Document:

Third Amendment to Second Amended and Restated Credit Agreement

 Exhibit 10.1 
 EXECUTION COPY 
 THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT 
 THIS THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this
“Amendment”), dated as of January 14, 2013, is by and among GENCORP INC., an Ohio corporation (the “Borrower”), the Material Domestic Subsidiaries of the Borrower party hereto (collectively, the
“Guarantors”), the Lenders (defined below) party hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION (successor by merger to Wachovia Bank, National Association), as administrative agent on behalf of the Lenders under the
Credit Agreement (as hereinafter defined) (in such capacity, the “Administrative Agent”). Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement. 

W I T N E S S E T H 
 WHEREAS, the Borrower, the Guarantors, certain banks and financial institutions from time to time party thereto (the “Lenders”) and the Administrative Agent are parties to that
certain Second Amended and Restated Credit Agreement dated as of November 18, 2011 (as amended by that certain First Amendment to Second Amended and Restated Credit Agreement dated as of May 30, 2012, that certain Second Amendment to
Second Amended and Restated Credit Agreement dated as of August 16, 2012 and as further amended, modified, extended, restated, replaced, or supplemented from time to time, the “Credit Agreement”); 

WHEREAS, the Credit Parties have requested that the Required Lenders amend certain provisions of the Credit Agreement; and

 WHEREAS, the Required Lenders are willing to make such amendments to the Credit Agreement, in accordance with and
subject to the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the agreements hereinafter
set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I 
 AMENDMENTS TO CREDIT AGREEMENT 

1.1 New Definitions. The following definitions are hereby added to Section 1.1 of the Credit Agreement in the
appropriate alphabetical order: 
 “Additional Escrow Amount” shall mean an amount equal to
(a) all accrued interest on the New Senior Notes from and including the date of issuance thereof to and including the date the Escrowed Funds are released from the Escrow Account to the extent the amount of such interest is funded into the
Escrow Account in accordance with the New Senior Notes Escrow Documents and (b) all fees and expenses that are incurred in connection with the issuance of the New Senior Notes. 

 “Eligible Escrow Investments” shall mean Government
Securities maturing no later than the Business Day preceding the termination of the agreement(s) governing the Escrow Account, (2) securities representing an interest or interests in money market funds registered under the Investment Company
Act of 1940 whose shares are registered under the Securities Act as investing exclusively in direct obligations of the United States and (3) such other short-term liquid investments in which the Escrow Funds may be invested in accordance with
the New Senior Notes Escrow Documents. 
 “Escrow Account” shall mean a deposit or securities
account at a financial institution (such institution, the “Escrow Agent”) into which the Escrowed Funds are deposited. 
 “Escrow Agent” shall have the meaning given to such term in the definition of the term “Escrow Account.” 

“Escrowed Funds” shall mean an amount, in cash or Eligible Escrow Investments, not to exceed the sum of
(a) the issue price of the New Senior Notes (after deducting initial purchase discounts and expenses), plus (b) the Additional Escrow Amount, plus (c) so long as they are retained in the Escrow Account, any income, proceeds or
products of the foregoing. 
 “New Senior Notes” shall mean (i) debt securities of the
Borrower issued to finance part of the Rocketdyne Acquisition, including the payment of any fees and expenses in connection therewith; provided, however, that if such debt securities are secured indebtedness, such debt securities must be Permitted
Second Lien Indebtedness, or (ii) debt securities of the Borrower issued in connection with a future acquisition or other transaction the proceeds of which are placed into an escrow account pending the completion of such transaction, in each
case, to the extent such Indebtedness, acquisition or other future transaction is permitted by the Credit Documents. 
 “New Senior Notes Documents” shall mean the New Senior Notes Indenture, the New Senior Notes Escrow Documents and any other documents entered into by the Borrower and any Guarantor in
connection with the New Senior Notes. 
 “New Senior Notes Escrow Documents” shall mean the
agreement(s) governing the Escrow Account and any other documents entered into in order to provide the Escrow Agent (or its designee) a Lien on the Escrowed Funds. 

“New Senior Notes Indenture” shall mean the indenture pursuant to which the New Senior Notes shall be
issued. 

  
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 1.2 Amendment to Definition of Collateral. The definition of
“Collateral” set forth in Section 1.1 of the Credit Agreement is hereby amended by adding the following proviso at the end thereof immediately prior to the period: 

“; provided, that the Collateral shall not include the Escrowed Funds, the Escrow Account or any of the New
Senior Notes Documents (it being understood that Collateral shall include substantially all of the real and personal property acquired in connection with the consummation of the Rocketdyne Acquisition).” 

1.3 Amendment to Definition of Permitted Second Lien Indebtedness. The definition of Permitted Second Lien Indebtedness is
hereby amended by adding the following before the word “such” in clause (b) thereof: 
 “except as expressly
permitted by Section 2.24,”. 
 1.4 Amendment to Section 2.24. A new Section 2.24 is hereby
added to the Credit Agreement to read as follows: 
 Section 2.24 New Senior Notes. Notwithstanding anything
to the contrary in any Credit Document, nothing contained in any Credit Document shall prevent (a) the granting or existence of any Liens on the Escrow Account, the Escrowed Funds or any New Senior Note Document or pursuant to any New Senior
Notes Escrow Document, in favor of the Escrow Agent or the trustee under the New Senior Notes Indenture (or their designees), or (b) the holding of the Escrowed Funds in the Escrow Account (it being understood, that the granting of Liens and
the holding of the Escrow Funds in the Escrow Account shall be deemed made exclusively on reliance upon this Section 2.24 and not any other exception or basket under any other provision of any Credit Document). 

1.5 Amendment to Schedules. Schedule 1.1(i) to the Credit Agreement is hereby amended and restated in its entirety
to read as set forth in Exhibit 1, attached hereto. 
 ARTICLE II 

CONDITIONS TO EFFECTIVENESS 
 2.1 Closing Conditions. This Amendment shall become effective as of the day and year set forth above (the “Amendment Effective Date”) upon satisfaction (or waiver) of the
following conditions (in each case, in form and substance reasonably acceptable to the Administrative Agent): 

(a) Executed Amendment. The Administrative Agent shall have received a copy of this Amendment duly executed by each
of the Credit Parties, the Administrative Agent and the Required Lenders. 
 (b) Fees and Expenses.
King & Spalding LLP, as counsel to the Administrative Agent, shall have received from the Borrower payment of all outstanding fees and expenses previously incurred and all reasonable fees and expenses incurred in connection with this
Amendment. 

  
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 (b) Miscellaneous. All other documents and legal matters in
connection with the transactions contemplated by this Amendment shall be reasonably satisfactory in form and substance to the Administrative Agent and its counsel. 
 ARTICLE III 
 MISCELLANEOUS 

3.1 Amended Terms. On and after the Amendment Effective Date, all references to the Credit Agreement in each of the Credit
Documents shall hereafter mean the Credit Agreement as amended by this Amendment. Except as specifically amended hereby or otherwise agreed, the Credit Agreement is hereby ratified and confirmed and shall remain in full force and effect according to
its terms. 
 3.2 Representations and Warranties of Credit Parties. Each of the Credit Parties represents and
warrants as follows: 
 (a) It has taken all necessary action to authorize the execution, delivery and
performance of this Amendment. 
 (b) This Amendment has been duly executed and delivered by such Person and
constitutes such Person’s legal, valid and binding obligation, enforceable in accordance with its terms, except as such enforceability may be subject to (i) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer,
moratorium or similar laws affecting creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity). 

(c) No consent, approval, authorization or order of, or filing, registration or qualification with, any court or
governmental authority or third party is required in connection with the execution, delivery or performance by such Person of this Amendment. 
 (d) The representations and warranties made by the Credit Parties in Article III of the Credit Agreement (i) that contain a materiality qualification shall be true and correct on and as of the date
hereof (except for those which expressly relate to an earlier date) and (ii) that do not contain a materiality qualification shall be true and correct in all material respects on the date hereof (except for those which expressly relate to an
earlier date). 
 (e) After giving effect to this Amendment, no event has occurred and is continuing which
constitutes a Default or an Event of Default. 
 (f) The Security Documents continue to create a valid security
interest in, and Lien upon, the Collateral, in favor of the Administrative Agent, for the benefit of the Lenders, which security interests and Liens are perfected in accordance with the terms of the Security Documents and prior to all Liens other
than Permitted Liens. 

  
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 (g) The Credit Party Obligations are not reduced or modified by this
Amendment and are not subject to any offsets, defenses or counterclaims. 
 3.3 Reaffirmation of Credit Party
Obligations. Each Credit Party hereby ratifies the Credit Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Credit Agreement applicable to it and (b) that it is responsible for the observance and
full performance of its respective Credit Party Obligations. 
 3.4 Credit Document. This Amendment shall
constitute a Credit Document under the terms of the Credit Agreement. 
 3.5 Expenses. The Borrower agrees to pay
all reasonable out-of-pocket costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Amendment, including without limitation the reasonable fees and expenses of the Administrative
Agent’s legal counsel. 
 3.6 Further Assurances. The Credit Parties agree to promptly take such action, upon
the request of the Administrative Agent, as is necessary to carry out the intent of this Amendment. 
 3.7
Entirety. This Amendment and the other Credit Documents embody the entire agreement among the parties hereto and supersede all prior agreements and understandings, oral or written, if any, relating to the subject matter hereof.

 3.8 Counterparts; Telecopy. This Amendment may be executed in any number of counterparts, each of which when so
executed and delivered shall be an original, but all of which shall constitute one and the same instrument. Delivery of an executed counterpart to this Amendment by telecopy or other electronic means shall be effective as an original and shall
constitute a representation that an original will be delivered. 
 3.9 No Actions, Claims, Etc. As of the date
hereof, each of the Credit Parties hereby acknowledges and confirms that it has no knowledge of any actions, causes of action, claims, demands, damages and liabilities of whatever kind or nature, in law or in equity, against the Administrative
Agent, the Lenders, or the Administrative Agent’s or the Lenders’ respective officers, employees, representatives, agents, counsel or directors arising from any action by such Persons, or failure of such Persons to act under the Credit
Agreement on or prior to the date hereof. 
 3.10 GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND SHALL
BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
 3.11 Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 

  
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 3.12 Consent to Jurisdiction; Service of Process; Waiver of Jury Trial. The
jurisdiction, service of process and waiver of jury trial provisions set forth in Sections 9.12, 9.13 and 9.16 of the Credit Agreement are hereby incorporated by reference, mutatis mutandis. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 GENCORP INC. 
 AMENDMENT TO CREDIT AGREEMENT 
 IN WITNESS WHEREOF the parties hereto have caused
this Amendment to be duly executed on the date first above written. 
  

							
	BORROWER:	 		 	GENCORP INC.,
		 		 	an Ohio corporation
				
		 		 	By:	 	 /s/ Kathleen E. Redd

		 		 	Name:	 	Kathleen E. Redd
		 		 	Title:	 	Vice President and Chief Financial Officer
			
	GUARANTORS:	 		 	AEROJET-GENERAL CORPORATION,
		 		 	an Ohio corporation
				
		 		 	By:	 	 /s/ Kathleen E. Redd

		 		 	Name:	 	Kathleen E. Redd
		 		 	Title:	 	Vice President and Chief Financial Officer

							
	ADMINISTRATIVE AGENT:	 		 	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
 as a Lender and as Administrative Agent

				
		 		 	By:	 	 /s/ Leah B. Ellis

		 		 	Name:	 	Leah B. Ellis
		 		 	Title:	 	Vice President
			
	LENDERS:	 		 	Morgan Stanley Bank, N.A.,
		 		 	as a Lender
				
		 		 	By:	 	 /s/ Nick Zangari

		 		 	Name:	 	Nick Zangari
		 		 	Title:	 	Vice President
			
		 		 	U.S. Bank National Association,
		 		 	as a Lender
				
		 		 	By:	 	 /s/ Oksana Guy

		 		 	Name:	 	Oksana Guy
		 		 	Title:	 	Vice President
			
		 		 	SunTrust Bank,
		 		 	as a Lender
				
		 		 	By:	 	 /s/ David Simpson

		 		 	Name:	 	David Simpson
		 		 	Title:	 	Vice President

 Exhibit 1 
 Schedule 1.1(i) 
 FORM OF INTERCREDITOR AGREEMENT 

INTERCREDITOR AGREEMENT 
 This INTERCREDITOR AGREEMENT (this “Agreement”), dated as of [            ] is entered into by and between WELLS
FARGO BANK, NATIONAL ASSOCIATION, a national banking association, in its capacity as agent pursuant to the First Lien Credit Agreement (as hereinafter defined) for the lenders who are party from time to time thereto and the holders of the other
Credit Party Obligations (as defined in the First Lien Credit Agreement) thereunder (in such capacity, together with its successors and assigns in such capacity, the “First Lien Agent”), and [MORGAN STANLEY SENIOR FUNDING,
INC.], in its capacity as trustee and collateral agent pursuant to the [Indenture] (as hereinafter defined) for the [Noteholders] (as hereinafter defined) (in such capacity, together with its successors and assigns in such
capacity, the “Second Lien Agent”) and is accepted and agreed to by each Notes Trustee (as defined below) from time to time party hereto. 
 WITNESSETH: 
 WHEREAS, the Borrower (as hereinafter defined), the First Lien
Lenders (as hereinafter defined), and the First Lien Agent have previously entered into a Second Amended and Restated Credit Agreement, dated as of November 18, 2011, as amended by that certain First Amendment to Second Amended and Restated
Credit Agreement dated as of May 30, 2012 and as amended by that certain Second Amendment to Second Amended and Restated Credit Agreement (the “Second Amendment”) dated as of August 16, 2012 (as the same may hereafter be
amended, modified, supplemented, extended, renewed, restated or Refinanced from time to time, the “First Lien Credit Agreement”); and 
 WHEREAS, the Borrower and [MORGAN STANLEY SENIOR FUNDING, INC.], in its capacity as trustee (the “Notes Trustee”) and Second Lien Agent, are entering into the [Indenture],
dated as of [            ] (as such Indenture may be amended, modified, supplemented, extended, renewed, restated or Refinanced from time to time, the “Indenture”),
governing the Borrower’s [    ]% Senior Secured Notes due [        ] (the “Notes”); 
 WHEREAS, it is a requirement of the First Lien Credit Agreement pursuant to the Second Amendment that the First Lien Agent (for itself and for the benefit of the First Lien Lenders) and the Second Lien
Agent (for itself and for the benefit of the holders of the Notes) enter into this Agreement; 

 NOW, THEREFORE, in consideration of the foregoing, the mutual covenants and obligations
herein set forth and for other good and valuable consideration, the adequacy and receipt of which are hereby acknowledged, and in reliance upon the representations, warranties and covenants herein contained, the parties hereto, intending to be
legally bound, hereby agree as follows: 
 Section 1. Definitions. As used in this Agreement, the following terms
shall have the following meanings (such meanings to be equally applicable to both the singular and the plural form of the terms indicated): 
 “Bankruptcy Code” shall mean title 11 of the United States Code (11 U.S.C. 101 et seq.), as amended from time to time and any successor statute. 

“Borrower” shall mean, GenCorp Inc., an Ohio corporation and its successors and assigns, including, without limitation,
any receiver, trustee or debtor-in-possession on behalf of such person or on behalf of any successor or assign. 

“Business Day” shall mean any day other than a Saturday, Sunday or other day on which commercial banks are authorized or
required to close under the laws of the State of New York, and a day on which First Lien Agent and the Second Lien Agent are open for the transaction of business. 
 “Collateral” shall mean all of the personal property and interests in personal property, tangible or intangible, now owned or hereafter acquired by any Obligor in or upon which First Lien
Agent or any other Person under the First Lien Lender Documents at any time has a Lien and the Second Lien Agent or any other Person under the Noteholder Collateral Documents at any time has a Lien, and including, without limitation, all proceeds of
such personal property and interests in personal property; provided, however that the term Collateral as it relates to the Noteholder Debt shall not include the Excluded Property. 

“Comparable Noteholder Collateral Document” shall mean, in relation to any Collateral, any Noteholder Collateral
Document which creates a Lien in the Collateral, granted by one or more of the Obligors, as applicable. 
 “Conforming
Plan of Reorganization” shall mean any Plan of Reorganization whose provisions are consistent with the provisions of this Agreement. 
 “DIP Financing” shall have the meaning set forth in Section 6.2 hereof. 
 “Effective Date” shall mean [                ,         ].

 “Excluded Property” shall mean (a) any and all real property owned or leased by the Borrower and the
Guarantors from time to time and (b) any Capital Stock or other securities of any Affiliate of the Company that does not secure the Noteholder Debt as a result of the 3-16 Limitation (as defined in the Noteholder Collateral Documents).

 “First Lien Agent” shall have the meaning set forth in the recitals hereto and shall include any successor
thereto exercising substantially the same rights and powers, or if there is no acting First Lien Agent under the First Lien Credit Agreement, the Required Lenders under the First Lien Credit Agreement. 

“First Lien Collateral Documents” shall mean the Security Agreement dated as of November 18, 2011, among the
Borrower, the Guarantors and the First Lien Agent, the Pledge Agreement dated as of November 18, 2011, among the Borrower, the Guarantors and the First Lien 

 
Agent and any other document or instrument executed and delivered at any time pursuant to any First Lien Lender Document or otherwise, pursuant to which a Lien is granted by an Obligor to secure
First Lien Debt or under which rights or remedies with respect to any such Lien are governed, as the same may be amended, modified, supplemented, extended, renewed, or restated from time to time. 

“First Lien Credit Agreement” shall have the meaning set forth in the recitals hereto. 

“First Lien Debt” shall mean any and all obligations, liabilities and indebtedness of every kind, nature and description
owing by any Obligor to the First Lien Agent or any other First Lien Lender arising under the First Lien Credit Agreement or any of the other First Lien Lender Documents, whether direct or indirect, absolute or contingent, joint or several, due or
not due, primary or secondary, liquidated or unliquidated, including principal, interest, charges, fees, costs, indemnities and expenses, however evidenced, whether as principal, surety, endorser, guarantor or otherwise, whether now existing or
hereafter arising, whether arising before, during or after the initial or any renewal term of the applicable First Lien Lender Documents or after the commencement of any Insolvency Proceeding with respect to any Obligor (and including, without
limitation, the payment of interest which would accrue and become due but for the commencement of such Insolvency Proceeding, whether or not such interest is allowed or allowable in whole or in part in any such Insolvency Proceeding). 

“First Lien Guarantors” shall mean the “Guarantors” as defined in the First Lien Credit Agreement. 

“First Lien Lender Documents” shall mean, collectively, the First Lien Credit Agreement and each of the other Credit
Documents (as defined in the First Lien Credit Agreement or any similar term in any replacement or Refinanced First Lien Credit Agreement), as any of the foregoing may be amended, modified, supplemented, extended, renewed, restated, replaced or
Refinanced from time to time. 
 “First Lien Lender Termination Date” shall mean the date that all of the
following have occurred: (a) the First Lien Lenders have received the payment in full in cash or other immediately available funds of all of the First Lien Debt (other than contingent indemnity obligations not yet due and payable), (b) the
First Lien Agent shall have received either cash collateral or a letter of credit with respect to contingent obligations in accordance with the First Lien Credit Agreement as in effect on the date hereof, and (c) the agreement of the First Lien
Lenders to make any further loans or provide any further financial accommodations to the Borrower shall have been terminated. 

“First Lien Lenders” shall mean the Persons holding First Lien Debt, including, without limitation, the First Lien
Agent. 
 “Guarantor” shall mean (a) each entity listed as a “Guarantor” on the signature pages
to the Obligor Acknowledgement hereto, and in each case, such entity’s successors and assigns, including, without limitation, any receiver, trustee or debtor-in-possession on behalf of such entity or on behalf of any successor or assign, and
(b) each other Person (other than the Borrower) now or at any time hereafter liable on or in respect of any of the First Lien Debt or the Noteholder Debt, and each of such Person’s successors and assigns, including, without limitation, a
receiver, trustee or debtor-in-possession on behalf of such person or on behalf of any such successor or assign. 

 “Indenture” shall have the meaning set forth in the recitals hereto.

 “Insolvency Proceeding” shall mean, as to any Person, any of the following: 

(a) any case or proceeding with respect to such Person under the Bankruptcy Code or any other Federal or State bankruptcy, insolvency or
reorganization law of any jurisdiction affecting creditors’ rights or any other or similar proceedings seeking any stay, reorganization, arrangement, composition or readjustment of the obligations and indebtedness of such Person; or 

(b) any proceeding seeking the appointment of any trustee, receiver, liquidator, custodian or other insolvency official with similar
powers with respect to such Person or any of its assets; or 
 (c) any proceeding for liquidation, dissolution or other winding
up of the business of such Person; or 
 (d) any assignment for the benefit of creditors of assets of such Person. 

“Lien” shall mean any mortgage, deed of trust, pledge, hypothecation, assignment, security interest, encumbrance
(including, but not limited to, easements, rights of way and the like), lien (statutory or other), security agreement or transfer intended as security, including without limitation, any conditional sale or other title retention agreement, the
interest of a lessor under a capital lease, or any financing lease having substantially the same economic effect as any of the foregoing. 
 “Noteholder Collateral Documents” shall mean the Noteholder Security Agreement and any other document or instrument executed and delivered at any time pursuant to any Noteholder Document
or otherwise, pursuant to which a Lien is granted by an Obligor to secure Noteholder Debt or under which rights or remedies with respect to any such Lien are governed, as the same may be amended, modified, supplemented, extended, renewed, or
restated from time to time; provided, however that no mortgages or deeds of trust in respect of Excluded Property shall constitute Noteholder Collateral Documents. 
 “Noteholder Debt” shall mean any and all obligations, liabilities and indebtedness of every kind, nature and description owing by any Obligor arising under the Noteholder Documents,
whether direct or indirect, absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, including principal, interest, charges, fees, costs, indemnities and expenses, however evidenced, whether as
principal, surety, endorser, guarantor or otherwise, whether now existing or hereafter arising, whether arising before, during or after the initial or any renewal term of the Indenture or after the commencement of any Insolvency Proceeding with
respect to any Obligor (and including, without limitation, the payment of interest which would accrue and become due but for the commencement of such Insolvency Proceeding, whether or not such interest is allowed or allowable in whole or in part in
any such Insolvency Proceeding). 
 “Noteholder Documents” shall mean the Indenture, the Notes, the Noteholder
Collateral Documents and any other document or instrument executed and delivered at any time pursuant to any Noteholder Document or otherwise, with respect to any Noteholder Debt, as the same may be amended, modified, supplemented, extended,
renewed, or restated from time to time. 

 “Noteholder Security Agreement” shall mean the security agreement dated as
of the date hereof, among the Borrower, the Guarantors and the Second Lien Agent. 
 “Noteholders” shall mean
the Persons holding Noteholder Debt, including the Second Lien Agent and the Notes Trustee. 
 “Notes” shall
have the meaning set forth in the recitals hereto. 
 “Notes Trustee” shall have the meaning set forth in the
recitals hereto. 
 “Obligor” shall mean, individually and collectively, the Borrower and the Guarantors.

 “Person” or “person” shall mean any individual, sole proprietorship, partnership,
corporation (including without limitation, any corporation which elects subchapter S status under the Internal Revenue Code of 1986, as amended), limited liability company, limited liability partnership, business trust, unincorporated association,
joint stock company, trust, joint venture, or other entity or any government or any agency or instrumentality or political subdivision thereof. 
 “Plan of Reorganization” means any plan or reorganization, plan of compromise, plan of liquidation, agreement for composition, plan of arrangement or other type of plan of arrangement
proposed in or in connection with any Insolvency Proceeding. 
 “Recovery” shall have the meaning set forth in
Section 6.6 hereof. 
 “Refinance” shall mean, in respect of any indebtedness, to refinance,
extend, renew, defease, amend, modify, supplement, restructure, replace, refund or repay, or to issue other indebtedness, in exchange or replacement for, such indebtedness. “Refinanced” and “Refinancing” shall have
correlative meanings. 
 “Required Lenders” shall mean, with respect to any amendment or modification of the
First Lien Credit Agreement, or any termination or waiver of any provision of a First Lien Lender Document, or any consent or departure by any of the Obligors therefrom, those First Lien Lenders, the approval of which is required under the terms of
the First Lien Credit Agreement to approve such amendment or modification, termination or waiver or consent or departure under the First Lien Credit Agreement or such First Lien Lender Document, as applicable. 

“Second Lien Agent” shall have the meaning set forth in the recitals hereto and shall include any successor thereto
exercising substantially the same rights and powers. 
 “Uniform Commercial Code” or “UCC”
shall mean the Uniform Commercial Code of the State of New York, as amended. 

 Section 2. Lien Priorities. 

2.1 Acknowledgment of Liens. The First Lien Agent hereby acknowledges that the Second Lien Agent acting for and on behalf of the
Noteholders has been granted Liens upon all of the Collateral (other than the Excluded Property) pursuant to the Noteholder Documents to secure the Noteholder Debt. The Second Lien Agent hereby acknowledges that the First Lien Agent, acting for and
on behalf of the First Lien Lenders, has been granted Liens upon all of the Collateral pursuant to the First Lien Lender Documents to secure the First Lien Debt. 
 2.2 Subordination. Notwithstanding the order or time of attachment, or the order, time or manner of perfection, or the order or time of filing or recordation of any document or instrument, or other
method of perfecting a Lien in favor of the First Lien Agent or any other First Lien Lender in any Collateral, and notwithstanding any conflicting provisions, terms or conditions of the UCC or any other applicable law or the Noteholder Documents or
the First Lien Lender Documents or any other circumstance whatsoever, the Second Lien Agent, for and on behalf of the Noteholders hereby agrees that: (a) any Lien on the Collateral securing any or all of the First Lien Debt now or hereafter
held by the First Lien Agent or any other First Lien Lender shall be senior and prior to any Lien on the Collateral securing any or all of the Noteholder Debt; and (b) any Lien on the Collateral now or hereafter held by the Second Lien Agent or
any other Noteholder securing Noteholder Debt regardless of how acquired, whether by grant, statute, operation of law, judgment, subrogation or otherwise, shall be junior and subordinate in all respects to all Liens on the Collateral securing any or
all of the First Lien Debt. All Liens on the Collateral securing any or all of the First Lien Debt shall be and remain senior to all Liens on the Collateral securing any or all of the Noteholder Debt for all purposes, whether or not any such Liens
securing any of the First Lien Debt are subordinated to any Lien securing any other obligation of the Borrower or any Guarantor. 
 2.3 Prohibition on Contesting Liens. Each of the Second Lien Agent, for and on behalf of each Noteholder, and the First Lien Agent, for and on behalf of each First Lien Lender, agrees that it shall
not (and hereby waives any right to) contest or support any other Person in contesting, in any proceeding (including, without limitation, any Insolvency Proceeding), the priority, validity or enforceability of a Lien held by the First Lien Agent or
any other First Lien Lender in any of the Collateral or by the Second Lien Agent or any other Noteholder in any of the Collateral, as the case may be; provided that nothing in this Agreement shall be construed to prevent or impair the rights
of the First Lien Agent or the Second Lien Agent or any First Lien Lender or any Noteholder to enforce this Agreement. 
 2.4
No New Liens. Until the First Lien Lender Termination Date, (a) neither the Borrower nor any Guarantor shall grant (i) to the Second Lien Agent or any other Noteholder any Lien upon any assets or properties of any Obligor unless the
First Lien Agent has been granted a Lien on such assets or properties that is senior and prior to the Liens thereon of the Second Lien Agent and the other Noteholders and (ii) to the First Lien Agent or any First Lien Lender any Lien upon any
assets or properties of any Obligor unless the Second Lien Agent has been granted a Lien on such assets or properties that is junior to the Liens thereon of the First Lien Agent and the First Lien Lenders and (b) the parties hereto agree that,
after the date hereof, if the Second Lien Agent or any other Noteholder shall nonetheless hold any Lien on any assets or properties of any Obligor that are not also subject to the senior and prior Lien of the First Lien Agent, the Second Lien Agent,
upon demand by the First Lien Agent, will either release (or cause the release of) such Lien or assign (or cause to be assigned) such Lien to the First Lien Agent, or otherwise execute appropriate documents and/or instruments reasonably requested by
the First Lien Agent acknowledging and confirming that 

 
the Second Lien Agent (as applicable) holds (and shall be deemed to have held) such Lien and security interest for the benefit of the First Lien Agent as security for the First Lien Debt subject
to the priorities set forth herein, with any amounts received in respect thereof subject to distribution and turnover under Section 4. Until the Second Lien Lender Termination Date, if the First Lien Agent or any other First Lien Lender shall
nonetheless hold any Lien on any assets or properties of any Obligor that are not also subject to the junior Lien of the Second Lien Agent, the First Lien Agent upon the request of the Second Lien Agent shall execute appropriate documents and/or
instruments reasonably requested by the Second Lien Agent acknowledging and confirming that the First Lien Agent (as applicable) holds (and shall be deemed to have held) such Lien and security interest for the benefit of the Second Lien Agent as
security for the Noteholder Debt subject to the priorities set forth herein, with any amounts received thereof subject to distribution under Section 4. Notwithstanding the foregoing, the First Lien Debt shall not be prohibited from being
secured by any asset constituting Excluded Property that does not secure the Noteholder Debt. 
 Section 3. Enforcement. 

3.1 Exercise of Remedies. 
 (a) Prior to the First Lien Lender Termination Date, whether or not any Insolvency Proceeding has been commenced by or against any Obligor, the Second Lien Agent and the other Noteholders will not
(A) exercise or seek to exercise any rights or remedies (including setoff) with respect to any Collateral, or institute any action or proceeding with respect to such rights or remedies, including, without limitation, any action of
foreclosure, (B) contest, protest or object to any foreclosure proceeding or action brought by the First Lien Agent or any other First Lien Lender, or any exercise of any right under any cash management agreement, landlord waiver or
bailee’s letter or similar agreement or arrangement or of any rights and remedies relating to the Collateral under the First Lien Lender Documents or otherwise, or (C) object to the forbearance by the First Lien Agent and the other First
Lien Lenders or any of them from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights or remedies relating to the Collateral. Prior to the First Lien Lender Termination Date, the First Lien Agent and the
other First Lien Lenders shall have the exclusive right to enforce rights, exercise remedies (including, without limitation, setoff and the right to credit bid their debt) and make determinations regarding release, disposition, or restrictions with
respect to the Collateral without any consultation with or the consent of the Second Lien Agent or any other Noteholder; provided that (i) in any Insolvency Proceeding commenced by or against any Obligor, the Second Lien Agent may file a
proof of claim with respect to the Noteholder Debt and the Noteholders may vote with respect to any Conforming Plan of Reorganization, (ii) the Second Lien Agent may (x) send such notices of the existence of, or any evidence or
confirmation of, the Noteholder Debt under the Noteholder Documents or the Liens of the Second Lien Agent, or any other collateral agent, agent or representative of the Noteholders which has appointed the Second Lien Agent to act for, and bind, it
(and all Noteholders for which it acts as collateral agent, agent or representative) under and for purposes of this Agreement, in the Collateral to any court or governmental agency or (y) file or record any such notice or evidence to the extent
necessary to prove or preserve the Liens of the Second Lien Agent, or any other collateral agent, agent or representative of the Noteholders which has appointed the Second Lien Agent to act for, and bind, it (and all Noteholders for which it acts as
collateral agent, agent or representative) under and for purposes of this Agreement, in the Collateral, (iii) the Second Lien Agent may file any necessary or appropriate responsive or defensive pleadings in opposition to any motion, claim,
adversary proceeding or other pleading made by any Person objecting to or otherwise seeking the 

 
disallowance of the claims or Liens of any Noteholder, including any claims secured by the Collateral, in each case to the extent not inconsistent with the terms of this Agreement, (iv) the
Second Lien Agent or any other collateral agent, agent or representative of the Noteholders which has appointed the Second Lien Agent to act for, and bind, it (and all Noteholders for which it acts as collateral agent, agent or representative) under
and for purposes of this Agreement, may take action in order to create, perfect or preserve (but not enforce) its Lien on any Collateral, (v) in any Insolvency or Liquidation Proceeding, the Second Lien Agent and Noteholders shall be entitled
to file any pleadings, objections, motions or agreements which assert rights or interests available to unsecured creditors of the Obligors arising under either applicable bankruptcy law or applicable non-bankruptcy law, in each case in accordance
with the terms of this Agreement, (vi) in any Insolvency or Liquidation Proceeding, the Second Lien Agent and Noteholders shall be entitled to vote on any plan of reorganization, to the extent consistent with the provisions hereof (it being
understood that the Second Lien Agent and Noteholders shall not be permitted to vote in favor or support of any plan of reorganization that is not a Conforming Plan or Reorganization), and (vii) the Second Lien Agent or any Noteholder may
exercise any of its rights or remedies with respect to the Collateral after termination of the Standstill Period. The Second Lien Agent, for and on behalf of the Noteholders, agrees that, unless and until the First Lien Lender Termination Date has
occurred, the Second Lien Agent and the other Noteholders will not commence, or join with any Person (other than the First Lien Agent and/or the other First Lien Lenders upon the request thereof) in commencing any enforcement, collection, execution,
levy or foreclosure action or proceeding with respect to any Lien held by it under any of the Noteholder Documents or otherwise; and the Second Lien Agent and the other Noteholders will not take any action that would hinder any exercise of remedies
undertaken by the First Lien Agent or any other First Lien Lender under any of the First Lien Lender Documents, including any sale, lease, exchange, transfer, or other disposition of any Collateral, whether by foreclosure or otherwise. In exercising
rights and remedies with respect to the Collateral, the First Lien Agent and the other First Lien Lenders or any of them may enforce the provisions of the First Lien Lender Documents and exercise remedies thereunder, all in such order and in such
manner as they may determine in the exercise of their sole discretion. Such exercise and enforcement shall include, without limitation, the rights of an agent appointed by them to sell or otherwise dispose of Collateral upon foreclosure, to incur
expenses in connection with such sale or disposition, and to exercise all the rights and remedies of a secured party under the Uniform Commercial Code of any applicable jurisdiction and of a secured creditor under the Bankruptcy Code or similar laws
of any applicable jurisdiction. Without limiting the generality of the foregoing, unless and until the First Lien Lender Termination Date has occurred, except as expressly provided above in this Section 3.1(a) or the proviso of
Section 3.1(b), the sole right of the Second Lien Agent and the other Noteholders with respect to the Collateral is to hold a Lien on the Collateral pursuant to the Noteholder Documents for the period and to the extent granted therein
and to receive a share of the proceeds thereof, if any, after the First Lien Lender Termination Date has occurred. 
 (b) The
Second Lien Agent, for and on behalf of the Noteholders, hereby waives any and all rights it or any other Noteholder may have as a junior lien creditor or otherwise to object to the manner in which the First Lien Agent or any other First Lien Lender
seek to enforce or collect any First Lien Debt or any Liens granted in any of the Collateral; provided that, notwithstanding any other provision of this Agreement (including Section 3(a) above), but subject at all times to the
provisions of Section 4 of this Agreement, the Second Lien Agent may enforce or exercise any or all such rights and remedies, or commence, petition or file for any such action or proceeding, (i) after a period (the “Standstill
Period”) ending one hundred eighty (180) days after the date that the First Lien Agent receives written notice from the Second Lien Agent that Second Lien Agent has declared, 

 
in writing, the existence of any event of default under any of the Noteholder Documents and has accelerated the payment of all the principal amount of the Noteholder Debt and has demanded, in
writing, the repayment of such Noteholder Debt from the Obligors, and (ii) if and only if, as of the expiration of such one hundred eighty (180) day period, (A) the applicable event of default set forth in the written notice set forth
in Section 3.1(b)(i) above is continuing and has not been cured, waived or remedied, and (B) the First Lien Agent or any other First Lien Lender is not then diligently pursuing in good faith the exercise of its enforcement rights or
remedies against a material portion of the Collateral (including, without limitation, any of the following: solicitation of bids from third parties to conduct the liquidation of all or any material portion of the Collateral, the engagement or
retention of sales brokers, marketing agents, investment bankers, accountants, auctioneers or other third parties for the purpose of valuing, marketing, promotion or selling all or any material portion of the Collateral, the notification of account
debtors to make payments to the First Lien Agent, the initiation of any action to take possession of all or any material portion of the Collateral or the commencement of any legal proceedings or actions against or with respect to all or any material
portion of the Collateral). 
 Section 4. Payments. 
 4.1 Application of Proceeds. Until the First Lien Lender Termination Date has occurred, all cash proceeds of Collateral received in connection with any sale or other disposition of, or collection
or other realization on, such Collateral (except for payments in respect of the Notes made in accordance with any provision of the First Lien Lender Documents expressly permitting such payments) shall be paid to the First Lien Agent and shall be
applied by the First Lien Agent to the First Lien Debt in such order as specified in the First Lien Credit Agreement. On and after the First Lien Lender Termination Date, the First Lien Agent shall promptly deliver to the Second Lien Agent any
Collateral and any proceeds of Collateral held by it in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct. 

4.2 Payments Over. Any Collateral or proceeds thereof received by the Second Lien Agent or any other Noteholder at any time prior
to the First Lien Lender Termination Date (except for payments in respect of the Notes made in accordance with any provision of the First Lien Credit Agreement expressly permitting such payments) shall be segregated and held in trust by the Second
Lien Agent. The Second Lien Agent shall, at the Borrower’s expense, promptly send written notice to the First Lien Agent upon receipt of such Collateral or proceeds and if directed by the First Lien Agent within five (5) days after receipt
by the First Lien Agent of such written notice, shall deliver such Collateral or proceeds to the First Lien Agent in the same form as received, with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct. The First
Lien Agent is hereby authorized to make any such endorsements as agent for the Second Lien Agent or any such Noteholder. This authorization is coupled with an interest and is irrevocable. 

 Section 5. Other Agreements. 

