Almadex starts scout drill program at New Hope

Executive Summary

• Almadex Minerals Ltd. has commenced a scout diamond drilling program at its wholly owned New Hope copper-gold porphyry project in Arizona, USA.
• The initial drill hole is expected to remain incomplete until after the Christmas break, with further drilling plans to be determined based on geological observations from the first hole in the New Year.
• The company granted stock options to a director to purchase 350,000 common shares at an exercise price of 47 cents per share, expiring on December 12, 2030.

Key Details

• Drilling Program: Scout exploration drill program initiated at the New Hope copper-gold porphyry prospect.
• Drilling Status: Initial hole not expected to be completed before the Christmas break.
• Future Plans: Further drilling plans to be made based on geological observations from the first hole upon completion in the New Year.
• Techniques Used: Combined target vectoring techniques including alteration and geological mapping, fluid inclusion petrography, geochemistry, and geophysics.
• Option Grant:
  • Recipient: A director of the company.
  • Quantity: 350,000 common shares.
  • Exercise Price: 47 cents per share.
  • Expiration Date: December 12, 2030.
• Qualified Person: Morgan J. Poliquin, PhD, PEng, President and CEO, reviewed and approved the scientific and technical contents.

Notable Quotes

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