Latest news with #MineraAlamos
Globe and Mail
01-05-2025
- Business
- Globe and Mail
Minera Alamos Announces 2025 Outlook and 2024 Year End Financials
Kevin Small Appointed EVP Operations for Copperstone Development Toronto, Ontario--(Newsfile Corp. - May 1, 2025) - Minera Alamos Inc. (TSXV: MAI) (the "Company" or "Minera Alamos") is pleased to provide selected financial and operational highlights from its 2024 Annual Financial Statements and MD&A filed on Sedarplus on April 30 th, 2025. "The benefits of the new operating plan at Santana initiated in the middle of last year began to show with the improvement in mine operating performance in the last quarter of 2024. " stated Darren Koningen, CEO of Minera Alamos. "While there are signs of an improving permitting landscape in Mexico for 2025, the Company is aggressively advancing activities and plans for its newly acquired Copperstone mine in Arizona, US, providing us with a path to a meaningful increase in gold production in 2026 as we await paperwork for our next planned gold mine at Cerro de Oro. We are currently reviewing a number of indicative term sheets connected to project finance for Copperstone and hope to finalize the complete financing package in the coming months. In the meantime, we are expanding the technical team with the appointment of Kevin Small, as EVP Operations and are rapidly advancing engineering plans for the restart of the Copperstone project operations." 2025 Operational Outlook At the Santana gold mine, the Company anticipates increased gold production in 2025 over 2024 and 2023 levels as the mining and stacking activities initiated as part of the re-worked operating plan in 2024 begin to positively impact operating performance. As part of trade off studies completed at the beginning of the year, the Company focused on maximizing mining and stacking activities in Q1 2025 reducing pad availability for leaching operations. During preparation and construction of new pad areas based on the receipt of certain state level permit amendments (announced previously), the site operations can be temporarily redirected to increased gold leaching of previously stacked material until construction activities are complete. At the newly acquired Copperstone mine project engineering work continues to be ramped up. This includes optimization of the underground mine restart plans/schedule along with the completion of basis process plant design details to be submitted in the coming weeks as part of an adjustment to the existing Plan of Operations for the site which is anticipated to be approved towards the end of the year (2025). In addition, final preparations are being completed to transfer the existing used process plant equipment previously acquired by Minera Alamos to the Copperstone site so that refurbishment activities can be initiated in advance of their installation at site. Kevin Small will be formally joining the management group at Minera Alamos under the role of Executive Vice President of Mining Operations. Kevin is a Mining Engineer with 35 years in the industry and extensive involvement with the development and operation of underground mining projects. He was the former President and CEO of Jerritt Canyon Gold and an ex Director of Mining Operations at the Beta Hunt mine (Karora Resources) and has already been actively involved in the engineering work underway for the Company's Copperstone mine. Minera has received several indicative term sheets related to the project finance for the Copperstone project with due diligence ongoing. The Company expects to have a complete project finance package for the project in place early in the second half of 2025. The Project Economic Analysis ("PEA") for the Copperstone project was re-issued by Minera Alamos in February 2025. The report shows a base case NPV of US$66M at US$1800/oz gold (53.6% IRR) which rises to US$200M at US$2800/oz gold (152.7% IRR). To view an enhanced version of this graphic, please visit: At the Cerro de Oro gold project permitting process continues with the Company continuing to provide support for any follow-up requests from the permit authorities. It is expected that increased visibility should become available in the coming months as to the plans/timelines from the new government authorities in Mexico for issuing permits relating to mining activities. Engineering work continues to progress for Cerro de Oro in order to advance pre-development activities to coincide with the ultimate receipt of permits and a construction decision for the project. Included in 2025 will be further metallurgical optimization studies, detailed engineering design and additional exploration drilling aimed at filling-in and potentially expanding the areas of known gold mineralization (as outlined in Cerro de Oro Preliminary Economic Analysis (PEA) report dated October 3 rd, 2022) To view an enhanced version of this graphic, please visit: Operational Highlights (2024) At Santana, the Company completed plans to optimize the use of existing