5.1 Releases. 
 (a) If in connection with: 
 (i) the exercise of the First Lien
Agent’s rights and remedies in respect of any of the Collateral provided for in Section 3.1, including any sale, lease, exchange, transfer, or other disposition of such Collateral and, as of the date thereof, an Event of Default
under, and as defined in, the First Lien Credit Agreement or any of the other First Lien Lender Documents exists and is continuing; or 
 (ii) any sale, lease, exchange, transfer, or other disposition of Collateral permitted under the terms of the First Lien Lender Documents and the Noteholder Documents (as in effect on the date hereof);

 the First Lien Agent, for and on behalf of the First Lien Lenders, releases any of its Liens on any part of the Collateral (or releases any
Guarantor from its obligations under the First Lien Credit Agreement or any of the other First Lien Lender Documents), then, the Liens, if any, of the Second Lien Agent, for itself or for the benefit of the Noteholders, on such Collateral (or the
obligations of such Guarantor under its guaranty of the Noteholder Debt, as the case may be) shall be automatically, unconditionally and simultaneously released, and the Second Lien Agent, for itself or on behalf of any such Noteholder, shall
promptly execute and deliver to the First Lien Agent or the Obligors (as applicable) such UCC amendments, releases and other documents on customary terms (which releases and documents should be substantially identical to the comparable releases and
other documents executed by the First Lien Agent in connection with such release) as the First Lien Agent or the Obligors may reasonably request to effectively confirm such release; provided that the proceeds of any Collateral received pursuant to
clause (i) of this Section 5.1(a) shall be applied pursuant to Section 4 above. 
 (b) The Second
Lien Agent, for and on behalf of the Noteholders, hereby irrevocably constitutes and appoints the First Lien Agent and any officer or agent of the First Lien Agent, with full power of substitution, as its true and lawful attorney-in-fact with full
irrevocable power and authority in the place and stead of the Second Lien Agent or such Noteholder or in the First Lien Agent’s name, from time to time in the First Lien Agent’s discretion, for the purpose of carrying out the terms of this
Section 5.1, to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this Section 5.1, including, without limitation, any
financing statement amendments, endorsements or other instruments of transfer or release. This power is coupled with an interest and is irrevocable. 
 5.2 Insurance. Until the First Lien Lender Termination Date, the First Lien Agent and the other First Lien Lenders shall have the sole and exclusive right, subject to the rights of the Borrower
under the relevant First Lien Lender Documents, to adjust settlement for any insurance policy covering any Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding affecting any
Collateral. Until the First Lien Lender Termination Date, all proceeds of any such policy and any such award shall be paid to the First Lien Agent for the benefit of the First Lien Lenders to the extent required under the First Lien Credit Agreement
and the other First Lien Lender Documents and thereafter to the Second Lien Agent for the benefit of the Noteholders to the extent required under the applicable Noteholder Documents. If the Second Lien Agent or any other Noteholder shall, at any
time, receive any proceeds of any such insurance policy or any such award in contravention of this Agreement, it shall pay such proceeds over to the First Lien Agent in accordance with the terms of Section 4.2. 

 5.3 Amendments to Noteholder Collateral Documents. 

(a) Until the First Lien Termination Date has occurred, without the prior written consent of the First Lien Agent and the Required
Lenders, no Noteholder Collateral Document may be amended, supplemented or otherwise modified or entered into to the extent such amendment, supplement or modification, or the terms of any new Noteholder Collateral Document would (i) provide any
restriction on the Obligors’ ability to incur First Lien Debt, to grant Liens to the First Lien Agent for the benefit of the First Lien Lenders or otherwise to perform their obligations under the First Lien Lender Documents, in each case that
is more restrictive than is contained in the Noteholder Documents on the date hereof, (ii) change the rate of interest payable on or alter the amount or dates for payment of any principal or other sum due in respect of the Noteholder Debt,
other than to reduce such rate of interest or amount or extend the maturity of any such payment, or (iii) otherwise be inconsistent with any of the terms of any of the First Lien Lender Documents or this Agreement. The Second Lien Agent agrees
that each Noteholder Collateral Document shall include the following language: 
 “Notwithstanding anything herein to the
contrary, the lien and security interest granted to the Collateral Agent pursuant to this Agreement and the exercise of any right or remedy by the Collateral Agent hereunder are subject to the provisions of the Intercreditor Agreement, dated as of
[            ,         ] (as amended, modified, supplemented or replaced from time to time, the “Intercreditor Agreement”), between
Wells Fargo Bank, National Association, as First Lien Agent, and [            ], as Second Lien Agent. In the event of any conflict between the terms of the Intercreditor Agreement and this
Agreement, the terms of the Intercreditor Agreement shall govern.” 
 (b) Notwithstanding anything to the contrary herein,
in the event the First Lien Agent or the Required Lenders enter into any amendment, waiver or consent in respect of any of the First Lien Lender Documents for the purpose of adding to, or deleting from, or waiving or consenting to any departures
from any provisions of any First Lien Collateral Documents or changing in any manner the rights of the First Lien Agent, any other First Lien Lender, or any of the Obligors thereunder, then such amendment, waiver or consent shall apply automatically
to any comparable provision of the Comparable Noteholder Collateral Document without the consent of the Second Lien Agent or the other Noteholders and without any action by the Second Lien Agent or any Obligor; provided, however, that no such
amendment, waiver or consent shall have the effect of removing assets subject to the Lien of the Noteholder Collateral Documents, except to the extent that a release of such Lien is required or permitted by Section 5.1. 

5.4 Rights As Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Lien Agent and the other
Noteholders may exercise rights and remedies as an unsecured creditor against the Borrower and its subsidiaries in accordance with the terms of the Noteholder Documents and applicable law. Nothing in this Agreement shall prohibit the receipt by the
Second Lien Agent or any other Noteholder of the required payments of interest on and principal of the Notes so long as such receipt is (a) not the direct or indirect result of the exercise by the Second Lien Agent or any other Noteholder of
rights or remedies as a secured creditor or enforcement of any Lien held by any of them in contravention of this Agreement and (b) permitted by the terms of the Indenture. In the event the Second Lien Agent or any other Noteholder becomes a
judgment lien creditor in respect of Collateral as a result of its enforcement of its rights as an 

 
unsecured creditor, such judgment lien shall be subordinated to the Liens securing First Lien Debt on the same basis as the other Liens securing the Noteholder Debt are so subordinated to such
First Lien Debt under this Agreement. Nothing in this Agreement modifies any rights or remedies the First Lien Agent or any other First Lien Lender may have with respect to the Collateral. 

5.5 Bailee for Perfection. 
 (a) The Second Lien Agent hereby appoints the First Lien Agent to hold, and the First Lien Agent accepts such appointment and agrees to hold, all of the Collateral in the First Lien Agent’s
possession or control (or in the possession or control of its agents or bailees) as bailee and agent for the benefit and on behalf of the Second Lien Agent and Noteholders, solely for the purpose of perfecting the security interest granted in such
Collateral pursuant to the Noteholder Collateral Documents, subject to the terms and conditions of this Section 5.5. 
 (b)
Until the First Lien Lender Termination Date, the First Lien Agent shall be entitled to deal with the Collateral in their possession or control in accordance with the terms of the First Lien Lender Documents. The rights of the Second Lien Agent
shall at all times be subject to the terms of this Agreement and to the First Lien Agent’s rights under the First Lien Lender Documents. 
 (c) The First Lien Agent shall have no obligation whatsoever to the Second Lien Agent or any other Noteholder to assure that the Collateral in the First Lien Agent’s possession or control is genuine
or owned by any Obligor or to preserve rights or benefits of any Person except as expressly set forth in this Section 5.5. The duties or responsibilities of the First Lien Agent under this Section 5.5 shall be limited solely
to holding the Collateral in its possession or control as bailee for the Second Lien Agent for purposes of perfecting the Lien held by the Second Lien Agent and to using the same degree of care with respect to such Collateral as the First Lien Agent
uses for similar property pledged to it as collateral for indebtedness generally. 
 (d) The First Lien Agent shall not have by
reason of the Noteholder Collateral Documents or this Agreement or any other document a fiduciary relationship in respect of the Second Lien Agent or any other Noteholder. 
 (e) Upon the First Lien Lender Termination Date, the First Lien Agent shall deliver to the Second Lien Agent the Collateral in its possession or control (or in the possession or control of its agents or
bailees) together with any necessary endorsements (or otherwise allow the Second Lien Agent to obtain control of such Collateral), or as a court of competent jurisdiction may otherwise direct. 

5.6 When Discharge of First Lien Debt Deemed to Not Have Occurred. If at any time after one of the events described in the
definition of the First Lien Lender Termination Date has occurred the Obligors, either in connection therewith or thereafter, enter into any Refinancing of any First Lien Lender Document evidencing First Lien Debt, then such event described in the
definition of First Lien Lender Termination Date shall automatically be deemed not to have occurred for all purposes of this Agreement (other than with respect to any actions taken prior to the date of such designation as a result of the occurrence
of such event), and the obligations under such Refinancing shall automatically be treated as First Lien Debt for all purposes of this Agreement, including without limitation for purposes of the Lien priorities and rights in respect of Collateral set
forth herein and the First Lien Agent under such Refinanced First Lien Lender Documents shall be 

 
the First Lien Agent for all purposes of this Agreement. Upon receipt of written notice of such designation (including the identity of the new First Lien Agent thereunder), the Second Lien Agent
shall, at the expense of the Borrower, promptly deliver to the First Lien Agent any Collateral in the Second Lien Agent’s possession and control together with any necessary endorsements (or otherwise allow the First Lien Agent to obtain control
of such Collateral). 
 Section 6. Insolvency Proceedings. 

6.1 Insolvency Proceedings Generally. This Agreement shall be applicable both before and after the filing of any petition by or
against any Obligor under the Bankruptcy Code or the commencement of any other Insolvency Proceedings and all converted or succeeding cases in respect thereof, and all references herein to any Obligor shall be deemed to apply to the trustee for any
Obligor and any Obligor as debtor-in-possession. The relative rights of the First Lien Agent and Second Lien Agent in or to any distributions from or in respect of any Collateral or proceeds of Collateral shall continue after the filing of such
petition on the same basis as prior to the date of the petition, subject to any court order approving the financing of, or use of cash collateral by, any Obligor as debtor-in-possession. 

6.2 Financing Issues. If any Obligor shall be subject to any Insolvency Proceeding and the First Lien Agent or any other First
Lien Lender shall desire to permit the use of cash collateral that constitutes Collateral or to permit any Obligor to obtain financing under Section 363 or Section 364 of the Bankruptcy Code that is to be secured by any of the Collateral
(“DIP Financing”), and if (x) the DIP Financing is secured by Liens on the Collateral that are senior to or pari passu with the Liens of the First Lien Lenders on the Collateral and (y) to the extent the First Lien
Lenders receive additional or replacement liens on post-petition assets in connection with such DIP Financing and the Second Lien Agent, for the benefit of the Noteholders, receives additional or replacement liens on such post-petition assets that
are junior and subordinate to the First Lien Lenders’ replacement liens to the same extent as the Second Lien Agent’s Liens on the Collateral are junior and subordinate to the First Lien Lenders’ Liens on the Collateral, then the
Second Lien Agent, on behalf of itself and the other Noteholders, agrees that (a) it will not raise any objection to such use of cash collateral or DIP Financing; provided that the Second Lien Agent may object to such DIP Financing if
(A) any such cash collateral use or DIP Financing compels any Obligor to seek confirmation of a specific Plan of Reorganization for which all or substantially all of the material terms are set forth in the cash collateral order or DIP Financing
documentation, (B) the terms of such DIP Financing or cash collateral use require any Obligor to seek approval for any Plan of Reorganization that is not a Conforming Plan of Reorganization, or (C) the terms of such DIP Financing require
the Noteholders to extend additional credit pursuant to such DIP Financing, (b) it will not request adequate protection or any other relief in connection therewith that is not otherwise permissable under Section 6.4, and (c) it will
subordinate its Liens in the Collateral to such DIP Financing (and all obligations secured thereby) on the same basis as the Liens securing the Noteholder Debt are subordinated to the Liens securing First Lien Debt under this Agreement. 

6.3 Relief from the Automatic Stay. The Second Lien Agent, on behalf of itself and the other Noteholders, agrees that, until the
First Lien Lender Termination Date, none of them shall seek relief from the automatic stay or any other stay in any Insolvency Proceeding in respect of the Collateral, without the prior written consent of the First Lien Agent and the Required
Lenders. 

 6.4 Adequate Protection. The Second Lien Agent, on behalf of itself and the other
Noteholders, agrees that none of them shall contest (or support any other Person in contesting) (a) any request by the First Lien Agent or any of the other First Lien Lenders for adequate protection or (b) any objection by the First Lien
Agent or any other First Lien Lender to any motion, relief, action or proceeding based on the First Lien Agent or any other First Lien Lender claiming a lack of adequate protection. Notwithstanding the foregoing, in any Insolvency Proceeding,
(i) if the First Lien Agent or the other First Lien Lenders (or any subset thereof) are granted adequate protection in the form of replacement Liens or Liens on additional Collateral in connection with any DIP Financing or use of its cash
collateral under Section 363 or Section 364 of the Bankruptcy Code, then the Second Lien Agent, on behalf of itself or any other Noteholder, may seek or request adequate protection in the form of a replacement Lien or a Lien on such
additional Collateral (as applicable), which Lien is subordinated to the Liens securing the First Lien Debt and such DIP Financing (and all obligations secured thereby) on the same basis as the other Liens securing the Noteholder Debt are so
subordinated to the Liens securing the First Lien Debt under this Agreement, (ii) if the First Lien Agent or the other First Lien Lenders (or any subset thereof) are granted adequate protection in the form of a superpriority administrative
claim in connection with any DIP Financing or use of its cash collateral under Section 363 or Section 364 of the Bankruptcy Code, then the Second Lien Agent, on behalf of itself or any other Noteholder, may seek or request adequate
protection in the form of a superpriority administrative claim, which claim is subordinated to the superpriority claims granted to the First Lien Agent on the same basis as the other claims of the Noteholders are so subordinated to the claims of the
First Lien Lenders under this Agreement, (iii) if, notwithstanding the foregoing, the Second Lien Agent or any other Noteholder is granted a replacement Lien or a Lien on additional Collateral and/or a superpriority administrative claim as
adequate protection for the Noteholder Debt, but the First Lien Agent is not granted a senior and prior Lien on the same Collateral or a senior and/or prior administrative claim with respect to the First Lien Debt (as applicable), then until the
First Lien Lender Termination Date, such replacement Lien or Lein on additional Collateral and/or superpriority administrative claim (as applicable) shall be assigned to the First Lien Agent for application to the First Lien Debt to the same extent
and on the same terms as proceeds of the Collateral, and (iv) if the First Lien Agent or the other First Lien Lenders are granted adequate protection in the form of payments in the amount of current incurred fees and expenses and/or other cash
payments, or otherwise with the consent of the First Lien Agent, then the Second Lien Agent and the Noteholders shall not be prohibited from seeking adequate protection in the form of payments in the amount of current incurred fees and expenses
and/or other cash payments (as applicable), subject to the right of the First Lien Lenders to object to the reasonableness of the amounts of fees and expenses or other cash payments so sought by the Second Lien Agent and the Noteholders. 

6.5 No Waiver. Nothing contained herein shall prohibit or in any way limit the First Lien Agent or any other First Lien Lender
from objecting in any Insolvency Proceeding or otherwise to any action taken by the Second Lien Agent or any other Noteholder, including, without limitation, action by the Second Lien Agent or any other Noteholder seeking adequate protection or
asserting any of its rights and remedies under the Noteholder Documents or otherwise. 
 6.6 Avoidance Recoveries. If the
First Lien Agent or any other First Lien Lender is required in any Insolvency Proceeding or otherwise to turn over or otherwise pay to the estate of any Obligor any amount (a “Recovery”), then the relevant First Lien Debt shall be
reinstated to the extent 

 
of such Recovery and the First Lien Agent or such First Lien Lender shall be entitled to all of the rights and remedies with respect to such Recovery under the First Lien Lender Documents or
otherwise that it would have had if it had not received the payment that formed the basis for such Recovery. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such
prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement. 
 6.7 Reorganization Securities. If, in any Insolvency Proceeding, debt obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor are distributed, pursuant to
a plan of reorganization or similar dispositive restructuring plan, both on account of First Lien Debt and Noteholder Debt, then, to the extent the debt obligations distributed on account of First Lien Debt and Noteholder Debt are secured by Liens
on the same property, the provisions of this Agreement will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations. 

6.8 Asset Sales in Bankruptcy. The Second Lien Agent, for each of the Noteholders, agrees that it will not object to or oppose a
sale or other disposition of any Collateral or other assets, properties or capital stock securing the First Lien Debt (or any portion thereof) free and clear of security interests, liens or other claims under Section 363 of the Bankruptcy Code
or any other provision of the Bankruptcy Code if the First Lien Agent has consented to such sale or disposition, provided that the Liens of the Second Lien Agent in such Collateral attach to the proceeds thereof from such sale with the same
priority relative to the Liens of the First Lien Lenders as its Liens in such Collateral, and provided further that the Second Lien Agent and the Noteholders may assert any objection to such sale or other disposition that could be asserted by an
unsecured creditor in any Insolvency Proceeding; without limiting the foregoing, neither the Second Lien Agent nor any other Noteholder may raise any objections based on rights afforded by Sections 363(e) and (f) of the Bankruptcy Code to
secured creditors (or any comparable provisions of any other applicable bankruptcy law) with respect to the Liens granted to such person in respect of such assets. 
 6.9 Agreement Not to Commence Insolvency Proceeding. The Second Lien Agent, for and on behalf of the Noteholders, agrees not to initiate or prosecute or encourage any other person to initiate or
prosecute any Insolvency Proceeding prior to the First Lien Lender Termination Date without the consent of the First Lien Agent. 
 6.10 Post-Petition Interest. The Second Lien Agent, on behalf of itself and the other Noteholders, agrees that none of them shall contest (or support any other Person in contesting) any request by
the First Lien Agent or any of the other First Lien Lenders for the allowance of a claim for post-petition interest (whether at the default rate or otherwise). To the extent the First Lien Lenders are awarded or otherwise granted an allowed claim in
any Insolvency Proceeding with respect to post-petition interest, nothing herein shall prevent the Second Lien Agent from seeking or otherwise asserting a claim for post-petition interest to the extent of the value of the Lien of the Second Lien
Agent and the Noteholders on the Collateral (after taking into account the First Lien Debt). 

 Section 7. Second Lien Noteholders’ Purchase Option. 

7.1 Exercise of Option. On or after the occurrence and during the continuance of an event of default under the First Lien Credit
Agreement and either the acceleration of all of the First Lien Debt or the receipt by the Second Lien Agent of written notice from the First Lien Agent of its intention to commence to foreclose or take any similar action to realize upon the
Collateral as provided in Section 7.5 below, the Noteholders shall have the option at any time within five (5) Business Days of such acceleration or written notice, upon five (5) Business Days’ prior written notice by the
Second Lien Agent to the First Lien Agent, to purchase all (but not less than all) of the First Lien Debt from the First Lien Lenders at the purchase price set forth in Section 7.3. Such notice from the Second Lien Agent to the First Lien Agent
shall be irrevocable. 
 7.2 Purchase and Sale. On the date specified by the Second Lien Agent in such notice (which
shall not be less than three (3) Business Days, nor more than the lesser of (a) five (5) Business Days, after the receipt by the First Lien Agent of the notice from the Second Lien Agent of its election to exercise such option or
(b) ten (10) Business Days after such acceleration or written notice from the First Lien Agent provided pursuant to Section 7.1 above), First Lien Lenders shall, subject to any required approval of any court or Governmental
Authority (as defined in the First Lien Credit Agreement) then in effect, if any, sell to the Noteholders, and the Noteholders shall purchase from First Lien Lenders, all of the First Lien Debt. Notwithstanding anything to the contrary contained
herein, in connection with any such purchase and sale, the First Lien Lenders shall retain all rights under the First Lien Lender Documents to be indemnified or held harmless by the Obligors in accordance with the terms thereof. 

7.3 Payment of Purchase Price. 
 (a) Upon the date of such purchase and sale, the Noteholders shall (i) pay to the First Lien Agent for the account of the First Lien Lenders as the purchase price therefor the full amount of all of
the First Lien Debt then outstanding and unpaid (including principal, interest, fees and expenses, including reasonable attorneys’ fees and legal expenses), (ii) furnish cash collateral to the First Lien Agent in such amounts as the First
Lien Agent determines is reasonably necessary to secure the First Lien Lenders in connection with any issued and outstanding letters of credit issued under the First Lien Lender Documents (but not in any event in an amount greater than one hundred
five (105%) percent of the aggregate undrawn face amount of such letters of credit), (iii) agree to reimburse the First Lien Lenders for any loss, cost, damage or expense (including reasonable attorneys’ fees and legal expenses) in
connection with any commissions, fees, costs or expenses related to any issued and outstanding letters of credit as described above and any checks or other payments provisionally credited to the First Lien Debt, and/or as to which the First Lien
Lenders have not yet received final payment, and (iv) agree to reimburse the First Lien Lenders in respect of any and all indemnification obligations of the Obligors under the First Lien Lender Documents. (b) Such purchase price and cash
collateral shall be remitted by wire transfer in federal funds to such bank account of the First Lien Agent as the First Lien Agent may designate in writing to the Second Lien Agent for such purpose. Interest shall be calculated to but excluding the
Business Day on which such purchase and sale shall occur if the amounts so paid by the Noteholders to the bank account designated by the First Lien Agent are received in such bank account prior to 12:00 noon, New York City time and interest shall be
calculated to and including such Business Day if the amounts so paid by the Noteholders to the bank account designated by the First Lien Agent are received in such bank account later than 12:00 noon, New York City time. 

 7.4 Representations Upon Purchase and Sale. Such purchase shall be expressly made
without representation or warranty of any kind by First Lien Lenders as to the First Lien Debt, the Collateral or otherwise and without recourse to First Lien Lenders, except that each First Lien Lender shall represent and warrant, severally, as to
it: (a) the principal amount of the First Lien Debt being purchased from it are as reflected in the books and records of such First Lien Lender (but without representation or warranty as to the collectibility, validity or enforceability or any
other matter in respect thereof), (b) that such First Lien Lender owns the First Lien Debt being sold by it free and clear of any liens or encumbrances and (c) such First Lien Lender has the right to assign the First Lien Debt being sold
by it and the assignment is duly authorized. Upon the purchase by the Noteholders of the First Lien Debt, the Noteholders agree to indemnify and hold the First Lien Lenders harmless from and against all loss, cost, damage or expense (including
reasonable attorneys’ fees and legal expenses) suffered or incurred by the First Lien Lenders arising from or in any way relating to acts or omissions of the First Lien Agent or any other First Lien Lender after the purchase. 

7.5 Notice from First Lien Agent Prior to Enforcement Action. In the absence of an Exigent Circumstance (as defined below), the
First Lien Agent agrees that it will give the Second Lien Agent five (5) Business Days prior written notice of its intention to commence any foreclosure or other action to sell or otherwise realize upon the Collateral. In the event that during
such five (5) Business Day period, the Second Lien Agent shall send to the First Lien Agent the irrevocable notice of the intention of the Noteholders to exercise the purchase option given by the First Lien Lenders to the Noteholders under this
Section 7, the First Lien Lenders shall not commence any foreclosure or other action to sell or otherwise realize upon the Collateral; provided that, the purchase and sale with respect to the First Lien Debt provided for herein
shall have closed within five (5) Business Days thereafter and the First Lien Lenders shall have received final payment in full of the First Lien Debt as provided for herein within such five (5) Business Day period. Notwithstanding the
foregoing, if an Exigent Circumstance exists, the First Lien Agent will give Second Lien Agent notice as soon as practicable and in any event contemporaneously with the taking of such action. As used herein “Exigent Circumstance”
shall mean an event or circumstance that materially and imminently threatens the ability of the First Lien Agent to realize upon all or any portion of the Collateral, such as, without limitation, a competing claim, fraudulent removal, concealment,
destruction (other than to the extent covered by insurance), material waste or abscondment thereof. 

 Section 8. Reliance; Waivers; etc. 

8.1 Reliance. The consent by the First Lien Lenders to the Lien on the Collateral granted to the Second Lien Agent on behalf of the
Noteholders, and all loans and other extensions of credit made or deemed made on and after the date hereof by the First Lien Agent or any other First Lien Lender to the Obligors, shall be deemed to have been given and made in reliance upon this
Agreement. The First Lien Agent, on behalf of the First Lien Lenders, acknowledges that it and the other First Lien Lenders have, independently and without reliance on the Second Lien Agent or any other Noteholder, and based on documents and
information deemed by them appropriate, made their own credit analysis and decision to enter into the First Lien Credit Agreement, this Agreement and the transactions contemplated hereby and thereby, and they will continue to make their own credit
decision in taking or not taking any action under the First Lien Credit Agreement or this Agreement. The Second Lien Agent, on behalf the Noteholders, acknowledges that it and the other Noteholders have, independently and without reliance on the
First Lien Agent or any other First Lien Lender, and based on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into the Indenture, this Agreement and the transactions contemplated hereby and
thereby, and they will continue to make their own credit decision in taking or not taking any action under the Indenture or this Agreement. 
 8.2 No Warranties or Liability. The First Lien Agent, for and on behalf of the First Lien Lenders, acknowledges and agrees that neither the Second Lien Agent nor any other Noteholder has made any
express or implied representation or warranty, including, without limitation, with respect to the execution, validity, legality, completeness, collectibility, or enforceability of any of the Noteholder Debt or the Noteholder Documents. The Second
Lien Agent, for and on behalf of the Noteholders, acknowledges and agrees that neither the First Lien Agent nor any other First Lien Lender has made any express or implied representation or warranty, including, without limitation, with respect to
the execution, validity, legality, completeness, collectibility, or enforceability of any of the First Lien Debt or the First Lien Lender Documents. The First Lien Agent and the other First Lien Lenders will be entitled to manage and supervise their
respective loans and extensions of credit to the Borrower in accordance with law and as they may otherwise, in their sole discretion, deem appropriate, and the First Lien Agent and the other First Lien Lenders may manage their loans and extensions
of credit without regard to any rights or interests that the Second Lien Agent or any other Noteholder have in the Collateral or otherwise, except as otherwise expressly provided in this Agreement. The First Lien Agent and the other First Lien
Lenders shall have no duty to the Second Lien Agent or any other Noteholder, and the Second Lien Agent and the other Noteholders shall have no duty to the First Lien Agent or any other First Lien Lender, to act or refrain from acting in a manner
which allows, or results in, the occurrence or continuance of an event of default or default under any agreements with any Obligor (including, without limitation, the Noteholder Documents and the First Lien Lender Documents), regardless of any
knowledge thereof which they may have or be charged with. 
 8.3 No Waiver of Lien Priorities. 

(a) No right of the First Lien Agent, the other First Lien Lenders, or any of them, to enforce any provision of this Agreement shall at
any time in any way be prejudiced or impaired by any act or failure to act on the part of any Obligor or by any act or failure to act by the First Lien Agent or any other First Lien Lender, or by any noncompliance by any Person with the terms,

 
provisions and covenants of this Agreement, any of the First Lien Lender Documents or any of the Noteholder Documents, regardless of any knowledge thereof which the First Lien Agent or the other
First Lien Lenders, or any of them, may have or be otherwise charged with. 
 (b) Without in any way limiting the generality of
Section 8.3(a) (but subject to the rights of the Obligors under the First Lien Lender Documents), the First Lien Agent, the other First Lien Lenders, or any of one or more of them, may, at any time and from time to time, without the
consent of, or notice to, the Second Lien Agent or any other Noteholder, without incurring any liabilities to the Second Lien Agent or any other Noteholder and without impairing or releasing the lien priorities and other benefits provided in this
Agreement (even if any right of subrogation or other right or remedy of the Second Lien Agent or any other Noteholder is affected, impaired or extinguished thereby) do any one or more of the following: 

(i) change the manner, place or terms of payment or change or extend the time of payment of, or renew, exchange, amend, increase or alter,
the terms of any of the First Lien Debt or any Lien in any Collateral or guaranty thereof or any liability of any Obligor or any other Person to the First Lien Agent or any other First Lien Lender (including, without limitation, any increase in or
extension of any of the First Lien Debt, without any restriction as to the amount, tenor or terms of any such increase or extension) or otherwise amend, renew, exchange, extend, modify or supplement in any manner any of the First Lien Lender
Documents; 
 (ii) subject to the provisions of this Agreement, sell, exchange, release, surrender, realize upon, enforce or
otherwise deal with in any manner and in any order any part of the Collateral or any liability of any Obligor or any other Person to the First Lien Agent or any other First Lien Lender, or any liability incurred directly or indirectly in respect
thereof; 
 (iii) settle or compromise any First Lien Debt or any other liability of any Obligor or any other Person or any Lien
therefor or any liability incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability (including, without limitation, any of the First Lien Debt) in any manner or order; and

 (iv) exercise or delay in or refrain from exercising any right or remedy against any Obligor or any other Person or any
Collateral or any Lien therefor, elect any remedy and otherwise deal freely with any Obligor or any other Person or any Collateral or any Lien therefor. 
 (c) The Second Lien Agent, on behalf of itself and the other Noteholders, also agrees that the First Lien Agent and the other First Lien Lenders shall have no liability to the Second Lien Agent or any
other Noteholder, and the Second Lien Agent, on behalf of itself and the other Noteholders, hereby waives any claim against the First Lien Agent or any other First Lien Lender, arising out of any and all actions which the First Lien Agent or any
other First Lien Lender may take or permit or omit to take with respect to: (i) any of the First Lien Lender Documents, (ii) the collection of any of the First Lien Debt or (iii) the foreclosure upon, or sale, liquidation or other
disposition of, any of the Collateral. The Second Lien Agent, on behalf of itself and the other Noteholders, agrees that the First Lien Agent and the other First Lien Lenders have no duty to them in respect of the maintenance or preservation of the
Collateral, the First Lien Debt or otherwise. 

 (d) The Second Lien Agent, on behalf of itself and the other Noteholders, agrees not to
assert and hereby waives, to the fullest extent permitted by law, any right to demand, request, plead or otherwise assert or otherwise claim the benefit of, any marshalling, appraisal, valuation or other similar right that may otherwise be available
under applicable law or any other similar rights a junior secured creditor may have under applicable law. 
 8.4 Obligations
Unconditional. All rights, interests, agreements and obligations of the First Lien Agent and the other First Lien Lenders and the Second Lien Agent and the other Noteholders, respectively, hereunder shall remain in full force and effect
irrespective of: 
 (a) any lack of validity or enforceability of any First Lien Lender Documents or any Noteholder Documents;

 (b) any change in the time, manner or place of payment of, or in any other terms of, all or any of the First Lien Debt or
Noteholder Debt, or any amendment or waiver or other modification (including, without limitation, any increase in the amount thereof, whether by course of conduct or otherwise) of the terms of the First Lien Credit Agreement or any other First Lien
Lender Document or of the terms of the Indenture or any other Noteholder Document; 
 (c) any amendment, waiver or other
modification, whether in writing or by course of conduct or otherwise, of all or any of the First Lien Debt or Noteholder Debt or any guarantee thereof; 
 (d) the commencement of any Insolvency Proceeding in respect of any Obligor; or 

(e) any other circumstances which otherwise might constitute a defense available to, or a discharge of, any Obligor in respect of any of
the First Lien Debt, or of the Second Lien Agent or any other Noteholder in respect of this Agreement. 
 Nothing in this
Section 8.4 shall be construed as a consent or waiver by the First Lien Agent or any other First Lien Lender to any action by the Second Lien Agent or the other Noteholders or under any of the Noteholder Documents that is not otherwise
permitted under the First Lien Lender Documents. 
 Section 9. Miscellaneous. 

9.1 Conflicts. In the event of any conflict between the provisions of this Agreement and the provisions of any of the First Lien
Lender Documents or the Noteholder Documents, the provisions of this Agreement shall govern. In the event of any conflict between any instruction, request or direction given by the First Lien Agent to the Second Lien Agent or any other Noteholder
hereunder and any instruction, request or direction given by any First Lien Lender to the Second Lien Agent or any other Noteholder hereunder, the instruction, request or direction given by the First Lien Agent shall govern. 

9.2 Continuing Nature of this Agreement. This Agreement shall continue to be effective until the First Lien Lender Termination
Date shall have occurred. This is a continuing agreement of lien subordination and the First Lien Agent and First Lien Lenders may continue, at any 

 
time and without notice to the Second Lien Agent or any other Noteholder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Obligors in reliance on
this Agreement. The Second Lien Agent, on behalf of itself and the other Noteholders, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall
survive, and shall continue in full force and effect, in any Insolvency Proceeding. 
 9.3 Amendments; Waivers. No
amendment, modification or waiver of any of the provisions of this Agreement shall be deemed to be made unless the same shall be in writing signed by the Second Lien Agent and the First Lien Agent, and each waiver, if any, shall be a waiver only
with respect to the specific instance involved and shall in no way impair the rights of the parties making such waiver or the obligations of the other parties to such party in any other respect or at any other time. The Borrower and Guarantors shall
not have any right to amend, modify or waive any provision of this Agreement, nor shall any consent or signed writing be required of any of them to effect any amendment, modification or waiver of any provision of this Agreement. The First Lien Agent
and the Second Lien Agent agree that they will at the request of the Borrower and at the Borrower’s expense enter into such amendments to this Agreement as may be necessary to add other parties holding any Permitted Additional Pari Passu
Obligations (as defined in the Indenture) (and any agent or trustee therefor) to the extent such obligations are not prohibited by the First Lien Credit Agreement, any other First Lien Lender Document, the Indenture or any other Noteholder Document
and the Borrower delivers an officer’s certificate to such effect to each of the First Lien Agent and the Second Lien Agent and establish that the Lien on the Collateral securing such Permitted Additional Pari Passu Obligations shall be junior
and subordinate in all respects to all Liens on the Collateral securing any First Lien Lenders and shall share in the benefits of the Collateral equally and ratably with all Liens on the Collateral securing any Noteholder Debt, and provide to the
holders of such Permitted Additional Pari Passu Obligations (or any agent or trustee thereof) the comparable rights and benefits (including any improved rights and benefits that have been consented to by the Second Lien Agent) as are provided to the
Noteholders under this Agreement. 
 9.4 Information Concerning Financial Condition of the Borrower and its Subsidiaries.
The First Lien Agent and the other First Lien Lenders, on the one hand, and the Second Lien Agent and the other Noteholders, on the other hand, shall each be responsible for keeping themselves informed of (a) the financial condition of the
Borrower and its subsidiaries and all Obligors in respect of the First Lien Debt or the Noteholder Debt, as the case may be, and (b) all other circumstances bearing upon the risk of nonpayment of the First Lien Debt or the Noteholder Debt. The
First Lien Agent and the other First Lien Lenders shall have no duty to advise the Second Lien Agent or any other Noteholder of information known to it or them regarding such condition or any such circumstances or otherwise and the Second Lien Agent
and the other Noteholders shall have no duty to advise the First Lien Agent or any other First Lien Lender of information known to it or them regarding such condition or any such circumstances or otherwise. In the event the First Lien Agent or any
other First Lien Lender or the Second Lien Agent or any other Noteholder, as applicable, in its or their sole discretion, undertakes at any time or from time to time to provide any such information to the Second Lien Agent or any other from time to
time Noteholder or the First Lien Agent or any other First Lien Lender, as applicable, it or they shall not make any express or implied representation or warranty with respect to such information, including the accuracy, completeness, truthfulness
or 

 
validity thereof, and shall be under no obligation (x) to provide any additional information or to provide any such information on any subsequent occasion, (y) to undertake any
investigation or (z) to disclose any information which, pursuant to accepted or reasonable commercial finance practices, such party wishes to maintain confidential. 
 9.5 Consent to Jurisdiction; Waivers. The parties hereto consent to the exclusive jurisdiction of any state or federal court located in New York, New York, and consent that all service of process
may be made by registered mail directed to such party as provided in Section 9.7 for such party. Service so made shall be deemed to be completed four (4) Business Days after the same shall be posted as aforesaid. The parties hereto
waive any objection to any action instituted hereunder based on forum non conveniens, and any objection to the venue of any action instituted hereunder. Each of the parties hereto waives any right it may have to trial by jury in respect of any
litigation based on, or arising out of, under or in connection with this Agreement, or any course of conduct, course of dealing, verbal or written statement or action of any party hereto. 

9.6 Application of Payments. As between the First Lien Agent and the other First Lien Lenders, on the one hand, and the Second
Lien Agent and the other Noteholders, on the other hand, all payments received by the First Lien Agent or the other First Lien Lenders may be applied, reversed and reapplied, in whole or in part, to such part of the First Lien Debt as the First Lien
Agent and/or the other First Lien Lenders, in their sole discretion, deem appropriate. The Second Lien Agent, on behalf of itself and the other Noteholders, assents to any extension or postponement of the time of payment of the First Lien Debt or
any part thereof and to any other indulgence with respect thereto, to any substitution, exchange or release of any Collateral which may at any time secure any part of the First Lien Debt and to the addition or release of any other Person primarily
or secondarily liable therefor. 
 9.7 Notices. All notices to the Noteholders and the First Lien Lenders permitted or
required under this Agreement shall be sent to the Second Lien Agent and the First Lien Agent, respectively. Unless otherwise specifically provided herein, any notice or other communication herein required or permitted to be given shall be in
writing and may be personally served, telecopied, electronically mailed or sent by courier service or U.S. mail and shall be deemed to have been given when delivered in person or by courier service, upon receipt of a telecopy or electronic mail or
four (4) Business Days after deposit in the U.S. mail (registered or certified, with postage prepaid and properly addressed). For the purposes hereof, the addresses of the parties hereto shall be as set forth below each party’s name on the
signature pages hereto, or, as to each party, at such other address as may be designated by such party in a written notice to all of the other parties. 
 9.8 Further Assurances. The Second Lien Agent, for and on behalf of the Noteholders, agrees that each of them shall take such further action and shall execute and deliver to the First Lien Agent
and the other First Lien Lenders such additional documents and instruments (in recordable form, if requested) as the First Lien Agent or the other First Lien Lenders may reasonably request to effectuate the terms of and the lien priorities
contemplated by this Agreement. The First Lien Agent, for and on behalf of the First Lien Lenders, agrees that each of them shall take such further action and shall execute and deliver to the Second Lien Agent and the Noteholders such additional
documents and instruments (in recordable form, if requested) as the Second Lien Agent or the Noteholders may reasonably request to effectuate the terms of and the lien priorities contemplated by this Agreement. 

 9.9 Governing Law. This Agreement has been delivered and accepted at and shall be
deemed to have been made at New York, New York and shall be governed by and construed and enforced in accordance with the laws of the State of New York. 
 9.10 Specific Performance. Each of the First Lien Agent and Second Lien Agent may demand specific performance of this Agreement. The Second Lien Agent, for and on behalf of the Noteholders, and the
First Lien Agent, for and on behalf of the First Lien Lenders, hereby irrevocably waive any defense based on the adequacy of a remedy at law and any other defense which might be asserted to bar the remedy of specific performance in any action which
may be brought by the First Lien Agent or the Second Lien Agent, as the case may be. 
 9.11 Section Titles; Time Periods;
Capacities. The section titles contained in this Agreement are and shall be without substantive meaning or content of any kind whatsoever and are not a part of this Agreement. In the computation of time periods, unless otherwise specified, the
word “from” means “from and including” and each of the words “to” and “until” means “to but excluding” and the word “through” means “to and including”. All references to the
Borrower or any Guarantor shall include the Borrower or such Guarantor as an obligor under the First Lien Lender Documents, regardless of its capacity as a borrower or guarantor thereunder. 

