Alamos Gold and Richmont Mines Announce Receipt of Interim Court Order, Special Meetings of Shareholders and Mailing of Information Circular

Toronto (ots/PRNewswire) - Alamos Gold Inc. ("Alamos") (TSX: AGI)
(NYSE: AGI) and Richmont Mines Inc. ("Richmont") (TSX: RIC) (NYSE:
RIC) today announced that Alamos and Richmont have been granted an
interim order from the Quebec Superior Court (Commercial Division)
authorizing various matters, including the holding of special
meetings of Alamos and Richmont shareholders to consider the proposed
plan of arrangement (the "Transaction") whereby Alamos will acquire
all of the issued and outstanding shares of Richmont, and the mailing
of the joint information circular.

The special meetings of Alamos and Richmont shareholders to consider
the Transaction will be held on November 16, 2017 at the offices of
Fasken Martineau DuMoulin LLP, 333 Bay Street, 24th Floor, Toronto,
Ontario M5H 2T6. Richmont's special meeting will commence at 10:00
a.m. (Eastern time) followed by Alamos' special meeting of
shareholders at 10:30 a.m. (Eastern Time). Shareholders of record as
of the close of business on October 17, 2017 will be eligible to vote
at the special meetings.

Alamos and Richmont have prepared a joint information circular with
respect to the Transaction which will be mailed to shareholders of
record as of October 17, 2017. The information circular will also be
available on SEDAR (http://www.sedar.com), EDGAR (http://www.sec.gov)
and the Alamos and Richmont websites at http://www.alamosgold.com and
http://www.richmont-mines.com.

Alamos and Richmont's Board of Directors unanimously recommend that
their shareholders vote in favor of the proposed Transaction.

About Alamos Gold Inc.

Alamos is a Canadian-based intermediate gold producer with
diversified production from three operating mines in North America.
This includes the Young-Davidson mine in northern Ontario, Canada and
the Mulatos and El Chanate mines in Sonora State, Mexico.
Additionally, the Company has a significant portfolio of development
stage projects in Canada, Mexico, Turkey, and the United States.
Alamos employs more than 1,300 people and is committed to the highest
standards of sustainable development. The Company's shares are traded
on the TSX and NYSE under the symbol "AGI".

About Richmont Mines Inc.

Richmont Mines currently produces gold from the Island Gold Mine in
Ontario and is also advancing development of the significant
high-grade resource extension to the east and at depth. With more
than 35 years of experience in gold production, exploration and
development, and prudent financial management, the Corporation has
successfully positioned the Island Gold Mine to cost-effectively
build its Canadian reserve base and to enter its next phase of
growth. The Corporation's shares are traded on the TSX and NYSE under
the symbol "RIC".

Cautionary Note - Forward Looking Statements

This News Release contains "forward-looking statements". All
statements other than statements of historical fact included in this
release, are forward-looking statements that involve various risks
and uncertainties and are based on forecasts of future operational or
financial results, estimates of amounts not yet determinable and
assumptions of management. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects" or "does not expect", "is expected", "anticipates" or "does
not anticipate", "plans", "estimates" or "intends", or stating that
certain actions, events or results "may", "could", "would", "might",
"have potential" 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 that could cause actual events or results to
differ from those reflected in the forward-looking statements.

Please consult the section titled "Risk Factors" in Alamos' Annual
Information Form and other disclosures of "Risk Factors" by Alamos,
available on SEDAR and EDGAR. There can be no assurance that such
statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements.

The TSX and NYSE have not reviewed and do not accept responsibility
for the adequacy or accuracy of this release. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein.

For further information please visit the Alamos and Richmont websites
at http://www.alamosgold.com or http://www.richmont-mines.com

Scott Parsons, Vice-President, Investor Relations, Alamos Gold Inc.,
416-368-9932 x 5439, [email protected]; Anne Day, Senior Vice
President, Investor Relations, Richmont Mines Inc., 416-368-0291 ext.
105, [email protected]

ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER | PRN

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