Minera Alamos Reports Sale of Prime Mining Corp. Shares

Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - April 30, 2020) - Minera Alamos Inc. (TSXV: MAI) ("Minera" or the "Company") announces that is has disposed of 3,000,000 common shares in the capital of Prime Mining Corp. ("Prime Mining") for gross proceeds of $1,500,300 and 3,350,000 warrants to purchase common shares of Prime Mining for gross proceeds of $167,500.

Immediately prior to the disposition, Minera owned 6,090,000 common shares, representing 10.3% of the outstanding common shares of Prime Mining. Following the disposition, Minera retains ownership of 3,090,000 common shares, representing 5.2% of the outstanding common shares of Prime Mining. In addition, Minera has disposed of all warrants of Prime Mining that it previously owned or controlled.

Minera does not presently intend to make further investments or divestitures in Prime Mining. However, Minera may in future take such actions in respect of its holdings in Prime Mining as it may deem appropriate based on its assessment of market conditions and any other conditions it considers relevant at the time, including the purchase of additional common shares through open market or privately negotiated transactions or the sale of all or a portion of its holdings in the open market or in privately negotiated transactions to one or more purchases, subject in each case to applicable securities laws.

A copy of the related early warning report filed in connection with the disposition will be available on the SEDAR website (www.sedar.com) under Prime Mining's profile.

For Further Information Please Contact:

Minera Alamos Inc.

Doug Ramshaw, President
Tel: 604-600-4423
Email: dramshaw@mineraalamos.com
Website: www.mineraalamos.com

Victoria Vargas de Szarzynski, VP Investor Relations
Tel: 289-242-3599
Email: vvargas@mineraalamos.com

About Minera Alamos Inc.:

Minera Alamos is an development stage company with a portfolio of high-quality Mexican assets, including the La Fortuna open-pit gold project in Durango (positive PEA completed and change of land use permit granted) and the Santana open-pit heap-leach development project in Sonora (permits received and construction currently underway).

The Company's strategy is to develop low capex assets while expanding the project resources and pursue complementary strategic acquisitions.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55246

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