9.12 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be an original and all of which
shall together constitute one and the same document. Delivery of an executed counterpart of this Agreement by telefacsimile or electronic transmission shall be equally as effective as delivery of an original executed counterpart of this Agreement.
Any party delivering an executed counterpart of this Agreement by telefacsimile or electronic transmission also shall deliver an original executed counterpart of this Agreement, but the failure to deliver an original executed counterpart shall not
affect the validity, enforceability, and binding effect of this Agreement. 
 9.13 Authorization. By its signature, each
Person executing this Agreement on behalf of a party hereto represents and warrants to the other parties hereto that it is duly authorized to execute this Agreement. 
 9.14 Binding on Successors and Assigns; No Third Party Beneficiaries. This Agreement and the obligations, rights and benefits hereof shall bind and inure to the benefit of the First Lien Agent and
the other First Lien Lenders and their respective successors and assigns and the Second Lien Agent and the other Noteholders and their respective successors and assigns. No other Person shall have or be entitled to assert rights or benefits
hereunder. 
 9.15 The Second Lien Agent. Each party hereto hereby acknowledges and agrees that the Second Lien Agent is
entering into this Agreement solely in its capacity as Second Lien Agent under the Noteholder Documents and not in its individual capacity. The Second Lien Agent shall not be deemed to owe any fiduciary duty to the First Lien Agent or the other
First Lien Lenders. The Second Lien Agent undertakes to perform and observe only such covenants and obligations as are specifically set forth herein, and no implied covenants or obligations shall be read into this Agreement against the Second Lien
Agent. 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above. 
  

							
	FIRST LIEN AGENT:	 		 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as
		 		 	First Lien Agent
				
		 		 	By:	 	  

		 		 	Name:	 	
		 		 	Title:	 	
			
	SECOND LIEN AGENT:	 		 	[                           
 ],
		 		 	as Second Lien Agent
				
		 		 	By:	 	  

		 		 	Name:	 	
		 		 	Title:	 	

 ACKNOWLEDGMENT 

Borrower and each of Borrower’s undersigned Subsidiaries each hereby acknowledge that they have received a copy of the foregoing
Intercreditor Agreement (as in effect on the date hereof, the “Initial Intercreditor Agreement”) and agree to recognize all rights granted by the Initial Intercreditor Agreement to First Lien Agent, the other First Lien Lenders,
Second Lien Agent, and the Noteholders, waive the provisions of Section 9-615(a) of the UCC in connection with the application of proceeds of Collateral in accordance with the provisions of the Initial Intercreditor Agreement, agree that they
will not do any act or perform any obligation which is not in accordance with the agreements set forth in the Initial Intercreditor Agreement. Borrower and each of Borrower’s undersigned Subsidiaries each further acknowledge and agree that they
are not an intended beneficiary or third party beneficiary under the Initial Intercreditor Agreement, as amended, restated, supplemented, or otherwise modified hereafter. 
 ACKNOWLEDGED AS OF THE DATE FIRST WRITTEN ABOVE: 
  

							
	 BORROWER:
	 		 	GENCORP INC.,
		 		 	an Ohio corporation
				
		 		 	By:	 	  

		 		 	Name:	 	Kathleen E. Redd
		 		 	Title:	 	Vice President and Chief Financial Officer
			
	GUARANTORS:	 		 	AEROJET-GENERAL CORPORATION,
		 		 	an Ohio corporation
				
		 		 	By:	 	  

		 		 	Name:	 	Kathleen E. Redd
		 		 	Title:	 	Vice President and Chief Financial OfficerEX-4.1

 EXHIBIT 4.1 
  

 
 Suite 2200 – 130 Adelaide Street West 

Toronto, Ontario M5H 3P5 
 416-368-9932 
  
  

ANNUAL INFORMATION FORM 
 for the year ended December 31, 2011 
  

 
 March 29, 2012 

 ANNUAL INFORMATION FORM - 2011 
  
 ALAMOS GOLD INC. 
 ANNUAL INFORMATION FORM 
 TABLE OF CONTENTS 

 

					
	 	  	Page	 
		
	 ALAMOS GOLD INC.
	  	 	1	 
		
	 PRELIMINARY NOTES
	  	 	4	 
		
	 GLOSSARY
	  	 	6	 
		
	 CORPORATE STRUCTURE
	  	 	12	 
		
	 Name and Incorporation
	  	 	12	 
		
	 Intercorporate Relationships
	  	 	12	 
		
	 GENERAL DEVELOPMENT OF THE BUSINESS
	  	 	13	 
		
	 Three-Year History
	  	 	13	 
		
	 NARRATIVE DESCRIPTION OF THE BUSINESS
	  	 	16	 
		
	 Aği Daği and Kirazlı Projects
	  	 	18	 
		
	 Sales and Refining
	  	 	18	 
		
	 Employees
	  	 	19	 
		
	 Risk Factors
	  	 	19	 
		
	 SALAMANDRA CONCESSIONS & MULATOS MINE IN MEXICO
	  	 	28	 
		
	 Project Description and Location
	  	 	28	 
		
	 Access, Climate, Communication, Power
	  	 	31	 
		
	 History
	  	 	31	 
		
	 Mineralization
	  	 	32	 
		
	 Exploration
	  	 	32	 
		
	 Logging, Sampling Methodology, Sample Preparation, Analysis, Sample Custody
	  	 	39	 
		
	 Metallurgy
	  	 	41	 
		
	 Mineral Resources
	  	 	42	 
		
	 Mineral Reserves
	  	 	43	 
		
	 Qualified Person(s) Disclosure
	  	 	44	 
		
	 Mining Operations
	  	 	45	 
		
	 Outlook
	  	 	47	 
		
	 AĞI DAĞI & KIRAZLI PROJECTS IN TURKEY
	  	 	47	 
		
	 Project Description and Location
	  	 	48	 
		
	 Access, Climate, Communication, Power
	  	 	49	 
		
	 Mineralization
	  	 	50	 
		
	 Mineral Resource
	  	 	58	 
		
	 DIVIDENDS
	  	 	60	 
		
	 DESCRIPTION OF CAPITAL STRUCTURE
	  	 	61	 
		
	 Common Shares
	  	 	61	 
		
	 MARKET FOR SECURITIES
	  	 	61	 
		
	 Trading Price and Volume
	  	 	61	 
		
	 PRIOR SALES
	  	 	62	 

  
  

2 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  

					
		
	 DIRECTORS AND OFFICERS
	  	 	62	 
		
	 Cease Trade Orders or Bankruptcies
	  	 	63	 
		
	 Conflicts of Interest
	  	 	64	 
		
	 AUDIT COMMITTEE
	  	 	65	 
		
	 Composition of the Audit Committee
	  	 	65	 
		
	 Relevant Education and Experience
	  	 	65	 
		
	 Reliance on Certain Exemptions
	  	 	65	 
		
	 Reliance on the Exemption in Subsection 3.3(2) or Section 3.6
	  	 	65	 
		
	 Reliance on Section 3.8
	  	 	65	 
		
	 Audit Committee Oversight
	  	 	65	 
		
	 Pre-approval Policies and Procedures
	  	 	65	 
		
	 External Auditor Service Fees (Category)
	  	 	66	 
		
	 INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS
	  	 	66	 
		
	 TRANSFER AGENT AND REGISTRAR
	  	 	66	 
		
	 LEGAL PROCEEDINGS
	  	 	66	 
		
	 MATERIAL CONTRACTS
	  	 	66	 
		
	 INTERESTS OF EXPERTS
	  	 	66	 
		
	 ADDITIONAL INFORMATION
	  	 	66	 
		
	 Organization
	  	 	67	 
		
	 Purpose
	  	 	67	 
		
	 Composition
	  	 	67	 
		
	 Authority
	  	 	67	 
		
	 Responsibilities
	  	 	68	 
		
	 Specifically Delegated Duties
	  	 	69	 
		
	 Accounting and Financial
	  	 	69	 
		
	 Treasury Related
	  	 	70	 
		
	 Meetings and Proceedings
	  	 	70	 
		
	 Self-Assessment
	  	 	71	 

  
  

3 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 ANNUAL INFORMATION FORM 
 (the “AIF”) 
 ALAMOS GOLD INC. 

(the “Company”) 
 PRELIMINARY NOTES 
 Effective Date of Information 

The information in this AIF is current as of March 29, 2012, unless otherwise stated herein. 

Currency and Exchange Rates 
 All
dollar amounts in this AIF are expressed in United States dollars, unless otherwise indicated (“CAD” denotes Canadian dollars). The following table sets forth the value of the Canadian dollar expressed in United States dollars on
December 31 of each year and the average, high and low exchange rates during the year indicated based on the noon rate of exchange as reported by the Bank of Canada: 

 

							
	 Canadian Dollars into
 United States Dollars
	  	2011    	  	2010    	  	2009  
	 Closing
	  	$0.9833    	  	$1.0054    	  	$0.9555  
	 Average
	  	$1.0114    	  	$0.9710    	  	$0.8757  
	 High
	  	$1.0583    	  	$1.0054    	  	$0.9755  
	 Low
	  	$0.9430    	  	$0.9278    	  	$0.7653  

 The noon rate of exchange on March 29, 2012, as reported by the Bank of Canada for the conversion of Canadian
dollars into United States dollars was CAD$1.00 equals US$1.00. 
 Imperial Equivalents 

For ease of reference, the following factors for converting metric measurements to imperial equivalents are provided: 

 

					
	To Convert From Metric	 	
To Imperial	  	Multiply by
	 Hectares
	 	Acres	  	2.471
	 Metres
	 	Feet (ft.)	  	3.281
	 Kilometres (km.)
	 	Miles	  	0.621
	 Tonnes
	 	Tons (2000 pounds)	  	1.102
	 Grams/tonne
	 	Ounces (troy/ton)	  	0.029

  
  

4 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Forward-Looking Statements 
 This AIF contains forward-looking statements concerning the Company’s plans for its properties and other matters, within the meaning of the United States Private Securities Litigation Reform Act 1995
and applicable Canadian securities laws. Forward-looking statements include, but are not limited to, statements with respect to commercial mining operations, regulatory requirements, permitting risks, anticipated metal recoveries, projected
quantities of future metal production, metal prices and price volatility, anticipated production rates and mine life, operating efficiencies, capital budgets, costs and expenditures and conversion of mineral resources to proven and probable
reserves, analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. 
 Statements concerning proven and probable reserves and mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the
mineralization that will be encountered if the property is developed, and in the case of mineral resources or proven and probable reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be
economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, budgets, forecasts, projections, schedules, 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. 

Some of the important risks and uncertainties that could affect forward looking statements are described in this AIF under “Narrative Description of
the Business – Risk Factors”. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements.
Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date the statements are made and, other than as required by applicable securities laws, the Company undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements. 

Mineral Reserve and Resource Estimates 
 All mineral reserve and resource estimates contained in this AIF are calculated in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101”) of the
Canadian Securities Administrators (“CSA”) and Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Standards. In particular, and without limiting the generality of the foregoing, the definitions of proven and probable
reserves used in NI 43-101 differ from the definitions in the Securities and Exchange Commission (“SEC”) Industry Guide 7. Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to
report proven and probable reserves, the three-year historical average gold price is used in any reserve or cash flow analysis to designate proven and probable reserves and the primary environmental analysis or report must be filed with the
appropriate governmental authority. While the terms “mineral resource,” “measured mineral resource,” “indicated mineral resource,” and “inferred mineral resource” are recognized and required by Canadian
regulations, they are not defined terms under the SEC standards in the United States. As such, information contained in this AIF concerning descriptions of mineralization and resources under Canadian standards may not be comparable to similar
information made public by U.S. companies subject to the reporting and disclosure requirements of the SEC. “Indicated mineral resource” and “inferred mineral resource” have a greater amount of uncertainty as to their existence
and economic and legal feasibility. It cannot be assumed that all or any part of an “indicated mineral resource” or “inferred mineral resource” will ever be upgraded to a higher category of resource. Investors are cautioned not
to assume that any part or all of the mineral deposits in these categories or in the measured mineral resource category will ever be converted into proven and probable reserves. 

  
  

5 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 GLOSSARY 
 In this AIF unless otherwise defined or unless there is something in the subject matter or context inconsistent therewith, the following terms have the meanings set forth herein or therein: 

 

			
	“Ag”	  	Silver.
		
	“Aği Daği and Kirazlı Projects”	  	Advanced-stage gold development projects located in the Çanakkale province in the Biga Peninsula of northwestern Turkey. The Aği Daği property (the “Aği
Daği Project”) consists of 10,514 hectares of mineral tenure in fifteen (15) contiguous licences. The Kirazlı property (the “Kirazli Project”) is situated 25 kilometres to the northwest of the Aği Daği property and
consists of 1,541 hectares of mineral tenure in two (2) contiguous licenses.
		
	“Alamos Minerals”	  	Alamos Minerals Ltd., a company which amalgamated with National Gold on February 21, 2003 to form the Company.
		
	“Au”	  	Gold.
		
	“Çamyurt Project”	  	An early-stage development mineral project located approximately three km southeast of the Company’s Ağı Dağı Project.
		
	“Company” or “Alamos”	  	Alamos Gold Inc., including, unless the context otherwise requires, the Company’s subsidiaries.
		
	“Cu”	  	Copper.
		
	“dacite”	  	The extrusive (volcanic) equivalent of quartz-diorite.
		
	“dome”	  	An uplift or anticlinal structure, either circular or elliptical in outline, in which the rocks dip gently away in all directions.
		
	“dore”	  	Unrefined gold and silver bullion bars, which will be further refined to almost pure metal.
		
	“EIA”	  	Environmental Impact Assessment report.
		
	“Ejido”	  	Mulatos Ejido, a local community of people who own the surface rights to an area of land covering all of the known mineral deposits in the Mulatos area of the Salamandra
Concessions.
		
	“feasibility study”	  	A comprehensive study of a deposit in which all geological, engineering, operating, economic and other relevant factors are considered in sufficient detail that it could reasonably
serve as the basis for a final decision by a financial institution to finance the development of the deposit for mineral production.
		
	“Fronteer”	  	Fronteer Development Group Inc., the 40% vendor of the Aği Daği and Kirazlı Projects.
		
	“Fronteer Teck Agreement”	  	The share purchase agreement among Teck, Fronteer, the Company, Teck Madencilik Sanayi Ticaret A.S., Fronteer Investment Inc. and Fronteer Eurasia Madencilik Anonim Sirketi dated
December 7, 2009 pursuant to which the Company acquired all of the issued and outstanding shares in the capital of Kuzey Biga Madencilik Sanayi Ticaret A.Ş, Doğu Biga Madencilik Sanayi Ticaret A.Ş and Alamos Eurasia Madencilik
A.Ş, Turkish subsidiaries of Fronteer and Teck which were the vendors of the Aği Daği and Kirazlı Projects.
		
	“grade”	  	Term used to indicate the concentration of an economically desirable mineral or element in its host rock as a function of its relative mass. With gold, this term may be expressed as
grams per tonne (g/t) or ounces per tonne (opt).
		
	“HQ diameter”	  	2.4 inch diameter drill hole.

  
  

6 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  

			
	“IFRS”	  	International financial reporting standards, the accounting principles used by the Company.
		
	“indicated resource” or “indicated mineral resource”	  	That part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow
the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through
appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.
		
	“inferred resource” or “inferred mineral resource”	  	That part of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not
verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.
		
	“Kennecott”	  	Kennecott Minerals Company.
		
	“Kennecott Assignment Agreement”	  	An assignment agreement between Royal Gold and Kennecott dated January 5, 2006 whereby Kennecott assigned its 30% interest in the Placer Kennecott Royalty to Royal
Gold.
		
	“km”	  	Kilometres.
		
	“leaching”	  	The separation, selective removal or dissolving-out of soluble constituents from a rock or ore body by the natural actions of percolating solutions.
		
	“m”	  	Metres.
		
	“Mill Technical Report”	  	A technical report prepared for the Company by Joseph M. Keane, P.E., of KD Engineering entitled “Minas de Oro Nacional, S.A. de C.V. – Mulatos Project – Mill
Technical Report” dated April 17, 2009.
		
	“the Mine” or “the Mulatos Mine”	  	The Mulatos Mine consists of an open pit heap leach operation located within the Company’s Salamandra Concessions in Sonora, Mexico.
		
	“Mineral Reserve”	  	The economically mineable part of a measured or indicated mineral resource demonstrated by at least a preliminary feasibility study. The study must include adequate information on
mining, processing, metallurgical, economics and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. A mineral reserve includes diluting materials and allowances for losses that occur when
the material is mined and processed.
		
	“M3” or “M3 Engineering”	  	M3 Engineering and Technology Corporation.
		
	“M3 July 14, 2004 Report”	  	A technical report prepared for the Company by M3 Engineering entitled “Technical Report – the Estrella Pit Development Mulatos Sonora Mexico” dated June 17, 2004 (as
revised July 14, 2004) which incorporates a summary of technical information from the 2004 Feasibility Study.
		
	“measured resource” or “measured mineral resource”	  	That part of a mineral resource for which quantity, grade or quality, densities, shape, physical characteristics are so well established that they can be estimated with confidence
sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and
testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity.
		
	“Minera San Augusto”	  	Minera San Augusto, S.A. de C.V., owned 70% by Placer Dome and 30% by Kennecott, and the original vendor of the Salamandra Concessions.

  
  

7 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  

			
	“mineral resource”	  	A concentration or occurrence of natural, solid, inorganic or fossilized organic material in or on the earth’s crust in such form and quantity and of such grade or quality that
it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge. The term
“mineral resource” covers mineralization and natural material of intrinsic economic interest which has been identified and estimated through exploration and sampling and within which mineral reserves may subsequently be defined by the
consideration and application of technical, economic, legal, environmental, socio-economic and governmental factors. The phrase “reasonable prospects for economic extraction” implies a judgment by the Qualified Person in respect of the
technical and economic factors likely to influence the prospect of economic extraction. A mineral resource is an inventory of mineralization that under realistically assumed and justifiable technical and economic conditions might become economically
extractable. The term “mineral resource” used in this AIF is a Canadian mining term as defined in accordance with NI 43- 101 under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”)
Standards on Mineral Resource and Mineral Reserves Definitions and guidelines adopted by the CIM Council on August 20, 2000 (the “CIM Standards”).
		
	“MON” or “Minas de Oro Nacional”	  	Minas de Oro Nacional, S.A. de C.V. (formerly, O.N.C. de Mexico, S.A. de C.V.), a Mexican corporation which is a wholly-owned subsidiary of the Company.
		
	“National Gold”	  	National Gold Corporation, a British Columbia company which amalgamated with Alamos Minerals on February 21, 2003 to form the Company.
		
	“net smelter return royalty/Net Smelter Royalty”	  	A payment made by a producer of metals based on the value of the gross metal production from the property, less deduction of certain limited costs including, but not necessarily
limited to, smelting, refining, transportation and insurance costs.
		
	“New Surface Agreement”	  	A surface rights agreement dated May 27, 2004 between Minas de Oro Nacional and the Ejido regarding a lease of surface rights required to perform different mining works and
activities and to set up infrastructure for the Company’s exploration and exploitation of certain mining concessions on the Salamandra Concessions. The New Surface Agreement supersedes the 1995 Surface Agreement.
		
	“NI 43-101”	  	National Instrument 43-101 – Standards of Disclosure for Mineral Projects. A rule developed by the Canadian Securities Administrators (an umbrella group of Canada’s
provincial and territorial securities regulators) that governs public disclosure by mining and mineral exploration issuers. The rule establishes certain standards for all public disclosure of scientific and technical information concerning mineral
projects.
		
	“NQ diameter”	  	1.75 inch diameter drill hole.
		
	“ore”	  	A natural aggregate of one or more minerals which, at a specified time and place, may be mined and sold at a profit, or from which some part may be profitably
separated.
		
	“ounces” or “oz”	  	A measure of weight in gold and other precious metals, correctly troy ounces, which weigh 31.2 grams as distinct from an imperial ounce which weighs 28.4 grams.
		
	“Placer” or “Placer Dome”	  	Placer Dome Inc., which was acquired by Barrick Gold Corporation (“Barrick”) and amalgamated with Barrick in 2006.

  
  

8 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  

					
	“Placer Assignment Agreement”	 	An assignment agreement between Royal Gold and Barrick dated October 1, 2008 whereby Barrick assigned its 70% interest in the Placer Kennecott Royalty to Royal
Gold.
		
	“Placer Kennecott Royalty” or “Royal Gold Royalty”	 	A royalty that is currently payable to Royal Gold pursuant to the Kennecott Assignment Agreement and the Placer Assignment Agreement. Under the RTE Agreement, a royalty
payable to Tenedoramex and Kennecott on an aggregate basis and divided between them, beginning on the date of commencement of commercial production until such time as the first 2,000,000 ounces of gold have been mined, processed and sold (or deemed
sold) from the Salamandra Concessions:
			
		 	 i.
	  	2% of the Net Smelter Returns (as defined in the RTE Agreement) in respect of all Products (as defined in the RTE Agreement) mined and sold (or deemed sold) by Minas de Oro Nacional
from the Salamandra Concessions; and
			
		 	 ii.
	  	the applicable percentage based on the average Gold Price (as defined in the RTE Agreement) as published in the Wall Street Journal for the calendar quarter in which the royalty is
payable of the Net Smelter Returns in respect of all silver and gold Products (as defined in the RTE Agreement) mined and sold (or deemed sold) by Minas de Oro Nacional from the Salamandra Concessions as follows:

  

					
	Gold Price Range	  	 Net Smelter Return

Royalty 100% Basis
	  	 
	 US$0.00/oz to US$299.99/oz
	  	1.0%	  	
	 US$300.00/oz to US$324.99/oz
	  	1.5%	  	
	 US$325.00/oz to US$349.99/oz
	  	2.0%	  	
	 US$350.00/oz to US$374.99/oz
	  	3.0%	  	
	 US$375.00/oz to US$399.99/oz
	  	4.0%	  	
	 US$400.00/oz or higher
	  	5.0%	  	

  

			
		  	The term “Products” (as defined in the RTE Agreement) means ores, minerals, or other commercially valuable products, except any fraction thereof comprising or deemed to
comprise Gold and Silver Products, mined from the Salamandra Concessions.
		
		  	The term “Gold and Silver Products” (as defined in the RTE Agreement) means ores, minerals, or other commercially valuable products containing gold or silver mined from
the Salamandra Concessions, provided that where such products contain a combination of gold and silver and other commercially viable metals or minerals, Gold and Silver Products shall be deemed to comprise that fraction of such products as
represents the proportionate commercial value of the gold and silver contained in such products, with the remaining fraction of such products deemed to be Products.
		
	“ppm”	  	parts per million.
		
	“ppb”	  	parts per billion.
		
	“PQ diameter”	  	3.2-inch drill hole diameter.
		
	“preliminary feasibility study”	  	A comprehensive study of the viability of a mineral project that has advanced to a stage where the mining method, in the case of underground mining, or the pit configuration, in the
case of an open pit, has been established and an effective method of mineral processing has been determined, and includes a financial analysis based on reasonable assumptions of technical, engineering, legal, operating, economic, social, and
environmental factors and the evaluation of other relevant factors which are sufficient for a Qualified Person, acting reasonably, to determine if all or part of the Mineral Resource may be classified as a Mineral Reserve.

  
  

9 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  

					
		
	“probable mineral reserve”	  	The economically mineable part of an indicated and, in some circumstances, a measured mineral resource demonstrated by at least a preliminary feasibility study. This
study must include adequate information on mining, processing, metallurgical, economics and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified.
		
	“proven mineral reserve” or “proven reserve”	  	The economically mineable part of a measured mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on
mining, processing, metallurgical, economics and other relevant factors that demonstrate, at the time of reporting, that economic extraction is justified.
		
	“QA/QC”	  	Quality assurance/quality control.
		
	“Qualified Person”	  	Conforms to that definition under NI 43-101 for an individual:
			
		  	 (a)
	  	is an engineer or geoscientist with a university degree, or equivalent accreditation, in an area of geoscience, or engineering, relating to mineral exploration or
mining;
			
		  	 (b)
	  	has at least five years of experience in mineral exploration, mine development or operation or mineral project assessment, or any combination of these, that is relevant to his or
her professional degree or area of practice;
			
		  	 (c)
	  	has experience relevant to the subject matter of the mineral project and the technical report;
			
		  	 (d)
	  	is in good standing with a professional association; and
			
		  	 (e)
	  	in the case of a professional association in a foreign jurisdiction, has a membership designation that: (i) requires attainment of a position of responsibility in their
profession that requires the exercise of independent judgment; and (ii) requires a favourable confidential peer evaluation of the individual’s character, professional judgement, experience, and ethical fitness or a recommendation for membership
by at least two peers, and demonstrated prominence or expertise in the field of mineral exploration or mining;
		
	Royal Gold	  	Royal Gold Inc. is a royalty holding company that acquired the 30% Kennecott portion of the Placer Kennecott Royalty effective January 5, 2006, and acquired the other
70% of the royalty from Barrick effective October 1, 2008.
		
	“RQD”	  	Rock quality designation.
		
	“RTE Agreement”	  	A royalty agreement between Minas de Oro Nacional and Minera San Augusto dated March 23, 2001 describing, among other things, the Placer Kennecott
Royalty.
		
	“Salamandra Concessions”	  	The Salamandra group of mineral concessions held by the Company’s Mexican subsidiary, Minas de Oro Nacional, currently comprising an area of approximately 30,536
hectares in 44 concessions located in the State of Sonora, Mexico.
		
	“Scoping Study or Preliminary Economic Assessment”	  	A technical report prepared for the Company by KD Engineering entitled “Technical report on the Aği Daği- Kirazlı Gold Project, Çanakkale
Province, Republic of Turkey” dated March 12, 2010 and filed at www.sedar.com on March 29, 2010.
		
	“Teck”	  	Teck Resources Limited, the 60% vendor of the Aği Daği and Kirazlı Projects.
		
	“Tenedoramex”	  	Tenedoramex S.A., a wholly owned subsidiary of Placer Dome and a 70% owner of Minera San Augusto.
		
	“tpd”	  	Tonnes per day.
		
	“TSX”	  	The Toronto Stock Exchange.

  
  

10 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  

			
	“TSXV”	  	The TSX Venture Exchange.
		
	“1995 Surface Agreement”	  	A surface rights agreement dated November 26, 1995 between Minera San Augusto and the Mulatos Ejido regarding a lease of surface rights required to perform different mining works
and activities and to set up infrastructure for the Company’s exploration and exploitation of certain mining concessions on the Salamandra Concessions.
		
	“2004 Feasibility Study”	  	“Mulatos Feasibility Study Phase One - Estrella Pit” dated June 1, 2004, prepared by M3 Engineering containing a feasibility study of the Estrella zone within the Mulatos
deposit on the Salamandra Concessions filed at www.sedar.com on July 22, 2004.

  
  

11 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 CORPORATE STRUCTURE 
 Name and Incorporation 
 The name of the Company is “Alamos Gold Inc.”. The
Company’s principal place of business is located at Suite 2200, 130 Adelaide Street West, Toronto, Ontario, Canada M5H 3P5, telephone: 416-368-9932, facsimile: 416-368-2934. The Company has administration offices in Hermosillo, Mexico and in
Ankara, Turkey. The registered and records office of the Company is located at Suite 3350, Four Bentall Centre, 1055 Dunsmuir Street, P.O. Box 49222, Vancouver, British Columbia, Canada V7X 1L2. 

The Company was formed by the amalgamation of Alamos Minerals, a company incorporated under the laws of the Province of British Columbia, and National
Gold, a company incorporated under the laws of the Province of Alberta and continued into the Province of British Columbia under the former Company Act (British Columbia) on February 21, 2003 (the “Amalgamation”) with the resulting
amalgamated company continuing under the name “Alamos Gold Inc.”. The Business Corporations Act (British Columbia) (the “New Act”), which superseded the Company Act (British Columbia), came into force on March 29, 2004 and
on July 15, 2004, after obtaining shareholder approval, the Company altered its Notice of Articles to increase its authorized capital from 1,000,000,000 common shares without par value to an unlimited number of common shares without par value
and adopted new Articles that take advantage of certain business flexibilities available under the New Act. 
 Intercorporate Relationships

 In this AIF, unless the context otherwise requires, the terms “we”, “us”, “our”, and similar terms as well
as references to “Alamos” or the “Company” refer to Alamos Gold Inc. together with its subsidiaries. As at March 29, 2012, the following diagram sets forth the Company’s intercorporate relationships with its active
subsidiaries including the jurisdiction of incorporation or organization and the Company’s respective percentage ownership of each subsidiary. 
  

 
  

	(1) 	 Minas de Oro Nacional has an authorized and issued and outstanding share capital of an aggregate of 50,000 fixed shares and 485,624,800 variable
shares. All of the variable shares are registered in the name of the Company. One of the 50,000 outstanding fixed shares of Minas de Oro Nacional is held for the benefit of the Company in the name of John McCluskey, the President, Chief Executive
Officer and a director of the Company. 

  
  

12 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  

	(2) 	 One of the 50,000 outstanding shares of Servicios Administrativos y Operativos MON S.A. de C.V. is held for the benefit of the Company in the name of
John McCluskey, the President, Chief Executive Officer and a director of the Company. 

	(3) 	 Alamos Eurasia Madencilik A.S. (“Alamos Eurasia”) has authorized and issued and outstanding share capital of an aggregate of 547,003 shares.
The shares of Alamos Eurasia are distributed with 546,999 to Alamos, and one share each is held for the benefit of the Company by the following officers of the Company: Jamie Porter, Manley Guarducci, Charles Tarnocai and Han Ilhan.

	(4) 	 Kuzey Biga Madencilik Sanayi Ticaret A.Ş (“Kuzey Biga”) has authorized and issued and outstanding share capital of 39,492,842 shares.
The shares of Kuzey Biga are distributed with 32,997,042 to Alamos, 6,495,500 shares to Alamos Eurasia, and 100 shares each held for the benefit of the Company by the following officers of the Company: Charles Tarnocai, Manley Guarducci and Han
Ilhan. 

	(5) 	 Doğu Biga Madencilik Sanayi Ticaret A.Ş. (“Dogu Biga”) has authorized and issued and outstanding share capital of 8,113,000 shares.
The shares of Dogu Biga are distributed with 4,867,600 to Alamos, 3,245,100 shares to Alamos Eurasia, and 100 shares each held for the benefit of the Company by the following officers of the Company: Charles Tarnocai, Manley Guarducci and Han Ilhan.

 GENERAL DEVELOPMENT OF THE BUSINESS 
 Three-Year History 
 The Company is a gold mining and exploration company engaged in
exploration, mine development, and the mining and extraction of precious metals, primarily gold. The Company’s operating asset is the Mulatos Mine which was acquired in February 2003, and is located within the 30,536-hectare Salamandra
Concessions in the state of Sonora, Mexico. In January 2010, the Company acquired the development-stage Aği Daği and Kirazlı Projects in the Biga district of northwestern Turkey. In 2011, the Company discovered the Çamyurt
Project, located approximately 3 kilometers from the Aği Daği Project, which has the Company believes has the potential to become a stand-alone mining project. 
 Since the start of operations at the Mulatos Mine in Mexico in 2006, the Company has focused on continued operating improvements and conducting exploration programs to increase reserves and resources. In
2011, the Mulatos Mine produced over 150,000 ounces of gold for the fourth consecutive year. 
 On January 6, 2010, the Company completed
the acquisition of the Aği Daği and Kirazlı Projects from Teck and Fronteer under the terms of the Fronteer Teck Agreement. On March 29, 2010, the Company released a technical report (the “Scoping Study”) evaluating the
economic potential of developing the Aği Daği and Kirazlı Projects into producing gold mines. Results of the Scoping Study indicated that these projects are potentially economic, and the Company is proceeding with a preliminary
feasibility study which is expected to be completed in 2012. 
 2009 Developments 

On January 6, 2009, the Company reported fourth quarter and full year 2008 production results. The Company produced 151,000 ounces of gold at a total
cash cost per ounce of $389. The Company also announced production plans for 2009 of between 145,000 and 160,000 ounces at a total cash cost of $350 per ounce. In addition, the Company reported that the drum agglomeration process commenced in
December 2008 and was expected to contribute to improved leach pad recoveries. 
 On January 26, 2009, the Company reported that it had
entered into an agreement with a syndicate of underwriters led by BMO Capital Markets under which the underwriters agreed to buy, on a bought-deal basis, by way of a short-form prospectus, 9.4 million common shares of the Company at a price of
CAD$8.00 per share. On February 17, 2009, the Company announced completion of the bought-deal financing, resulting in the total issuance of 10.41 million common shares at a price of CAD$8.00 per share for gross proceeds of CAD$83.3 million
or net proceeds of CAD$78.8 million. 
 On March 10, 2009, the Company reported 2008 year end financial results. The Company reported an
increase in gold sales revenues by 80% to $133.0 million, and record earnings of $29.4 million ($0.30 per basic share) compared to $2.9 million ($0.03 per share) in 2007. 

  
  

13 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 On March 17, 2009, the Company reported an increase in reserves and global resources as at December 31, 2008 compared to
December 31, 2007. Proven and probable reserves had increased 21%, while measured and indicated resources decreased 14% and inferred resources increased 129%. The updated mineral reserve estimate at December 31, 2009 was calculated using a $700 per
ounce gold price assumption and consisted of proven and probable reserves of 2.05 million contained ounces (47.7 million tonnes grading 1.34 g/t Au). 
 On April 27, 2009, the Company provided an exploration update. Specifically, the Company announced that additional drilling at Escondida had resulted in the identification of two new zones of
mineralization with the potential to provide additional resources. On May 21, 2009, the Company released the Mill Technical Report evaluating the economics of constructing a 500 tpd gravity milling circuit to process high-grade ore (defined as
greater than 3.4 g/t Au). The report confirmed that the development and processing of the Escondida high-grade zone is economically robust, and that 90% or more of the coarse high-grade Escondida ore is recoverable. Other key findings of the report
indicated an initial mill construction cost of $17.5 million (inclusive of a 20% contingency) and expected operating costs of $12.08 per tonne of ore or $40 per ounce of gold. As a result, the Company announced its decision to proceed with
development of the Escondida zone, with production from the mill expected in early 2012. 
 On September 23, 2009, the Company announced
that it had entered into a memorandum of understanding providing for Alamos to acquire 100 percent of the Aği Daği and Kirazlı Projects from Fronteer and Teck (the “vendors”) through the acquisition of certain Turkish
subsidiaries held by Fronteer and Teck. On December 7, 2009, the Company replaced the memorandum of understanding with the Fronteer Teck Agreement, which was finalized subsequent to year-end. 

2010 Developments 
 On
January 6, 2010, the Company reported the acquisition of 100% of the Aği Daği and Kirazlı Projects through the purchase of three Turkish companies held by Teck and Fronteer. The Company paid a total of $40 million cash and issued
an aggregate of 4 million common shares to Teck (as to 60%) and Fronteer (as to 40%) in total consideration. Aği Daği and Kirazlı are advanced-stage development projects that are within the Biga Mineral District, an established
gold-copper mineral district located on the Biga Peninsula of northwestern Turkey. The Company anticipated investing approximately $12.8 million in 2010 on development and exploration activities related to these projects. Actual spending in 2010 was
approximately $9.0 million. 
 On January 7, 2010 the Company reported record quarterly gold production in the fourth quarter of 2009 of
48,000 ounces and full year 2009 production of 178,500 ounces. The primary factor contributing to higher than expected production was higher recoveries, resulting from a variety of operating initiatives implemented throughout the year. The Company
also presented its budget for 2010 of 160,000 to 175,000 ounces of production at a total cash cost (including the 5% royalty) of $338 per ounce. 
 On January 12, 2010 the Company announced that drilling activities in 2009 at the San Carlos project in close proximity to the Mulatos mine were successful at identifying high-grade mineralization,
and that further work was planned to further delineate the deposit in 2010. 
 On March 16, 2010 the Company reported record annual
earnings of $56.0 million ($0.52 per basic share), in addition to announcing an inaugural semi-annual dividend of $0.03 per share payable on April 30, 2010 to shareholders of record on April 15, 2010. 

On March 29, 2010, the Company released the Scoping Study which reported indicated and inferred resources at Aği Daği and Kirazlı,
and that the development of the Aği Daği and Kirazlı Projects was economic at then current gold prices and supported a decision to proceed to the preliminary feasibility study stage. Highlights of the Scoping Study included total
initial and sustaining capital costs (inclusive of a 27% contingency) of $234.7 million, and average annual production of approximately 135,000 ounces of gold and 621,600 ounces of silver over an estimated mine life of approximately 8 years at an
average total cash cost of $314 per ounce (with silver accounted for as a by-product credit). The Scoping Study indicated that these projects are potentially economic, and as a result the Company is proceeding to the preliminary feasibility study
stage. 

  
  

14 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 On March 31, 2010, the Company reported a 17% increase in proven and probable reserves at Mulatos to 2.39 million ounces. The
Company also announced a 13% increase in measured and indicated resources (exclusive of reserves) to 1.88 million ounces and an 11% decline in inferred resources. In addition, the Company reported its intention to expand crushing throughput capacity
through the addition of a screening plant between the secondary and tertiary crushers at an estimated total cost of $6.5 million with completion targeted for the third quarter of 2010. The Company implemented the screening plant in the third quarter
of 2010 at a total cost of approximately $7.3 million. 
 On August 17, 2010, the Company announced that it had completed a settlement
agreement with Primero Mining Corp. (“Primero”, formerly Mala Noche Resources Corp.). In consideration for relinquishing any claim to the San Dimas mine, Primero paid Alamos CAD$1.0 million cash and issued the Company two million common
shares and 800,000 common share purchase warrants, for total consideration valued at CAD$13.0 million. 
 Effective September 17, 2010, the
Company announced a 17% increase to its semi-annual dividend from $0.03 to $0.035 per share. In addition, the Company reported that it had entered into surface right access agreements that would allow exploration activities to commence at the
Company’s El Carricito exploration project, located approximately 20 km from the Mulatos Mine. 
 On December 9, 2010, the Company
outlined its production guidance for 2011. Gold production for 2011 was forecast to be 160,000 to 175,000 ounces at a total cash cost (including the 5% royalty) of between $415 and $430 per ounce. Further, the Company reported plans to spend $48.1
million in capital in Mexico in 2011, focused primarily on production expansion. Development costs related to the Turkish projects were budgeted at $15 million, while exploration expenditures for both Mexico and Turkey were expected to total $18
million. 
 2011 Developments 
 On March 14, 2011, the Company reported a 43% increase to its semi-annual dividend to $0.05 per share payable on May 2, 2011 to shareholders of record on April 15, 2011. 

On March 15, 2011, the Company reported its financial results for the fourth quarter and full year of 2010. The Company produced a total of 156,000
ounces of gold in 2010 at a total cash cost of $361 per ounce of gold sold. Revenues of $189.3 million increased 10% over 2009, and the Company achieved record annual earnings of $65.7 million ($0.57 per basic share), inclusive of a $0.11 per share
gain on completion of the settlement agreement with Primero. 
 On March 24, 2011, the Company announced a 38% increase in measured and
indicated resources, in addition to replacing proven and probable mineral reserves at the Mulatos Mine. 
 On June 16, 2011, the Company
reported that drilling at the Çamyurt Project had delineated a mineralized zone that is continuous for at least 1,100 metres along strike with potential to extend mineralization. An initial mineral resource estimate will be reported in the
second quarter of 2012, and the Company believes that the Çamyurt Project has the potential to be a stand alone mining project. 
 On
September 14, 2011, the Company announced a 40% increase in its semi-annual dividend from $0.05 to $0.07 per common share, payable on October 28, 2011 to shareholders of record on October 14, 2011. 