installed leach pad capacity to boost production prior to a partial pad expansion planned for mid year in 2025. These plans outlined approximately 25,000 oz of gold mineralization that could be mined and stacked over period including 2025 and around a scheduled partial leach pad expansion. Short-term mine plans (including access roads) were reworked to fall within existing authorized permit boundaries and mining activities at site started to ramp up later in 2024 following a temporary but significant reduction in mining activities in the prior year. The Company awaits a permit amendment for the long term expansion of the overall project operations. Total gold sold in 2024 was 2,806 ounces from the Santana Project of which 1,393 ounces (approximately 50%) was sold in Q4 as the benefits of the new mine plan led to increased leaching activity; with inventory on the leach pad of an additional recoverable 10,226 ounces as at December 31 st, 2024. The Suaqui Verde copper project was acquired and combined with the Company's existing Los Verdes and Potreritos copper assets in an existing Mexican subsidiary Cobre 4H de Sonora de Mexico (Minera will retain 50% ownership). Suaqui Verde is a significant copper porphyry deposit that was drilled previously by a number of groups including Phelps Dodge. The acquisition significantly compliments the Company's existing copper projects and creates the potential to form a regional copper production "hub" in southern Sonora. The Company is continuing to advance discussions regarding additional concession areas that would support advancing the copper portfolio either within the Company or as a standalone copper development company, In August 2024, the final US$1,000,000 property option payment was made resulting in full 100% ownership of the Cerro de Oro gold project that remains royalty free. In October 2024, the Company announced the acquisition of Sabre Gold Mines Corp. and its flagship Copperstone gold project, a permitted, brownfields, gold mining opportunity that can be fast tracked back into production with low capital requirements. The acquisition via Plan of Arrangement was completed in February 2025. Selected Financial Data: The following selected financial data is summarized from the Company's audited Financial Statements and related notes thereto (the "Annual Financial Statements') for the year ended December 31st, 2024, and the Management's Discussion and Analysis ("MD&A") for the year ended December 31st, 2024 (all numbers in Canadian dollars unless otherwise stated). A copy of the Financial Statements and MD&A is available on Sedarplus at Operationally, revenues (not factoring deferred revenue) totalled $8,915,799 (of which $4,955,977 was in Q4) with cost of goods sold and depletion amounting to $7,216,689 ($2,893,809 Q4) for a gross mine profit of $1,699,110 ($2,062,168 Q4). Unit costs remain temporarily higher due to the fixed costs of operations being spread over fewer ounces but still remained modestly positive. In addition, deferred revenue as at December 31, 2024 of $1,861,296 on a further 500 ounces of gold will be recorded as revenue in Q1 2025. The Company recorded net income of $1,693,960 or $0.003/share in Q4. For the full year the Company recorded a net loss of $17,567,930 or $0.038/share compared to a net loss of $2,855,552 in 2023. The change in the year over year net loss includes a non cash unrealized foreign exchange loss ($9,179,497) in the current year as compared to a gain of $7,319,954 in 2023 due the weakening of the Mexican Pesos against the Canadian Dollar.. The unrealized (loss) or gain is associated with the Company's historical accumulated inter-company funding of its operating Mexican subsidiaries which is likely to be repaid in the foreseeable future. The Mexican subsidiaries revalue the Mexican pesos at the end of each period generating a non-cash foreign exchange (loss) or gain. In addition, the net loss was exacerbated by the temporary reduction in gold production in the first three quarters of 2024 as the Company shifted Santana operations to a new mine operating plan in June as well as the final option payment for Cerro de Oro and an increase in costs which were associated with the Company's ongoing Corporate development activities. Cash and Cash Equivalents of $11,760,355 as at December 31 st, 2024 compared to $13,754,272 as at December 31 st, 2023. Working capital as of December 31 st, 2024 stood at $15,511,353 compared to $19,968,100 as at December 31 st, 2023. Cautionary Statement The Company made its production decision at the Santana gold mine without having completed a feasibility study demonstrating economic and technical viability. As such, there may be increased uncertainty of achieving planned production levels, estimated recovery of gold, the costs associated with such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. Mr. Darren Koningen, P. Eng., Minera Alamos' CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101. About Minera Alamos Inc. Minera