource threefold.

Minera Alamos’ technical and financial expertise, combined with its hands-on approach to mine development, provides a strong foundation for executing its growth strategy.

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Minera Alamos is executing a multi-mine growth strategy designed to minimize capital risk while rapidly advancing towards mid-tier gold production. The company follows a staged development approach, where cash flow from producing assets funds the construction of new projects, reducing dilution and financial risk.

1. Santana Mine (Operational) – The company’s first gold mine, which provides near-term cash flow to support future growth.
2. Cerro de Oro (Development-Ready) – Fully funded with an $25M financing package, this low-cost, 8-year mine is expected to significantly increase production.
3. La Fortuna (Permitted & Awaiting Construction Decision) – A high-grade gold project with robust economics and a low capital requirement.

Beyond its existing gold portfolio, Minera Alamos continues to evaluate expansion opportunities through exploration and potential acquisitions. The company also holds copper assets, which could be spun out into a separate entity, unlocking additional shareholder value.

By leveraging low-cost operations, disciplined capital management, and strategic project sequencing, Minera Alamos is positioned to become a leading mid-tier gold producer in North America.

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Minera Alamos maintains a strong financial position with a low capital intensity approach to mine development. The company prioritizes cost-efficient construction and staged project execution, minimizing upfront capital expenditures while maximizing return on investment.

As of 2025, Minera Alamos has a market capitalization of approximately C$190 million and a strong working capital position of C$15.5 million. The company has successfully secured a US$25 million financing package to fund the construction of the Cerro de Oro project, demonstrating its ability to raise capital without significant shareholder dilution.

Minera Alamos’ low all-in sustaining costs (AISC) and disciplined financial management position it among the lowest-cost gold developers in the sector. With scalable operations and a pipeline of advanced-stage assets, the company is well-prepared to transition into a mid-tier gold producer while delivering sustainable shareholder value.

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Minera Alamos Inc. is on track to becoming a leading mid-tier gold producer, leveraging its low-cost, high-margin project portfolio and a proven mine-building team. With one mine in production (Santana), another fully funded and awaiting final permits (Cerro de Oro), and a third permitted and development-ready (La Fortuna), the company has a clear pathway to significant production growth.

By focusing on staged development, financial discipline, and operational efficiency, Minera Alamos minimizes risk while maximizing shareholder value. Its low capital intensity and heap leach expertise position it among the most cost-effective gold producers in North America.

As global demand for gold remains strong, Minera Alamos is well-positioned to benefit from rising commodity prices while maintaining a sustainable, responsible approach to mining. With a strong management team, de-risked assets, and a well-funded growth strategy, the company presents an attractive investment opportunity for those seeking exposure to a rapidly growing gold producer.

For investors looking for a low-risk, high-potential gold development company, Minera Alamos offers a compelling opportunity with a clear path to success.

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