On September 16, 2011, the Company reported a 19% increase in measured and indicated resources at its Ağı Dağı and Kirazlı
Projects and provided an exploration update on the Çamyurt Project. Measured and indicated mineral resources at Ağı Dağı and Kirazlı increased 19% to 1.96 million ounces of gold, reflecting a 19% increase in
tonnes and no change in the average gold grade compared to the 2010 year-end estimate. 
 Developments Subsequent to 2011 Year End

 On February 23, 2012 the Company reported its financial results for the fourth quarter and 2011 full year. The Company produced a
total of 153,000 ounces in 2011 at a total cash cost of $368 per ounce of gold sold. Operating 

  
  

15 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 
revenues of $227.4 million increased 20% over 2010, and the Company achieved annual earnings of $60.1 million ($0.51 per basic share). The Company also announced a 43% increase to its semi-annual
dividend from $0.07 to $0.10 per share, payable on April 30, 2012 to shareholders of record on April 13, 2012. 
 In addition, the
Company provided 2012 production guidance of between 200,000 and 220,000 ounces of gold at a cash operating cost (before 5% royalty) of between $365 and $390 per ounce. The increase in annual production is attributable to the start up of the mill to
process high-grade ore from the Escondida zone, which is forecast to contribute 67,000 ounces of production in 2012. 

NARRATIVE DESCRIPTION OF THE BUSINESS 
 The Company is a gold mining and exploration company engaged in exploration, mine development, and the mining and extraction of precious metals, primarily gold. The Company’s primary asset is the
Mulatos Mine and its 30,536 hectares of Salamandra Concessions in the state of Sonora, Mexico, acquired on February 21, 2003, by way of amalgamation of National Gold and Alamos Minerals. In addition, on January 6, 2010 the Company acquired
the development-stage Aği Daği and Kirazlı Projects in the Biga district of northwestern Turkey. In 2011, the Company discovered the Çamyurt Project, located approximately 3 kilometers from the Aği Daği Project, which
the Company believes has the potential to become a stand-alone mining project. 
 The Mulatos Mine 

General 
 The Salamandra
Concessions are located in the State of Sonora, Mexico. The Mulatos deposit is located in the Salamandra Concessions and has been developed into the Mulatos Mine. Mineral rights for all concessions comprising the Salamandra Concessions are
controlled by Minas de Oro Nacional, a Mexican company wholly owned by the Company. 
 Portions of the Salamandra Concessions originally
acquired from Placer Dome are subject to the Royal Gold Royalty which applies to the first two million ounces of gold mined, processed or sold from the Mulatos Mine. As at December 31, 2011, the royalty had been paid or accrued on approximately
806,000 ounces of applicable gold production. 
 2004 Feasibility Studyand M3 July 14, 2004 Report 

On June 1, 2004, M3 Engineering and M3 Mexicana Hermosillo Sonora Mexico and Consultants, independent consultants to the Company, completed the 2004
Feasibility Study recommending development of the Estrella Pit portion of the Mulatos deposit. Subsequently, the Company engaged M3 Engineering and M3 Mexicana Hermosillo Sonora Mexico and Consultants to prepare an independent technical report based
on the 2004 Feasibility Study, which is available for review on the SEDAR website at www.sedar.com under the Company’s issuer profile. 

Mine Construction 
 The Company
began construction of the Mulatos Mine, beginning with the Estrella Pit portion, in the third quarter of 2004 and Phase I of the Estrella Pit portion of the Mulatos Mine was completed in January 2006 at a cost of approximately $74 million. Although
the 2004 Feasibility Study plan called for a 10,000 tpd crushing operation, the Company sized the major components of the Mulatos Mine, including the crusher/conveyor and the gold recovery plant, to handle a mining and processing operation with a
capacity of approximately 15,000 tpd. In 2005, an expansion budget of $20 million was approved to increase the scale of mining operations from the 2004 Feasibility Study level of 10,000 tpd. 
 Since 2005, the Mulatos Mine has undergone significant expansion, particularly with respect to crushing capacity. At the start of 2010, the Company commissioned a closed circuit crushing system designed
to improve the size consistency of stacked ore. In October 2010, the Company added a scalping screen plant to the crushing circuit designed to increase throughput. Continued modifications to the crushing circuit aimed at increasing crusher

  
  

16 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 
throughput have been implemented throughout 2011 and early 2012. Average daily crusher throughput in 2011 was 14,100 tpd, up from 13,000 tpd in 2010. In 2012, the Company expects average daily
crusher throughput to increase to approximately 17,000 tonnes per day. 
 In addition to the existing heap leach operations at the Mulatos Mine,
between 2009 and 2012, the Company has developed the Escondida high-grade zone at an approximate cost of $61 million and constructed a mill to process high-grade ore from Escondida at a cost of $20 million. Gold production from the mill is expected
to commence in the first quarter of 2012 and to contribute an additional 67,000 ounces of production in 2012. 
 Pre-commercial Operations

 The Mulatos Mine began operations in 2005 as a run-of-mine conventional open-pit heap-leach operation with a gold recovery plant
consisting of a carbon-in-column circuit. Although not specified in the 2004 Feasibility Study, the Company operated temporarily on a run-of-mine basis to take advantage of gold prices at levels significantly above those considered in the 2004
Feasibility Study. Run-of-mine ore was stacked directly on the leach pad in the period from June 2005 to June 2006. No additional run-of-mine material was stacked on the leach pad effective July 1, 2006, as the crusher was operating near
capacity and gold recoveries from crushed ore are significantly higher than recoveries from run-of-mine ore. 
 Commercial Operations

 The Company announced commercial production at the Mulatos Mine on April 1, 2006. The Mine operates 365 days a year. Daily
production may be affected to some extent by adverse weather, but it would be unusual for adverse weather to cause complete mine stoppage for an extended period. The Company has acquired the surface rights necessary to carry on its current
operations, but may be required to secure additional rights should the Company decide to pursue mining activities outside of the currently permitted concessions. The Company complies with all relevant environmental laws. 

Gold is produced on site as dore containing approximately 60-80% gold by weight. The dore is sent to a refinery for final processing prior to sale.
Refined gold is sold to several counterparties at market prices. Processing chemicals and materials are generally readily available as is diesel fuel, however, the cost of these products delivered to the site has increased significantly from the
feasibility levels. In 2011, the Company experienced short-term disruption of its cyanide supply as a result of its primary cyanide supplier experiencing a flood. Cyanide shipments were reduced in the second quarter of 2011, resulting in lower than
planned production in the second and third quarters of the year. Regular cyanide shipments resumed late in the second quarter and gold production deferred as a result of the cyanide supply disruption was produced in the fourth quarter of the year.
Alternate cyanide suppliers have been sourced and contingency plans are in place in the event that a similar shortage occurs in the future. 

Cost levels have increased significantly from the life-of-mine average cash operating cost of $174 per ounce indicated in the 2004 Feasibility Study
which excluded the royalty and were based on a gold price of $350 per ounce. Unit operating costs are affected by mine operating efficiencies, the waste-to-ore ratio, the cost of mining and processing materials, labour costs, the grade of ore mined
and recoveries achieved. Certain costs such as lime, cyanide and diesel fuel have increased in price substantially since the 2004 Feasibility Study was prepared. 
 In the year ended December 31, 2006, its first year of partial commercial production, the Mulatos Mine produced 101,170 ounces of gold at a cash operating cost of $294 per ounce of gold sold. Since
then the Company has implemented a number of operational improvements contributing to higher levels of gold production. In the year-ended December 31, 2011, the Company produced 153,000 ounces of gold at a cash operating cost of $368 per ounce.

 Total gold sales revenues for 2011 amounted to $234.7 million (2010 - $189.3 million). The Company’s product, gold and to a lesser
extent, silver, is sold to several qualified counterparties for a price that is readily quoted and fluctuates daily. The Company can sell all of its refined metal at the quoted price or contract for a fixed price for future delivery. At
December 31, 2011, the Company had no forward gold sales or other gold hedge positions outstanding. 

  
  

17 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Aği Daği and Kirazlı Projects 
 The Aği Daği and Kirazlı Projects are advanced-stage gold development projects located within the Biga Mineral District, a gold-copper mineral district, which is located in northwestern
Turkey. The Biga Mineral District features a growing number of high-sulfidation epithermal gold and associated porphyry copper-gold deposits. 

Throughout 2010 and 2011, the Company completed 51,200 metres of drilling in 303 holes, which has resulted in substantial increases to mineral resources
at the Aği Daği and Kirazlı Projects. In 2011, the Company discovered the Çamyurt Project, located approximately 3 kilometers from the Aği Daği Project. Based on the results of drilling to-date, the Company believes
that the Çamyurt Project has the potential to become a stand-alone mining project. An initial resource estimate for the Çamyurt Project is expected to be reported in the second quarter of 2012. 

The initial mineral resource estimate published by the Company on the Aği Daği and Kirazlı Projects was completed in conjunction with the
Scoping Study released on March 29, 2010, and reported indicated resources of 63.8 million tonnes grading 0.64 g/t Au and 5.2 g/t Ag for 1.3 million ounces of gold and 10.7 million ounces of silver. In addition, inferred
resources totalled 26.4 million tonnes at 0.74 g/t Au and 8.72 g/t Ag for 0.6 million ounces of gold and 7.4 million ounces of silver. The Scoping Study also indicated that development of the Aği Daği and Kirazlı
Projects was potentially economic and supported a decision to proceed to the preliminary feasibility study stage. 
 In March 2011, the Company
prepared an updated mineral resource estimate as at December 31, 2010 which showed that measured and indicated resources for the Aği Daği and Kirazlı Projects (reported at a 0.2 g/t Au cut-off) had increased to 78.8 million
tonnes at 0.65 g/t Au and 4.22 g/t Ag for 1.6 million ounces of gold and 10.7 million ounces of silver. 
 In September 2011, the
Company released another mineral resource update for the Aği Daği and Kirazlı Projects with measured and indicated resources increasing 19% to 1.96 million ounces of gold and silver measured and indicated resources increasing 44%
to 15.4 million ounces, relative to the December 31, 2010 mineral resource update. The increase was largely attributable to a 19% increase in tonnes to 93.4 million tonnes with no significant change in the average gold grade and was
attributable to the addition of new mineral resources through infill and expansion drilling and an increase in the gold price assumption from $1,025 to $1,150 per ounce. Further drilling throughout the latter part of 2011 was incorporated into the
December 31, 2011 mineral resource update which reflected an increase in measured and indicated resources to 110.1 million tonnes grading 0.65 g/t Au for 2.2 million ounces of gold, representing a 13% increase from the September 2011
mineral resource update for the Ağı Dağı and Kirazlı Projects. In addition to gold, the December 31, 2011 mineral resource updated reported 16.9 million ounces of silver in the measured and indicated categories.

 The Aği Daği and Kirazlı Projects have the potential to be developed into low cost oxide gold heap leach operations. The
projects have established camp facilities, are located on the power grid, and are road accessible. The primary camp facility is located in the town of Etili and consists of a custom built office, 60-person accommodation complex, as well as a core
processing and storage facility. The Company is in the process of preparing a preliminary feasibility study on the Aği Daği and Kirazlı Projects, in addition to undergoing the EIA and permitting processes. 

Uses of Gold 
 Product fabrication and
bullion investment are the two principal uses of gold. Within the fabrication category there are a wide variety of end uses, the largest of which is the manufacture of jewellery. Other fabrication purposes include official coins, electronics,
miscellaneous industrial and decorative uses, dentistry, medals and medallions. 
 Sales and Refining 

Gold can be readily sold on numerous markets throughout the world and it is not difficult to ascertain its market price at any particular time. Because
there are a large number of available gold purchasers, the Company is not dependent upon the sale of gold to any one customer. 

  
  

18 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 The Company’s gold production is currently refined to market delivery standards by Johnson Mathey at a refinery in Salt
Lake City, Utah. The Company believes that, because of the availability of alternative refiners, no material adverse effect would result if one of the Company’s refiners was unable to process its product. 

Employees 
 As of December 31, 2011,
the Company had 16 full time employees at its Toronto corporate head office. Each of these full time employees is employed under a contract for services directly with the parent company. In addition, the Company’s Mexican subsidiary, Servicios
Administrativos y Operativos MON, S.A. de C.V. (“SAO”) provides labour-related services for operations at the Salamandra Concessions and at the administrative offices of Minas de Oro Nacional in Hermosillo, Mexico. As of December 31,
2011, SAO had 484 full-time employees. The Company has sourced most of its labour pool, including skilled mining personnel, from the state of Sonora in Mexico. Competition for highly qualified miners has become intense as more mines are being
brought into production in the area and worldwide. Throughout 2010 and 2011, the Company has hired administrative, engineering and exploration personnel in Turkey. As at December 31, 2011, the Company had 45 full-time employees in Turkey.

 Risk Factors 
 The financing,
exploration, development and mining of any of the Company’s properties is subject to a number of factors, including the price of gold, laws and regulations, political conditions, currency fluctuations, hiring qualified people and obtaining
necessary services in jurisdictions where the Company operates. The current trends relating to these factors are generally favourable but could change at any time and negatively affect the Company’s operations and business. 

The following is a brief discussion of those distinctive or special characteristics of the Company’s operations and industry that may have a
material impact on, or constitute risk factors in respect of the Company’s operations and future financial performance. 
 Additional risks
not currently known by the Company, or that the Company currently deems immaterial, may also impair the Company’s operations. 
 The
Company’s operating and development properties are located in Mexico and Turkey and are subject to changes in economic and political conditions and regulations in those countries 
 The economics of the mining and extraction of precious metals are affected by many factors, including the costs of mining and processing operations, variations of grade of ore discovered or mined,
fluctuations in metal prices, foreign exchange rates and the prices of goods and services, and such other factors as government regulations, including regulations relating to royalties, allowable production, importing and exporting goods and
services and environmental regulations. Depending on the price of minerals discovered and potentially mined, the Company may determine that it is neither profitable nor competitive to acquire or develop properties, or to continue mining activities.

 The Company’s mineral properties are located in Mexico and Turkey. Economic and political conditions in Mexico and Turkey could
adversely affect the business activities of the Company. These conditions are beyond the Company’s control, and there can be no assurances that any mitigating actions by the Company will be effective. In the past, both Mexico and Turkey have
been subject to political instability, changes and uncertainties which may cause changes to existing governmental regulations affecting mineral exploration and mining activities. Any potential adverse impacts as a result of political volatility in
Mexico or Turkey cannot be accurately predicted. The mineral interests of the Company and the ultimate ability to generate cash flow and profits from operations may be affected in varying degrees by political or economic stability. Associated risks
include, but are not limited to: terrorist acts, corruption attempts, military repression, extreme fluctuations in currency exchange rates and high rates of inflation. Any change in regulations or shifts in political attitudes are beyond the control
of the Company and may materially adversely affect its business, financial condition and results of operations. 

  
  

19 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 The Company’s mineral exploration and mining activities in both Mexico and Turkey may be adversely affected in varying
degrees by changing government regulations relating to the mining industry or shifts in political conditions that increase the costs related to the Company’s activities or to the cost of maintaining its properties. Operations may also be
affected in varying degrees by changes in government regulations with respect to restrictions on production, price controls, export controls, income taxes, royalties, and expropriation of property, environmental legislation and mine safety. The
effect of these factors cannot be accurately predicted. Economic instability in Mexico could result from current global economic conditions and could contribute to currency volatility and potential increases to income tax rates, both of which could
significantly impact the Company’s profitability. Turkey is seeking membership to the European Union (“EU”) and is progressing to conform to EU standards and develop greater political and economic stability. However, Turkey has
historically, and to some degree continues to experience heightened levels of political and economic instability due to regional geopolitical instability. These conditions may be exacerbated by current global economic conditions. This instability
may have a material adverse effect on the Company’s properties, business and results of operations. 
 The Company’s activities are
subject to extensive laws and regulations governing worker health and safety, employment standards, waste disposal, protection of historic and archaeological sites, mine development, protection of endangered and protected species and other matters.
Specifically, the Company’s activities related to its Mulatos Mine and the Salamandra Concessions are subject to regulation by the Mexican Department of Economy - Direccion General of Mines (“DGM”), the environmental protection
agency of Mexico (“SEMARNAP”), Comisión Nacional del Aqua (“CONAGUA”), which regulates water rights, and the Mexican Mining Law. Mexican regulators have broad authority to shut down and/or levy fines against
facilities that do not comply with regulations or standards. The Company’s exploration and development activities in Turkey are subject to regulation by the General Directorate of Forestry of the Ministry of Environment and Forestry
(“MIGEM”). The judiciary in Turkey has substantial discretion to impose injunctions. 
 The Company will be unable to undertake
its required drilling and other development work on its properties if all necessary permits and licenses are not granted 
 A number of
approvals, licenses and permits are required for various aspects of exploration and mine development. The Company is uncertain if all necessary permits will be maintained or obtained on acceptable terms or in a timely manner. Future changes in
applicable laws and regulations or changes in their enforcement or regulatory interpretation could negatively impact current or planned exploration and development activities within the Salamandra Concessions, the Aği Daği and Kirazlı
Projects or any other projects with which the Company becomes involved. Any failure to comply with applicable laws and regulations or failure to obtain or maintain permits, even if inadvertent, could result in the interruption of exploration and
development operations or material fines, penalties or other liabilities. 
 In order to conduct drilling and/or other exploration activities
that cause a disturbance on concessions within State forest land in Turkey, valid permits are required from MIGEM. In January 2009, certain provisions concerning the existing Mining Law were challenged and subsequently annulled. As a result of the
annulment, the grant of permits for the use of forestry lands for mining activities was suspended. An amending regulation became effective upon its publication in the Official Gazette No. 27324 on August 19, 2009 (the “Amending
Regulation”), and the Ministry of Environment provided that until a new arrangement is made, the allocation of forestry lands to mining activities will be made pursuant to the provisions of the forestry legislation. Accordingly, issuance of
forestry permits was re-established during the suspension of implementation of the Mining Activities Permitting Regulation. Following this, on or about January 11, 2010, the Amending Regulation was challenged, and the High Administrative Court
suspended the implementation of the Amending Regulation until a final decision was rendered regarding the merit of the lawsuit. The Amendments to the Mining Law were finally approved by the Turkish Grand National Assembly on June 10, 2010 and
published in the Official Gazette No. 27621 dated June 24, 2010. The new Forest Permitting Regulation regulating the use of forestry lands for mining activities basically became effective as of the date of the new mining law ratification,
and thus, the forestry permits were issued for exploration activities as per the relevant provisions of the Forest Permitting Regulation. 
 As
existing permits were unaffected by the suspension of the Amending Regulation, the Company was not restricted from drilling under its existing forestry permits during 2010, including using permitted drill roads and drill pads. New forestry permits
were applied for and issued during the 2010 and 2011 and drilling has been unaffected from 

  
  

20 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 
the date of the new mining law ratification. From time to time, and depending on its activities, the Company will need to apply for new forestry permits. No new forestry permits have been denied
to date. It remains uncertain if the Company’s existing permits may be affected in the future or if the Company will have difficulties in obtaining all necessary forest permitting it requires for its proposed mining activities. 

In addition to changes in the forest permitting regulations, a new Mining Law was enacted in Turkey in 2010 which imposed new deadlines on concession
holders. Specifically, as a result of the changes in the Mining Law, the Company is required to obtain final EIA approval and key permits on its concessions in Turkey between October and December 2012 in order to maintain its concessions in good
standing. The specific deadlines for obtaining EIA approval and key permits for each project concession in Turkey vary slightly in time. The Company has implemented plans to obtain all necessary permits prior to these deadlines and views the risk of
not meeting the deadlines as low. If these deadlines are not met due to unforeseen delays, the Company believes that extensions to deadlines for obtaining the required approvals and permits could be negotiated so that the concessions would remain in
good standing. However, there is no guarantee that the Company will be able to obtain the approvals and permits as planned or if unable to meet such deadlines that negotiations for an extension will be successful in order to maintain its concessions
in good standing. If the concessions were to expire, this could have a material adverse impact on the Company’s ability to control and continue to develop its Turkish projects. 
 The business of exploration for minerals and mining involves a high degree of risk, as few properties that are explored are ultimately developed into producing mines 

The Company is engaged in exploration, mine development and the mining and production of precious metals, primarily gold, and is exposed to a number of
risks and uncertainties that are common to other companies in the same business. Unusual or unexpected ground movements, fires, power outages, labour disruptions, flooding, cave-ins, landslides and the inability to obtain suitable adequate
machinery, equipment or labour are risks involved in the operation of mines and the conduct of exploration programs. The Company has relied on and may continue to rely upon consultants and others for mine operating and exploration expertise. Few
properties that are explored are ultimately developed into producing mines. Substantial expenditures are required to establish ore reserves through drilling, to develop metallurgical processes to extract the metal from the ore and in the case of new
properties, to develop the mining and processing facilities and infrastructure at any site chosen for mining. Although substantial benefits may be derived from the discovery of a major mineral deposit, the Company may not be able to raise sufficient
funds for development. The economics of developing mineral properties is affected by many factors including the cost of operations, variations in the grade of ore mined, fluctuations in metal markets, costs of mining and processing equipment and
such other factors as government regulations, including regulations relating to royalties, allowable production, importing and exporting of minerals and environmental protection. Where expenditures on a property have not led to the discovery of
mineral reserves, spent costs will not usually be recoverable. 
 Estimates of mineral reserves and resources may not be realized

 The mineral reserves and resources estimates contained in this AIF are only estimates and no assurance can be given that any
particular level of recovery of minerals will be realized or that an identified resource will ever qualify as a commercially mineable (or viable) deposit which can be legally and economically exploited. The Company relies on laboratory-based
recovery models to project estimated ultimate recoveries by ore type at optimal crush sizes. Actual gold recoveries in a commercial heap leach operation may exceed or fall short of projected laboratory test results. In addition, the grade of
mineralization ultimately mined may differ from the one indicated by the drilling results and the difference may be material. Production can be affected by such factors as permitting regulations and requirements, weather, environmental factors,
unforeseen technical difficulties, unusual or unexpected geological formations, inaccurate or incorrect geologic, metallurgical or engineering work, and work interruptions, among other things. Short-term factors, such as the need for an orderly
development of deposits or the processing of new or different grades, may have an adverse effect on mining operations or the results of those operations. There can be no assurance that minerals recovered in small scale laboratory tests will be
duplicated in large scale tests under on-site conditions or in production scale operations. Material changes in proven and probable reserves or resources, grades, waste-to-ore ratios or recovery rates may affect the economic viability of projects.
The estimated proven and probable reserves and resources described herein should not be interpreted as assurances of mine life or of the profitability of future operations. 

  
  

21 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 The Company has engaged expert independent technical consultants to advise it on, among other things, mineral reserves and
resources and project engineering at its Mulatos Mine in Mexico. The Company has also engaged expert independent technical consultants to advise it on these matters at its Aği Daği and Kirazlı Projects in Turkey. The Company believes
that these experts are competent and that they have and will carry out their work in accordance with all internationally recognized industry standards. If, however, the work conducted and to be conducted by these experts is ultimately found to be
incorrect or inadequate in any material respect, the Company may experience delays and increased costs. 
 Problems with title to mineral
properties could have a negative impact on the Company’s future operations 
 The acquisition of the right to exploit mineral
properties is a detailed and time-consuming process. Although the Company is satisfied it has taken reasonable measures to acquire unencumbered rights to explore on and exploit its mineral reserves on the Salamandra Concessions in Mexico and the
Aği Daği and Kirazlı Projects in Turkey, no assurance can be given that such claims are not subject to prior unregistered agreements or interests or to undetected or other claims or interests which could be material and adverse to the
Company. While the Company has used its best efforts to ensure title to all its properties and secured access to surface rights, these titles or rights may be disputed, which could result in costly litigation or disruption of operations. 

Problems with surface access to exploration projects or minerals could have a negative impact on the Company’s exploration programs and future
operations 
 The Company has entered into certain land lease agreements in Mexico with the Ejido and with individual land possessors for
the purpose of conducting exploration activities. From time to time, a land possessor may dispute the Company’s surface access rights, and as a result the Company may be barred from its legal temporary occupation rights. Surface access issues
have the potential to result in the delay of planned exploration programs, and these delays may be significant. The Company expects that it will be able to resolve these issues; however, there can be no assurance that this will be the case.

 The Company strives to maintain good relations with the local community in Mexico by providing employment opportunities and social benefits.
The Company has entered into the New Surface Agreement with the Ejido. In addition, the Company has entered into agreements with individual Ejido members for the surface rights to which they have been assigned. The transfers of title to these
surface rights have been registered in Mexico. 
 The Company is also in negotiations with Ejido and non-Ejido members in Mexico, as a group and
individually, to relocate the existing community of Mulatos, and to acquire additional surface rights. Negotiations with the Ejido are time consuming and can be challenging and uncertain. There are financial and other considerations associated with
the negotiating process including the filing of complaints or the commencement of legal proceedings by Ejido members, or attempts to impede road access by blockades and other actions to affect access to the Mulatos Mine or otherwise affect
operations which could result in significant downtime and associated costs, or suspension of operations and loss of production. With the assistance of experienced legal advisors and the input from State and local government officials, the Company
expects that it will be able to acquire its land-use requirements at a reasonable cost; however, there can be no assurance that this will be the case. The Company also expects that any actions taken by Ejido or non-Ejido members to interrupt or
otherwise impede mine operations will be addressed by the appropriate State and Federal government authorities. 
 In 2008, the Company entered
into a land purchase agreement with certain landowners in Mexico, under which the Company made a payment of $1.25 million to secure temporary occupation rights to specified land. An additional payment of approximately $1 million (based on current
foreign exchange rates) is payable once the land has been vacated and is transferred to the Company. The probability and timing of this additional payment is currently unknown to the Company. 
 During 2010, the Company received notice that the Ejido had filed a complaint with the Unitary Agrarian Court to nullify the 2008 land purchase agreement. The Company has received a legal opinion that the
action is without merit. The matter remains unresolved by the Court at this time. The land purchase agreement does not affect current mining operations of the Company. 

  
  

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 Additional future property acquisition, relocation benefits, legal and related costs may be material. The Company cannot
currently determine the expected timing, outcome of negotiations or costs associated with the relocation of the remaining property owners and possessors and potential land acquisitions. 
 The Company may need to enter into negotiations with landowners and other groups in the local community in Turkey in order to conduct future exploration and development work on the Aği Daği and
Kirazlı Projects. There is no assurance that future discussions and negotiations will result in agreements with landowners and other local community groups in Turkey or if such agreements will be on terms acceptable to the Company so that the
Company can continue to conduct exploration and development work on these projects. 
 Development projects are uncertain and it is
possible that actual capital and operating costs and economic returns will differ significantly from those estimated for a project prior to production. 
 Mine development projects, including the Company’s Aği Daği and Kirazlı Projects or expansion of the existing Mulatos Mine, require significant expenditures during the development
phase before production is possible. Development projects are subject to the completion of successful feasibility studies and environmental assessments, issuance of necessary governmental permits and availability of adequate financing. The economic
feasibility of development projects is based on many factors such as: estimation of mineral reserves, anticipated metallurgical recoveries, environmental considerations and permitting, future gold prices, and anticipated capital and operating costs
of these projects. Our development projects have no operating history upon which to base estimates of future production and cash operating costs. Particularly for development projects, estimates of proven and probable mineral reserves and cash
operating costs are, to a large extent, based upon the interpretation of geologic data obtained from drill holes and other sampling techniques, and feasibility studies that derive estimates of cash operating costs based upon anticipated tonnage and
grades of ore to be mined and processed, the configuration of the ore body, expected recovery rates of gold from the ore, estimated operating costs, anticipated climatic conditions and other factors. As a result, it is possible that actual capital
and operating costs and economic returns will differ significantly from those currently estimated for a project prior to production. 
 Any of
the following events, among others, could affect the profitability or economic feasibility of a project: unanticipated changes in grade and tonnes of ore to be mined and processed, unanticipated adverse geological conditions, unanticipated
metallurgical recovery problems, incorrect data on which engineering assumptions are made, availability of labour, costs of processing and refining facilities, availability of economic sources of power, adequacy of water supply, availability of
surface on which to locate processing and refining facilities, adequate access to the site, unanticipated transportation costs, government regulations (including regulations with respect to prices, royalties, duties, taxes, permitting, restrictions
on production, quotas on exportation of minerals, environmental), fluctuations in gold prices, and accidents, labour actions and force-majeure events. 
 It is not unusual in new mining operations to experience unexpected problems during the start-up phase, and delays can often occur at the start of production. It is likely that actual results for our
projects will differ from current estimates and assumptions, and these differences may be material. In addition, experience from actual mining or processing operations may identify new or unexpected conditions that could reduce production below, or
increase capital or operating costs above, current estimates. If actual results are less favourable than currently estimated, our business, results of operations, financial condition and liquidity could be materially adversely affected. 

The Company’s mineral assets are located outside Canada and are held indirectly through foreign affiliates 

It may be difficult if not impossible to enforce judgments obtained in Canadian courts predicated upon the civil liability provisions of the securities
laws of certain provinces against substantially all of the Company’s assets which are located outside Canada. 
 Problems with
community water sources at the Aği Daği and Kirazlı Projects could have a negative impact on the Company’s exploration programs and future operations 
 Community water sources occur in the region of the Aği Daği and Kirazlı Projects. The Company will strive to ensure that exploration activities do not adversely impact community water
sources. Future operations may require that alternate water sources be provided to potentially affected communities. 

  
  

23 | ALAMOS GOLD INC 

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 The Company’s operations are based in Mexico and Turkey and obtaining financing or finding or hiring qualified
people or obtaining all necessary services for the Company’s operations may be difficult 
 The Company conducts exploration, mine
development and mining and production activities in the state of Sonora, Mexico. In addition, the Company is conducting exploration activities in the Province of Cannakale, Turkey. Mexico is a developing country and obtaining financing, finding or
hiring qualified people or obtaining all necessary services for the Company’s operations in Mexico may be difficult. Mexico’s status as a developing country may make it more difficult for the Company to attract investors or to obtain any
required financing for its mining projects. Turkey has historically been subject to heightened levels of political and economic instability, which could make it difficult for the Company to attract investors, hire qualified people, obtain the
necessary services for the Company’s operations in Turkey or obtain required financing. 
 The Company also hires some of its employees or
consultants in Mexico and Turkey to assist it in conducting its operations in accordance with Mexican and Turkish laws. The Company also purchases certain supplies and retains the services of various companies in Mexico and Turkey to meet its
business plans. It may be difficult to find or hire qualified people in the mining industry who are situated in Mexico or to obtain all the necessary services or expertise in Mexico or Turkey or to conduct operations on its projects at reasonable
rates. If qualified people and services or expertise cannot be obtained in Mexico or Turkey, the Company may need to seek and obtain those services from people located outside Mexico or Turkey, which will require work permits and compliance with
applicable laws and could result in delays and higher costs to the Company to conduct its operations in Mexico and Turkey. 
 Inability of
the Company to comply with all Mexican laws and regulations could negatively impact current or planned mining activities and exploration and developmental activities on the Salamandra Concessions 

The Company’s mining, exploration and development activities are subject to extensive laws and regulations governing worker health and safety,
employment standards, waste disposal, protection of historic and archaeological sites, mine development, protection of endangered and protected species and other matters. Specifically, the Company’s activities in relation to its Mulatos Mine in
Mexico and exploration and development areas within the Salamandra Concessions are subject to regulation by SEMARNAP, the environmental protection agency of Mexico, CONAGUA, which regulates water rights, and Mexican mining law. A number of other
approvals, licences and permits are required for various aspects of mine development, the most significant of which, other than SEMARNAP approval, are water extraction permits from the Rio Mulatos and blasting permits, issued by the Mexican Army, to
purchase, store and use explosives. Maintaining the necessary permits is critical to the Company’s business. The Company has obtained a blasting permit and approval from CONAGUA of an agreement to acquire surface water rights. The Company is
uncertain whether all necessary permits will be maintained on acceptable terms or in a timely manner. Future changes in applicable laws and regulations or changes in their enforcement or regulatory interpretation could negatively affect current or
planned mining, exploration and developmental activities on the Salamandra Concessions or on any other projects incurred in which the Company becomes involved. Any failure to comply with applicable laws and regulations or to obtain or maintain
permits, even if inadvertent, could result in the interruption of mining, exploration and developmental operations or in material fines, penalties or other liabilities. 
 The Company’s activities are subject to environmental regulations 
 The
operations of the Company are subject to environmental regulations promulgated by governmental agencies from time to time. Specifically, the Company’s activities in Mexico related to the Salamandra Concessions are subject to regulation by
SEMARNAP, the environmental protection agency of Mexico. Regulations require that an environmental impact statement, known in Mexico as a Manifesto Impacto Ambiental (“MIA”), be prepared by a third-party contractor for submission to
SEMARNAP. Studies required to support the MIA include a detailed analysis of the following areas: soil, water, vegetation, wildlife, cultural resources and socio-economic impacts. The Company must also provide proof of local community support for a
project to gain final MIA approval. Environmental legislation provides for restrictions and prohibitions on spills, releases or emissions of various substances produced in association with certain mining industry operations, such as seepage from
tailings disposal areas, which results in environmental pollution. A breach of such legislation may result in the imposition of fines 

  
  

24 | ALAMOS GOLD INC 

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and penalties. In addition, certain types of operations require the submission and approval of environmental impact assessments. Environmental legislation is evolving, resulting in stricter
standards, and enforcement, fines and penalties for non-compliance are more stringent. 
 The Company’s exploration and development
activities in Turkey are subject to regulation by MIGEM. The judiciary in Turkey has substantial discretion to impose injunctions. 

Environmental assessments of proposed projects carry a heightened degree of responsibility for companies, directors, officers and employees. The cost of
compliance with changes in governmental regulations has the potential to reduce the profitability of operations. The Company has made, and will continue to make expenditures to comply with such laws and regulations. 

Site closure and reclamation costs expected to be incurred in the future are estimated by the Company’s management based on the information
available to them. As at December 31, 2011, the Company had recorded an asset retirement obligation liability of $6.7 million. Actual site closure and reclamation costs could be materially different from the current estimates. Any change in
cost estimates should additional information become available would be accounted for on a prospective basis. The fair value of the future liability for an asset retirement obligation is recognized in the period in which it is incurred with an
offsetting amount being recognized as an increase in the carrying amount of the corresponding asset. This asset is amortized on a unit-of-production basis over the estimated life of the mine while the corresponding liability accretes to its future
value by the end of the mine’s life. 
 The volatility of the price of gold could have a negative impact on the Company’s future
operations 
 The value of the Company’s mineral resources and future operating profit and loss is affected by fluctuations in gold
prices, over which the Company has no control. A reduction in the price of gold may prevent the Company’s properties from being economically mined or result in the write-off of assets whose value is impaired as a result of low gold prices. The
price of gold may also have a significant influence on the market price of the Company’s common shares. The price of gold is affected by numerous factors beyond the Company’s control, such as the level of inflation, fluctuation of the
United States dollar and foreign currencies, global and regional demand, sale of gold by central banks and the political and economic conditions of major gold producing countries throughout the world. The price of gold has increased significantly in
the past several years. As at December 30, 2011, the London AM Gold fix price was US$1,574.50 per ounce. The following table sets forth the approximate average of the daily London PM Gold fix price during the calendar periods indicated:

  

							
	Year ended December 31	  	2011    	  	2010    	  	2009
	 Gold (US$ per ounce)
	  	$1,572    	  	$1,225    	  	$972  

 The Company is in competition with other mining companies that have greater resources and experience

 The Company competes with other mining companies, many of which have greater resources and experience. Competition in the precious
metals mining industry is primarily for: mineral rich properties which can be developed and produced economically; the technical expertise to find, develop, and produce such properties; the labour to operate the properties; and the capital for the
purpose of financing development of such properties. Many competitors not only explore for and mine precious metals, but conduct refining and marketing operations on a world-wide basis and some of these companies have much greater financial and
technical resources than the Company. Such competition may result in the Company being unable to acquire desired properties, recruit or retain qualified employees or acquire the capital necessary to fund its operations and develop its properties.
The Company’s inability to compete with other mining companies for these mineral deposits could have an adverse material effect on the Company’s results of operations. 

  
  

25 | ALAMOS GOLD INC 

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 The Company is subject to currency fluctuations that may adversely affect the financial position of the Company

 The Company is subject to currency risks. The Company’s functional currency is the United States dollar, which is exposed to
fluctuations against other currencies. The Company’s primary operations are located in Mexico and Turkey and many of its expenditures and obligations are denominated in Mexican pesos, Turkish lira and Euros. The Company maintains its principal
office in Canada, maintains cash accounts in U.S. dollars, Mexican pesos, Turkish lira, Euros and Canadian dollars and has monetary assets and liabilities in U.S. and Canadian dollars, Mexican pesos and Turkish lira. As such, the Company’s
results of operations are subject to foreign currency fluctuation risks and such fluctuations may adversely affect the financial position and operating results of the Company. The Company has not undertaken to mitigate transactional volatility in
the Mexican peso, Turkish lira, Euro or the Canadian dollar at this time. The Company may, however, enter into foreign currency forward contracts in order to match or partially offset existing currency exposures. 

The Company is dependent on a small number of key personnel and the absence of any of these individuals could have a significantly negative effect
on the Company 
 The Company is dependent on a small number of key management and operating personnel and the absence of any of these
individuals could result in a significantly negative effect on the Company. The Company strongly depends on the business and technical expertise of its management and key operating personnel. There is little possibility that this dependence will
decrease in the near term. As the Company’s operations expand, additional general management resources will be required, especially since the Company encounters risks that are inherent in doing business in several countries. The Company is
dependent, in particular, on its President and Chief Executive Officer, John McCluskey and its Chief Operating Officer, Manley Guarducci. Key man life insurance is not in place on Messrs. McCluskey or Guarducci. If the services of the Company’s
management and key personnel were lost, it could have a material adverse effect on future operations. 
 Insurance coverage

 The mining industry is subject to significant risks that could result in damage to, or destruction of, mineral properties or producing
facilities, personal injury or death, environmental damage, delays in mining, monetary losses and possible legal liability. 
 The
Company’s policies of insurance may not provide sufficient coverage for losses related to these or other risks. The Company’s insurance does not cover all risks that may result in loss or damages and may not be adequate to reimburse the
Company for all losses sustained. In particular, the Company does not have coverage for certain environmental losses or certain types of earthquake damage. The occurrence of losses or damage not covered by insurance could have a material and adverse
effect on the Company’s cash flows, results of operation and financial condition. 
 The Company’s business involves uninsurable
risks 
 In the course of exploration, development and production of mineral properties, certain risks and, in particular, unexpected or
unusual geological operating conditions including cave-ins, fires, flooding and earthquakes may occur. It is not always possible to fully insure against such risks and the Company may decide not to take out insurance against such risks as a result
of high premiums or other reasons. Should such liabilities arise, they could reduce or eliminate any future profitability and result in increasing costs and a decline in the value of the securities of the Company. 

