Mulatos Mine

Estrella Pit

M3 Engineering and Technology Company of Tucson assisted Placer Dome and Kennecott with a series of studies including a feasibility study in 1997 and an update in 2000. In August of 2003, M3 began a new bankable feasibility study for Alamos and completed a detailed feasibility study of the Estrella zone entitled “Mulatos Feasibility Study Phase I – Estrella Pit” dated June 1, 2004 (the”M3 Feasibility Study”). The M3 Feasibility Study was superseded by a technical report proposed for Alamos by M3 dated July 14, 2004 which can be obtained at www.sedar.com under Alamos’ profile.