Alamos Gold Boosts Reserves 32% to 15.9Moz and $97M Exploration Budget
Alamos Gold’s global proven and probable mineral reserves rose 32% to 15.9 million ounces, with grades up 5% to 1.87 g/t driven by Island Gold’s 125% reserve increase to 5.1 million ounces at 10.61 g/t. The company allocated a record $97 million exploration budget for 2026, up 37% from 2025.
1. Reserve Growth Highlights
Alamos Gold’s proven and probable mineral reserves increased 32% to 15.9 million ounces with average grade rising 5% to 1.87 g/t. Island Gold’s reserves more than doubled by 125% to 5.1 million ounces at 10.61 g/t, while Magino saw a 56% increase to 3.1 million ounces at 0.86 g/t.
2. Resource Conversion and Grades
Measured and indicated mineral resources rose 6% to 5.5 million ounces at 1.44 g/t, driven by additions at Young-Davidson, Lynn Lake and Mulatos. Inferred resources fell 63% to 2.0 million ounces at 1.82 g/t due to successful conversion at Island Gold and Magino, under gold price assumptions of $1,800 for reserves and $2,000 for resources.
3. Exploration Budget and Outlook
The company approved a record $97 million exploration budget for 2026, up 37% from 2025, targeting expanded programs at Island Gold District, Young-Davidson and Lynn Lake. Management expects this investment to underpin further reserve and resource growth over the coming years.