Almadex Commences Diamond Drilling at The New Hope Copper Porphyry Project, Arizona, USA and Grants Stock Options
Almadex Commences New Hope Drilling, Options Dilute Shares Amidst Ongoing Exploration Spree
On December 15, 2025, Almadex Minerals Ltd. announced the commencement of a scout exploration diamond drill program at its wholly-owned New Hope copper-gold porphyry project in Arizona, USA. The company anticipates the initial hole will not be completed before the upcoming Christmas break, with further drilling plans to be formulated based on geological observations in the New Year. Chairman J. Duane Poliquin expressed enthusiasm for drill testing the defined porphyry target using various vectoring techniques.
Concurrently, Almadex granted 350,000 stock options to a director. These options are exercisable at US$0.47 per share, have a five-year term, and expire on December 12, 2030.
The commencement of drilling at the New Hope project is a routine operational milestone that aligns with previously articulated company plans. News from November 7, 2025, indicated intentions to move the drill to New Hope following the Paradise program, and earlier updates (September 3, 2025, and April 23, 2025) had already highlighted an approved drill permit and strong geophysical targets. While execution of the drilling program is positive, there are no immediate results, thus no material impact on the project's resource potential or the company's valuation at this stage.
The grant of 350,000 stock options represents a minor dilutive event, equating to approximately 0.57% of the 61.18 million shares outstanding. This is a common practice for executive compensation but is inherently dilutive to existing shareholders. The exercise price of US$0.47 (equivalent to roughly CAD$0.64 based on recent exchange rates for financial reporting) is above the current share price of CAD$0.49, implying a premium for the option holder to exercise.
In the context of the company's broader exploration efforts across numerous projects in the Western USA and the ongoing Ixtaca arbitration, this news is not material. It represents the planned execution of a small part of a much larger, multi-faceted exploration strategy. The market has likely already factored in the expectation of drilling at New Hope given prior announcements. The lack of drilling results means there's no new information to change the fundamental outlook.
Almadex Minerals Ltd. (TSX-V: DEX) is a mineral exploration company focused on generating, acquiring, and advancing exploration projects, primarily for copper-gold porphyry and epithermal gold-silver targets in the Western United States. The company operates with a project generator model, also holding a portfolio of net smelter return (NSR) royalties on various precious and base metal projects across North America.
While Almadex maintains a diverse portfolio, its primary current "flagship" exploration efforts are focused on the New Hope copper-gold porphyry project in Arizona and the Paradise copper-gold porphyry project in Nevada. * New Hope: Acquired in 2023, this 958.7-hectare project in Arizona is characterized by intense hydrothermal alteration and a 600-meter-diameter zone of sheeted quartz-magnetite veining. Recent IP surveys defined a strong geophysical target, leading to the current scout drilling program. * Paradise: This 1,547-hectare project in Nevada covers a large porphyry lithocap. Initial drilling in 2024 confirmed porphyry veining but was interpreted as distal. Recent geophysical surveys (magnetics, IP) have helped define two high-priority drill targets, with a 2025 drill program underway. The initial results from this program, however, showed no significant intervals from the first hole and the fourth hole was lost due to poor conditions. * Other Projects: The company is actively conducting generative work on several other early-stage exploration projects in Nevada (Pilot Mountain, Confusion Hills, Red Ring, Ruby Hill, Bald Valley, White Plains), Utah (Red Antler), New Mexico (Big Sky, Petaca, Tierra Blanca), and Colorado (King). * Logan Project (Yukon, Canada): This is a wholly-owned zinc-silver project with an indicated resource of 2.6 million tonnes at 5.1% Zn and 23.1 g/t Ag, and an inferred resource of 16.9 million tonnes at 4.3% Zn and 18.2 g/t Ag. The company is seeking a qualified partner to advance this project. * Royalty Portfolio: Almadex holds various royalties, including a 2% NSR on the Ixtaca project in Mexico, which is currently subject to a major arbitration claim against the Mexican government for $1.06 billion USD. They also have a 2% NSR on the Tim property (Yukon), where Coeur Mining is actively exploring.
The company's development strategy involves systematic, multi-stage exploration, moving from regional generative work to detailed mapping, sampling, geophysics, and ultimately first-pass drilling. They aim to advance projects through internal exploration and also seek joint venture partners for certain assets.