Alamos said it paid $40 million cash and issued an aggregate of 4 million Alamos common shares to Teck and Fronteer in consideration for acquiring the projects. 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 Agi Dagi project.

In 2010, Alamos expects to spend approximately $12.8 million in Turkey on development and exploration activities related to Kirazli and the Deli, Baba, and Camyurt zones at Agi Dagi. The company intends to drill 34,000 m at a cost of $6.8 million, while the 2010 development budget of $6 million is related primarily to the completion of a scoping study in 1Q 2010, environmental impact assessments, initiation of a prefeasibility study, and other expenditures related to establishing operations in Turkey.