Mining Americas Announces Key Permit Approvals for Development of the Cerro de Oro Project in Northern Zacatecas, Mexico

Minera Alamos Inc. (MAI) announced that SEMARNAT has approved the land use change (ETJ-CUS) and environmental impact assessment (MIA) for its 100%-owned Cerro de Oro project in Zacatecas, Mexico. These approvals pave the way for planning a construction decision, which will include detailed engineering, mine design evaluation, and a new drill program to test depth extents and optimize metallurgy.

The project’s 2023 Preliminary Economic Assessment (PEA) outlined a resource of 67 million tonnes at 0.37 g/t Au, containing 790 koz Inferred gold. The plan projects an 8.2-year mine life with 477 koz of total production, averaging approximately 58 koz per year, supported by $28 million in initial capital and a 0.3:1 strip ratio.

In other developments, a technical report for the Copperstone project was filed on SEDAR+ following the May 2026 Preliminary Feasibility Study (PFS), with minor differences noted in financial model assumptions. Construction decisions for the Gold Rock project are targeted for later in 2026. CEO Darren Blasutti described the Cerro de Oro approval as a "momentous occasion" that provides a clear path to medium-term production increases.

Minera Alamos Inc. received a permitting update that removes a key regulatory hurdle for the Cerro de Oro project, advancing the asset toward a 2027 construction decision. The approval does not alter near-term production volumes, cost structure, or cash flow generation, which remain anchored to the Pan mine ramp-up.

Since the TSX graduation, the stock has consolidated between $5.17 and $6.60. The market has likely already priced in this permitting step, as evidenced by the flat price action following the release.

Minera Alamos Inc. (TSX: MAI) is transitioning into a U.S.-focused intermediate gold producer. The company’s portfolio includes the producing Pan Operating Complex in Nevada, the construction-stage Copperstone project in Arizona, the development-stage Gold Rock project in Nevada, the permitting-stage Cerro de Oro project in Mexico, and the development-stage La Fortuna and Santana projects in Mexico.

The company’s strategy involves leveraging cash flow from the Pan mine to fund low-capital-intensity organic growth projects. Management is led by CEO Darren Blasutti, who has prior experience at Barrick and AGS, and President & COO Darren Koningen, who previously worked at El Castillo.