Production estimates 
 The Company
prepares estimates of mine production for the Mulatos Mine in Mexico. The Company cannot give any assurance that it will achieve its production estimates. The failure of the Company to achieve its production estimates could have a material and
adverse effect on any or all of its future cash flows, results of operations and financial condition. These production estimates are dependent on, among other things, the accuracy of mineral reserve estimates, the accuracy of assumptions regarding
ore grades and recovery rates, ground conditions and physical characteristics of ores and the accuracy of estimates rates and costs of mining and processing. 

  
  

26 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 The Company’s actual production may vary from its estimates for a variety of reasons, including: actual ore mined varying
from estimates of grade, tonnage, dilution and metallurgical and other characteristics; short-term operating factors such as the need for sequential development of ore bodies and the processing of new or different ore grades from those planned; mine
failures, slope failures or equipment failures; industrial accidents; natural phenomena such an inclement weather conditions, floods, droughts, rock slides and earthquakes; encountering unusual or unexpected geological conditions; changes in power
costs and potential power shortages; shortages of principal supplies needed for operation, including explosives, fuels, chemical reagents, water, equipment parts and lubricants; labour shortages or strikes; civil disobedience and protests; and
restrictions or regulations imposed by government agencies or other changes in the regulatory environments. Such occurrences could result in damage to mineral properties, interruptions in production, injury or death to persons, damage to property of
the Company or others, monetary losses and legal liabilities. These factors may cause a mineral deposit that has been mined profitably in the past to become unprofitable, forcing the Company to cease production. 

Mine development 
 The
Company’s ability to sustain its present levels of gold production is dependent upon the identification of additional reserves at the Salamandra Concessions. If the Company is unable to develop new ore bodies, it will not be able to sustain or
increase present production levels. Reduced production could have a material and adverse impact on future cash flows, results of operations and financial conditions. 
 Risks of development, construction and mining operations 
 The Company’s ability
to meet development, production, timing and cost estimates for the Salamandra Concessions and the Aği Daği and Kirazlı Projects cannot be assured. Technical considerations, delays in obtaining governmental approvals, inability to
obtain financing or other factors could cause delays in current mining operations or in developing properties. Such delays could materially affect the financial performance of the Company. 
 Acquisitions and integration 
 From time to time, the Company examines opportunities
to acquire additional mining assets and businesses. Any acquisition that the Company may choose to complete may be of a significant size, may change the scale of the Company’s business and operations, and may expose the Company to new
geographic, political, operating, financial and geological risks. The Company’s success in its acquisition activities depends upon its ability to identify suitable acquisition candidates, negotiate acceptable terms for any such acquisition, and
integrate the acquired operations successfully with those of the Company. Any acquisitions would be accompanied by risks. In the event that the Company chooses to raise debt capital to finance any such acquisition, the Company’s leverage will
be increased. If the Company chooses to use equity as consideration for such acquisition, existing shareholders may suffer dilution. Alternatively, the Company may choose to finance any such acquisition with its existing resources. There can be no
assurance that the Company would be successful in overcoming these risks or any other problems encountered in connection with such acquisitions. 
 Weather risks 
 The Company’s producing assets are located in northwest Mexico.
Extended periods of high rainfall or drought conditions are typical in this part of Mexico. While the Company has taken measures to mitigate the impact of weather on its operations, severe rainfall or drought conditions could have an adverse impact
on the Company’s ability to achieve production forecasts. 

  
  

27 | ALAMOS GOLD INC 

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 Financial risks 
 The Company’s activities expose it to a variety of financial risks including interest rate risk, credit risk and liquidity risk. The Company’s risk management program focuses on the
unpredictability of financial markets and seeks to minimize potential adverse effects on the Company’s financial performance. The Company may use derivative financial instruments to hedge certain risk exposures. The Company does not purchase
derivative financial instruments for speculative investment purposes. 
 Interest Rate Risk 

The Company’s interest rate risk related to interest-bearing debt obligations is currently not material as the Company has no outstanding debt at
December 31, 2011. 
 Credit Risk 
 Credit risk arises from cash and cash equivalents held with banks and financial institutions, derivative financial instruments (including forward gold sales contracts) and amounts receivable. The maximum
exposure to credit risk is equal to the carrying value of the financial assets. 
 Liquidity Risk 

Liquidity risk arises through the excess of financial obligations due over available financial assets at any point in time. The Company’s objective
in managing liquidity risk is to maintain sufficient readily available cash reserves and credit in order to meet its liquidity requirements at any point in time. The total cost and planned timing of acquisitions and/or other development or
construction projects is not currently determinable and it is not currently known whether the Company will require external financing in future periods. 
 SALAMANDRA CONCESSIONS & MULATOS MINE IN MEXICO 
 The Company owns 100% of the
Salamandra Concessions located in the state of Sonora in northwest Mexico. The Salamandra Concessions includes the Mulatos Mine and several other prospective exploration targets throughout the district. 

Project Description and Location 

Location 
 The Mulatos Mine is
located within the Salamandra Concessions in the Sierra Madre Occidental mountain range in the east-central portion of the state of Sonora, Mexico. The Company controls several large mineral concessions, which are located mostly to the west,
southwest and north-northeast of the Mulatos Mine. A total of 30,536 hectares of mineral concessions, in 44 discrete concessions, are controlled by the Company. The mineral concessions were awarded to the Company by the Mexican Department of Economy
(the “Direccion General de Minas”). The property is approximately 220 km by air east from the city of Hermosillo, and 300 km south of the United States border. The Company maintains an administration office in Hermosillo, Mexico which
supports the activities and operations of the Mulatos Mine. 
 Ownership 
 The Salamandra Concessions cover the Mulatos deposit and satellite gold systems known as Cerro Pelon, La Yaqui, El Realito, El Carricito, El Halcon, Las Carboneras, El Jaspe, Puebla, Los Bajios, and La
Dura. The Mulatos deposit is itself divided into a numbers of mineralized zones known as Estrella, Mina Vieja, El Salto, Escondida, Gap, El Victor, El Victor North, San Carlos, Puerto del Aire, Puerto del Aire Extension, and East Estrella. Mineral
rights for all concessions comprising the Salamandra Concessions are controlled by Minas de Oro Nacional. 

  
  

28 | ALAMOS GOLD INC 

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 Surface Rights 
 Surface rights in the exploitation area are held both privately and by the Mexican government through the Ejido. On May 27, 2004 the Company, through its Mexican subsidiary Minas de Oro Nacional,
entered into a New Surface Agreement with the Ejido. The New Surface Agreement was required for the Company to hold surface rights for the development of certain mineral concessions on the Salamandra Concessions and enabled the Company to perform
different mining works and activities and to set up the infrastructure required for the Company’s exploration and exploitation of the mining concessions. The New Surface Agreement, which was approved on May 27, 2004, by the Agrarian Court
for the State of Sonora, supersedes the 1995 Surface Agreement. 
 The New Surface Agreement provided, among other things, for the lease of
1,200 hectares of land for an initial term of eight years with an option to extend the term for a further ten years. The New Surface Agreement provides Minas de Oro Nacional with the right to negotiate for the purchase of this land or negotiate a
lease with the individual possessors in the event that the Ejido divides the 1,200 hectares of land into parcels and assigns its rights to individual possessors of the land. This has been accomplished for approximately 200 hectares held under a
temporary occupation agreement, and an additional 1,200 hectares held as the private property of Minas de Oro Nacional. 
 On May 27, 2004
the Company also entered into a settlement agreement (the “Settlement Agreement”) with the Ejido, to settle two outstanding appeals by the Company to a legal action by the Ejido disputing the 1995 Surface Agreement, the annual surface
rights lease payments due to them in respect of the Salamandra Concessions and the ability of the Company to reduce the annual lease payments. The Settlement Agreement is binding on all members of the Ejido and precludes the Ejido, its lawyers,
individual Ejidatarios or their legal representatives from commencing any legal action against Minas de Oro Nacional or the Company over land issues covered thereby. 
 In 2007, the Company successfully negotiated three new surface access agreements, allowing exploration into three high-priority targets for the first time since 1997, including the La Yaqui area. The
Company is currently in the process of negotiating with landowners in order to secure the surface rights to commence development La Yaqui and Cerro Pelon. 
 In April 2008, the Company entered into a land purchase agreement with certain landowners, under which the Company has made a payment of $1.25 million to secure temporary occupation rights to specified
land. The initial term of this agreement is for 10 years, with an option to extend for an additional 10 years. An additional payment of approximately $1 million (based on current foreign exchange rates) is payable once the land has been vacated and
is transferred to the Company. The probability and timing of this additional payment is currently unknown to the Company. 
 The Company is in
the process of acquiring property adjacent to its present and prospective mining operations. Property owners and possessors are being offered a comprehensive benefits package including compensation for their property and/or relocation benefits. In
certain cases, relocation benefits include deferred monthly payments over periods varying from three to five years. Obligations are recognized when a legal contract is signed by both parties and are measured at the discounted value of expected
future payments. Although future property acquisition, relocation benefits, legal and related costs may be material, the Company cannot currently determine the expected timing, outcome of negotiations or costs associated with the relocation of the
remaining property owners and possessors and potential land acquisitions. 
 During 2010, the Company received notice that the Ejido had filed a
complaint with the Unitary Agrarian Court to nullify the 2008 land purchase agreement. The Company has received a legal opinion that the action is without merit. Preliminary hearings are being held, and the matter remains unresolved by the Court at
this time. The Company is committed to completing the agreement based on the original terms. The land purchase agreement does not affect current mining operations of the Company. 

  
  

29 | ALAMOS GOLD INC 

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 Permits 

The Company is permitted to mine its reserves at the Mulatos and Victor pits and has obtained the required surface rights to carry on related mining,
processing and exploration activities at these areas. In 2009, the Company entered into negotiations to acquire additional land surface rights covering and surrounding the La Yaqui, Cerro Pelon and El Carricito prospects. The process of obtaining
the necessary permitting at La Yaqui and Cerro Pelon has been initiated and is ongoing. However, the Company cannot currently determine the expected timing, outcome of negotiations or costs associated with potential land acquisitions. From time to
time, the Company acquires additional temporary surface rights to explore additional targets within the Salamandra Concessions. 

Royalties 
 A net smelter return
royalty (the Placer Kennecott Royalty or Royal Gold Royalty) is payable on the first 2,000,000 ounces of production from certain of the Salamandra Concessions. On January 5, 2006, Royal Gold acquired Kennecott’s 30% interest in the Placer
Kennecott Royalty pursuant to the Kennecott Assignment Agreement and on January 20, 2006, Barrick acquired Placer Dome Inc. Effective October 1, 2008, Royal Gold acquired Barrick’s 70% interest in the Placer Kennecott Royalty pursuant
to the Placer Assignment Agreement. 
 The Company declared commercial production for royalty purposes on April 1, 2006 and royalties
became payable on production applicable to the RTE Agreement subsequent to that date. Accordingly, from the period that the Company declared commercial production on April 1, 2006 to October 1, 2008, the 5% net smelter return royalty (5%
net smelter return royalty in effect when gold price is US$400 or higher) was split between Barrick (3.5%) and Royal Gold (1.5%). Effective October 1, 2008, 100% of the royalty was paid or accrued to Royal Gold. As at December 31,
2011, the royalty had been paid or accrued on approximately 806,000 ounces of applicable gold production. 
 Environmental Liabilities

 The 2004 Feasibility Study identified the potential for acid rock drainage. Measures to prevent acid rock drainage were incorporated
into construction of the Mulatos Mine. Standard mining and construction practices in Mexico and guidelines issued by the World Bank were followed in the development and construction of the Mulatos Mine. 

The Company complies with all environmental obligations set out in its mining plan, including eventual rehabilitation of mine and exploration roads,
drill set-up, dumps and the heap leach pad. The Company has recorded an asset retirement obligation liability of $6.7 million which it expects to settle during the course of mining and on closure. 

Social Issues 
 The nearby town of
Mulatos is largely protected from noise, dust, vibration and fly rock by the Mina Vieja outcrop. The Company proactively monitors noise, dust and vibration levels to ensure that they are within acceptable limits and the Company takes every
precaution to minimize the impact of its mining operations on the local community. The Company also provides medical and educational assistance to the town of Mulatos as well as employment opportunities. 

Geology 
 The Salamandra mineral
deposits are large epithermal, high-sulfidation, disseminated, gold deposits hosted within a mid-Tertiary dacitic dome complex. Gold mineralization is closely associated with silicic alteration within extensive areas of argillic and advanced
argillic alteration. The Mulatos deposit proper is composed of the contiguous Estrella, El Salto, Mina Vieja, and Puerto del Aire resource areas. The Escondida deposit is the faulted extension of the Mina Vieja and El Salto sub-deposits and is
believed to be continuous to the northeast with the Gap, El Victor and San Carlos mineralized areas. Although zones are often bounded by post-mineral faults, together they form a trend of 2.7 km of gold mineralization starting at the north end of
the Estrella pit to the San Carlos deposit. 

  
  

30 | ALAMOS GOLD INC 

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 Within the larger Salamandra Concessions, and generally within 20 km from the Mulatos deposit, geologically similar high
sulfidation gold deposits, occurrences, or prospects are known. The principal ones, some of which are in the process of being evaluated and/or drill-tested, are: Cerro Pelon, La Yaqui, El Realito, El Carricito, El Halcon, Las Carboneras, El Jaspe,
Puebla, Los Bajios, and La Dura. 
 Access, Climate, Communication, Power 
 Access 
 The Salamandra Concessions are accessible via a combination of a paved road
(Highway 16) from the City of Hermosillo, Mexico and dirt roads direct to the Mulatos Mine. The driving time from Hermosillo to the Mine is approximately 6 hours. 
 In 2010, the Company built and permitted a new unpaved airstrip within the limits of the mine property. The previously serviceable air strip located 15 km east of the Mine is no longer in use and has been
rendered inoperable. 
 The town of Mulatos is in the municipality of Sahuaripa and is located approximately 0.5 km northeast of the Estrella
Pit. The population of the town of Mulatos in 2011 was approximately 200 people. The Company’s Mexican exploration field office is located in the town of Matarachi, of comparable size to Mulatos and located 15 km east of the Estrella Pit.
Larger towns within 100 km of the area of interest include Yecora with a population of 10,000, located southwest of Mulatos, and Sahuaripa with a population of 7,000 located northwest of Mulatos. 

Climate 
 From July to September,
the air is humid and hot, typically around 30 degrees Celsius during the day. In this period, over half of the average annual rainfall of 0.8 m falls. The winter months (November to February) are cooler, generally between 15 and 20 degrees Celsius
during the day, with occasional frost occurring at night. 
 Communication 

Satellite phones are used for both domestic and international calls. The satellite telephones have both North American and Mexican local numbers.
Satellite internet communications are the main method for electronic communications. In December 2009, a dedicated point-to-point satellite was installed between the mine and the town of Yecora and this has sufficient bandwidth to support VPN and
other communication requirements between the mine site, its regional office in Hermosillo, Mexico, and the corporate office in Toronto, Canada. Cell phone service is also available at the Mine and at the camp facilities. A back-up radio
communication system also connects the Mine with the Hermosillo office. Land radio communication is also used in the field for daily communication both by Mine and exploration personnel. 
 Power 
 There are currently two power plants in operation at the Mine. Power plant #1
is a generating plant consisting of four-1,100 kilowatt and two-2,000 kilowatt, 1,200 rpm diesel electrical generating sets which supply electrical power for all mine site usage. Power plant #2 was constructed for the closed crushing circuit and
future expansion and consists of three-1,750 kilowatt generating sets and is expandable to host up to six generating sets. Total usage is approximately 70,000 kilowatt hours per day. Power for the exploration camp located in Matarachi is provided
via small diesel generators. 
 History 
 Mulatos was known to contain gold dating back to the 1600’s, with sporadic artisanal mining occurring over the years, especially in the area of Mina Vieja. Starting in the mid-1900’s, several
companies began to show interest in the claim areas, notably Minera Real de Angeles, Kennecott and Placer Dome, with a substantial amount of exploration work was conducted between 1993 and 1999. A preliminary feasibility study was completed on the
property in 1998 by Kennecott and Placer Dome who had entered into a joint venture agreement covering the 

  
  

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 ANNUAL INFORMATION FORM - 2011 
  
 
deposit and a portion of the surrounding land. In 2001, National Gold acquired a 100% interest in the property for cash and a sliding-scale royalty on the first two million ounces of gold
production. In 2003, Alamos Minerals acquired an option on the property, and subsequently merged with National Gold to consolidate 100% ownership. 
 Mineralization 
 The mineral deposits of Mulatos occur predominantly within areas of
massive, pervasive silicic alteration of volcanic host rock. Quartz veins and quartz stockwork zones seldom occur. The silicified rocks host approximately 80% of the contained gold within the deposit. 

Oxidized units make up a portion of the total volume of the Estrella Pit resource area. The 2004 Feasibility Study estimated that oxide made up
approximately 10-15% of the total deposit ore. Oxide zones generally occur primarily near the surface, in the zone of leaching, and are largely a result of surface weathering. However, several deeper zones of oxidized material exist in highly
fractured areas where permeability is enhanced along major structural zones. Since the start of mining activities in 2005, the Company has continually encountered low-sulphur sulphide material that has similar metallurgical characteristics to
oxidized material, resulting in“oxide” type material being more prevalent than predicted by the block model. 
 The sulphide zone is
generally the deepest portion of the deposit, occurring below a relatively large mixed oxide/sulphide layer (transition zone), which generally accounts for up to 35% in the Estrella pit. Within the sulphide zone, as well as for mixed zones,
metallurgical test work indicates that gold recovery is inversely proportional to the total sulphur content. Lower extraction rates are also usually obtained from high sulphur and copper-rich sections. 

Exploration 
 Following a five-year
hiatus due to a low gold price, active exploration efforts led by the Company resumed in 2003. Incorporated in the 2004 Feasibility Study were the results of 325 reverse circulation (“RC”) drill holes and 112 core holes. Of this drilling,
a total of 21 holes were drilled for metallurgical test work, while other holes were drilled for geotechnical purposes. Resources and reserves were estimated based on this drilling, followed by economic analysis. Exploration drilling also extended
to the El Victor resource area while several other targets, including Escondida, Puerto del Aire, Gap, San Carlos, La Yaqui, Cerro Pelon, El Realito, and El Jaspe were also tested to varying degrees throughout the years. Exploration success included
the drilling and discovery of the Escondida, Puerto del Aire, Gap, and San Carlos zones, which essentially define continuous mineralization from the Mulatos deposit through to San Carlos and the Puerto del Aire Extension, the easternmost gold
occurrence discovered to date. Gold mineralization is now known to occur continuously for at least 2.7 km to the northeast from the Estrella pit. 
 Substantial drilling programs have been completed by the Company since the Feasibility Study was completed in 2004. Including drilling completed in conjunction with the 2004 Feasibility Study, the
property has now been subject to over 337,400 m of drilling in 2,065 holes. The 2009, 2010 and 2011 years were the most productive for drilling with 72,400 m, 48,000 m and 52,300 m, respectively, of core and RC drilling completed. The majority of
this drilling was completed in proximity to the Mulatos deposit, however, some drilling activities focused on delineating other deposits in the district such as Cerro Pelon and La Yaqui or on testing other regional exploration targets such as El
Carricito. 
 2009 – 2011 Exploration Activities on the Salamandra Concessions 

Escondida 
 Development drilling necessary
for completion of the initial Escondida Main Zone (“EMZ”) and Escondida Hanging Wall Zone (“EHWZ”) resource estimate was completed in 2006. Additional drilling aimed at further defining the EMZ and delineating extensions of the
EHWZ was completed in 2008 and 2009 (10,400 m in 56 holes). 

  
  

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 The EHWZ is a stratiform zone of high-grade mineralization located directly on top of the large, low-grade EMZ deposit. A
392-metre bulk sample drift was driven into the EHWZ in 2006, which confirmed previous geologic interpretations and revealed a coarse native gold occurrence much more significant than suggested from the surface drilling. Pockets of very high
concentrations of native gold were routinely encountered. 
 A resource estimate for both the EHWZ and the EMZ was released in early 2007,
resulting in a 252,000-ounce increase in total contained ounces compared to the 2004 Feasibility Study estimate. However, the Company believes that the announced resource model underestimates the true grade of the EHWZ and hence the contained ounces
due to a pronounced nugget effect resulting from the abundant coarse gold within the zone. The mean gold grade of drift round samples was 25.48 grams per tonne of gold compared to 10.54 g/t Au of comparable estimated blocks using surface and
underground drill holes (as of December 31, 2008), a 128% difference which is not unusual in coarse gold situations. 
 Drilling at
Escondida for 2009 resulted in the discovery of a new high-grade zone to the northeast of the EHWZ and of a small southwest extension to the EHWZ. The newly discovered high-grade zone is located 100 m northeast of the faulted limit of the EHWZ and
overlain by 125 to 150 m of cover. Drilling fully delineated this zone and the drill-indicated dimensions are approximately 70 m along strike, 50 m in width, and up to 15 m thick. Drill hole 09EE116 returned the best intercept for that zone with an
uncut interval of 13.72 m grading 38.48 g/t Au. The southwest extension of the EHWZ is located at a vertical depth of 70 to 80 m from surface with drilling indicating a localized extension of the initial high-grade Escondida zone. Drill-indicated
dimensions are 30 m along strike, 30 m in width, and up to 8 m thick. RC drilling assay results confirm high-grade mineralization in the area with uncut intervals of 3.05 m grading 30.25 g/t Au in drill hole 09EE113, 10.67 m grading 4.25 g/t Au in
drill hole 09EE114, 6.15 m grading 146.70 g/t Au in drill hole 09EE121, and 9.15 m grading 30.54 g/t Au in drill hole 09EE123. 
 The Company
made a construction decision to build a gravity mill in the first half of 2009 to process high-grade ore from the Escondida zone. Development activities associated with waste removal at the Escondida portion of the Mulatos Pit commenced in 2009. The
Company invested over $61 million to develop the Escondida high-grade zone and this was completed in the first quarter of 2012. Detailed engineering and construction of the mill to process high-grade ore was completed throughout 2010 and 2011 and
high-grade production from the mill is expected in the first quarter of 2012. The total cost of construction of the mill was approximately $20 million. 
 In the latter part of 2011, an underground mine plan was developed for the northeastern portion of the Escondida High grade zone. This is an area that does not optimize into the current open pit designs.
These mineral reserves are presented as part of the Mulatos mineral reserves in the 2011 year end mineral resource and reserve update. As at December 31, 2011, the pit contained mineral reserves for the Escondida high-grade zone were 434,000
tonnes grading 11.81 g/t Au for 164,792 ounces. 
 Gap 
 The Gap zone is located midway between the Escondida and El Victor resource areas. Placer Dome conducted limited exploration during 1998, completing only a few wide spaced holes to demonstrate
mineralization continuity between the two resource areas. The zone is a down-faulted, post-mineral covered, block in the main mineralized trend between the north end of the Estrella pit (El Salto/Mina Vieja) and San Carlos. The Gap area has similar
geologic characteristics to the Main Escondida Zones with a large, blind area of concealed silica alteration that hosts both localized high-grade and thick lower-grade gold intercepts. Surface exploration drilling completed in 2006 and 2007 has
delineated a mineralized zone approximately 500 m long by 150 m wide, and up to 110 m thick, located directly between the Escondida and El Victor areas. In addition, drilling at Gap resulted in the discovery of high-grade ore intercepts, some in
excess of 30 g/t Au. 
 Surface drilling completed to the end of 2008 consisted of 38 RC holes on roughly 50-metre centers, for 8,540 m,
stepping out to the west from previous El Victor/Gap intercepts. In 2009 the Company continued with its definition drilling program and completed systematic drilling at 25 to 50 metre line-spacing between the Escondida and El Victor resource areas,
confirming the continuity of mineralization between the two areas; a total of 21,900 m in 106 holes was completed in 2009. The 2009 drilling resulted in the identification of Estrella pit average grade mineralized zones such as 41.57 m of 1.54 g/t
Au in 09EE098 and 59.14 m of 1.40 g/t Au in 09EE165, while several additional high-grade intercepts are indicating the potential for higher grade zones in the area; 14.46 m of 4.90 g/t Au in 09EE060, 9.14 m of 6.78 g/t Au in 09EE148, and 9.14 m of
7.85 g/t Au in 09EE163. 

  
  

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 El Victor 
 El
Victor surface and underground drilling was completed in 2006. The El Victor mineralized zone is approximately 50 to 150 m wide and has a 600-metre strike length with a thickness up to 50 m and is now known to be connected to the Gap zone. In the
fourth quarter of 2007, the Company reported a measured resource of 6,584,000 tonnes grading 1.04 g/t Au for 220,185 contained ounces and an indicated resource of 8,675,000 tonnes grading 1.00 g/t Au for 278,816 contained ounces (calculated at a 0.5
g/t Au cut-off). At December 31, 2008, a substantial portion of the El Victor resource area was upgraded to proven and probable reserves. 

In the fourth quarter of 2011, additional core and RC drilling was completed within the El Victor pit design, as part of the El Victor North exploration
program. 
 El Victor North 
 El
Victor North area is an exploration target contiguous with and north of the current El Victor portion of the Mulatos pit. The El Victor North area and the northern planned pit wall were not drilled during the definition drilling of the El Victor
reserve area due to a surface access conflict. Access to El Victor North was obtained in July 2011 after a twelve-year hiatus. 
 A total of
16,200 metres in 124 holes were drilled at El Victor and El Victor North in 2011, an additional 24 drill holes have been completed to date in 2012, and drilling is ongoing. Mineralization at El Victor North is the northwestern extension of El Victor
mineralization and is hosted by silica alteration identical to the El Victor deposit. The El Victor North area has over 300m of strike length, is up to 100m wide, remains open to the north, and has the potential to expand mineral reserves along the
northern boundary of the Escondida to El Victor trend. The top of the zone is located approximately 36m to 56m below surface. Recent drill results have indicated the potential to extend the El Victor pit north and west of the current pit design
outline. 
 Drill results from 2011 and 2012 are highlighted below and continue to demonstrate the potential of this zone: 

 

	 	•	 	 2.40 g/t Au over 59.5 metres (11EV119)

  

	 	•	 	 4.72 g/t Au over 45.7 metres (11EV120)

  

	 	•	 	 1.78 g/t Au over 29.0 metres (11EV124)

  

	 	•	 	 2.58 g/t Au over 59.5 metres (11EV132)

  

	 	•	 	 4.27 g/t Au over 16.8 metres (11EV134)

  

	 	•	 	 1.71 g/t Au over 44.2 metres (11EV150)

  

	 	•	 	 6.43 g/t Au over 35.1 metres (12EV171)

  

	 	•	 	 4.98 g/t Au over 50.3 metres (12EV173)

  

	 	•	 	 2.61 g/t Au over 44.2 metres (12EV176)

  

	 	•	 	 1.59 g/t Au over 45.7 metres (12EV182)

  

	 	•	 	 1.96 g/t Au over 71.6 metres (12EV187)

  

	 	•	 	 1.45g/t Au over 82.3 metres (12EV190)

  

	 	•	 	 1.98 g/t Au over 54.6 metres (11VT037)

 Gold mineralization at El Victor North may represent a sub-parallel mineralized trend to the El Victor-Escondida trend, and connect gold mineralization in the northwest portion of San Carlos, to gold
mineralization encountered north of the Escondida high grade zone. Drilling at El Victor North will continue in 2012 with the objective of continuing to expand mineral reserves and resources. The 2011 year-end mineral reserve and resource update for
El Victor included the results of drilling at El Victor North up to September, 2011. 

  
  

34 | ALAMOS GOLD INC 

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 Puerto del Aire 

The Puerto del Aire zone is a combination of structural and stratiform gold mineralization, 300 m south and parallel, to the North Estrella-San Carlos
trend. It corresponds to a large concealed zone which is contiguous with mineralization in the Estrella Pit. In 2008, the Company completed an initial mineral resource estimate at Puerto del Aire. Indicated resources totalled 8,907,000 tonnes
grading 1.09 g/t Au for a total of 311,000 contained ounces at a 0.5 g/t Au cut-off. Approximately 250 m of the zone was then drilled at sufficient density for classification as indicated resources, whereas another 300 m of drilling was only
sufficient for classification as inferred resources. Inferred resources were 5,935,000 tonnes grading 1.03 g/t Au for a total of 197,000 contained ounces at a 0.5 g/t Au cut-off. These mineral resources are in close proximity to the existing mining
operations, and resulted in a pit layback that extended the life of the existing Mulatos Mine operation. 
 As the zone remained open to the
northeast in late 2008, a total of 21,860 m in 74 holes of step-out drilling was completed in 2009. The main purpose of the 2009 drilling at Puerto del Aire was to confirm its extension to as much as 1.7 km from the Estrella pit, while the zone
remained open to the northeast. 
 At Puerto del Aire West, the area directly adjacent to the Estrella pit, 2009 definition drilling holes
returned grade and thicknesses similar to the Estrella pit, such as 76.20 m of 1.62 g/t Au in 09PA088 and 51.82 m of 1.58 g/t Au in 09PA089, with additional higher grade intercepts such as 13.72 m of 12.42 g/t Au in 09PA078 and 28.61 m of 3.50 g/t
Au in 09PA084, confirming the robustness of that zone. 
 At the Puerto del Aire Extension, it was determined that the zone continued to the
northeast, and drill holes completed in 2009 revealed the presence of a very large system of intense silica alteration concealed by post-mineral volcanic cover that had characteristics similar to both the high-grade Escondida and Puerto del Aire
West zones. Most intercepts reported in 2009 returned grade similar to the Puerto del Aire West zone with numerous intercepts consistently in the 2-3 g/t Au range over significant thicknesses such as 28.96 m of 2.81 g/t Au in 09PA159, 22.86 m of
3.32 g/t Au in 09PA162, 10.67 m of 3.02 g/t Au in 09PA162, 12.20 m of 2.41 g/t Au in 09PA167, 28.97 m of 2.41 g/t Au in 09PA172, 16.77 m of 2.49 g/t Au in 09PA174, and 13.72 m 2.48 g/t Au in 09PA180. 

High-grade intercepts were also reported with drill hole 09PA144 yielding a 50.30 m intercept of high-grade mineralization grading 10.06 g/t Au,
including a 16.77 m interval grading 27.16 g/t Au; drill hole 09PA150, which is located 55 m to the south of drill hole 09PA144, encountered 3.04 m of high-grade material grading 14.66 g/t Au within a 19.81 m interval grading 2.77 g/t Au (all
intervals correspond to down-hole thicknesses). The high-grade zone in hole 09PA144 occurs near the top of the silicified interval, although similar to the Escondida high-grade zone, but appears to be a new type of mineralization within the Mulatos
district; that is, the altered silica is extremely cryptocrystalline, sulphide-deficient, and has no associated copper, arsenic, or silver. 

Definition and exploration drilling continued in 2010 in the Puerto del Aire Extension zones with a total of 22,138 m completed in 89 holes. The Puerto
del Aire mineralized zone was therefore extended to the northeast for a minimum of 2.5 km from the Estrella pit with the furthest 400 m located on the east side of the Mulatos River. The Company continued to report substantial mineralized intercepts
typical of the zone such as 18.3 m grading 1.05 g/t Au, 21.3 m grading 1.23 g/t Au, 6.1 m grading 3.20 g/t in 10PA199, and 38.1 m grading 0.81 g/t Au 10PA203. Furthermore, an additional higher grade zone was intersected approximately 400 m east of
the zone reported in 2009 (hole 09PA144) with intercepts such as 18.3 m grading 2.70 g/t Au in 10PA192, 15.3 m grading 4.08 g/t Au in 10PA204 and 14.5 m grading 3.04 g/t Au in 10PA218. These three holes have outlined a higher-grade zone with a
strike length of approximately 200 m, an average thickness of approximately 15 m, and an average width of more than 50 m. As of December 31, 2010, a portion of the Puerto del Aire West resource was upgraded to proven and probable reserve while
the remainder of Puerto del Aire is reported in the measured, indicated and inferred resource categories. 
 Drilling continued at the eastern
part of Puerto del Aire in early 2011, and the Company is currently in the process of assessing the viability of mining and processing certain higher-grade zones within Puerto del Aire. 

  
  

35 | ALAMOS GOLD INC 

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 San Carlos 

The San Carlos resource area is located to the northeast of the proposed El Victor Pit, on the east side of the Mulatos River, along the continuous
structural trend that controls gold occurrences from the Mulatos pit. San Carlos is the easternmost gold occurrence discovered to date along this trend. 
 In 2006, Alamos completed an RC drill program at San Carlos that consisted of 6,303 m in 33 holes. The drilling resulted in the delineation of an extensive area of blind mineralization extending a minimum
of 400 m to the northeast from the Mulatos River. Significant gold-bearing intervals from the 2006 drill program included 35.0 m of 2.99 g/t Au and 48.8 m of 4.69 g/t Au, as well as a more restricted high-grade intercept of 4.6 m of 36.11 g/t Au.
The best holes from the program were generally located at the edge of the drilled area, with intercepts open to the northeast. 
 In November
2009, the Company commenced a definition drilling program at San Carlos after completing geological mapping of the historic underground mine workings to ascertain gold controls. The objectives of the 2009 drill program were to upgrade the
established inferred resources to the measured and indicated category through infill and step-out drilling, expand the known limits of the mineralized system, and further define the structurally controlled high-grade zone. In 2009, the Company
drilled a total of 6,694 m in 27 holes with the best results as follows: 32.0 m grading 13.97 g/t Au, 10.7 m grading 40.50 g/t Au, 9.2 m grading 9.35 g/t Au, 27.4 m grading 6.98 g/t Au, 12.2 m grading 25.57 g/t Au, 41.2 m grading 3.85 g/t Au, 38.1 m
grading 2.03 g/t Au, and 28.96 m grading 1.99 g/t Au. The majority of the 2009 drill holes were designed to test targets generated from the 2006 drill program. 
 Drilling continued in 2010 with an additional 13,983 m completed in 65 holes. Highlights from the 2010 drilling program include 12.2 m grading 6.61 g/t Au, 42.7 m grading 6.07 g/t Au, 37.5 m grading 11.61
g/t Au and 29.0 m grading 15.02 g/t Au, continuing to demonstrate the continuity and robustness of the San Carlos zone. Drilling in 2010 was specifically oriented towards evaluating the high-grade zones identified from 2009 drilling and the
underground geologic work. 
 The results of the 2006 San Carlos exploration program were compiled in 2008 and resulted in an inferred resource
estimate for San Carlos of 7,496,000 tonnes at an average grade of 1.29 g/t Au for a contained resource of 310,000 ounces at a 0.5 g/t Au cut-off. Drilling in 2009 and 2010 upgraded the inferred resource at San Carlos to the measured and indicated
categories and increased the overall resource base substantially. Results of the mineral resource calculation update at San Carlos were disclosed as part of the 2010 global mineral resource and reserve update and mineral reserves at San Carlos were
reported for the first time. 
 In 2011, the Company’s drill program focused on delineating new high-grade mineral resources. Throughout
the year, the Company drilled 7,400 m in 21 holes with notable results as follows: 
  

	 	•	 	 4.57 m at 19.54 g/t Au 

  

	 	•	 	 16.77 m at 1.28 g/t Au 

  

	 	•	 	 36.59 m at 4.37 g/t Au 

  

	 	•	 	 9.14 m at 30.45 g/t Au 

  

	 	•	 	 13.71 m at 19.09 g/t Au 

  

	 	•	 	 13.72 m at 5.80 g/t Au 

  

	 	•	 	 3.05 m at 22.56 g/t Au 

  

	 	•	 	 3.04 m at 3.37 g/t Au 

  

	 	•	 	 12.20 m at 1.09 g/t Au 

The results of the 2011 drilling confirmed the continuity of the high-grade mineralization towards the northeast and the discovery of additional en
echelon structural high-grade zones to the northeast of the main San Carlos mineral resource. The Company identified at least two additional sub-parallel structures, located up to 600 m from the mineral resource area, with surface mapping
indicating the potential for additional zones to the northeast. The new zones are located at the same elevation as the existing mineralization but under significant overburden and are potentially amenable to underground mining. Additional
wide-spaced drilling is planned to define the extent of the new mineralized zones. 

  
  

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 In addition, in 2011 the Company received positive results from metallurgical testing conducted on the high-grade ore
previously identified at San Carlos. Two high-grade composite samples from the 2010 core drilling program at San Carlos were submitted for metallurgical testing. Testing was optimized to replicate the gravity plant that the Company is currently
constructing to process the high-grade ore at Escondida. Initial test results revealed that the high-grade ore at San Carlos is amenable to gravity separation and can be processed economically through the gravity plant. Approximately 57% and 69% of
the contained gold in the two composites were recovered through gravity separation, and ultimate recovery rates were 70% and 78% respectively, when the tailings were leached with cyanide. These levels of ultimate recovery are 15% to 20% higher than
leaching the high-grade ore at San Carlos alone. The potential to improve these recovery rates exists and will be evaluated in the next phase of testing. 
 As at December 31, 2011 and using an anticipated cut-off grade of 3 g/t Au for the gravity plant, “in-pit” mineral reserves at San Carlos total 649,000 tonnes grading 7.67 g/t Au for
160,043 ounces. The Company believes the high-grade San Carlos mineral reserves and resources could substantially increase the mill feed for the gravity plant. 
 In 2011, the Company initiated an open pit and underground mining trade-off study for San Carlos. Additional optimization studies are on-going. 
 Cerro Pelon 
 During 2008, the Company announced the discovery of a new gold zone at Cerro
Pelon. Cerro Pelon is located approximately 2.5 km southwest of the leach pad area and was a high-priority regional target for the Company, given both its proximity to existing mining operations and its geologic similarity to the Mulatos deposit.

 Gold at Cerro Pelon is hosted within oxidized vuggy silica, starting at the surface and extending to over 90 m at depth. Step-out drilling
and detailed surface mapping has indicated that the zone has both structural and stratigraphic-controlled components, with gold appearing to be controlled primarily by late-stage structurally-controlled hydrothermal breccias of both northeast and
northwest trends. Drill holes within the broad breccia zones contain strong gold concentrations whereas those outside the zones are generally barren. Post-mineral fault offset is also indicated, complicating the zone interpretation. The upper 70 to
100 m of the zone is completely oxidized, determined both visually and by very low sulphur concentrations from geochemical analyses. Preliminary cyanide-extractable analyses from the oxidized portion of the zone indicate 90-97% gold recovery,
suggesting the zone is non-refractory in nature. 
 The Company announced significant drill intercepts from first phase drilling at Cerro Pelon
in 2008, including 91.5 m of 1.43 g/t Au and 90 m of 1.97 g/t Au. Drilling in 2008 totalled 69 holes representing 10,900 m. Step-out and definition drilling was completed in 2009 with up to three drill rigs for a total of 7,170 m in 65 holes
drilled. The latest drill holes returned some of the best intercepts in the district outside of the Mulatos deposit, including 129.6 m of 2.42 g/t Au, 158.5 m of 1.55 g/t Au, 21.65 m of 4.11 g/t Au, 50.3 m of 3.57 g/t Au, and 57.95 m of 2.00 g/t Au.
The 2009 core drilling program was successful in establishing mineralization continuity with an oxidized zone of gold-bearing vuggy silica delineated that is roughly 250 m long, 30 to 80 m in width, and 70 to 150 m thick. Drill hole intercepts show
a roughly semi-circle shaped mineralized zone, with the eastern half removed by faulting. 
 Geological modelling and 3D modelling was completed
in September 2009, followed by a mineral resource estimate in November 2009. The results of the resource calculation were integrated into the global resource & reserve numbers for 2009; the majority of mineral resources at Cerro Pelon were
classified as measured and indicated. Ongoing engineering work and economic evaluation initiated in 2009 resulted in an upgrade of a portion of the measured and indicated resources to the reserve category. 