Alamos is a gold production and development Company. The Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach mine in Sonora that is currently going through the start-up of operations at the new Nicho Main deposit. The 100%-owned Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical work completed and the proposed mining project is currently being guided through the permitting process by the Company's permitting consultants. The La Fortuna open pit gold project in Durango (100%-owned) has a positive, robust preliminary economic assessment (PEA) completed, and the main Federal permits are in place. Minera Alamos is built around its operating team that together brought three open pit heap leach gold mines into successful production in Mexico over the last 14 years. Minera Alamos also wholly-owns the Copperstone mine and associated infrastructure in La Paz Country, Arizona, an advanced development asset with a permitted plan of operations that can be developed in parallel with planned project advancements in Mexico. The Company's strategy is to develop very low capex assets while expanding the projects' resources and continuing to pursue complementary strategic acquisitions. Caution Regarding Forward-Looking Statements This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain "forward-looking statements", which often, but not always, can be identified by the use of words such as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements with respect to Minera Alamos' future plans with respect to the Projects, objectives or goals, to the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release of a resource and reserve estimate on the projects. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos' mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos' financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos' activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos' forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera Alamos' forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws. The Company does not have a feasibility study of mineral reserves, demonstrating economic and technical viability for the Santana project, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Yahoo
13-03-2025
- Business
- Yahoo
Star Royalties Highlights Copperstone Project Economics and Stream Valuation
TORONTO, ON / / March 13, 2025 / Star Royalties Ltd. ("Star Royalties", or the "Company") (TSXV:STRR)(OTCQX:STRFF) is pleased to highlight the reissuance of the Preliminary Economic Assessment ("PEA") on the Copperstone Gold Mine ("Copperstone") by Minera Alamos Inc. ("Minera Alamos") (TSXV: MAI, OTCQX: MAIFF). This reissued PEA does not incorporate ongoing work and trade-off studies currently being evaluated by Minera Alamos but does reflect a reduction in the Net Smelter Royalty ("NSR") burden on Copperstone as a 1.5% NSR was extinguished since the first publication of the PEA by Sabre Gold Mines Corp. in 2023. Furthermore, given the significant rise in the gold price over the last 18 months, the reissued PEA includes a gold price sensitivity analysis range of $1,000/oz to $3,000/oz compared to the original PEA's gold price sensitivity analysis range of $1,600/oz to $2,000/oz. All amounts are in U.S. dollars, unless otherwise indicated. Highlights Robust Copperstone economics: Copperstone is expected to generate $298 million in after-tax net cash flow, have an after-tax NPV5% of $227 million, and generate an after-tax IRR of 171% as per the reissued PEA and assuming a gold price of $3,000/oz. Enhanced stream valuation: Star Royalties' stream is expected to generate approximately $4.6 million in pre-tax cash flow during Copperstone's first year of production and $20.5 million in life-of-mine pre-tax cash flow, prior to any mine-life extension from resource conversion and exploration success, as per the reissued PEA and assuming a gold price of $3,000/oz. Opportunities to further enhance Copperstone's value: Minera Alamos has identified several opportunities to enhance value at Copperstone that will be further evaluated during the development phase. These opportunities include additional drilling in two priority areas with the goal of expanding mineral resources, investigating if previous marginal grade material can be added to production stopes given improved gold prices, evaluating opportunities to increase plant throughput from potential increases in mining rates and from potential resource expansion, as well as evaluating options for leveraging used equipment to reduce initial capital expenditures and lead time. Exploration Potential at Copperstone: Minera Alamos has also identified several exploration opportunities to further enhance value at Copperstone, including drill testing for the presence of the Footwall Zone at depth and underneath the D Zone, continued drilling to define and expand the Southwest Zone located 760m southwest of the Copperstone pit, following up on the historic drill hole CS-266 that intercepted 3.4 g/t gold over 