Tuesday February 17, 2009

Alamos Gold Inc. Completes Cdn$83,280,000 Financing

Toronto, Ontario ? Alamos Gold Inc. (?Alamos? or the ?Company?) is pleased to announce that it has closed its previously announced bought deal equity financing, including Cdn$8,080,000 of the Underwriters? over-allotment option, for aggregate gross proceeds to Alamos of Cdn$83,280,000. A syndicate of underwriters, led by BMO Nesbitt Burns Inc. and including GMP Securities L.P., RBC Dominion Securities Inc., Macquarie Capital Markets Canada Ltd., TD Securities Inc., CIBC World Markets Inc., UBS Securities Canada Inc., Fraser Mackenzie Limited, Genuity Capital Markets, Haywood Securities Inc., Paradigm Capital Inc. and Salman Partners Inc. purchased an aggregate of 10,410,000 common shares of Alamos at a purchase price of Cdn.$8.00 per share. The total number of common shares purchased included 1,010,000 common shares issued upon partial exercise of the underwriters? over-allotment option.

The net proceeds of the financing will be used by the Company to provide it with the financial flexibility to pursue growth opportunities, for working capital and general corporate purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Alamos

Alamos is a Canadian-based gold producer with operations, exploration and development activities in Mexico. The Company employs approximately 400 people in Mexico and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighbouring communities. Alamos is fully leveraged to increases in gold prices. Alamos? common shares are traded on the Toronto Stock Exchange under the symbol ?AGI?.

FOR FURTHER INFORMATION, PLEASE CONTACT:

John A. McCluskey

President and Chief Executive Officer

Tel: 416-368-9932

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Note

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release may include ?forward-looking statements?. All statements other than statements of historical fact included in this release, including without limitation statements regarding forecast gold production, gold grades, recoveries, waste-to- ore ratios, total cash costs, potential mineralization and reserves, exploration results, and future plans and objectives of Alamos, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as ?expects? or ?does not expect?, ?is expected?, ?anticipates? or ?does not anticipate?, ?plans?, ?estimates? or ?intends?, or stating that certain actions, events or results ?may?, ?could?, ?would?, ?might? or ?will? be taken, occur or be achieved) are not statements of historical fact and may be ?forward- looking statements.? Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements.

There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Alamos? expectations include, among others, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold and silver, as well as those factors discussed in the section entitled ?Risk Factors? in Alamos? Annual Information Form. Although Alamos has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.