Copperstone Gold Mine Development Plans Underway

TORONTO – Minera Alamos Inc. reported development plans are underway for its Copperstone Mine gold project located in Western Arizona, along the Walker Lane Belt near the town of Quartzsite. With final amendments to the existing Mine Plan of Operations (MPO) submitted in final form in July 2025 and with approvals expected before year end, the Company is concurrently preparing an updated technical study that would allow for a positive Board decision for a full restart of the Copperstone project.
The current NI 43-101 compliant technical report – Preliminary Economic Assessment (PEA) demonstrates robust project economics, with an after-tax Net Present Value (NPV) of US$66 million at a gold price of US$1,800/oz and over US$200 million at US$2,800/oz. The after-tax Internal Rate of Return (IRR) ranges from 53.6% to 152.7% across these pricing scenarios. The underground mining Resource Estimate for the Copperstone project (US$1,800/oz gold price) contains 300,000 ounces of Measured and Indicated gold resources (1.2 Mt at 7.7 g/t) and an additional 197,000 oz of Inferred gold resources (0.97 Mt at 6.3 g/t).
Engineering activities have been ramped up to optimize plans for the mine restart and process plant installation. An updated technical study is planned for release in the first half of 2026 to demonstrate the positive impact of these efforts which, when combined with the current elevated gold prices, will allow the Board of Directors to make a production decision soon after.
Under the authorization of the existing permits, site development activities can be initiated in parallel with the pending MPO amendment to “fast-track” the project restart. An inexpensive transfer of existing process plant equipment currently owned by the Company to the Copperstone site is underway and is expected to be largely complete prior to year end 2025 so work can begin on its refurbishment and installation. An extensive review of existing exploration data has concluded that the gold mineralization at the Copperstone project appears to be typical of an iron oxide-copper-gold (IOCG) deposit hosted by a shallow dipping thrust fault zone. The implications of the new geological interpretation and evaluation are that the mineralized underground mining zones drilled previously may continue to depths significantly beyond what was previously mined. Further, potential shallow, open pit accessible gold mineralization also occurs in areas that outcrop immediately adjacent to the historic open pit operations which is reported to have produced over 500,000 ounces of gold from the late 1980s through the early 1990s.
Darren Koningen, CEO, said, “The impact of current gold prices on the overall economics of the Copperstone mine cannot be overstated. While the Company awaits the receipt of the final approvals for the Copperstone project our technical teams have been extremely busy planning for the fast-track restart of operations while gaining a better understanding of the significant resource upside potential for the entire project area. The Company is concurrently preparing an updated technical report to quantify these impacts on the overall restart plans while also ensuring that the rebuilt processing facilities incorporate maximum operating flexibility to accommodate future growth for the project. Combining this work with the new geological insights offers an exciting opportunity for the Copperstone mine to significantly increase the Company’s gold production and free cash flow profile well beyond the previously published PEA expectations.”