3.0m approximately 200m southwest of the Copperstone pit, as well as following up on historic drill hole 06CS-20 that intercepted 20.5 g/t gold over 1.5m approximately 900m southwest of the Copperstone pit. 2025 development outlook for Copperstone: With Minera Alamos advancing the low-capital intensity Copperstone to production in the first half of 2026, upcoming catalysts this year from Minera Alamos are anticipated to include securing the remaining financing required to bring Copperstone into production, rehabilitating and installing process plant equipment at Copperstone, submitting final permitting documents for the addition of leaching facilities to the existing processing infrastructure at site, completing process plant installation at site, as well as receiving all necessary documentation to begin operations. Equity ownership of Minera Alamos: The Company owns approximately 9.6 million shares of Minera Alamos, valued at C$3.5 million as per Minera Alamos' latest closing share price. In addition to Copperstone's upcoming development milestones, Star Royalties anticipates several additional catalysts in 2025 that could positively re-rate its Minera Alamos equity ownership, including receipt of final permits and a construction decision for their Cerro De Oro development project, Phase 2 pad construction and production ramp-up at their Santana gold mine, as well as the potential spinout and public listing of Minera Alamos' copper development projects. Alex Pernin, Chief Executive Officer of Star Royalties, commented: "We are encouraged by Copperstone's robust economics and our stream's enhanced value at today's gold prices. Simply based on this reissued PEA and assuming a gold price of $3,000/oz, our stream is expected to generate pre-tax cash flow in only the first year of production equivalent to over a third of our current market capitalization. Over Copperstone's currently stated life-of-mine and prior to any production increases or mine-life extension, the stream is expected to generate pre-tax cash flow of close to twice our current market capitalization. We also note that Copperstone's current mine plan only incorporates half of its high-grade resource. Star Royalties is expected to transition to positive free cash flow with Copperstone commencing production in the first half of 2026, complementing existing cash flow from our other producing royalties at Elk Gold in Canada and Keysbrook in Australia. This would represent a significant milestone for the Company and should unlock meaningful value for our investment and for our shareholders. In addition to Copperstone's development plan, as Minera Alamos derisks its remaining portfolio and advances its pipeline, we continue to see meaningful re-rating potential for the 9.6 million Minera Alamos shares we now own. For instance, Copperstone's after-tax NPV5% of $227 million at a gold price of $3,000/oz by itself exceeds Minera Alamos' market capitalization. Overall, we expect several positive catalysts in 2025 to unlock the significant value present in our mining royalty portfolio and close the valuation gap implied by our share price." CONTACT INFORMATION For more information, please visit our website at or contact: Alex Pernin, Dmitry Kushnir, CFA Chief Executive Officer and Director VP, Investor Relations and Strategy apernin@ dkushnir@ +1 647 494 5001 +1 647 494 5088 About Star Royalties Ltd. Star Royalties Ltd. is a precious metals and carbon credit royalty and streaming company. The Company's objective is to provide wealth creation by originating accretive transactions with superior alignment to both counterparties and shareholders. The Company offers investors exposure to precious metals as well as carbon credit prices through its pure-green joint venture, Green Star Royalties Ltd., having innovated the world's first carbon credit royalties. CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION Certain statements in this news release may constitute "forward-looking statements", including those regarding future market conditions for metals and minerals, future valuation of Minera Alamos, development and production of Copperstone, permitting and construction scheduling of Coppertone, future location of Copperstone grinding and flotation equipment, expected future cash flow from the stream agreement, the Company's position in Copperstone's future gold production, the net cash position of the Company, and future capital raising opportunities are statements that address or discuss activities, events or developments that the Company expects or anticipates may occur in the future. