smelter return royalty and refining and transportation costs.

We will soon complete an Environmental Impact Assessment for each project and a pre-feasibility study to more accurately define the project economics. Additionally, several opportunities to improve project economics have already been identified. Collectively, the aforementioned opportunities could reduce the total project initial and sustaining capital by 26%.

Though the primary objective of the in-fill and extension drilling program is to upgrade the inferred mineral resources to the measured and indicated categories, Alamos also believes that there is potential for mineral resource expansion at the Ağı Dağı and Kirazlı deposits, just as there is proving to be at our Mulatos site. Additional mineral resources could potentially extend mine-life and improve project economics – again, a page torn from our Mulatos success story.

Production is planned to commence at Kirazlı in the first quarter of 2013, followed by Aği Daği in the first quarter of 2014. In addition to expanding the limits of the known mineral deposits, there are several high-priority exploration targets in close proximity to the established mineral resources at Ağı Dağı and Kirazlı.

At Alamos Gold, we talk about sensible, sustainable growth.  There is no better illustration of this philosophy than our well-planned, cautiously executed expansion into Turkey.

Technical Report

Ağı Dağı & Kirazlı Preliminary Economic Assessment
View this Report (Link to Download PDF)