As at December 31, 2011, probable reserves at Cerro Pelon were 2,673,000 tonnes grading 1.64 g/t Au for 140,525 contained ounces of gold. The
Company is in the process of negotiating with landowners in order to secure the surface rights to commence development of Cerro Pelon. 

  
  

37 | ALAMOS GOLD INC 

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 La Yaqui 

During 2007, the Company successfully negotiated three new surface access agreements, allowing exploration into three high-priority targets for the first
time since 1997, including the La Yaqui area. Drilling at La Yaqui in the fourth quarter of 2007 produced immediate success outlining an oxide gold zone exposed at surface with numerous ore-grade intercepts including 44.2 m of 2.73 g/t Au and 30.0 m
of 3.33 g/t Au. Definition drilling was completed in 2008 with an additional 7,200 m in 50 holes drilled. 
 The La Yaqui near-surface oxide
gold zone is located approximately 9.5 km southwest of the Estrella Pit. The results of drilling at La Yaqui were incorporated into the Company’s measured and indicated resource statement as of December 31, 2008. In 2009, the Company
completed engineering work and an economic evaluation and reported probable reserves of 1.6 million tonnes at 1.58 g/t Au for a total of approximately 80,000 ounces as of December 31, 2009. 

As at December 31, 2011, probable reserves at La Yaqui were 1,574,000 tonnes grading 1.58 g/t Au for 79,826 contained ounces of gold. The Company is
in the process of negotiating with landowners in order to secure the surface rights to commence development of La Yaqui. 
 Estrella Pit

 As part of its ongoing modelling and resource/reserve reconciliation, infill drilling programs comprising 3,700 m in 22 RC drill holes and
5,000 m in 46 RC holes were completed within the Estrella Pit in 2009 and 2010, respectively. The objectives of these programs were to infill parts of the block model where information was lacking and to assist in further delineating low-recovery
sulphide zones within the pit. 
 Aside from confirming expected grade and thicknesses of the block model, the in-pit drilling encountered an
exceptional intercept located at the northern edge of the actual pit. A 141.77 m interval grading 7.81 g/t Au, including 33.54 m of 23.18 g/t Au, was reported from vertical drill hole 09AM045; this intercept is believed to be the highest
grade-thickness interval ever reported at Mulatos. The deeper portions of this interval contain high copper (“Cu”) concentrations with up to 3.5% Cu within a 62.59 m intercept grading 2.55 g/t Au and 0.51% Cu, from 123.48 to 185.98 m down
hole. Deep high-grade refractory mineralization in this area was known to exist from previous drilling but may be more extensive than modeled due to difficulty in drilling the northeast part of the deposit from surface at that time. The lower part
of the interval did not form part of the optimized pit in 2008 but was integrated into the 2009 resource and reserve statement. The hole demonstrates that localized occurrence of high-grade mineralization within the deposit are not fully quantified
in the resource model due to drill density, and may partially explain why current production head grade frequently exceeds the predicted block model grade. 
 El Carricito 
 El Carricito is the largest area of favourable silicic and advanced argillic
alteration in the Mulatos District. The zone of alteration is approximately 5.5 kilometres long, up to 2.7 kilometres wide, and is up to 300 metres thick in outcrop. Based on initial assessments, El Carricito appeared to be a better preserved
high-sulfidation system than Mulatos. There is at least 300 m of vertical relief at the El Carricito system, twice that of Mulatos. At El Carricito, the top portion of the mineralized system has been preserved, whereas Mulatos is eroded deeper with
the Estrella zone exposed at surface. Furthermore El Carricito is its own volcanic center, is at least the same size as Mulatos, and has similar types of alteration, structural control, and rock types as those present at Mulatos, but with deeper
oxidation. Due to its size, there is a possibility that Estrella deposit-types exist at depth or laterally at El Carricito. El Carricito could also host Escondida type targets which are more difficult to find, because of their relatively smaller
footprint, especially if concealed and at depth. 
 Reconnaissance geologic mapping, rock chip, and soil grid sampling was completed at El
Carricito in 2009. The 2009 surface work identified significant gold geochemical anomalies, which at least partially overlap the silica altered zones. The objective of the 2009 program was to generate drill targets that could be drill-tested in
2010. 

  
  

38 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Exploration drilling at El Carricito began in late 2010 and continued throughout the majority of 2011. Drilling has intersected
broad zones of favourable alteration containing low-grade gold mineralization, with the best intercept at El Carricito being 85 m grading 0.53 g/t Au in hole 11CR77. An area of low-grade gold mineralization with local ore-grade intercepts has been
delineated. RC drilling has been completed on 50 m centers sufficient for resource estimation, and core twins of select intercepts are in progress. 
 A total of 20,642 meters in 113 reverse circulation holes were drilled at Carricito in 2011, both as a resource definition and as exploration target evaluation holes. In addition, six core holes (588 m)
were completed. Phase I exploration terminated in 2011, and the exploration results are being reviewed. A Phase 2 exploration program will be planned based on a review of the Phase 1 results. 
 2012 Exploration Outlook for Mulatos 
 The Company plans to continue its aggressive
exploration program in 2012 with over 22,500 m of drilling budgeted. Exploration activities in 2012 will focus on in-fill and step-out drilling at San Carlos through to Escondida. Phase II exploration will commence on El Carricito in the second half
of 2012, and surface geochemical sampling, data compilation and geological mapping on earlier-stage generative targets within the Salamandra Concessions. 
 Logging, Sampling Methodology, Sample Preparation, Analysis, Sample Custody 
 The drilling
methods utilized at Mulatos are RC using a center return bit, diamond drill coring using HQ and NQ diameter rods, and underground diamond drilling using NQ thin-wall core (for certain areas such as El Victor and Escondida). 

Logging, sampling, and analysis procedures were historically established by previous operators, prior to the 2004 Feasibility Study, and are still being
used today apart from refinements and adjustments necessary to comply with current Quality Assurance/Quality Control (“QA/QC”) procedures and NI-43-101 requirements. Logging and sampling methodologies and procedures are documented,
routinely updated, and maintained by the Company’s exploration department. 
 Geologists log drill core holes on site at Mulatos or in
Matarachi. Core is logged on a hole by hole basis with data entered in a digital file for future analysis and processing. RC holes are logged from chip trays containing representative samples collected from each 1.5-metre sample interval. After
completion of geological and geotechnical logging and collection of additional information such as specific gravity, geologists define and label the intervals to be sampled, ranging from 0.25 to 1.5 m, depending on geological characteristics.

 Drill core is cut and sampled at site at Mulatos or in Matarachi while RC samples are collected directly at the drill site. For RC drill
holes, a sub-set of the sample cuttings is bagged, inventoried, prepared and shipped to Hermosillo for analysis. For core drill holes, half-core samples are prepared using a diamond core saw, with 1.0-metre intervals as standard sample lengths in
rock types presenting similar geological characteristics, bagged, tagged, sealed and shipped in batches to the assaying laboratory. When applicable, core from metallurgical and geotechnical drill holes are cut in half with one half of the core sent
for analysis, while the reject is used for metallurgical testing. Metallurgical and geotechnical drill holes are logged at site in a similar manner to other core drill holes. Geologic logging and sample interval definition are completed by
geologists; geotechnical logging including Rock Quality Designation (“RQD”), core recovery and specific gravity measurements are usually done by geological technicians. In addition, specific sampling procedures were implemented for round
and bulk samples obtained from the underground exploration adit completed in 2006 in the high grade zone. Note that the results of the bulk sample tests were not used for resource estimation purposes but rather for internal comparative assessments.
When applicable, underground channel sampling was supervised by a geologist, and consisted of 1.5-metre channels approximately 12 centimetre (“cm”) wide and 7.5 cm deep. 
 Laboratory sample preparation and analysis is in accordance with strict and industry recognized protocols and procedures. For RC samples, an approximate 10 kg sub-sample is sent to the lab. After drying,
a 250-300 gram sub-set is crushed, riffle spilt, and pulverized. A one assay-ton (30 grams) sample is then collected for precious metal analysis (Au & silver – “Ag”) by fire assay with atomic absorption finish
(“FA-AA”). For sample assaying 

  
  

39 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 
above 5 g/t Au under FA-AA, a fire assay with gravimetric finish (“FA-GR”) is also performed. A smaller pulverized sub-sample (3-5 grams) is also taken for multi-elements ICP analysis,
when requested by the geologists. Samples with Au assay results above 0.3 g/t Au are assayed by the hot-cyanide method (Au and Cu) to help assess the Au recovery potential; the results of these tests are also used for the recovery model. For core
samples, the entire half of the core sample received at the lab is crushed; a 250-300 gram spilt is collected, pulverized and assayed using the methodology described above. Samples are now sent to ALS Chemex Inc. in Hermosillo, Mexico for sample
preparation and then sent to ALS Chemex’s Vancouver lab for analysis. Other labs, including Inspectorate and others, were used in the past with documentation available in individual drill logs. Check assay work was usually performed at Skyline
Labs in Tucson, Arizona. 
 QA/QC procedures are performed systematically at Mulatos. Blind, standard and blank samples are systematically
inserted on a regular sample batch interval, generally every 25-30 samples, and are routinely evaluated when results are received. Duplicate samples are selected at regular intervals, with the duplicate retrieved by the assaying laboratory personnel
after the sample has been crushed, basically representing a separate split. Check assays of pulverized pulps are performed by a second lab and generally represent 5-10% of the entire sample database. Comparisons and reconciliation between original
and check assays are done routinely during drilling, and systematically before any resource estimation exercise. 
 Sample custody is ensured
on-site by continuous inventorying and monitoring of the RC cuttings and drill core. Once samples are prepared, using the methodologies described above, they are inventoried, individually bagged, tagged and sealed in larger bags for transport to the
assay lab. The laboratories used for analysis are certified and follow strict, industry recognized, QA/QC protocols. Audits of the assaying labs are performed occasionally. 
 For disclosure purposes, a 0.5 g/t Au cut-off grade is used for calculation of composite intervals, with only a single 1.5-metre interval of sub-0.5 g/t Au material allowed within a composite interval;
assay results are generally presented uncut. 
 Modelling and Estimation 
 Main Targets Areas (Estrella, El Víctor, Puerto del Aire, La Yaqui, Gap, San Carlos, Cerro Pelon) 
 Similar logging, sampling and analytical procedures as described under the “Logging, Sampling Methodology, Sample Preparation, Analysis, Sample Custody” section above apply for this area. The
exploration programs were conducted by the Company under the direction and supervision of the Vice President of Exploration and/or Manager of Exploration for Mexico, who are Qualified Persons (“QP”) as defined by the NI-43-101. Resource
estimates prior to 2009 were completed by an independent Qualified Person as defined by NI 43-101. Starting in 2009, resource estimation was managed under the supervision of the Company’s Director of Mineral Resources, who is also a QP.

 The following procedures are generally followed for modelling and estimation. Block gold grade estimation is constrained by geology envelopes
that are constructed using alteration distribution, known geologic controls, and anomalous gold mineralization. Gold grades are estimated using both ordinary kriging (“OK”) and inverse distance cubed interpolation with searches oriented
along known mineral controls. Gold resource classification is based on proximity to drill hole data, the number of composites used in the estimate, and geostatistical variography. Measured resources are generally defined (note that this criteria may
vary from zone to zone) as blocks within 10 m of drill hole data and blocks within 15 m of drill data and informed by at least 18 composites (6 holes). Indicated resources are generally defined (note that this criteria may vary from zone to zone) as
blocks between 15 to 35 m from drill hole data and those blocks at less than 15 m from data with less than 18 composites used in the estimate. Indicated resources also required that at least two drill holes were used in the estimate at the outer
boundary (35 m). Inferred resources are defined (note that this criteria may vary from zone to zone) as those blocks greater than 35 m from drill hole data, and up 74 metres. 
 Geologic solids are constructed from observed data collected during the core and chip logging processes, and from data acquired through the use of a infrared reflectance spectrometer. Geologic solids
comprise rock types, oxidation, silica alteration, and intensity of argillic alteration. At Gap and La Yaqui, solids were also created for the clay species, interpreted from reflectance spectra data. Mineralized shapes within which gold estimation
was conducted, 

  
  

40 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 
were constructed from the occurrence of silica alteration, and argillic alteration intensity (Gap), and silica alteration, and alteration from infrared spectrometry (San Carlos and La Yaqui). In
addition, the occurrences of logged breccia units at San Carlos were used to construct the mineralization envelope. Hard boundaries to gold estimation were also assigned to air, post mineral rocks and alluvial/colluvial material, and in some cases,
faults. At San Carlos, solids were constructed for the post-mineral intermediate dykes, and applied as a hard boundary to estimation. Gold estimation was conducted by OK at San Carlos and La Yaqui, on three metre by three metre by three metre
blocks. Composites were 1.52 m, and cutting was applied to gold values above 13 g/t Au at La Yaqui, and 30 g/t Au at San Carlos. 
 In 2010, a
complete re-modelling was done at Mulatos in order to bring all resource areas except San Carlos within one single model. The model was re-estimated using that single model with the OK method selected for disclosure. Excellent agreement was found
between both OK and the inverse distance cubed method used previously. 
 Escondida High Grade Zone 

The following procedures were followed for initial modelling and estimation of the Escondida High Grade Zone. Drill hole samples were composited to three
metres before detailed geostatistical and spatial correlation studies were applied. High-grade samples were top cut to 120 g/t Au before compositing. A three-metre block was selected to best honour mineralization boundaries of the zone. Search radii
were restricted to accommodate the coarse gold effect. Detailed statistical studies were made to compare core recovery to gold grade and core to RC samples. Core loss resulted in strong negative bias toward high-grade intervals due to the highest
grades occurring in the most difficult material to recover. Statistical comparison of gold grades for core holes and RC drill holes within 4.5 m of each other indicates that core grade is approximately half of the average RC sample grade, primarily
due to core loss and sample volume differences in a coarse gold environment. RC samples were drilled dry with a center return bit and are the highest confidence samples. Low-confidence core intervals were removed from the database used for grade
estimation, and only RC composite samples were used for the final resource estimate. Twenty-three additional RC holes (1,784 m) were drilled into the Escondida Hanging Wall Zone during August and September 2006 to provide higher-confidence data
where low-confidence core with poor recovery existed. Grade estimates in the Escondida Hanging Wall Zone were made using OK, inverse distance squared and inverse distance cubed methods, with the latter initially being selected as the method that
best honoured the composite drill data. In 2009, after further testing and evaluation, the OK estimation method was adopted. 
 Metallurgy

 The Mulatos deposit and surrounding deposits are amenable to cyanidation and heap leaching, as determined by lab scale testing in the 2004
Feasibility Study. The 2004 Feasibility Study indicated that mineralized material varies from pure oxide to pure sulphide, with gold recovery typically varying from 55% to 90% as material grades from sulphide to oxide. The average recovery in the
2004 Feasibility Study was estimated to be between 72% and 74% for the Estrella Pit. Applying the modified recovery formulas to the block model has resulted in an estimated average recovery of 72.9%. Actual recoveries experienced since the
commencement of operations have been below the 2004 Feasibility Study level of 72.9% as run-of-mine un-crushed material, coarse crushed material and an area of low-recovery material were stacked on the leach pad at various times since mine
commissioning. The Company has completed a number of operational initiatives that have improved leach pad percolation and resulted in higher gold recoveries, including conveying and stacking ore on the leach pad, implementing a drum agglomeration
process and closing the crushing circuit to reduce the crusher discharge size to as close to 100% passing 3/8 of an inch as possible. As a result, recoveries have improved significantly. 
 In 2011, the Company obtained the results of metallurgical testing completed on high-grade ore from San Carlos, which indicated that it is amenable to processing in the high-grade mill. Other ore types
will be tested in 2012, including from El Victor and El Victor North. 
 For 2012, the Company has budgeted recovery of 72% based on the block
model indicated recoveries for the ore-types to be mined. Not all mineral deposits in the vicinity of the Mulatos Mine are amenable to economic heap leaching. Recoveries from the high-grade mill are expected to be in excess of 90%. 

  
  

41 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Mineral Resources 
 The 2004 Feasibility Study identified that the exploration programs completed by Alamos, Placer Dome, Kennecott and Minera Real de Angeles had delineated measured and indicated resources of
62.2 million tonnes grading 1.51 g/t Au, totalling over 3 million ounces of gold. These resources were contained only in the Estrella, Mina Vieja and Escondida areas of the Mulatos deposit. The Gap, Puerto del Aire, El Victor and San
Carlos portions were not included in this determination of mineral resources. 
 On March 20, 2007, the Company reported a revised global
mineral resource for the Mulatos deposit as at December 31, 2006. The updated measured and indicated global resource inclusive of mineral reserves was 91.2 million tonnes grading 1.26 g/t Au (0.5 g/t cut-off), for 3.7 million
contained ounces of gold. The Company also reported 14.5 million tonnes grading 0.99 g/t Au in the inferred category, for 0.5 million contained ounces of gold (0.5 g/t cut-off). 
 The mineral resource estimate as at December 31, 2007 included the El Victor area and measured and indicated resources (inclusive of mineral reserves) were reported at 96.3 million tonnes at a
grade of 1.17 g/t Au at a 0.5 g/t cut-off, for 3.6 million contained ounces. The Company also reported 15.6 million tonnes grading 0.96 g/t Au in the inferred category, for 0.5 million contained ounces of gold at a 0.5 g/t cut-off.

 The global mineral resource estimate for the Mulatos and El Victor deposits at December 31, 2008 (exclusive of mineral reserves) was
52.6 million tonnes grading 0.98 g/t Au for 1.7 million ounces of gold, representing a 14% decrease in measured and indicated ounces compared to 2007, due primarily to the conversion of previously reported measured and indicated resources
at El Victor, and Puerto del Aire into reserves. Inferred mineral resources at December 31, 2008 comprised 32.6 million tonnes grading 1.00 g/t Au, for 1.0 million ounces of gold, at a 0.5 g/t Au cut-off. 

In March 2010, the Company reported revised measured and indicated and inferred resources (exclusive of mineral reserves) as at December 31, 2009.
At a 0.5 g/t Au cut-off, measured and indicated resource ounces increased 14% to 60.0 million tonnes grading 0.97 g/t Au, for 1.9 million contained ounces of gold. Inferred resource ounces decreased by 11% from the prior year end to
25.8 million tonnes at 1.12 g/t Au, for 0.9 million contained ounces. 
 In March 2011, the Company reported updated mineral resources
(exclusive of mineral reserves) as at December 31, 2010. Measured and indicated resources (0.5 g/t Au cut-off) increased 47% to 85.5 million tonnes grading 1.00 g/t Au, for 2.75 million contained ounces of gold. Inferred resource
ounces decreased by 44% from the prior year end to 16.9 million tonnes at 0.93 g/t Au, for 0.51 million contained ounces. The increase in overall resource ounces was attributable to the inclusion of additional resources at San Carlos,
Puerto del Aire and Escondida and the use of a higher gold price assumption. 
 On March 26, 2012, the Company reported measured and
indicated resources (exclusive of mineral reserves) as at December 31, 2011 of 85.0 million tonnes grading 1.01 g/t Au, for 2.77 million contained ounces of gold (0.5 g/t Au cut-off). The increase is primarily attributable to the
conversion of inferred mineral resources into the measured and indicated categories, and the delineation of new resources through infill drilling and extension drilling. Measured, indicated and inferred resources as at December 31, 2011
are summarized in the tables below: 
  

																			
	
Mulatos Mine - Measured and Indicated Mineral Resources 1,2,3
 As at December 31, 2011

	 	  	Measured	  	Indicated	  	Measured +
Indicated
	Cut-off  	  	Tonnes	  	Grade  	  	Contained 	  	Tonnes  	  	Grade  	  	Contained  	  	Tonnes	  	Grade 	  	Contained
	(g/t Au)  	  	(000s)	  	 (g/t  
 Au)  
	  	Ounces Au 	  	(000s)  	  	(g/t Au)  	  	Ounces Au  	  	(000s)	  	(g/t Au) 	  	Ounces Au
	  
 2.00  
	  	699	  	4.17  	  	93,704 	  	4,948  	  	3.38  	  	537,036  	  	5,674	  	3.47 	  	630,740
	  
 1.50  
	  	1,214	  	3.13  	  	122,109 	  	9,419  	  	2.59  	  	784,025  	  	10,633	  	2.65 	  	906,134
	  

1.00  
	  	2,595	  	2.11  	  	175,662 	  	21,536  	  	1.81  	  	1,251,513  	  	24,131	  	1.84 	  	1,427,175
	  
 0.70  
	  	4,816	  	1.51  	  	234,049 	  	43,913  	  	1.31  	  	1,848,584  	  	48,729	  	1.33 	  	2,082,633
	  
 0.50  
	  	7,818	  	1.16  	  	290,657 	  	77,173  	  	1.00  	  	2,475,562  	  	84,991	  	1.01 	  	2,766,219
	  
 0.30  
	  	13,197	  	0.85  	  	361,974 	  	147,200  	  	0.71  	  	3,356,485  	  	160,397	  	0.72 	  	3,718,459

  
  

42 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
  

	(1) 	 The updated mineral resource estimate for the Mulatos Mine incorporates the Estrella, Escondida, Puerto del Aire, El Salto, Mina Vieja, El Victor, and
San Carlos areas. 

	(2) 	 In-pit measured and indicated resource blocks are exclusive of the pit contained reserves. 

	(3) 	 Measured and indicated resources outside of the Mulatos pits have no economic restrictions and are tabulated by gold cut-off grade.

  

							
	
Mulatos Mine – Inferred Mineral Resources
1, 2

As at December 31, 2011

	Cut-off	 	Tonnes	 	Grade	 	Contained
	(g/t Au)	 	(000s)	 	(g/t Au)	 	Ounces Au
	  
 2.00
	 	794	 	3.14	 	80,207
	  
 1.50
	 	1,848	 	2.33	 	138,669
	  
 1.00
	 	3,880	 	1.74	 	217,562
	  
 0.70
	 	8,43	 	1.27	 	327,780
	  
 0.50
	 	17,432	 	0.90	 	506,031
	  
 0.30
	 	37,488	 	0.63	 	755,141

  

	(1) 	 The updated mineral resource estimate for the Mulatos Mine incorporates the Estrella, Escondida, Puerto del Aire, El Salto, Mina Vieja, El Victor, and
San Carlos areas. 

	(2) 	 In-pit inferred, and inferred resources have no economic restrictions and are tabulated by gold cut-off grade. 

Mineral Reserves 
 Mining of the Mulatos
deposit from the commencement of production to the end of 2008 was focused on the Estrella Pit. The 2004 Feasibility Study estimated mineral reserves in the Estrella Pit of 1.92 million contained ounces using a gold price assumption of $350 per
ounce. At December 31, 2006, mineral reserves in the Estrella Pit were 31.9 million tonnes at a grade of 1.64 g/t Au for total contained ounces of 1.7 million contained ounces. At December 31, 2007, the Company reported proven
and probable mineral reserves in the Estrella Pit of 1.3 million contained ounces (24.3 million tonnes at a grade of 1.68 g/t Au), calculated at a gold price of $600 per ounce of gold. 
 At December 31, 2008, the proven and probable mineral reserve estimate was 47.7 million tonnes at a grade of 1.35 grams per tonne gold for 2.1 million ounces of contained gold, representing
a significant increase in mineral reserves compared to 2007. The 2008 updated mineral reserve estimate was calculated using a $700 per ounce gold price and incorporated not only the Estrella Pit, but also the Escondida, part of Puerto del Aire
(“PdA”), El Salto and Mina Vieja areas which were consolidated and reported as part of the “Mulatos pit”, and El Victor which is reported separately as the “El Victor pit”. Reserves at PdA and El Victor were reported
for the first time in 2008. The life-of-mine model for the Mulatos pit at December 31, 2008 had a waste-to-ore ratio of 1.60:1, and the El Victor pit had a 1.23:1 waste-to-ore ratio. 
 The Company reported proven and probable mineral reserves of 61.6 million tonnes grading 1.21 g/t Au for a total of 2.4 million contained ounces as at December 31, 2009. This represented an
increase in mineral reserve ounces of 17% over mineral reserves reported as at December 31, 2008. The increase is attributable to a number of factors. Initial mineral reserves at La Yaqui and Cerro Pelon resulted in adding over 0.2 million
contained ounces to mineral reserves. In addition, applying a higher gold price assumption in the calculation of mineral reserves resulted in reducing the planned mining cut-off grade, and converting material previously classified as waste to ore.

 The Company reported proven and probable mineral reserves of 58.5 million tonnes grading 1.27 g/t Au for a total of 2.39 million
contained ounces as at December 31, 2010, similar to the number of proven and probable reserve ounces in the previous year. The inclusion of mineral reserves at San Carlos, incorporating new zones at Escondida and the use of a higher gold price
assumption resulted in increases to proven and probable reserves, which were offset by the number of contained ounces mined during 2010. 
 On
March 26, 2012, the Company reported proven and probable mineral reserves of 65.0 million tonnes grading 1.14 g/t Au for a total of 2.39 million contained ounces as at December 31, 2011, consistent with proven and

  
  

43 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 
probable mineral reserve ounces in the previous year. The inclusion of additional reserves at the El Victor it and the use of a higher gold price assumption resulted in increases to proven and
probable reserves, which were offset by the number of contained ounces mined during 2011. 
 Proven and probable reserves as at
December 31, 2011 are summarized in the table below: 
  

																																					
	  
 PROVEN AND PROBABLE RESERVES 1

 
 As at December 31, 2011

 
	 
	 	  	 	Proven 2	  	  	 	Probable 2	  	  	 	Proven + Probable 2	  
	RESERVE AREA	  	Tonnes  	 	  	Grade  	 	  	Contained  	 	  	Tonnes  	 	  	Grade  	 	  	Contained   	 	  	Tonnes   	 	  	Grade   	 	  	  Contained  	 
	 	  	 	(000)  	  	  	 	(g/t Au)  	  	  	 	Ounces  	  	  	 	(000)  	  	  	 	(g/t Au)  	  	  	 	Ounces   	  	  	 	(000)  	  	  	 	(g/t Au)   	  	  	 	  Ounces  	  
	 Mulatos
Mine 3, 4, 5
	  	 	8,626  	  	  	 	1.55  	  	  	 	423,659  	  	  	 	48,788  	  	  	 	0.98	  	  	 	1,527,442   	  	  	 	57,414  	  	  	 	1.08 	  	  	 	1,951,101	  
	 Existing
stockpiles
	  	 	3,347  	  	  	 	2.01  	  	  	 	216,550  	  	  	 	-  	  	  	 	-	  	  	 	-   	  	  	 	3,347  	  	  	 	2.01 	  	  	 	216,550	  
	 La Yaqui
6
	  	 	-  	  	  	 	-  	  	  	 	-  	  	  	 	1,574  	  	  	 	1.58	  	  	 	79,826   	  	  	 	1,574  	  	  	 	1.58 	  	  	 	79,826	  
	 Cerro Pelon 7
	  	 	-  	  	  	 	-  	  	  	 	-  	  	  	 	2,673  	  	  	 	1.64	  	  	 	140,525   	  	  	 	2,673  	  	  	 	1.64 	  	  	 	140,525	  
	
TOTAL
	  	 	11,973  	  	  	 	1.66  	  	  	 	640,209  	  	  	 	53,035  	  	  	 	1.03	  	  	 	1,747,793   	  	  	 	65,008  	  	  	 	1.14 	  	  	 	    2,388,002	  

  

	(1) 	 The Company’s mineral reserves as at December 31, 2011 are classified in accordance with the Canadian Institute of Mining Metallurgy and
Petroleum’s “CIM Standards on Mineral Resources and Reserves, Definition and Guidelines” as per Canadian Securities Administrator’s National Instrument 43-101 requirements. 

	(2) 	 Tonnes are rounded to the closest “000s” and grades are rounded to the closest “0.00”s. 

	(3) 	 The mineral reserve estimate for the Mulatos Mine incorporates the Estrella, Escondida, Puerto del Aire, El Salto, Mina Vieja, El Victor, and San
Carlos areas. 

	(4) 	 Mineral reserve gold cut-off grade for the Mulatos Mine is determined as a net of process value of $0.10 per tonne for each model block. The
determination was based on a $1,150 per ounce gold price, a December 2011 resource and recovery model, and the 2012 budget costs based on the actual cost figures from current mining operations. 

	(5) 	 Pit-contained mineral reserves for the Escondida high-grade zone are 434,000 tonnes grading 11.81 g/t Au for 164,792 ounces; San Carlos’
contribution to pit-contained mineral reserves is 4,708,000 tonnes grading 1.67 g/t Au for 253,420 ounces. 

	(6) 	 Mineral reserve gold cut-off grade for the La Yaqui Pit is a 0.30 g/t gold. The determination was based on a $800 per ounce gold price, a May 2009
resource model, gold recovery at the current mining operations, and the 2010 budget costs based on the actual cost figures from current mining operations. 

	(7) 	 Mineral reserve gold cut-off grade for the Cerro Pelon Pit is determined as a net of process value of $0.10 per tonne, for each model block. The
determination was based on an $800 per ounce gold price, a November 2009 resource model, gold recovery at the current mining operations, and the 2010 budget costs based on the actual cost figures from current mining operations.

 Qualified Person(s) Disclosure 
 The independent Qualified Person for the National Instrument 43-101 compliant mineral reserve estimate is Herb Welhener, Vice President of Independent Mining Consultants Inc. of Tucson, Arizona, working
in conjunction with the Company’s exploration and operations staff. Marc Jutras, P. Eng., M.A.Sc., Director of Mineral Resources for Alamos, prepared or supervised the mineral resource estimation for the Mulatos Mine. Mark Odell, Principal,
Practical Mining LLC, was responsible for the presentation of the underground minable reserves in the Escondida and Gap area. Messieurs Welhener, Jutras and Odell are recognized as Qualified Persons according to the requirements of National
Instrument 43-101.Exploration programs at Mulatos are directed by Ken Balleweg, P.Geo., B.Sc. Geological Engineering, M.Sc. Geology, Alamos’ Exploration Manager – Mexico, a Qualified Person as defined by National Instrument 43-101.

  
  

44 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Drilling, sampling, QA/QC protocols and analytical methods for individual resource areas are as outlined in the respective news
releases for these areas, and in the 2004 Mulatos Feasibility Study which are available at www.sedar.com. 
 Mining Operations

 The Company announced commercial production effective April 1, 2006. In 2011, the Company reported gold production from the Mulatos
Mine of 153,000 ounces and expects production of between 200,000 and 220,000 ounces in 2012 as a result of the inclusion of high-grade production from the Escondida zone. Based on current proven and probable reserves and current throughput rates,
the Company has an expected mine life of approximately nine years. Initial capital costs incurred to construct the project have been recovered, however, the Company is investing further in its current heap leach operations to improve recoveries and
throughput, and in a planned mill expansion in order to increase global production. Mine production for 2011 and project-to-date to December 31, 2011 is presented in the table below: 

 

											
	
Mine production
	Period	  	Ore (Tonnes)	  	Grade (g/t)	  	Ounces	  	Waste (Tonnes)	  	
Total

(Tonnes)

	 2005
– 2010
	  	23,588,000	  	1.80	  	1,364,400	  	39,766,000	  	63,354,000
	 Q1
11
	  	1,174,000	  	1.27	  	47,900	  	640,000	  	1,814,000
	 Q2
11
	  	1,320,000	  	1.26	  	53,500	  	850,000	  	2,170,000
	 Q3
11
	  	1,359,000	  	1.34	  	58,500	  	1,385,000	  	2,744,000
	 Q4
11
	  	1,475,000	  	1.32	  	62,600	  	612,000	  	2,087,000
	
2011
	  	5,328,000	  	1.30	  	222,500	  	3,487,000	  	8,815,000
	
  Project to Date
	  	28,916,000	  	1.71	  	1,581,900	  	43,253,000	  	72,169,000

 Gold production and gold sales of 153,000 ounces and 151,000 ounces respectively, decreased marginally in 2011 compared
to 2010. The table below outlines key production indicators in 2011 and 2010: 
  

				                  				                  				                  				                  				                  				                  	
	Production summary	  	Q1	 	  	Q2	 	  	Q3	 	  	Q4	 	  	2011	 	  	2010	 
	  

Ounces produced (1)
	  	 	37,500	  	  	 	36,000	  	  	 	33,000	  	  	 	46,500	  	  	 	153,000	  	  	 	156,000	  
	  

Ore crushed (tonnes)
	  	 	1,069,000	  	  	 	1,373,000	  	  	 	1,255,000	  	  	 	1,467,000	  	  	 	5,164,000	  	  	 	4,729,000	  
	  

Grade (g/t Au)
	  	 	1.26	  	  	 	1.27	  	  	 	1.35	  	  	 	1.33	  	  	 	1.31	  	  	 	1.60	  
	  

Contained ounces stacked
	  	 	43,400	  	  	 	56,100	  	  	 	54,600	  	  	 	62,900	  	  	 	217,000	  	  	 	243,100	  
	  

Ratio of ounces produced to contained ounces stacked

 
	  	  
  

 
	  

86%
  
	  
   
  
	  	  
  

 
	  

64%
  
	  
   
  
	  	  
  

 
	  

60%
  
	  
   
  
	  	  
  

 
	  

74%
  
	  
   
  
	  	  
  

 
	  

71%
  
	  
   
  
	  	  
  

 
	  

64%
  
	  
   
  

	  

Ore mined (tonnes)
	  	 	1,174,000	  	  	 	1,320,000	  	  	 	1,359,000	  	  	 	1,475,000	  	  	 	5,328,000	  	  	 	4,670,000	  
	  

Waste mined (tonnes)
	  	 	640,000	  	  	 	850,000	  	  	 	1,385,000	  	  	 	612,000	  	  	 	3,487,000	  	  	 	3,651,000	  
	  

Total mined (tonnes)
	  	 	1,814,000	  	  	 	2,170,000	  	  	 	2,744,000	  	  	 	2,087,000	  	  	 	8,815,000	  	  	 	8,321,000	  
	  

Waste-to-ore ratio
	  	 	0.55	  	  	 	0.64	  	  	 	1.02	  	  	 	0.41	  	  	 	0.65	  	  	 	0.78	  
	  

Ore crushed per day (tonnes)
	  	 	11,900	  	  	 	15,000	  	  	 	13,600	  	  	 	16,000	  	  	 	14,100	  	  	 	13,000	  

  

	(1) 	 Reported gold production for Q1-Q3 2011 has been adjusted to reflect final refinery settlement. Reported gold production for Q4 2011 is subject to
final refinery settlement and may be adjusted 

  
  

45 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 In 2011, gold production of 153,000 ounces was within the Company’s revised production guidance range of 145,000 to
160,000 ounces and was marginally below 156,000 ounces produced in 2010. The decrease in 2011 gold production from 2010 was attributable to an 11% increase in the recovery ratio and a 9% increase in crusher throughput being offset by a budgeted 18%
decrease in grade. 
 The recovery ratio in 2011 was 71%, an 11% increase over the comparable period of 2010, and consistent with the
Company’s budgeted recovery ratio for the year of 70%. The recovery ratio was lower than budgeted in the second and third quarters of the year due to low concentrations of cyanide in solution as a result of a reduction in cyanide shipments from
our primary supplier. Once normal cyanide shipments were resumed in the third quarter, deferred gold production was realized, increasing the fourth quarter recovery ratio to 74%. 
 Crusher throughput in 2011 averaged 14,100 tpd, 9% higher than 13,000 tpd in the same period of last year. Crusher throughput increased sharply in the last quarter of 2011, averaging 16,000 tpd. Higher
crusher throughput resulted from generally improved operating and maintenance practices and has been achieved without sacrificing size quality. The size of crushed ore stacked on the leach pad was 90% passing 3/8 of an inch in 2011. 

The grade of ore crushed in 2011 of 1.31 g/t Au was higher than the budgeted grade of 1.24 g/t Au, but below the grade in 2010 of 1.60 g/t Au. Applying
higher gold price assumptions to the mine model has resulted in material previously classified as waste becoming economic to mine and therefore classified as low grade ore. This has the effect of lowering the average grade mined. The reconciliation
of mined blocks to the block model for the year ended December 31, 2011 was -7%, +18% and 11% for tonnes, grade and ounces respectively. Since the start of mining activities in 2005, the project-to-date reconciliation is -2%, +10%, +8% for
tonnes, grade and ounces, respectively. Positive reconciliation variances indicate that the Company is mining more gold than what was indicated in the reserve model. 
 The following table compares costs per tonne for 2011 and 2010: 
  

													
	 Costs per tonne summary
  

 
	  	 Q1-11
  
	  	 Q2-11
  
	  	 Q3-11
  
	  	 Q4-11

 
	  	 2011
  
	  	 2010

 

	 Mining
cost per tonne of material (ore and waste)
	  	$2.00	  	$2.13	  	$1.83	  	$1.65	  	$1.90	  	$2.09
	
Waste-to-ore ratio
	  	0.55	  	0.64	  	1.02	  	0.41	  	0.65	  	0.78
	 Mining
cost per tonne of ore
	  	$3.09	  	$3.51	  	$3.70	  	$2.34	  	$3.14	  	$3.73
	
Crushing/conveying cost per tonne of ore
	  	$2.52	  	$2.43	  	$2.56	  	$2.24	  	$2.42	  	$2.11
	
Processing cost per tonne of ore
	  	$3.19	  	$2.13	  	$3.36	  	$3.44	  	$3.02	  	$2.87
	 Mine
administration cost per tonne of ore
	  	$2.24	  	$1.88	  	$1.85	  	$1.74	  	$1.91	  	$2.01
	 Total
cost per tonne of ore
	  	$11.04	  	$9.95	  	$11.47	  	$9.76	  	$10.49	  	$10.72

 Total cost per tonne of ore in 2011 of $10.49 decreased 2% compared to 2010. The lower cost per tonne of ore in 2011
compared to 2010 is primarily attributable to increases in the tonnes of ore mined and crushed which result in fixed costs such as salaries and administration being lower on a per tonne basis. In addition, higher by-product credits resulting from
the sale of silver at substantially higher prices offset increased cyanide and power costs and costs associated with the strengthening in the average value of the Mexican peso compared to the United States dollar. 

Mining cost per tonne of material was $1.90 in 2011, 9% lower than $2.09 in 2010 as a result of lower drilling costs in 2011 compared to 2010 and a 6%
increase in the number of total tonnes mined. The higher tonnes of ore mined in 2011 helped to offset increases in key input costs such as diesel and maintenance. 