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "will", "believes", "intends" "should", "could", "may" and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements of Star Royalties to be materially different from future results, performances or achievements expressed or implied by such statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results, performances or achievements to differ materially from such forward-looking statements, including, without limitation, changes in business plans and strategies, market and capital finance conditions, ongoing market disruptions caused by the Ukraine and Russian conflict, metal and mineral commodity price volatility, discrepancies between actual and estimated production and test results, mineral reserves and resources and metallurgical recoveries, mining operation and development risks relating to the parties which produce the metals and minerals Star Royalties will purchase or from which it will receive royalty payments, risks inherent to royalty companies, title and permitting matters, activities by governmental authorities, currency fluctuations, the global, federal and provincial social and economic climate in particular with respect to addressing and reducing global warming, natural disasters and global pandemics, dilution, risk inherent to any capital financing transactions. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and the Company undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law. SOURCE: Star Royalties Ltd. View the original press release on ACCESS Newswire Sign in to access your portfolio
Yahoo
05-03-2025
- Business
- Yahoo
Minera Alamos Announces Results of Annual and Special General Meeting
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - March 5, 2025) - Minera Alamos Inc. (TSXV: MAI) (the "Company" or "Minera Alamos") is pleased to announce the results of voting at its Annual & Special General Meeting of Shareholders ("AGM") held Friday, February 28th, 2025 in Toronto, Canada. Shareholders voted overwhelmingly in favour of all items put forward by the Board of Directors and Management. All five of the individuals nominated for the board of directors, namely Darren Koningen, Doug Ramshaw, Bruce Durham, Ruben Padilla and Kevin Small received the support of the Company's shareholders to continue in their roles for the forthcoming year. Shareholders also voted in favour of: Ratifying the appointment of McGovern Hurley LLP as Auditors of the Company for the ensuing year and authorizing directors to fix the remunerations of the auditors; and Ratifying and approving the adoption of the Omnibus Incentive Plan. A total of 210,743,111 Minera Alamos common shares were voted, representing 42.07% of total shares issued and outstanding as at the record date of the meeting. For Further Information Please Contact: Minera Alamos Inc. Doug Ramshaw, President Tel: 604-600-4423Email: dramshaw@ Victoria Vargas de Szarzynski, VP Investor RelationsTel: 289-242-3599Email: vvargas@ Website: About Minera Alamos Inc. Minera Alamos is a gold production and development Company. The Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach mine in Sonora that is currently going through the start-up of operations at the new Nicho Main deposit. The 100%-owned Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical work completed and the proposed mining project is currently being guided through the permitting process by the Company's permitting consultants. The La Fortuna open pit gold project in Durango (100%-owned) has a positive, robust preliminary economic assessment (PEA) completed, and the main Federal permits are in place. Minera Alamos is built around its operating team that together brought three open pit heap leach gold mines into successful production in Mexico over the last 14 years. Minera Alamos also wholly-owns the Copperstone mine and associated infrastructure in La Paz Country, Arizona, an advanced development asset with a permitted plan of operations that can be developed in parallel with planned project advancements in Mexico. The Company's strategy is to develop very low capex assets while expanding the projects' resources and continuing to pursue complementary strategic acquisitions. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
06-02-2025
- Business
- Yahoo
Minera Alamos Announces Closing of Sabre Gold Acquisition
Copperstone Mine Development Plans and New Team Additions Toronto, Ontario--(Newsfile Corp. - February 6, 2025) - Minera Alamos Inc. (TSXV: MAI) (the "Company" or "Minera Alamos") and Sabre Gold Mines Corp. ("Sabre") (TSX: SGLD; OTCQB: SGLDF) are pleased to announce the closing of the previously announced acquisition by Minera Alamos of Sabre and its flagship Copperstone gold project (see news release dated October 28th, 2024) (the "Transaction"). Creation of a Diversified North American Gold Producer Platform - Beyond the Santana gold mine operations (Sonora, Mexico), the addition of Copperstone (Arizona, US) helps provide visibility to a further 150koz of annual gold production in premier mining jurisdictions in North America Acquisition of Past Producing Copperstone Mine - Sabre's flagship asset produced a total of 514,000 oz of gold from 1987 to 1993. Along with existing infrastructure, the project contains significant additional resource ounces and is at advanced stage permitting for a near-term mine restart Accelerating Copperstone Back into Production - Minera Alamos' in-house mine-building expertise combined with Minera Alamos's previously acquired process plant equipment will allow for significant reductions in restart time of the Copperstone mine in this very strong gold price environment "We are excited to have closed the Sabre Transaction that provides a new development platform for our shareholders in a stable jurisdiction. The Copperstone mine provides excellent leverage to gold prices and is in keeping with our other assets in that it has robust economics at much lower and more conservative gold price scenarios." stated Doug Ramshaw, President of Minera Alamos. "Even in advance of the acquisition closing we have had discussions with various project financing groups with regard to advancing Copperstone. With a shift toward more positive sentiment on the outlook for the Mexican mining industry in 2025, this year is expected to be a very active one for the Company and we are preparing for overlapping project development work in both Mexico and Arizona." Team Minera Alamos is pleased to have added Louell Uy to our mining planning group. Louell has been an independent consultant for the last 6 years, following his work with both Teck and Rio Tinto between 2008 and 2017 in various capacities that largely centred around mine planning engineering which will be leaned on heavily both at Santana and Cerro de Oro in Mexico as well as at the newly acquired Copperstone mine. In addition, Minera Alamos has begun the process of adding team members that will be exclusively focused on the Copperstone project. Garth Wilcox will be providing additional engineering, design and construction support services as the project lead for Consultec Group. Garth previously worked with the Minera Alamos team during the successful build out of the El Castillo gold mine under the Castle Gold banner in 2008-2011. Mill Components Relocation Minera Alamos is currently reviewing transportation proposals for the movement of the processing plant (mill) equipment that is currently in storage in Val d'Or, Quebec down to the Copperstone site. A full schedule for the move is expected to be finalized later this quarter. Preliminary Economic Assessment ("PEA") Update As part of the requirements of the Securities Authorities, the previous PEA Report commissioned for Sabre titled "NI 43-101 Technical Report: Preliminary Economic Assessment for the Copperstone Project, La Paz County, Arizona, USA" by Hard Rock Consulting LLC and with an effective date of June 26, 2023, will be re-issued in Minera Alamos's name. This is expected to be filed in February 2025 and will take into account the reduced royalty load as a result of Sabre extinguishing a 1.5% NSR on the property (see Sabre news release dated November 11th 2024) and also highlight gold price sensitivity beyond the original report as a result of the movement in gold prices since it was first published. Stock Option Grant Minera Alamos has also granted 6,200,000 incentive options to new and existing employees, management, directors and consultants of the Company with an exercise price of $0.33 and a term of 5 years. In addition, 800,000 options with an exercise price of $0.60 and a term of 5 years were granted to Doug Ramshaw, President of the Company. All options vest immediately. Transaction Details Pursuant to the Transaction, each issued and outstanding common share of Sabre (the "Sabre Shares"), including each Sabre Share issued in connection with the Debt Settlement (defined below), was acquired and exchanged for 0.693 of a Minera Alamos common share (the "Minera Alamos Shares"), resulting in the issuance of 76,499,114 Minera Alamos Shares. Prior to closing, certain related party creditors of Sabre (the "Creditors") agreed to settle approximately CAD$9.5 million in principal and interest in exchange for an aggregate of 30,490,883 Sabre Shares (the "Debt Settlement"). For further details see our press release dated October 28, 2024. In addition, the Company issued an aggregate of 2,546,775 options to acquire Minera Alamos Shares ("Minera Options") in exchange for the issued and outstanding options to acquire Sabre Shares. The Minera Options have exercise prices ranging from $0.26 to $2.02 per Minera Alamos Share. Upon completion of the Transaction (including the Debt Settlement), existing Minera Alamos and Sabre shareholders will own approximately 86% and 14% of Minera Alamos, respectively. As a condition of closing, Sabre also amended its existing gold purchase and sale agreement with Star Royalties Ltd. (the "GPSA") and in connection therewith Minera Alamos has agreed to grant to Star Royalties Ltd. ("Star Royalties") security over the Sabre Shares post-closing, being consistent with the terms of the security which Star Royalties held prior to closing. Pursuant to the GPSA, Star Royalties already held security interests over substantially all of Sabre's assets, which will continue post-closing. The Sabre Shares are expected to be delisted from the Toronto Stock Exchange (the "TSX") as of the close of trading on or around February 7, 2025. Minera Alamos will now apply for Sabre to cease to be a reporting issuer under applicable Canadian securities laws. Information regarding the procedure for exchange of Sabre Shares for Minera Alamos Shares is provided in Sabre's management information circular dated December 3, 2024, related to the Sabre special meeting (the "Circular"). The Circular and accompanying letter of transmittal are available under Sabre's profile at The listing of the issued Minera Shares remains subject to the final approval of the TSX Venture Exchange. Settlement on Financial Advisory fees Minera Alamos further announces that it has agreed to settle a payable (debt) with an arms length party (who was engaged by Sabre as financial advisor on the Transaction) in the amount of $858,000 by the issuance of 3,118,800 common shares of the Company at a deemed price of $0.28 per share. The shares issuable in connection with this debt settlement shall be subject to receipt of approval of the TSX Venture Exchange and will be subject to a statutory hold period expiring four months and one day after issuance. Darren Koningen, P. Eng., Minera Alamos' CEO, has reviewed and approved the scientific and technical information regarding Minera Alamos and its projects contained in this news release. Darren Koningen is a Qualified Person within the meaning of Canadian Securities Administrator's National Instrument 43-101 ("NI 43-101"). For Further Information Please Contact: Minera Alamos Inc. Doug Ramshaw, President Tel: 604-600-4423 Email: dramshaw@ Victoria Vargas de Szarzynski, VP Investor RelationsTel: 289-242-3599Email: vvargas@ Website: Sabre Gold Mines Corp. Andrew Elinesky, CEO and PresidentTel: 416-904-2725Email: andrew@ About Minera Alamos Inc. Minera Alamos is a gold production and development Company. The Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach mine in Sonora that is currently going through the start-up of operations at the new Nicho Main deposit. The 100%-owned Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical work completed and the proposed mining project is currently being guided through the permitting process by the Company's permitting consultants. The La Fortuna open pit gold project in Durango (100%-owned) has a positive, robust preliminary economic assessment (PEA) completed, and the main Federal permits are in place. Minera Alamos is built around its operating team that together brought three open pit heap leach gold mines into successful production in Mexico over the last 14 years. Minera Alamos also wholly-owns the Copperstone mine and associated infrastructure in La Paz Country, Arizona, an advanced development asset with a permitted plan of operations that can be developed in parallel with planned project advancements in Mexico. The Company's strategy is to develop very low capex assets while expanding the projects' resources and continuing to pursue complementary strategic acquisitions. Caution Regarding Forward-Looking Information This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All information herein, other than information of historical fact, constitutes forward-looking information. Forward-looking information is frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. This information is based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management's expectations. Forward-looking information in this news release includes, but is not limited to, the delisting of the Sabre Shares from the TSX; the application for Sabre Gold to cease to be a reporting issuer in relevant jurisdictions; the successful settlement of the financial advisory fee by issue of Minera Alamos Shares; statements concerning future exploration plans at the Company's mineral projects; the Company's proposed business strategy; and the development and condition of the Company's mining assets. The forward-looking information is based on assumptions and addresses future events and conditions that, by their very nature involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos' mineral properties, and the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in forward-looking information for many reasons. Minera Alamos' financial condition and prospects could differ materially from those currently anticipated in forward-looking information for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos' activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos' forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on Minera Alamos' forward-looking information. Minera Alamos does not undertake to update any forward-looking information that may be made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws. The Company does not have a feasibility study of mineral reserves, demonstrating economic and technical viability for the Santana project, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. To view the source version of this press release, please visit Sign in to access your portfolio
