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Positive Results from Metallurgical Tests on Sulfide Mineralization from Mulatos Gold Project, Sonora, Mexico

8/11/2003

Vancouver, British Columbia -- Alamos Gold Inc. is pleased to announce that metallurgical test work carried out by Resource Development Inc. (RDi) on sulfide-rich gold mineralization from the Company's Mulatos Gold Project indicates a maximum of 87.5 % of the total gold in sulfide mineralization can be leached with cyanide. This test work confirms that Mulatos ore is not refractory due to sulfides and that previous projected heap leach recoveries can be increased with finer crushing and/or extending leach times. The heap leach recovery of finer crushed sulfide ore and the economics of achieving this recovery will be determined with column and bulk sample leaching tests, and engineering currently underway.

Alamos submitted 11 samples of sulfide mineralization from 2 tunnels in the heart of the orebody to RDi for compositing and testing. The results are as follows. The composite sample assayed 1.89 g/t gold, 4.26 % sulfur and 120 ppm copper. Hot cyanide shake tests performed on the pulverized composite sulfide sample indicated 87.5% of the gold was cyanide soluble. Bottle roll tests were performed on the composite sample at a grind of 80 % minus 200 mesh. Cyanidation of the finely ground ore for 72 hours resulted in a gold extraction of 87 %. The extraction vs. leach time curve indicated gold recovery was not complete.

These tests indicate the sulfide ore is not refractory, but leaches at a slow rate. These results in conjunction with cyanide soluble data indicate the finer the particle size the faster it leaches and the more it leaches. This is new, positive data. The ultimate gold deportation from sulfide ore was not known, but it was previously reported that leaching 18 mm (3/4 inch) sulfide ore in a column for 525 days resulted in a gold extraction of 71.5 % compared to 48.9 % gold extraction for 12 mm (1/2 inch) sulfide ore leached in a column for 28 days. These test results were a strong indication to Alamos that sulfide ore gold recoveries might be increased by crushing finer and/or leaching longer. Alamos has now proven this to be so.

Alamos recognized the potential of raising the overall heap leach recovery of the orebody by crushing the ore finer and conducted preliminary field column tests in 2002 on fine crushed (- 1/8 inch) sulfide ores and obtained between 85 and 88% recovery.

With these encouraging results, Alamos contracted RDi to perform an independent review of the previous metallurgical test work on the Mulatos Project. Alamos and RDi developed a series of metallurgical test programs to obtain the data to raise gold recovery. The test programs consist of laboratory, column, crushing and bulk heap leach tests.

The next phase of testing, column tests on bulk samples from 2 tunnels, are in progress at Metcon Research Inc. (Metcon) in Tucson, Arizona. Fine crushing tests with a high pressure grinding roll (HPGR) crusher have been completed on a similar bulk sample at Polysius Corp. in Germany. These samples are being shipped to Metcon for testing to determine if there is a more favorable recovery response and economics from HPGR crushed ores. Alamos personnel are preparing to mine a 2,000 tonne sample from the tunnels for a bulk heap leach test at the mine site in Sonora, Mexico. Alamos will do trade-off studies with the results from these tests. The more favorable economics of crushing ores finer and/or leaching longer to raise overall heap leach recovery will be incorporated in the new Mulatos Feasibility Study that is currently in progress at M3 Engineering in Tucson.

Alamos Gold is a precious metals exploration and development company with its Salamandra exploration properties and its Mulatos project, an advanced gold deposit currently in the bankable feasibility phase of development.

ON BEHALF OF THE BOARD
For further information, please contact:
/s/ Chester F. Millar
Chester F. Millar
President and Chairman of the Board

John A. McCluskey
Chief Executive Officer
Tel: 416-925-4880
Fax: 416-925-2264
Email: john.mccluskey@sympatico.ca
Website: www.alamosgold.com


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

Safe Harbor Statement under the United States Private Securities Litigation Act of 1995: Statements in this release that are forward-looking, including statements relating to the future recovery of the Mulatos Project, are subject to various risks and uncertainties concerning the specific factors identified about in the Company's periodic filings with the Ontario Securities Commission and the U. S. Securities Exchange Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.