  
  

46 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Crushing and conveying cost per tonne of ore of $2.42 was 15% higher in 2011 than in 2010. In 2010, the Company made a number
of improvements to the crushing circuit including closing the circuit and adding a scalping screen plant to improve crusher throughput. Higher costs in 2011 were the result of the inclusion of incremental power and maintenance costs associated with
these improvements for the full year. 
 Processing costs per tonne of ore in 2011 were $3.02 compared to $2.87 in 2010, a 5% increase. Higher
processing costs were attributable to higher cyanide costs in the latter half of 2011, given the supply shortage that was experienced. The increased cyanide costs were offset by higher by-product credits arising from the sale of silver in higher
quantities and at higher realized prices than in 2010. 
 Mine administration costs per tonne of ore in 2011 decreased 5% relative to 2010.
Increased overall spending associated with headcount additions, camp and security contractors and road maintenance have been more than offset on a per-tonne basis by the increase in tonnes mined and stacked. 

Cash operating costs of $368 per ounce of gold sold in 2011 were at the low end of the Company’s revised guidance, but were 22% higher than $302 in
2010. This increase is primarily attributable to an 18% decrease in the grade of ore mined. 
 Outlook 

The Company successfully achieved its revised production and cost guidance in 2011, with the Mulatos Mine producing 153,000 ounces at a cash operating
cost (exclusive of the 5% royalty) of $368 per ounce of gold sold. Despite a number of operational challenges, including cyanide supply and weather-related issues, gold production in 2011 exceeded 150,000 ounces for the fourth consecutive year,
while maintaining cash operating costs well below $400 per ounce. 
 In 2012, the Mulatos Mine is forecast to produce its one millionth ounce of
gold. Ongoing exploration success has resulted in a track record of mined mineral reserves being replaced. In 2012, the Company expects production to increase to between 200,000 and 220,000 ounces at a cash operating cost of $365 to $390 per ounce
of gold sold ($450 to $475 per ounce of gold sold inclusive of the 5% royalty, assuming a $1,700 gold price). The Company expects that gold produced from the gravity mill, which will process high-grade ore from Escondida, will add a minimum of
67,000 ounces of production in 2012 at a grade of 13.4 g/t Au. Based on bulk sample testing conducted in 2007, the Company believes that there is the potential for higher production from the gravity mill as a result of realizing positive grade
reconciliation to the reserve grade. 
 The high-grade gravity mill has been constructed and is currently undergoing commissioning and is
expected to be operational with high-grade production by the end of the first quarter of 2012. The current expected life of the Escondida zone is approximately three years and exploration efforts in Mexico in 2012 will continue to focus on sourcing
additional high-grade mill feed. Metallurgical testing completed in 2011 on higher grade ore from San Carlos demonstrated that it is amenable to gravity processing, potentially doubling the amount of available mill feed. Further optimization and
metallurgical studies are underway in order to increase the amount of high grade ore that can be processed through the gravity plant. 
 AĞI DAĞI & KIRAZLI PROJECTS IN TURKEY 
 On January 6, 2010, Alamos
announced the acquisition of 100% of the Aği Daği and Kirazlı Projects from Teck and Fronteer pursuant to the terms of the Fronteer Teck Agreement, and paid US$40 million cash and issued 4,000,000 common shares to Teck (as to 60%) and
Fronteer (as to 40%). The common shares were issued on a private placement basis and were subject to a four-month hold expiring May 6, 2010. In addition to statutory compensation that may apply to the projects, a third party has a 2% Net
Smelter Return Royalty on production from the Aği Daği Project. 
 The projects are legally owned and managed by Kuzey Biga Madencilik
San. Tic. A.Ş. (“Kuzey Biga”) and Doğu Biga Madencilik San. Tic. A.Ş. (“Dogu Biga”), both 100%-owned Turkish subsidiaries of the Company. The company completed a Technical Report for the projects on March 12,
2010. The report was prepared by KD Engineering from Tucson, an independant Qualified Person as defined in NI 43-1010. The report can be review on SEDAR at www.sedar.com under the Company’s profile. 

  
  

47 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Project Description and Location 
 Location 
 The Turkish projects include the Aği Daği and Kirazlı
advanced-stage development projects in Turkey and the early stage Çamyurt Project, located approximately 3 kilometers from Aği Daği. Kirazlı is situated 25 km to the northwest of Aği Daği, with both projects located
in the Çanakkale Province in the Biga Peninsula of northwestern Turkey, some 250 km by air southwest of Istanbul or 800 km west of Ankara, Turkey’s capital. The Company maintains an administrative office in Ankara, Turkey, and
exploration offices in Etili and Sogutalan, both small towns located in the Biga District of Turkey. These offices support all activities for the Aği Daği and Kirazlı Projects. 
 Ownership 
 Mineral rights for all concessions comprising the Turkish assets are
controlled by Kuzey Biga and Doğu Biga, Turkish subsidiares of the Company. As all projects are located in a forestry reserve, surface rights are controlled by the State government of Çanakkale. 

Mining Concessions 
 The Aği
Daği property currently consists of a total of 10,514 hectares of mineral tenure in fifteen (15) contiguous operation and exploration licenses covering a prominent ridge with 900 m of relief and includes the Çamyurt Project.
Subsequent to December 31, 2011, the Company acquired an additional 5,171 hectares in three (3) concessions at Aği Daği through auction. 
 The Kirazlı property consists of 1,541 hectares of mineral tenure in two (2) contiguous licenses covering a prominent northwest trending ridge with 500 m of relief. One concession is classified
as an operating license, and the other is an exploration license. 
 Permits 

The Company is permitted to explore and operate the properties and has obtained the required surface rights to carry on its activities. From time to time,
the Company acquires additional temporary surface rights and work permits (forestry permits and others) to continue its work over the targets. 

Status of Forestry Permits required for Drilling Activities 
 In order to conduct drilling or somewhat disruptive exploration activities on concessions within State Forest land in Turkey, valid permits are required from the General Directorate of Forestry of the
Ministry of Environment and Forestry. In January, 2009 certain provisions concerning the existing Mining Law were challenged and subsequently annulled. As a result of the annulment, the grant of permits for the use of forestry lands for mining
activities was suspended. An amending regulation became effective upon its publication in the Official Gazette No. 27324 on August 19, 2009 (the “Amending Regulation”), and the Ministry of Environment provided that until a new
arrangement is made, the allocation of forestry lands to mining activities will be made pursuant to the provisions of the forestry legislation. Accordingly, issuance of forestry permits was re-established during the suspension of implementation of
the Mining Activities Permitting Regulation. Following this, on or about January 11, 2010, the Amending Regulation was challenged, and the High Administrative Court suspended the implementation of the Amending Regulation until a final decision
is rendered regarding the merit of the lawsuit. The Amendments to the Mining Law were finally approved by the Turkish Grand National Assembly on 10 June 2010 and published in the Official Gazette No. 27621 dated 24 June 2010.

  
  

48 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 The new Forest Permitting Regulation regulating the use of forestry lands for mining activities basically became effective as
of the date of the new mining law ratification, and thus, the forestry permits can be, and were, issued for exploration activities as per the relevant provisions of the Forest Permitting Regulation. 

As existing permits were unaffected by the suspension of the Amending Regulation, the Company was not restricted from drilling under its existing
forestry permits during 2010 and 2011, including using permitted drill roads and drill pads. New forestry permits were applied for and issued during 2010 and 2011 and drilling was unaffected from the date of the new mining law ratification. From
time to time, and depending on its activities, the Company will need to apply for new forestry permits. No new forestry permits have been denied to date. It remains uncertain if the Company’s existing permits may be affected in the future or if
the Company will have difficulties in obtaining all necessary forest permitting it requires for its proposed mining activities. 
 New Mining
Law 
 In addition to changes in the forest permitting regulations, a new Mining Law was enacted in Turkey in 2010 which imposed new
deadlines on concession holders. Specifically as a result of the changes in the Mining Law, the Company is required to obtain final EIA approval and key permits on its Turkey concessions between October and December 2012 in order to maintain its
concessions it good standing. The specific deadlines for obtaining EIA approval and key permits for each project concession in Turkey vary slightly in time. The Company has implemented plans to obtain all necessary permits prior to these deadlines
and views the risk of not meeting the deadlines as low. If these deadlines are not met due to unforeseen delays, the Company believes that extensions to deadlines for obtaining the required approvals and permits could be negotiated so that the
concessions will remain in good standing. However, there is no guarantee that the Company will be able to obtain the approvals and permits as planned or if unable to meet such deadlines that negotiations for an extension will be successful in order
to maintain its concessions in good standing. If the concessions were to expire, this could have a material adverse impact on the Company’s ability to control and continue to develop its Turkish projects. 

Royalties 
 A 2% Net Smelter
Return Royalty in favour of Franco Nevada Corporation is registered against the Aği Daği property (which includes a portion of the Çamyurt Project). 
 Environmental Liabilities 
 The Company abides by all Turkish environmental
regulations and laws, and follows all recognized environmental preventive procedures associated with normal operation of exploration projects, and operates within environmental standards typical of Canadian mining companies. The Company is not aware
of any environmental liabilities currently outstanding related to the properties. 
 Social Issues 

The Company has a comprehensive community relations plan in place and is routinely communicating with all local communities, local government
representatives, and State government agencies. Discussions at the Federal level are also normal practice as the projects advance toward production. The Company provides local employment to a number of Turkish Nationals as well as support with
respect to local economic community development through maximization of direct investment, mainly via purchasing of goods and hiring of local contractors. 
 Access, Climate, Communication, Power 
 The Kirazlı Project is accessible by a 3 km
dirt road from the village of Kirazlı which is in turn located 40 km south of the regional capital of Çanakkale. The Aği Daği Project is accessible by forestry roads from the village of Sogutalan from the north, Karakoy from
the west, and Kizilelma from the south. Aği Daği is approximately 65 km from the regional capital of Çanakkale, and 25 km to the southeast of the Kirazlı. Kirazlı is located approximately 1.5 km south of the Kirazlı
Village, Çanakkale Province, northwestern Turkey. Access from Çanakkale, the nearest large population centre (population 78,000) and provincial capital, to the Kirazlı Village is via 40 km of a paved two lane road. Access from the
Kirazlı Village to the project area is along a 3 km well maintained dirt road which provides access to some of the smaller villages. 

  
  

49 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Kirazlı forms one of the most prominent hills in the region with a maximum elevation of 811 m. Relief in the area is
approximately 250 m with slopes generally not exceeding 25-30 percent. Vegetation consists of mostly scrub oak and various shrubs up to 3 m in height with isolated stands of 20 to 30 year old pines also present. Large areas along the western side of
the property have been stripped of the vegetation and replanted with pine seedlings. Kirazlı is generally windy, particularly from fall through spring. Aği Daği is a prominent topographic high trending in a northeast direction for a
distance of 5 km. The elevation of the ridge line varies from greater than 900 m at the southwest end to about 700 m at the northeast end. The property can be reached by village and forestry roads from the town of Çan. 

The region is well-serviced with electricity, transmission lines and generating facilities, the most significant being a large coal-fired power plant
outside the Town of Çan. Population and agricultural activity is concentrated in the valleys, while most areas of active exploration are located in highlands which are predominantly forested and owned by the state. This region has fertile
soils and a Mediterranean climate with mild, wet winters and hot, dry summers. Temperatures range from 15 to 35 degrees Celsius in the summer season and 5 to minus 10 degrees Celsius in the winter months. The annual rainfall is approximately 30 cm,
generally falling as mixed rain and snow in late fall and winter. 
 History 
 A complete detailed outline of historical project activities is provided in the Scoping Study, filed on SEDAR on March 29, 2010 and available at www.sedar.com under the Company’s profile.
This section is intended to provide a brief history of project activities since the Company acquired the projects in early 2010. 
 Following
acquisition on January 6, 2010, the Company initiated comprehensive exploration and engineering programs on the projects with the objective of completing a preliminary feasibility study in 2012. Total exploration expenditures at Aği
Daği and Kirazlı in 2010 and 2011 amounted to $14.5 million. A total of 51,200 m of drilling in 303 holes was completed in 2010 and 2011, in addition to metallurgical and geotechnical engineering studies that were conducted in the same
period. Further details on drilling and engineering activities in 2010 and 2011 are provided below. 
 Geological Setting 

The Aği Daği and Kirazlı deposits are epithermal, high-sulfidation, disseminated gold systems, hosted within Miocene undifferentiated
heterogeneous volcanic assemblage of dacitic to andesitic composition. They are associated with a large hydrothermal alteration zone that covers more than 10 square km. Gold mineralization is closely associated with silicic and advanced argillic
alteration occurring near the upper contact of the volcanic sequence. 
 Both the regional and local geology for Aği Daği and
Kirazlı are detailed in the Scoping Study, available at www.sedar.com under the Company’s profile. 
 Mineralization

 Deposit Types 
 The
principal model for gold mineralization at the Ağı Dağı and Kirazlı projects is a high-sulphidation, epithermal gold deposit. Premier examples of this kind of deposit in the world are Yanacocha, Pierina and Alto Chicama in
Peru. The Kisladag gold deposit (5 million ounces) located in Turkey and owned by Eldorado Gold Corporation is a more conservative example of the high sulphidation gold deposit and may also serve as a comparable economic model. The open pit, heap
leach gold mine began commercial production in July 2006 and in 2012 was projected to produce between 285,000 to 295,000 ounces of gold at a total cash cost of US$385-US$395 per ounce. 

  
  

50 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Gold Mineralization 
 Gold mineralization at Ağı Dağı is associated with felsic volcanic rocks of Miocene age and a northeast-trending silica cap rock about four km by two km in extent which forms a
topographic high 700 to 900 m in relief. The gold mineralization is disseminated and associated with intensely silicified, vuggy, oxidized and brecciated rocks hosted in volcanic felsic to intermediate tuffs and occasionally phreatic breccia bodies.
Hydrothermal-type breccias (crackle, jigsaw, hydrothermal) are most common in this siliceous alteration. Pyrite is by far the most abundant primary sulfide mineral associated with gold. Trace to minor amounts of enargite, covellite, galena and
molybdenum are present locally. Additional information can be reviewed by consulting the 2010 Scoping Study. 
 Historical Exploration

 The Company did not conduct any of the historical exploration work on the projects prior to January 6, 2010. For a detailed account
of historical exploration activity, refer to the Scoping Study filed on www.sedar.com on March 29, 2010. During the involvement of a Teck Resource subsidiary (“TCAM”), and Fronteer on the property, a total of 365 drill holes
totaling 56,507 m were drilled at Ağı Dağı along with a number of ground -based geological, geochemical and geophysical surveys. The following table summarizes that drilling: 

 

			                          		                          			                          				                          	
	Ağı Dağı Gold Property,
Summary of Drilling	 
	 	 	 	 	 
	Period	  	Start Hole      	  	End Hole      	  	# Holes  	 	  	Meterage	 
	  

Pre-2004
	  	A-1      	  	A-74      	  	 	74  	  	  	 	8,276.90	  
	  

2004-2005
	  	AD-75      	  	A-169      	  	 	99  	  	  	 	16,777.55	  
	  

Mar 2006-April 6 2007
	  	AD-170      	  	A-299      	  	 	140  	  	  	 	23,999.25	  
	  

April 6 2007-May 2007
	  	AD-300      	  	AD-309      	  	 	9  	  	  	 	1,463.70	  
	  

May 2007-Aug 2007
	  	AD-307      	  	AD-350      	  	 	43  	  	  	 	5,989.20	  
	  

Total
	  	 	  	 	  	 	365  	  	  	 	56,506.60	  

 At the Kirazlı gold project, during the involvement of TCAM and Fronteer, 200 drill holes totaling 30,873 m were
drilled along with a number of ground-based geological, geochemical and geophysical surveys. Drilling activities at Kirazlı are summarized in the table below: 
  

			                              		                              			                              				                              	
	 
	Kirazlı Gold Property, Summary of Drilling	 
	 	 	 	 	 
	Period	  	Start Hole    	  	End Hole     	  	# Holes  	 	  	Meterage	 
	  

Pre-2004
	  	KRC-01    	  	KRR-24     	  	 	70  	  	  	 	7,324.90	  
	  

2004
	  	KD-01    	  	KD-03     	  	 	4  	  	  	 	891.90	  
	  

2005
	  	KD-04    	  	KD-47     	  	 	44  	  	  	 	7,377.60	  
	  

Mar 2006-Mar 2007
	  	KD-48    	  	KD-96     	  	 	56  	  	  	 	10,635.55	  
	  

Apr 2007-June 2007
	  	KD-97    	  	KD-119     	  	 	26  	  	  	 	4,643.00	  
	  

Total
	  	 	  	 	  	 	200  	  	  	 	30,872.95	  

 Due diligence activities completed in 2009 indicated that exploration data collected throughout the years at Aği
Daği and Kirazlı by previous operators was of good quality. Review and verification of existing reports and databases indicate that sufficient and adequate QA/QC procedures were followed; from the data collection through to the data
interpretation stages. In addition, a review of available data indicates excellent exploration potential that requires a substantial amount of additional drilling in the areas of interest in order that the projects are fully evaluated. 

  
  

51 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Scoping Study Summary 
 The mine plan presented in the Scoping Study provides for over eight years of production from the Kirazlı, Baba, and Delı pits with a life-of-mine (“LOM”) waste-to-ore ratio of 1.24:1
(hereinafter, the Baba and Delı pits are collectively referred to as the “Ağı Daği pits”). Mineral resources considered in the mine plan are oxide only, contained within open pits designed from floating cone geometries
that are based on a 40 degree overall slope angle, $725 per ounce of gold, and $12.50 per ounce of silver. Exploration results from work completed subsequent to the Scoping Study substantially increased the estimated mineral resources that could be
processed, resulting in corresponding increases to planned throughput rates. The preliminary feasibility study is expected to be released in the second quarter of 2012 and will outline the revised mining scenario. The pit-contained mineral resources
as outlined in the Scoping Study are summarized in the table below: 
  

											
	
Scoping Study
 Mineral Resource Estimate – March 2010

	  	  	
Tonnes
  

(000s)
	  	
Gold  

Grade  
(g/t Au)  
	  	
Gold  

Contained  
(Ounces Au)  
	  	
Silver Grade  
  

(g/t Ag)  
	  	Silver
Contained
(Ounces 
Ag)
	  
 Indicated Oxide Resources
	  	33,682	  	0.84  	  	910,000  	  	7.24  	  	7,839,000
	  

Inferred Oxide Resources
	  	13,981	  	0.99  	  	444,000  	  	12.52  	  	5,628,000

 The Scoping Study assumed that Kirazlı and Ağı Daği would each have stand-alone crushing,
agglomeration, heap leach, and process plant facilities, plus separate owner-operated mining fleets. Upfront capital costs were estimated to be $207.5 million. In addition, an initial investment in working capital of $9.9 million was estimated.
Mining equipment costs included a 10% contingency, heap leach facility capital costs included a 30% contingency, and all other capital expenditures include a 35% contingency. The total contingency was $63.4 million, or 27% of the total project
initial and sustaining capital. Total initial and sustaining capital costs are estimated to be $234.7 million. 
 The combined LOM production
was expected to be approximately 1.139 million ounces of gold and 5.067 million ounces of silver. Average annual production over the first eight years of production was approximately 135,000 ounces of gold and 621,600 ounces of silver,
which included average annual production of approximately 143,600 ounces of gold and 630,800 ounces of silver during years two through seven. 

The Company intends to produce dore bars on-site and consequently expects that it will be exempt from Turkey’s Value Added Tax (“VAT”). In
addition to statutory compensation that may apply to the projects, there is a 2% net smelter return (“NSR”) royalty payable to a third party (Franco Nevada Corporation) on production from Ağı Daği. There is no NSR royalty
payable on production from Kirazlı. 
 Applying a gold price assumption of $800 per ounce of gold and $13.50 per ounce of silver as
presented in the Scoping Study (the “base case scenario”), the Company estimated that the LOM cash operating cost per tonne of ore is $8.43, or $353 per ounce of gold before silver by-product credits and refining and transportation costs.
The LOM total cash cost, which includes the NSR royalty and refining and transportation costs and treats silver as a by-product credit, was approximately $314 per ounce of gold. 
 As part of the Scoping Study, an unlevered pre-tax economic analysis of the base case scenario was completed. The analysis yielded a pre-tax internal rate of return (“IRR”) of 21%. Based upon
the pre-tax cash flow model presented in the Scoping Study, the Company prepared an after-tax cash flow model. For the purposes of the after-tax model, the Company used an expected corporate tax rate of 20%, estimated depreciation for tax purposes
on a unit of gold-equivalent production basis, and did not consider any tax-loss carry-forward credits that may be available. Under the base case scenario, the Company estimated that the projects have a combined after-tax IRR of 18%. 

Preliminary Feasibility Study 
 The
Company initially planned to publish a preliminary feasibility study in the fourth quarter of 2011 based on the Scoping Study. However, exploration success at Ağı Dağı and Kirazlı in 2010 and 2011 resulted in estimated
mineral resources more than doubling from those contemplated in the Scoping Study. In addition, the Company discovered the Çamyurt Project and believes that it has the potential to be a stand-alone mining project. 

  
  

52 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Due to the significant increase in measured and indicated resources, the Company resized the scale and scope of the projects,
requiring additional geotechnical drilling and engineering which extended the completion deadline of the preliminary feasibility study to the second quarter of 2012. The Company expects that increased throughput and processing rates could result in
substantially higher annual production rates than initially reported in the Scoping Study of 135,000 ounces per annum. 
 In addition to
completing the preliminary feasibility study, the Company is in the process of completing final EIA reports for each of the Ağı Dağı, Kirazlı and Çamyurt Projects. The Company currently intends to submit the final EIA
report for Ağı Dağı and Çamyurt late in the second quarter of 2012, with the Kirazlı EIA submitted thereafter. A response from the Turkish government is expected in the third quarter of 2012. Permitting and
construction activities are expected to take up to eighteen months once the final EIA report is approved. 
 Exploration Work Summary –
2011 and 2010 
 During 2010, the Company completed 22,611 metres of drilling in 148 drill holes, completed geological re-modelling and
initiated preliminary feasibility stage engineering studies. Subsequent to year end, the Company provided an updated resource estimate for these projects. In 2011, the Company completed 28,600 m of drilling in 155 holes focused on infill and
extension drilling of known zones of mineralization. An updated mineral resource estimate was released in September 2011 based on drilling completed to the end of March 2011. An additional resource estimate was reported in March 2012 based on
drilling completed to September 2011. 
 The principal objectives of 2010 and 2011 exploration programs in Turkey was to further assess the
geological controls of gold mineralization while confirming the mineral resources that were previously disclosed, in addition to improving core recovery compared to historic drilling. The results of the exploration program in Turkey have been
successful with respect to substantially improving drill recoveries, in addition to corroborating and/or improving historical drill results. 

Drilling statistics for 2011 and project-to-date are presented below: 
  

									
	
2011 Core Drilling
	 	 	 	 	 
	
Zone Drilled
  
	  	
Drill Holes  
Completed  
(Year)  

 
	  	
Drill Holes  
Completed  
(Project)  

 
	  	
Drilling  
Year (m)  
  
	  	
Drilling
Project (m)

 

	 Babadag
	  	22  	  	112  	  	4,585      	  	20,841     
	 Delidag
	  	5  	  	142  	  	904      	  	25,075     
	 Aği Daği infrastructure
	  	14  	  	  26  	  	217      	  	452     
	 Ayi Tepe
	  	11  	  	  32  	  	3,147      	  	8,523     
	 Fire Tower
	  	25  	  	  55  	  	6,355      	  	13,742     
	 Çamyurt
	  	47  	  	  59  	  	9,597      	  	11,333     
	 Ilhamur
	  	9  	  	  21  	  	1,602      	  	3,510     
	 Tavsan Tepe
	  	2  	  	  6  	  	297      	  	701     
	  

TOTAL Aği Daği

 
	  	 135  

 
	  	   453  

 
	  	
26,704      
  
	  	
84,177     
  

	 Kirazlı
	  	20  	  	  199  	  	1,920      	  	33,216     
	 TOTAL
	  	155  	  	  465  	  	28,624      	  	117,393     

  
  

53 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
  

									
	2011 Reverse Circulation
Drilling
	 	 	 	 	 
	
Zone Drilled
  
	  	
Drill Holes  
Completed  
(Year)  

 
	  	
Drill Holes  
Completed  
(Project)  

 
	  	
Drilling   
Year (m)   

 
	  	
 Drilling  
 Project (m)  

 

	
Babadag
	  	-  	  	69  	  	-      	  	8,361      
	
Delidag
	  	-  	  	62  	  	-      	  	5,339      
	 Ayi
Tepe
	  	-  	  	5  	  	-      	  	515      
	 Fire
Tower
	  	-  	  	21  	  	-      	  	2,521      
	
Çamyurt
	  	-  	  	-  	  	-      	  	,-      
	
Ilhamur
	  	-  	  	3  	  	-      	  	422      
	 Tavsan
Tepe
	  	-  	  	9  	  	-      	  	554      
	 TOTAL
Aği Daği
	  	-  	  	169  	  	-      	  	17,711      
	
Kirazlı
	  	-  	  	24  	  	-      	  	3,275      
	 TOTAL
	  	-  	  	193  	  	-      	  	20,985      

 Ağı Dağı Results (Baba and Delı Zones) 

Metallurgical, geotechnical, and infill core holes completed at the Baba and Deli zones have generally confirmed both expected grades and thicknesses.
Additionally, a number of the new holes exceeded expectations relative to the March 2010 block model. Of particular interest is infill hole 10-AD-387, drilled at the northern limit of the main proposed pit at the Baba target in an area previously
recognized as “barren”. This drill hole appears to link mineralization between two of the Baba preliminary pits. 
 Twin holes drilled
to-date have indicated an increase in grade correlating with an increase in core recovery. For example, 10-AD-366, a core hole with much better recoveries than its historic twin AD-152, shows a significant increase in gold content. The composite in
10-AD-366, with 83% core recovery, is 5.0 g/t Au over 14.8 m, while the equivalent composite in the previous operator’s hole with core recovery of 33% returned 0.3 g/t Au over 15.8 m. 
 In 2011, the Company began drilling at Ağı Dağı in March. A total of 17,106 m of drilling was completed in 88 core holes. The results at Ağı Dağı have continued to
improve relative to historical drilling results. 
 Çamyurt Results 

The early stage development Çamyurt Project is located three kilometres southwest of the Baba deposit (within the Ağı Dağı
Project) and is a separate zone of economic interest. Preliminary exploratory drilling was completed in the fourth quarter of 2010. 
 In late
2007, previous operators drilled five wide-spaced core holes at Çamyurt over a strike distance of approximately 700 m. Although all holes had poor core recovery, it was apparent that a new discovery had been made. At the time, the
Çamyurt zone remained open to the southwest, with at least 800 m of untested strike length in favourable rock types coincident with gold mineralization in soil and rock chip samples at surface. 

In 2010, the Company completed 6 core holes on the property. Holes 10-CYD-09 and 10-CYD-11 were twins of historic holes CYD-01 and CYD-05, respectively.
CYD-01 returned 0.65 g/t Au over 73.3 m with an average core recovery of 43%; core recovery for 10-CYD-09 was 82% with a composite of 1.33 g/t Au over 58.9 m, demonstrating the positive effect of improved drilling techniques and better core
recovery. New hole 10-CYD-11 with a composite grading 0.75 g/t Au over 158.3 m and a core recovery of 87% was substantially improved from historic hole CYD-05 which returned two shorter and lower grade composites, 0.43 g/t Au over 4.7 m and 0.23 g/t
Au over 11.3 m, recovered at 56% and 68%, respectively. 

  
  

54 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Holes 10-CYD-06 and 10-CYD-07 were testing possible extensions of the historic gold-bearing zone to the south, 500 m and 50 m
respectively from historic holes. Both holes intersected short intervals of gold bearing alteration but interpretation suggests that the holes may have been too far away from the zone and may have undershot it. Holes 10-CYD-08 and 10-CYD-10 were
drilled in-between or adjacent to historic holes and basically confirmed the continuity of the zones between the historic holes with similar thicknesses and grade reported. 
 The 2011 drill program was primarily intended to drill-test continuity and strike extensions of known areas of gold mineralization, aimed at bringing the zone to preliminary resource evaluation. In 2011,
the Company drilled 9,600 m in 47 holes. Notable assay results from the 2011 drill program included: 
  

	•	 	 0.91 g/t Au over 131.1 metres (11-CYD-12A) 

  

	•	 	 1.60 g/t Au over 185.7 metres (11-CYD-14) 

  

	•	 	 1.38 g/t Au over 176.5 metres (11-CYD-17) 

  

	•	 	 1.30 g/t Au over 41.6 metres (11-CYD-043) 

  

	•	 	 1.34 g/t Au over 120.8 metres (11-CYD-044) 

  

	•	 	 1.39 g/t Au over 41.2 metres (11-CYD-046) 

  

	•	 	 1.53 g/t Au over 53.7 metres (11-CYD-047) 

 Drilling at Çamyurt has delineated a mineralized zone that is continuous for at least 1,100 m along strike with additional potential to extend mineralization to the northeast. The steeply dipping
oxidized body starts at surface, has been vertically drilled up to 150 metres, remains open at depth, and can reach up to 150 metres in thickness. An initial mineral resource estimate for the Çamyurt Project will be reported in the second
quarter of 2012. Preliminary column test metallurgical samples have been submitted for Çamyurt and are in process. 
 Kirazlı
Results 
 Drilling at the Kirazlı Project commenced in late August 2010. The program initially focused on metallurgical and
geotechnical data acquisition and then moved to infill drilling with two core rigs still active on the project in early 2011. 
 Some of the
notable assay results obtained in 2010 are presented below: 
  

					
	10-KD-120	  	101.9 m at 1.81 g/t Au	  	
	10-KD-121	  	26.8 m at 3.99 g/t Au	  	
	10-KD-121A	  	32.7 m at 2.37 g/t Au	  	
	10-KD-122	  	110.0 m at 1.55 g/t Au	  	
	10-KD-123	  	17.8 m at 1.30 g/t Au	  	
	10-KD-126	  	82.8 m at 1.36 g/t Au	  	
	10-KD-132	  	46.2 m at 1.74 g/t Au	  	
	10-KD-133	  	135.9 m at 0.67 g/t Au	  	
	10-KD-135	  	144.4 m at 0.88 g/t Au	  	
	10-KD-136	  	44.2 m at 1.32 g/t Au	  	
	10-KD-139	  	92.5 m at 2.74 g/t Au	  	
	10-KD-140	  	33.0 m at 1.31 g/t Au	  	
	10-KD-141	  	138.3 m at 1.20 g/t Au	  	
	10-KD-143	  	50.3 m at 4.42 g/t Au	  	
	10-KD-144	  	73.5 m at 0.80 g/t Au	  	

 Holes 10-KD-120, 10-KD-121 and 10-KD-126 were holes drilled to obtain metallurgical samples. Hole 10-KD-120 was a twin
hole of historic KD-63 which returned 82.2 m grading 1.19 g/t Au, comparing well to its historic counterpart. As was the case at Ağı Dağı, better core recovery appeared to have a positive effect on grade (85% core recovery in
10-KD-120 versus 68% in the historic hole). Holes 10-KD-122 and 10-KD-133 were geotechnical holes drilled on the edge of the initially proposed pits which indicated the potential to increase the size of the pits in that area. 

  
  

55 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 An additional 1,920 meteres in 20 holes were completed in the first quarter of 2011, with no further exploration conducted at
Kirazlı for the remainder of the year, as the geologic model was being reviewed and updated during this period, based on a review of previously drilled core and other new data. Drilling at Kirazlı resumed in the first quarter of 2012.

 Engineering and Development Work 
 Engineering and development activities since acquisition in early 2010 have focused on assembling the team of consultants required to assist in the studies and testing required to support both the Scoping
Study and preliminary feasibility study. 
 Early in 2010, the Company established its administration office in Ankara, the capital of Turkey,
and developed a team of community relations, permitting, development and administration personnel. A number of studies were initiated and/or undertaken in 2010 to support technical reports and the preliminary feasibility study. These projects are
listed below: 
  

	 	•	 	 Metallurgical testing 

  

	 	•	 	 Geo-technical analysis and seismic studies 

  

	 	•	 	 Leach pad and waste dump design 

  

	 	•	 	 Pit slope stability analysis and design 

  

	 	•	 	 Mine planning and design 

  

	 	•	 	 Environmental impact assessment studies and testing 

 Further, in 2010 the Company’s engineering and development team implemented a planned organization structure, established a government liason and stakeholder engagement plan, joined the Turkish Gold
Mining Association and developed a new office complex in Etili. 
 In 2011, due to the significant increase in measured and indicated resources,
the Company resized the scale and scope of the projects, requiring additional geotechnical drilling and engineering which extended the completion deadline of the preliminary feasibility study to the second quarter of 2012. The Company expects that
increased throughput and processing rates could result in higher annual production rates than initially reported in the Scoping Study of 135,000 ounces per annum. 
 In addition to completing the preliminary feasibility study, the Company is in the process of completing final EIA reports for each of the Ağı Dağı, Kirazlı and Çamyurt
Projects. The Company currently intends to submit the final EIA report for Ağı Dağı and Çamyurt late in the second quarter of 2012, with the Kirazlı EIA submitted thereafter. A response from the Turkish government is
expected in the third quarter of 2012. Permitting and construction activities are expected to take up to eighteen months once the final EIA reports are approved. 
 Logging, Sampling Methodology, Sample Preparation, Analysis, Sample Custody 
 Historical
methodologies are described in the Scoping Study available at www.sedar.com under the Company’s name. 
 Exploration in 2011 was
completed with the drill contractor, Spectra Jeotek Drilling, for the Ağı Dağı, Kirazlı and Çamyurt Projects. All drilling was supervised by the Company’s technical staff and general industry standards were
followed. All proposed drill collars were surveyed using proper surveying techniques with established control survey points across the property. Drills were set up under the direct supervision of Company staff. Drill holes were collared in PQ
diameter core. The holes were reduced to HQ diameter when problems were encountered due to bad ground conditions. Core was placed in plastic boxes with depth markers every drill run (up to 3 m). Core recovery during these programs was generally
adequate. Down-hole survey tests were taken generally at 50-75 m intervals down-hole to provide down hole survey control. The casing was attempted to be removed after drilling was completed, with minor casing left stuck in the ground. Holes with
poor core recovery throughout the ore intersection were either re-collared and drilled again with core or re-drilled with a reverse circulation drill, where the actual weight of each 1.5 m sample occasionally recorded to check for consistent
recovery. 

  
  

56 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Logging, sampling, and analysis procedures were established by Company staff with improvements and adjustments necessary to
comply with current Quality Assurance/Quality Control (“QA/QC”) procedures and NI-43-101 requirements done from time to time. Logging and sampling methodologies and procedures are documented routinely, updated, and maintained by the
Company’s exploration department. 
 Geologists log drill core holes on site at the Company’s exploration camp in Etili. Core is
logged on a hole by hole basis with data entered on paper then transfer to digital files for future analysis and processing. RC holes are logged from chip trays containing representative samples collected from each 1.5-metre sample interval. After
completion of geological and geotechnical logging and collection of additional information such as specific gravity, geologists define and label the intervals to be sampled, ranging from 0.25 to 1.5 m, depending on geological characteristics.

 Selected drill core for assaying is cut and sampled at site while RC samples are collected directly at the drill site. For RC drill holes, a
sub-set of the sample cuttings is bagged, inventoried, prepared and sent for analysis. For core drill holes, half-core samples are prepared using a diamond core saw, with 1.0-metre intervals as standard sample lengths in rock types presenting
similar geological characteristics, bagged, tagged, sealed and shipped in batches to the assaying laboratory. When applicable, core from metallurgical and geotechnical drill holes are cut in half with one half of the core sent for analysis, while
the reject is used for metallurgical testing. Metallurgical and geotechnical drill holes are logged at site in a similar manner to other core drill holes. Geologic logging and sample interval definition are completed by geologists; geotechnical
logging including Rock Quality Designation (“RQD”), core recovery and specific gravity measurements are usually done by geological technicians and/or engineers. All samples collected by the Company during drill programs were subjected to
quality control procedures that ensure best practice in the handling, sampling, analysis and storage of the drill core. 
 Laboratory sample
preparation and analysis are in accordance with strict and industry recognized protocols and procedures. For RC samples, an approximate 10 kg sub-sample is sent to the lab. After drying, a 250-300 gram sub-set is crushed, riffle spilt, and
pulverized. A one assay-ton (30 grams) sample is then collected for precious metal analysis (Au & silver – “Ag”) by fire assay with atomic absorption finish (“FA-AA”). For sample assaying above 5 g/t Au under FA-AA,
a fire assay with gravimetric finish (“FA-GR”) is also performed. A smaller pulverized sub-sample (3-5 grams) is also taken for multi-elements ICP analysis. In 2010, all samples were also assayed by the hot-cyanide method (Au and Cu) to
help assess the Au recovery potential; the results of these tests are also used for the recovery model. For core samples, the entire half of the core sample received at the lab is crushed; a 250-300 gram spilt is collected, pulverized and assayed
using the methodology described above. Samples are sent to the Acme Lab. in Ankara, Turkey for sample preparation and then sent to Acme Lab. Vancouver, Canada or Santiago, Chili laboratory for analysis. Other labs are used for check assay work.

 QA/QC procedures are performed systematically. Blind, standard and blank samples are systematically inserted on a regular sample batch
interval, generally every 25-30 samples, and are routinely evaluated when results are received. Duplicate samples are selected at regular intervals, with the duplicate retrieved by the assaying laboratory personnel after the sample has been crushed,
basically representing a separate split. Check assays of pulverized pulps are performed by a second lab and generally represent 5-10% of the entire sample database. Comparisons and reconciliation between original and check assays are done routinely
during drilling, and systematically before any resource estimation exercise. 
 Sample custody is ensured on-site by continuous inventorying and
monitoring of the RC cuttings and drill core. Once samples are prepared, using the methodologies described above, they are inventoried, individually bagged, tagged and sealed in larger bags for transport to the assay lab. The laboratories used for
analysis are certified and follow strict, industry recognized, QA/QC protocols. Audits of the assaying labs are performed occasionally. 
 For
disclosure purposes, a 0.2 g/t Au cut-off grade is used for calculation of composite intervals, with only a single 1.5-metre interval of sub-0.2 g/t Au material allowed within a composite interval; assay results are generally presented uncut.

  
  

57 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Modelling and Estimation 
 Exploration programs at Ağı Dağı and Kirazlı are directed by Charles Tarnocai, PhD. in Geology, Alamos’ Vice President of Exploration and Corporate Development, a Qualified
Person as defined by National Instrument 43-101. Resource estimates were completed by an independent Qualified Person as defined in NI 43-101. Starting in 2009, resource estimation was managed under the supervision of the Company’s Director of
Mineral Resources, Marc Jutras, who is also a QP. 
 The following procedures are generally followed for modelling and estimation. Block gold
grade estimation is constrained by geology envelopes that are constructed using alteration distribution, known geologic controls, and anomalous gold mineralization. Gold grades are estimated using both OK and inverse distance cubed interpolation
with searches oriented along known mineral controls. Gold resource classification is based on proximity to drill hole data, the number of composites used in the estimate, and geostatistical variography. Measured resources are generally defined (note
that this criteria may vary depending on varioraphy) as blocks within 10 m of drill hole data and blocks within 15 m of drill data and informed by at least 18 composites (6 holes). Indicated resources are generally defined (note that this criteria
may vary depending on varioraphy) as blocks between 15 to 35 m from drill hole data and those blocks at less than 15 m from data with less than 18 composites used in the estimate. Indicated resources also generally required that at least two drill
holes were used in the estimate at the outer boundary (35 m). Inferred resources are defined (note that this criteria may vary depending on varioraphy) as those blocks greater than 35 m from drill hole data, and up 75 metres. 

