Almadex sets out 2026 exploration work

Executive Summary

• Almadex Minerals reports initial assay results from the first drill hole at its New Hope porphyry copper-gold project in Arizona, confirming a large phyllic alteration system with high-level veining extending to 384 meters, though no significant copper mineralization was encountered.
• The company received further significant rock chip sampling results from the Big Sky epithermal gold-silver project in New Mexico, with additional samples returning up to 1.8 g/t gold, expanding the known area of prospectivity.
• Exploration activities are advancing across the portfolio, including the completion of a second drill hole at New Hope, drone magnetics surveys at multiple projects, and upcoming induced polarization (IP) geophysical surveys at the Rattlesnake project.

Key Details

• New Hope Project (Arizona) - Drilling Results:
  • First hole intersected andesite porphyry with moderate to strong phyllic alteration and quartz veining to 384 meters.
  • Encountered propylitic to potassic alteration below a zone of faulting and brecciation.
  • Pyrite content estimated up to 7% within the phyllic alteration zone.
  • Anomalous gold encountered in several short sections of veining within the phyllic altered zone.
  • No significant copper mineralization was encountered in the first hole.
  • Drilling on the second hole is complete; assays are pending.
  • The drilling is located on the western edge of a 2.5 km by 0.75 km area of mapped phyllic and remnant lithocap porphyry alteration.
• New Hope Project - Future Plans:
  • Further induced polarization (IP) geophysics planned to explore for chargeability and resistivity responses to the east and northeast of the first two drill holes.
• Big Sky Project (New Mexico) - Sampling Results:
  • 2025 preliminary results: 19 of 57 grab samples returned >0.1 g/t gold, with four samples >1 g/t gold (up to 3.5 g/t gold).
  • Recent additional sampling: 87 rock chip samples returned up to 1.8 g/t gold (averaging 0.1 g/t gold).
  • Soil sampling showed elevated gold and epithermal suite elements near the gold-in-rock results.
  • Company plans further IP geophysical surveying to define drill targets.
• Other Exploration Activities:
  • Drone-based magnetic surveys completed at New Hope, King, and Rattlesnake projects; data is being analyzed.
  • Induced polarization (IP) geophysical survey to commence shortly at the Rattlesnake porphyry-epithermal project in Arizona.
  • Regional generative exploration program continuing in the western USA.

Notable Quotes

• "We are conducting a large and aggressive early-stage generative exploration in the western USA. At the same time, we have begun first-pass drill testing of our new project portfolio. The results from the first ever Almadex drill hole on the property confirm a large alteration system. We look forward to planning the next steps at New Hope and a year focused on generative exploration and advancing our exciting new portfolio of early-stage porphyry and epithermal targets in the western USA." — J. Duane Poliquin, Chairman