Almadex Minerals restarts drilling at New Hope

Executive Summary

• Almadex Minerals Ltd. has resumed drilling at its wholly owned New Hope copper-gold project in Arizona, USA.
• The current program targets a surface-mapped area of veining that coincides with an Induced Polarization (IP) chargeability geophysical anomaly identified in earlier work.
• The first hole was initially collared in December 2025 prior to the Christmas break and is now underway; further drilling plans will be determined based on geological observations from this initial hole.

Key Details

• Project Location: New Hope copper-gold project, southeastern Arizona, USA.
• Project Size: 958.7 hectares.
• Drilling Status: Drilling has recommenced; the first hole is currently under way.
• Target: An area of veining mapped at surface, coincident with an IP chargeability geophysical anomaly.
• Historical Context: The first hole was initially collared in December 2025.
• Geological Setting: The project is located near large porphyry copper deposits (Lone Star ~35km away, Morenci ~50km away). It covers a 3.5-by-1.5-kilometre area of intense hydrothermal alteration in volcanic rocks and crosscutting intrusive dikes.
• Alteration Characteristics: Observed hydrothermal alteration is characteristic of the upper levels of a porphyry system. Exposed advanced argillic alteration was identified to the northeast, and porphyry-related veinlets were defined in limonitic alteration to the southwest.
• Veinlet Analysis: The zone of veining is an approximately 600-metre-in-diameter semi-circular area. Veins and veinlets are sheeted light to dark grey, semi-translucent quartz and magnetite with banded textures. Fluid inclusion petrography indicates formation by vapour-rich fluids, typical of shallow-level emplaced porphyry systems.
• High-Grade Zones: Two inner zones (200 metres and 100 metres in diameter) were mapped where veinlet densities exceeded 10 per metre.
• Exploration Methodology: The company is using combined target vectoring techniques including alteration and geological mapping, fluid inclusion petrography, geochemistry, and geophysics.
• Qualified Person: Morgan J. Poliquin, PhD, PEng, President and CEO, has reviewed and approved the scientific and technical contents.
• Geophysical Survey Details: Conducted by an in-house team using a five-kilowatt GDD transmitter and Iris Elrec-6 receivers using a 100-metre dipole in a pole-dipole array on eight levels. Data inverted using RES2DINV software.

Notable Quotes

• "We are excited to be drill testing the porphyry target we have defined at New Hope using combined target vectoring techniques, such as alteration and geological mapping, fluid inclusion petrography, geochemistry, and geophysics." — J. Duane Poliquin, Chairman