Geologic solids are constructed from observed data collected during the core and chip logging processes, and from data acquired through the use of an
infrared reflectance spectrometer. Geologic solids comprise rock types, oxidation, silica alteration, and intensity of argillic alteration. Mineralized shapes within which gold estimation was performed were constructed from the occurrence of silica
alteration, and argillic alteration intensity, and silica alteration, and alteration from infrared spectrometry. In addition, the occurrences of logged breccia units were sometimes used to construct the mineralization envelope. Hard boundaries to
gold estimation were also assigned to air, post mineral rocks and alluvial/colluvial material, and in some cases, faults. 
 Mineral Resource

 Scoping Study Mineral Resource 
 As part of the Scoping Study, the Company prepared a mineral resource estimate for the Baba, Delı, and Kirazlı deposits based on previous drilling completed by Fronteer and Teck. This estimate
was based on a total of 544 drill holes (85,732 metres) over the three deposits. The total tabulation of the indicated mineral resources for the three areas at a 0.2 g/t Au cut-off is 63.8 million tonnes at an average grade of 0.64 g/t Au and
5.20 g/t Ag, for a total of 1.3 million ounces of gold and 10.7 million ounces of silver. The total tabulation of the inferred mineral resources for the three areas at a 0.2 g/t Au cut-off is 26.4 million tonnes at an average grade of
0.74 g/t and 8.72 g/t Ag, for a total of 0.6 million ounces of gold and 7.4 million ounces of silver. It is anticipated that the economic cut-off grade will be approximately 0.2 g/t gold for oxide and 1.0 g/t gold for sulfide. 

The detailed resource estimation procedures and methodologies are presented within the text of the Scoping Study, and the reader is refered to that
document for additional information. 
 2011 Mineral Resource 
 On March 27, 2012, the Company reported updated measured and indicated and inferred resources as at December 31, 2011. Indicated mineral resources for the Ağı Dağı and
Kirazlı Projects only (at a 0.2 g/t Au cut-off) increased to 110.1 million tonnes grading 0.65 g/t Au for 2.2 million ounces of gold. This represents a 35% increase in the number of indicated gold resource ounces as compared to the
December 31, 2010 estimate of 1.65 million ounces. This also represents a 13% increase from the mineral resource estimate released in September 2011, and a 70% increase relative to the Scoping Study published in March 2010. The increase in
indicated mineral resources is attributable primarily to resource additions at Kirazlı. Inferred mineral resources remained unchanged at 26.4 million tonnes grading 0.55 g/t Au for 0.45 million ounces. 

  
  

58 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 The Company is currently completing a preliminary feasibility study for the Ağı Dağı and Kirazlı
Projects that will include updated mineral resource estimates for both projects to account for additional drilling carried out in 2011. Detailed summaries of the indicated and inferred mineral resources for Ağı Dağı and
Kirazlı are presented in the tables shown below. 
  

											
	
Ağı Dağı Project – Measured & Indicated Mineral Resources 1 2
 December 31, 2011

	Cut-off  	  	Tonnes	  	Grade	  	Grade	  	Contained	  	Contained
	(g/t Au)  	  	(000s)	  	(g/t Au)	  	(g/t Ag)	  	Ounces Au	  	Ounces Ag
	  

1.00  
	  	7,712	  	2.22	  	11.95	  	551,517	  	2,962,869
	  

0.80  
	  	11,767	  	1.77	  	9.17	  	667,816	  	3,468,340
	  

0.60  
	  	19,256	  	1.35	  	6.86	  	833,539	  	4,247,593
	  

0.40  
	  	37,953	  	0.92	  	4.82	  	1,119,244	  	5,880,323
	  

0.20  
	  	79,366	  	0.59	  	3.32	  	1,509,804	  	8,478,675
	  

0.10  
	  	116,390	  	0.45	  	2.72	  	1,672,578	  	10,176,660

  

	(1) 	 Measured and indicated resources for the Ağı Dağı project, which include the Baba, Ayitepe, Deli, and Fire Tower zones, are pit
constrained with cut-off determined as a net of process value of $0.10 per tonne, for each model block. The determination was based on a US$1,250 per ounce gold price and a US$22.50 per ounce silver price, a December 2011 resource model, average pit
slope angle of 38 degrees, and estimated costs and recoveries based on the ongoing pre-feasibility study specifications. The resources were then tabulated by gold cut-off grade. 

	(2) 	 Mineral resources are not mineral reserves and do not have demonstrated economic viability. 

 

											
	
Kirazlı Project – Measured &
Indicated Mineral Resources 1 2
 December 31, 2011

	Cut-off  	  	Tonnes	  	Grade	  	Grade	  	Contained	  	Contained
	(g/t Au)  	  	(000s)	  	(g/t Au)	  	(g/t Ag)	  	Ounces Au	  	Ounces Ag
	  

1.00  
	  	4,480	  	2.46	  	20.92	  	354,768	  	3,012,901
	  

0.80  
	  	5,337	  	2.21	  	19.05	  	378,448	  	3,268,245
	  

0.60  
	  	8,446	  	1.65	  	15.81	  	447,034	  	4,294,024
	  

0.40  
	  	16,730	  	1.07	  	11.12	  	575,256	  	5,978,734
	  

0.20  
	  	30,748	  	0.71	  	8.49	  	706,437	  	8,392,499
	  

0.10  
	  	38,124	  	0.61	  	8.02	  	746,485	  	9,832,224

  

	(1) 	 Measured and indicated mineral resources for the Kirazlı project are pit constrained with cut-off determined as a net of process value of $0.10
per tonne, for each model block. The determination was based on a $1,250 per ounce gold price, $22.50 per ounce silver price, a December 2011, average pit slope angle of 380 and estimated costs and recoveries based on ongoing pre-feasibility study specifications. Mineral resources were then
tabulated by gold cut-off grade. 

	(2) 	 Mineral resources are not mineral reserves and do not have demonstrated economic viability. 

 

											
	
Ağı Dağı Project – Inferred Mineral Resources 1 2

December 31,
2011

	Cut-off  	  	Tonnes	  	Grade	  	Grade	  	Contained	  	Contained
	(g/t Au)  	  	(000s)	  	(g/t Au)	  	(g/t Ag)	  	Ounces Au	  	Ounces Ag
	  

1.00  
	  	1,319	  	2.69	  	22.57	  	113,989	  	957,004
	  

0.80  
	  	1,899	  	2.14	  	16.39	  	130,483	  	1,000,418
	  

0.60  
	  	3,382	  	1.50	  	10.19	  	162,656	  	1,108,076
	  

0.40  
	  	8,105	  	0.90	  	5.34	  	235,653	  	1,390,435
	  

0.20  
	  	20,861	  	0.53	  	2.86	  	355,793	  	1,920,374
	  

0.10  
	  	30,123	  	0.41	  	2.29	  	397,347	  	2,216,091

  
  

59 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
  

	(1) 	 Inferred resources for the Ağı Dağı project, which include the Baba, Ayitepe, Deli, and Fire Tower zones, are pit constrained with
cut-off determined as a net of process value of $0.10 per tonne, for each model block. The determination was based on a US$1,250 per ounce gold price and a US$22.50 per ounce silver price, a December 2011 resource model, average pit slope angle of
38 degrees, and estimated costs and recoveries based on the ongoing pre-feasibility study specifications. The resources were then tabulated by gold cut-off grade.Mineral resources are not mineral reserves and do not have demonstrated economic
viability. 

	(2) 	 Mineral resources are not mineral reserves and do not have demonstrated economic viability. 

 

											
	
Kirazlı Project – Inferred Mineral
Resources 1
 December 31, 2011

	Cut-off  	  	Tonnes	  	Grade	  	Grade	  	Contained	  	Contained
	(g/t Au)  	  	(000s)	  	(g/t Au)	  	(g/t Ag)	  	Ounces Au	  	Ounces Ag
	  
 1.00  
	  	413	  	1.69	  	27.66	  	22,472	  	367,321
	  
 0.80  
	  	590	  	1.45	  	22.65	  	27,485	  	429,572
	  
 0.60  
	  	1,205	  	1.06	  	16.84	  	41,215	  	652,541
	  
 0.40  
	  	3,061	  	0.71	  	12.36	  	70,015	  	1,216,277
	  
 0.20  
	  	5,575	  	0.52	  	9.95	  	93,288	  	1,783,621
	  
 0.10  
	  	7,040	  	0.45	  	9.44	  	101,279	  	2,137,363

  

	(1) 	 Inferred mineral resources for the Kirazlı project are pit constrained with cut-off determined as a net of process value of $0.10 per tonne, for
each model block. The determination was based on a $1,250 per ounce gold price, $22.50 per ounce silver price, a December 2011 mineral resource, average pit slope angle of 380 and estimated costs and recoveries based on ongoing pre-feasibility study
specifications. Mineral resources were then tabulated by gold cut-off grade. 

 Outlook 

In 2011, the Company demonstrated exploration success at its Ağı Dağı and Kirazlı Projects in northwestern Turkey, with measured
and indicated resources increasing significantly since the Company acquired the projects in early 2010. In addition, the discovery of the Çamyurt Project is expected to materially contribute to the Company’s production profile in Turkey.
An initial resource estimate for the Çamyurt Project will be released in the second quarter of 2012. 
 Throughout 2012, activities in
Turkey will be focused on completing the preliminary feasibility study in the second quarter, securing EIA approvals in the third quarter and the commencement of construction activities in the fourth quarter of 2012. The preliminary feasibility
study will incorporate the additional mineral resources and accommodate the increased scope of the projects since acquisition. The Company believes that the revised combined production profile of Ağı Dağı and Kirazlı could
result in annual production rates in Turkey that are substantially higher than initially reported in the March 2010 Scoping Study of 135,000 ounces per annum over an expected 8-year mine life. 

DIVIDENDS 
 On
March 4, 2011, the Company announced that it had increased its semi-annual dividend to$0.05 per share payable on May 2, 2011 to shareholders of record on April 15, 2011. The semi-annual dividend was increased again to $0.07 on
September 15, 2011, and further increased to $0.10 per share on February 24, 2012, payable on April 30, 2012 to shareholders of record on April 13, 2012. This represents a 233% increase since the first semi-annual dividend was
declared in the first quarter of 2010. 
 In 2011, the Company paid a total of $14.1 million in dividends. 

  
  

60 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Payment of any future dividends will be at the discretion of the Company’s Board of Directors, after taking into account
many factors, including the Company’s operating results, financial condition and current and anticipated cash needs. 
 Subject to the
provisions of the Business Corporations Act (British Columbia), the Board of Directors of the Company may declare dividends payable to the Company’s shareholders according to their respective rights and interest in the Company. Dividends may be
paid in money or property or by issuing fully paid common shares of the Company. 
 DESCRIPTION OF CAPITAL STRUCTURE

 Common Shares 
 The
Company’s authorized capital consists of one class of common shares without par value (the “common shares”). The Company is authorized to issue an unlimited number of common shares. Each common share is entitled to one vote. As at
December 31, 2011, a total of 118,383,008 common shares were issued and outstanding. As at March 29, 2012, a total of 119,314,006 common shares were issued and outstanding. 
 All of the Company’s common shares are of the same class and rank equally as to voting rights, dividends and participation in assets of the Company on wind-up or dissolution. There are no pre-emptive
rights or conversion rights, and no provisions for redemption or purchase for cancellation, surrender, or sinking or purchase funds, however the Company’s Articles provide that the Company may, if authorized by a resolution of the directors,
purchase or otherwise acquire any of its shares at the price and upon the terms specified in such resolution and subject to the Business Corporations Act (British Columbia). Provisions as to creation, modification, amendment or variation of such
rights or such provisions are contained in the Business Corporations Act (British Columbia). 
 MARKET FOR SECURITIES

 The Company’s common shares are listed on the TSX under the trading symbol “AGI”. 

Trading Price and Volume 
 The following
table sets out the monthly low and high trading prices and the monthly volume of trading of the common shares of the Company on the TSX for the financial year ended December 31, 2011: 

 

							
	2011	  	Low ($CAD)    	  	High ($CAD)    	  	
Volume
	
January
	  	15.05    	  	18.80    	  	11,313,600
	 February
	  	15.04    	  	17.20    	  	10,521,100
	 March
	  	15.48    	  	17.98    	  	9,353,100
	 April
	  	13.63    	  	15.95    	  	12,434,800
	
May
	  	13.51    	  	15.62    	  	6,845,400
	 June
	  	14.52    	  	16.10    	  	9,330,300
	 July
	  	15.59    	  	18.48    	  	10,928,500
	 August
	  	16.81    	  	19.07    	  	12,671,800
	 September
	  	14.59    	  	19.73    	  	14,102,700
	 October
	  	15.23    	  	18.85    	  	9,837,000
	 November
	  	15.29    	  	18.64    	  	9,991,000
	 December
	  	16.04    	  	17.72    	  	8,252,000

  
  

61 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 PRIOR SALES 
 The following table summarizes the number and price at which stock options were issued during the most recently completed financial year ending December 31, 2011. A total of 2,115,000 stock options
were issued in 2011 at an average exercise price of CAD$14.30, as follows: 
  

									
	Date	  	Type of Security	  	Price per Security (CAD$)	  	Number of Securities	 
				
	 January 20, 2011
	  	Options	  	16.39	  	 	50,000 	  
				
	 May 9, 2011
	  	Options	  	15.30	  	 	15,000 	  
				
	 May 12, 2011
	  	Options	  	14.24	  	 	2,050,000 	  

 DIRECTORS AND OFFICERS 
 The name, province or state and country of residence, positions held within the Company and principal occupation of each director and executive officer of the Company during the five preceding years from
the date of this AIF are as follows: 
  

					
	 NAME, POSITION

PROVINCE OR STATE AND

COUNTRY OF RESIDENCE(1)
	  	 PRINCIPAL OCCUPATIONS

DURING THE PAST 5 YEARS(1)
	  	 TERM AS A

DIRECTOR

			
	 JOHN A. McCLUSKEY

President, Chief Executive Officer and Director

Ontario, Canada
	  	Chief Executive Officer and President of the Company.	  	Since February 21, 2003
			
	 MARK
WAYNE(2)(4)
 Chairman, Director
 Alberta, Canada
	  	Chief Financial Officer of Regulus Resources Inc. since December, 2010. Prior thereto, Chief Financial Officer of Antares Minerals Inc. since June 2004; Vice-President of MGI
Securities Inc. since January 2005 and Chief Financial Officer of QGX Ltd., from 1994 to August 2006.	  	Since May 24, 2005
			
	 JAMES M. McDONALD(2)(3)(4)(5)
 Director
 Alberta, Canada
	  	Chief Executive Officer and Director of Kootenay Silver Inc.; and President of Makwa Exploration Ltd., a private geological consulting company owned by Mr. McDonald.	  	Since February 21, 2003
			
	 KENNETH
STOWE(5)
 Director
 Ontario, Canada
	  	Director of several mining companies. Chief Executive Officer, Northgate Minerals from 2001 to July 2011.	  	Since September 26, 2011
			
	 ANTHONY GARSON(3) (5)

Director
 Ontario, Canada
	  	Consultant and a director of several mining companies.	  	Since June 7, 2010.
			
	 DAVID
GOWER (3)
 Director
 Ontario, Canada
	  	President of Brazil Potash Corporation since 2009. Chairman of Castillian Resources Corporation since January 2010, President and CEO of Castillian Resources Corporation from
December 2006 to January 2010.	  	Since May 19, 2009
			
	 PAUL MURPHY (2)

Director
 Ontario, Canada
	  	Chief Financial Officer, Guyana Goldfields since April 2010. Partner and National Mining Leader, PricewaterhouseCoopers LLP from 2004 to April 2010. Partner, PricewaterhouseCoopers
LLP since 1981.	  	Since February 19, 2009
			
	 JAMES R. PORTER
 Chief
Financial Officer
 Ontario, Canada
	  	Chief Financial Officer (“CFO”) of the Company from June 2011 to present; Vice-President of Finance of the Company from July 2008 to June 2011; Controller of the Company
from October 2005 to July 2008.	  	N/A

  
  

62 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  

					
	 NAME, POSITION

PROVINCE OR STATE AND

COUNTRY OF RESIDENCE(1)
	  	 PRINCIPAL OCCUPATIONS

DURING THE PAST 5 YEARS(1)
	  	 TERM AS A

DIRECTOR

			
	 MANLEY R. GUARDUCCI

Chief Operating Officer
 British Columbia,
Canada
	  	Vice-President and Chief Operating Officer of the Company from May 2008 to present; Mine Manager of the Company from April 2007 to May 2008; General Manager, San Andres Mine, Yamana
Gold from December 2005 to April 2007.	  	N/A
			
	 GREGORY FISHER

Vice-President Finance
 Ontario,
Canada
	  	Vice-President of Finance of the Company from June 2011 to present; Controller of the Company from April 2010 to June 2011; Senior Manager, KPMG from September 2002 to March
2010.	  	N/A
			
	 CHARLES TARNOCAI

Vice-President, Exploration and Corporate Development
 British Columbia, Canada
	  	Vice-President of Exploration and Corporate Development of the Company from April 2008 to present; Chief Geologist of Oro Gold/Silver Resources from January 2006 to April
2008.	  	N/A
			
	 HAN ILHAN

Vice-President, Projects
 Ankara,
Turkey
	  	Vice-President of Projects of the Company from October 2011 to present; Vice-President, URS Corporation from 1985 to September 2011.	  	N/A
			
	 SHARON L. FLEMING

Corporate Secretary
 British Columbia,
Canada
	  	Corporate Secretary of the Company from 2003.	  	N/A
			
	 CHRISTINE BARWELL

Vice-President, Human Resources
 Ontario,
Canada
	  	Vice-President of Human Resources of the Company from April 2010 to present. Manager, International Assignments, Kinross Gold from September 2009 to April 2010. Senior Manager,
Global Mobility, PricewaterhouseCoopers LLP from January 1999 to August 2009.	  	N/A

  

	(1) 	 The information as to province or state of residence and principal occupation, not being within the knowledge of the Company, has been furnished by the
respective directors and executive officers individually. 

	(2) 	 Denotes member of Audit Committee. Mr. Murphy is the chairman of this Committee. 

	(3) 	 Denotes member of Compensation and Nominating Committee. Mr. Gower is the chairman of this Committee. 

	(4) 	 Denotes member of Corporate Governance Committee. Mr. McDonald is the chairman of this Committee. 

	(5) 	 Denotes member of the Technical, Environmental, Social and Employee Health and Safety Committee. Mr. Stowe is the chairman of this Committee.

 The term of office of each of the current directors expires at the next annual general meeting of shareholders. 

As at the date of this AIF, the Company’s directors and executive officers, as a group, beneficially own, directly or indirectly, or exercise
control or direction over a total of 1,057,387 common shares, directly or indirectly, representing approximately 0.9% of the issued and outstanding common shares of the Company. 
 Cease Trade Orders or Bankruptcies 
 Except as described below, no director or executive
officer of the Company is, as at the date of this AIF, or was within 10 years before the date of this AIF, a director, chief executive officer or chief financial officer of any company (including the Company), that: 

 

	1.	was subject to a cease trade order, an order similar to a cease trade order or an order that denied the relevant company access to any exemption under securities
legislation, for a period of more than 30 consecutive days, that was issued while the director or executive officer was acting in the capacity as director, chief executive officer or chief financial officer; or 

 

	2.	was subject to a cease trade order, an order similar to a cease trade order or an order that denied the relevant company access to any exemption under securities
legislation, for a period of more than 30 consecutive days, that was issued after the director or executive officer ceased to be a director, chief executive officer or chief financial officer and which resulted from an event that occurred while that
person was acting in the capacity as director, chief executive officer or chief financial officer. 

  
  

63 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 Except as described below, no director or executive officer of the Company, and no shareholder holding a sufficient number of
securities of the Company to affect materially the control of the Company: 
  

	1.	is, as at the date of this AIF, or has been within the 10 years before the date of this AIF, a director or executive officer of any company (including the Company)
that, while that person was acting in that capacity, or within a year of that person ceasing to act in that capacity, became bankrupt, made a proposal under any legislation relating to bankruptcy or insolvency or was subject to or instituted any
proceedings, arrangement or compromise with creditors or had a receiver, receiver manager or trustee appointed to hold its assets; or 

  

	2.	has, within 10 years before the date of this AIF, become bankrupt, made a proposal under any legislation relating to bankruptcy or insolvency, or become subject to or
instituted any proceedings, arrangement or compromise with creditors, or had a receiver, receiver manager or trustee appointed to hold the assets of the director, executive officer or shareholder. 

In February 2009, Railpower Technologies Corporation filed for bankruptcy. Mr. Mark Wayne was a former director of that company, having ceased to be
a director in June 2008. 
 Penalties or Sanctions 
 No director or executive officer of the Company or a shareholder holding a sufficient number of common shares of the Company to affect materially the control of the Company has been subject to:

  

	 	(a)	any penalties or sanctions imposed by a court relating to securities legislation or by a securities regulatory authority or has entered into a settlement agreement with
a securities regulatory authority; or 

  

	 	(b)	any other penalties or sanctions imposed by a court or regulatory body that would likely be considered important to a reasonable investor in making an investment
decision. 

 The foregoing, not being within the knowledge of the Company, has been furnished by the respective directors,
executive officers and shareholders holding a sufficient number of securities of the Company to affect materially the control of the Company. 

Conflicts of Interest 
 Certain directors
and officers of the Company are also directors, officers or shareholders of other companies that are similarly engaged in the business of acquiring, developing and exploiting natural resource properties. The directors and officers of the Company are
also directors of other companies that are similarly engaged in the business of acquiring, developing and exploiting natural resource properties. These associations with other public companies in the resource sector may give rise to conflicts of
interest from time to time. The directors and officers of the Company are required by law to act honestly and in good faith with a view to the best interests of the Company and to disclose any interest that they may have in a contract or transaction
if the contract or transaction is material to the Company, the Company has entered, or proposes to enter, into the contract or transaction, and either the director or officer has a material interest in the contract or transaction or the director or
officer is a director or officer of, or has a material interest in, a corporation that has a material interest in the contract or transaction. If a conflict of interest arises at a meeting of the board of directors, any director in a conflict is
required to disclose his interest and abstain from voting on such matter. In determining whether the Company will participate in any project or opportunity, the directors will primarily consider the degree of risk to which the Company may be exposed
and its financial position at the time. 

  
  

64 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 AUDIT COMMITTEE 
 Pursuant to the provisions of section 224 of the Business Corporations Act (British Columbia), the Company is required to have an Audit Committee. The Company must also, pursuant to the provisions of
National Instrument 52-110 Audit Committees (“NI 52-110”), have a written charter that sets out the duties and responsibilities of its audit committee. The Company’s audit committee charter is attached hereto as Schedule
“A”. 
 Composition of the Audit Committee 
 The Audit Committee, at the present time, is comprised of Messrs. Paul Murphy (Chair), Mark Wayne and James McDonald. Each member is financially literate and all members of the Audit Committee are
independent directors. 
 Relevant Education and Experience 
 Mr. Murphy is a Chartered Accountant and former Partner at a national accounting firm, PricewaterhouseCoopers LLP. Mr. Wayne is a Chartered Financial Analyst and has served as Chief Financial
Officer of several public companies, including currently Regulus Resources Inc. Mr. McDonald is the President of a gold exploration company. In these positions, each member has been responsible for reviewing financial information and obtaining
an understanding of the balance sheet, income statement and statement of cash flows and how these statements are integral in assessing the financial position of the company and its operating results. Each member has a significant understanding of
the mineral exploration and mining business in which the Company is engaged in and has an appreciation for the relevant accounting principles for this business. 
 Reliance on Certain Exemptions 
 At no time since the commencement of the Company’s
most recently completed financial year has the Company relied on the exemptions in section 2.4 (De Minimis Non-audit Services), section 3.2 (Initial Public Offerings), section 3.4 (Events Outside Control of Member), section 3.5 (Death, Disability or
Resignation of Audit Committee Member) or Part 8 (Exemptions). 
 Reliance on the Exemption in Subsection 3.3(2) or Section 3.6

 At no time since the commencement of the Company’s most recently completed financial year has the Company relied on the exemption in
subsection 3.3(2) (Controlled Companies) or section 3.6 (Temporary Exemption for Limited and Exceptional Circumstances). 
 Reliance on
Section 3.8 
 At no time since the commencement of the Company’s most recently completed financial year has the Company relied on
section 3.8 (Acquisition of Financial Literacy). 
 Audit Committee Oversight 
 At no time since the commencement of the Company’s most recently completed financial year was a recommendation of the Audit Committee to nominate or compensate an external auditor not adopted by the
Board of Directors. 
 Pre-approval Policies and Procedures 
 The Audit Committee has adopted specific policies and procedures for the engagement of non-audit services that require the auditors to submit to the committee a proposal for services to be provided and
cost estimate for approval. 

  
  

65 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 External Auditor Service Fees (Category) 

 

									
	Fiscal Year End	  	Audit Fees	  	Audit Related
Fees(1)	  	Tax Fees(2)	  	All Other Fees(3)
	 2011

 
	  	
$331,185
  
	  	
$10,000
  
	  	
$125,966
  
	  	
$2,500
  

	 2010
	  	$332,005	  	$98,458	  	$94,501	  	$-

  

	(1) 	 Fees charged for assurance and related services reasonably related to the performance of an audit, and not included under “Audit Fees”.

	(2) 	 Fees charged for tax compliance, tax advice and tax planning services. 

	(3) 	 Fees for services other than disclosed in any other column. 

 INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS 
 Other than as set forth herein
and other than transactions carried out in the ordinary course of business of the Company or any of its subsidiaries, none of the directors or executive officers of the Company, any shareholder directly or indirectly beneficially owning, or
exercising control or direction over, shares carrying more than 10% of the voting rights attached to the shares of the Company, nor an associate or affiliate of any of the foregoing persons has since January 1, 2007 (being the commencement of
the Company’s third most recently completed financial year) any material interest, direct or indirect, in any transactions that materially affected or would materially affect the Company or any of its subsidiaries. 

TRANSFER AGENT AND REGISTRAR 
 The Company’s registrar and transfer agent, Computershare Trust Company of Canada, is located at 3rd Floor, 510 Burrard Street, Vancouver, British Columbia V6C 3B9 and its Toronto affiliate is
located at Suite 5210, 52nd Floor, 66 Wellington Street West, PO Box 240 TD Centre, Toronto, Ontario M5K 1J3. 
 LEGAL
PROCEEDINGS 
 The Company has no material legal proceedings to which it is a party as at March 30, 2012, other than as described under
the section entitled “Narrative Description of the Business – Risk Factors” in this document. 
 MATERIAL
CONTRACTS 
 Except for contracts entered into in the ordinary course of business or as described in this AIF, the Company has not entered
into any other material contracts during the most recently completed financial year, or since January 1, 2002 that are still in full force and effect, and which may be reasonably regarded as presently material. 

INTERESTS OF EXPERTS 

Ernst & Young LLP prepared an audit report with respect to the Company’s financial statements for the years ended December 31, 2011
and 2010. Neither Ernst & Young LLP, nor any partner, employee or consultant of Ernst & Young LLP involved in the preparation of such report, is known by the Company to hold any securities of the Company. 

ADDITIONAL INFORMATION 

Additional information relating to the Company is available under the Company’s profile on the SEDAR website at www.sedar.com. Financial
information relating to the Company is provided in the Company’s comparative consolidated financial statements and management’s discussion and analysis for the most recent fiscal year. 

Additional information, including directors and officers’ remuneration and indebtedness, principal holders of the Company’s securities and
securities authorized for issuance under equity compensation plans, if applicable, is contained in the Company’s information circular dated April 29, 2011 for its Annual and General meeting of shareholders which was held on June 2,
2011. 

  
  

66 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 SCHEDULE “A” 
 AUDIT COMMITTEE CHARTER 
 Organization 

This charter governs the operations of the Audit Committee (the “Committee”) of Alamos Gold Inc. (the “Company”). The purpose,
composition, responsibilities, and authority of the Committee are set out in this Charter. 
 This Charter and the Articles of the Company and
such other procedures, not inconsistent therewith, as the Committee may adopt from time to time, shall govern the meetings and procedures of the Committee. 
 Purpose 
 The Committee shall provide assistance to the Board of Directors of the Company
(the “Board”) in fulfilling their oversight responsibility to the shareholders, potential shareholders, the investment community, and others relating to: 
  

	 	1.	the integrity of the Company’s financial statements; 

  

	 	2.	the financial reporting process; 

  

	 	3.	the systems of internal accounting and financial controls; 

  

	 	4.	risk management; 

  

	 	5.	the performance of the Company’s internal audit function (if applicable) and independent auditors; 

 

	 	6.	the independent auditors’ qualifications and independence; and 

  

	 	7.	the Company’s compliance with ethics policies and legal and regulatory requirements. 

 Composition 
 The Committee shall be composed of at least three directors of the Company
(the “Members”), each of whom is “independent” as defined in National Instrument 52-110 Audit Committees or any successor policy. 
 All Members shall be “financially literate” as defined in National Instrument 52-110 Audit Committees or any successor policy. 
 Members shall be appointed by the Board and shall serve until they resign, cease to be a director, or are removed or replaced by the Board. 
 The Board shall designate one of the Members as chair of the Committee (the “Chair”). 

The Members shall appoint, from among their number, a secretary of the Committee (the “Secretary”). 

Authority 
 The Committee is authorized
to carry out its responsibilities as set out in this Charter, and to make recommendations to the Board arising therefrom. 
 In discharging its
oversight role, the Committee is empowered to investigate any matter brought to its attention with full access to all books, records, facilities, and personnel of the Company and the authority to engage, and to set and pay the compensation of,
independent accountants, legal counsel and other advisers as it determines necessary to carry out its duties. 

  
  

67 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 The Committee may also communicate directly with the auditors, legal and other advisors, management and employees of the
Company to carry out its responsibilities and duties set out in this Charter. 
 The Company shall pay directly or reimburse the Committee for
the expenses incurred by the Committee in carrying out its responsibilities. 
 Responsibilities 

The primary responsibility of the Committee is to oversee the Company’s financial reporting process on behalf of the Board and report the results of
their activities to the Board. While the Committee has the responsibilities and powers set forth in this Charter, it is not the duty of the Committee to plan or conduct audits or to determine that the Company’s financial statements are complete
and accurate and are in accordance with generally accepted accounting principles. Management is responsible for the preparation, presentation, and integrity of the Company’s financial statements and for the appropriateness of the accounting
principles and reporting policies that are used by the Company. The independent auditors are responsible for auditing the Company’s financial statements and for reviewing the Company’s unaudited interim financial statements. 

The Committee, in carrying out its responsibilities, believes its policies and procedures should remain flexible, in order to best react to changing
conditions and circumstances. The Committee should take appropriate actions to set the overall corporate “tone” for quality financial reporting, sound business risk practices, and ethical behaviour. The following shall be the principal
direct responsibilities of the Committee: 
  

	1.	Appointment and termination (subject, if applicable, to shareholder ratification), compensation, and oversight of the work of the independent auditors, including
resolution of disagreements between management and the auditors regarding financial reporting. The Committee shall arrange for the independent auditors to report directly to the Committee. 

 

	2.	Pre-approve all audit and non-audit services provided by the independent auditors and not engage the independent auditors to perform the specific non-audit services
prohibited by law or regulation. The Committee may delegate pre-approval authority to a member of the Committee. The decisions of any Committee member to whom pre-approval authority is delegated must be presented to the full Committee at its next
scheduled meeting. 

  

	3.	At least annually, obtain and review a report by the independent auditors describing: 

 

	 	(a)	The firm’s internal quality control procedures. 

  

	 	(b)	Any material issues raised by the most recent internal quality control review, or peer review, of the firm, or by any inquiry or investigation by governmental or
professional authorities, within the preceding five years, respecting one or more independent audits carried out by the firm, and any steps taken to deal with any such issues. 

 

	 	(c)	All relationships between the independent auditor and the Company (to assess the auditor’s independence). 

  
  

68 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  

	4.	Establish clear hiring policies for employees, partners, former employees and former partners of the current and former independent auditors of the Company that meet
the requirements of applicable securities laws and stock exchange rules. 

  

	5.	Discuss with the auditors, the overall scope and plans for audits of the Company’s financial statements, including the adequacy of staffing and compensation.
Ensure there is rotation of the audit partner having primary responsibility for the independent audit of the Company at such intervals as may be required. 

  

	6.	Discuss with management and the auditors the adequacy and effectiveness of the accounting and financial controls, including the Company’s policies and procedures
to assess, monitor, and manage business risk, and legal and ethical compliance programs (e.g. Company’s Code of Business Conduct and Ethics). 

  

	7.	Periodically meet separately with management and the auditors to discuss issues and concerns warranting Committee attention. The Committee shall provide sufficient
opportunity for the auditors to meet privately with the members of the Committee. The Committee shall review with the auditor any audit problems or difficulties and management’s response. 

The processes set forth represent a guide with the understanding that the Committee may supplement them as appropriate. 

Specifically Delegated Duties 
 For
purposes of this Charter, specific accounting, financial and treasury related duties delegated to the Committee by the Company’s Board of Directors include: 
 Accounting and Financial 
  

	1.	Receive regular reports from the independent auditor on the critical policies and practices of the Company, and all alternative treatments of financial information
within generally accepted accounting principles that have been discussed with management. 

  

	2.	Where applicable, review management’s assertion on its assessment of the effectiveness of internal controls as of the end of the most recent fiscal year and the
independent auditor’s report on management’s assertion. 

  

	3.	Review and discuss annual and interim earnings press releases before the Company publicly discloses this information. 

 

	4.	Review and approve the interim quarterly unaudited financial statements and disclosures under Management’s Discussion and Analysis of Financial Condition and
Results of Operations with management and, where applicable, the independent auditors prior to the filing of the Company’s Quarterly Report or their inclusion in any filing with regulatory authorities. Also, the Committee shall discuss the
results of the quarterly review, if any, and any other matters required to be communicated to the Committee by the independent auditors under generally accepted auditing standards. The chair of the Committee may represent the entire Committee for
the purposes of this review. 

  

	5.	Review with management and the independent auditors the financial statements and disclosures under Management’s Discussion and Analysis of Financial Condition and
Results of Operations to be included in the Company’s Annual Report to shareholders and any other filing with regulatory authorities, including their judgment about the quality, not just the acceptability of accounting principles, the
reasonableness of significant judgments, and the clarity of the disclosures in the financial statements. 

  
  

69 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
  

	6.	The Committee shall discuss any matters required to be communicated to the Committee by the independent auditors under generally accepted auditing standards and shall
specifically review with the independent auditors, upon completion of their audit: 

  

	 	(a)	the contents of their report; 

  

	 	(b)	the scope and quality of the audit work performed; 

  

	 	(c)	the adequacy of the Company’s financial and auditing personnel; 

  

	 	(d)	co-operation received from the Company’s personnel during the audit; 

  

	 	(e)	significant transactions outside of the normal business of the Company; and 

 

	 	(f)	significant proposed adjustments and recommendations for improving internal accounting controls, accounting principles or management systems. 

 

	7.	Establish procedures for the review of the public disclosure of financial information extracted from the financial statements of the Company. 

 

	8.	Establish procedures for the receipt, retention, and treatment of complaints received by the Company regarding accounting, internal accounting controls, or auditing
matters, and the confidential, anonymous submission by employees of the Company of concerns regarding questionable accounting or auditing matters. 

 Treasury Related 
  

	1.	Monitor and review risk management strategies as they pertain to the Company’s general insurance programs, and foreign exchange and commodity hedging programs, and
make recommendations to the Board with respect to such strategies. 

  

	2.	Approve investment policies and appoint investment managers, where appropriate, for the Company’s retirement and other funded benefit plans.

  

	3.	Perform such other duties in respect of financial matters as, in the opinion of the Board, should be performed by the Committee. 

Meetings and Proceedings 
 The Committee
shall meet as frequently as required, but not less than four times each year. Any Member or the independent auditors of the Company may call a meeting of the Committee. 
 The agenda of each meeting of the Committee will include input from the independent auditors, directors, officers and employees of the Company as appropriate. Meetings will include presentations by
management, or professional advisers and consultants when appropriate, and will allow sufficient time to permit a full and open discussion of agenda items. 
 Unless waived by all Members, a notice of each meeting of the Committee confirming the date, time, place, and agenda of the meeting, together with any supporting materials, shall be forwarded to each
Member and the independent auditors of the Company at least three days before the date of the meeting. 
 The independent auditors of the
Company are entitled to attend and be heard at every meeting of the Committee at the expense of the Company. 
 The quorum for each meeting of
the Committee is a majority of the Members. The Chair of the Committee shall chair each meeting. In the absence of the Chair, the other Members may appoint one of their number as chair of a meeting. The chair of a meeting shall not have a second or
casting vote. 
 The Chair of the Committee or his delegate shall report to the Board following each meeting of the Committee. 

  
  

70 | ALAMOS GOLD INC 

 ANNUAL INFORMATION FORM - 2011 
  
 The Secretary or his delegate shall keep minutes of all meetings of the Committee, including all resolutions passed by the
Committee. Minutes of meetings shall be distributed to the Members and the other directors of the Company after preliminary approval thereof by the Chair of the Committee. 
 The Committee shall meet regularly alone to facilitate full communication. 
 Self-Assessment

 The Committee and the Board shall annually assess the effectiveness of the Committee with a view to ensuring that the performance of the
Committee accords with best practices. 
 The Committee shall review and reassess this Charter at least annually and obtain the approval of the
Company’s Board for any changes. 
 Responsibilities of Chair 
 The Chair of the Committee shall provide leadership to the Committee to enhance the Committee’s effectiveness and ensure adherence to this Charter. 

The Chair of the Committee is responsible for managing the Committee, including: 

 

	 	(a)	chairing all meetings of the Committee in a manner that promotes meaningful discussion; 

 

	 	(b)	preparing or providing direction to management to prepare an appropriate agenda for Committee meetings and ensuring pre-meeting material is distributed in a timely
manner and is appropriate in terms of relevance, efficient format and detail; 

  

	 	(c)	adopting procedures to ensure that the Committee can conduct its work effectively and efficiently, including committee structure and composition, scheduling, and
management of meetings; and 

  

	 	(d)	ensuring meetings are appropriate in terms of frequency, length and content. 

 This Charter amends, restates, replaces and supersedes the Audit Committee Charter of the Company adopted by the Board on April 28, 2003. 
 Adopted by the Board of the Company effective December 9, 2008. 

  
  

71 | ALAMOS GOLD INC

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