Alamos Gold reported fourth quarter production of 141,500 ounces, essentially flat with the prior quarter but below the revised guidance range of 560,000–580,000 ounces for the full year. Total production for 2025 reached 545,400 ounces, down from 567,000 ounces in 2024. The Island Gold District delivered 60,000 ounces in Q4 and 250,400 ounces for the year, underperforming the low end of its 260,000–270,000 ounce guidance. Young-Davidson produced 41,500 ounces in the quarter and 153,400 ounces for the year, slightly below its 160,000–165,000 ounce target, while the Mulatos District contributed 40,000 ounces in Q4 and 141,600 ounces for the full year, tracking within its 140,000–145,000 ounce guidance band.

The company sold 142,149 ounces of gold in the fourth quarter at an average realized price of $3,997 per ounce, generating record quarterly revenues of $568 million, inclusive of silver sales. Full‐year sales totaled 531,230 ounces at an average realized price of $3,372 per ounce, producing record annual revenues of $1.8 billion. Revenue figures were bolstered by the completion of the 2024 gold prepayment facility, which delivered the final 12,346 ounces at a prepaid price of $2,524 per ounce. Strong margin expansion from higher metal prices and operational efficiencies underpinned a robust free cash flow performance throughout 2025.

Cash and equivalents climbed to $623 million at year‐end, up from $463 million at September 30 and $327 million at December 31, 2024, reflecting continued free cash flow generation. Net debt on the credit facility was reduced by $50 million in Q4 to $200 million outstanding. The company also eliminated 50,000 ounces of legacy hedges maturing in H1 2026 by repurchasing forward sale contracts at an average effective price of $4,091 per ounce for $113.5 million, funded through $63.5 million of cash and a $50 million gold sale prepayment. Shareholder returns were bolstered by 2025 buybacks of 1.33 million shares for $38.8 million and dividends, bringing total capital returned to $81 million.

Alamos Gold will release its Island Gold District Expansion Study, updated three-year production and operating guidance, and year-end mineral reserve and resource update in February 2026. Management expects a substantial improvement in operational performance in 2026, driven by ramp-up at Island Gold following completion of rehabilitation and the P3+ Expansion. The company anticipates a clear pathway to one million ounces of annual production by the end of the decade, supported by ongoing exploration across its portfolio and optimized processing rates at Island Gold and Magino.