Minera Alamos Announces Closing of $6 Million Financing with Osisko Gold Royalties

Toronto, January 13, 2020 - Minera Alamos Inc. (TSXV: MAI) ("Minera" or the "Company") is pleased to announce it has closed the private placement announced on December 6^th, 2019 consisting of 30,000,000 common shares of the Company (the "Common Shares") at a price of $0.20 per Common Share for aggregate gross proceeds of $6,000,000 (the "Offering") with Osisko Gold Royalties Ltd. ("Osisko"). As a result of the Offering, Osisko has increased its shareholdings of the Company's Common Shares from 12.3% to 18.7%.

Minera Alamos intends to use the net proceeds of the Offering as a component of the capital funding required for building the Company's Santana gold mine in Sonora, Mexico.

No finder's fees were paid in conjunction with the Offering.

For Further Information Please Contact:

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

About Minera Alamos Inc.

Minera Alamos is an advanced-stage exploration and development company with a portfolio of high-quality Mexican development 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).

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

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