Almadex receives TSX-V approval for JV agreement

Executive Summary

• The TSX Venture Exchange approved Almadex Minerals Ltd.’s option/joint‑venture agreement with Azucar Minerals Ltd., granting Azucar the right to acquire a 60% interest in three of Almadex’s wholly owned Nevada claim blocks (Pilot, Confusion Hills, Red Ring).
• Douglas McDonald resigned from all board and executive positions effective Oct. 2 2025 but will remain as an advisor to support succession and ongoing business activities.

Key Details

• Option Agreement:
• Approved by TSX Venture Exchange.
• Azucar Minerals Ltd. holds an option to purchase a 60% interest in the Pilot, Confusion Hills, and Red Ring prospect blocks located in Nevada.

• The agreement was previously announced on May 1 2025; this filing confirms regulatory approval.

• Management Change:

• Douglas McDonald resigned as director and Executive Vice‑President effective Oct. 2 2025.

• He will continue to serve in an advisory capacity to assist with succession planning and ongoing operations.

• Corporate Context:

• Almadex Minerals Ltd. is an exploration company with a portfolio of projects and NSR royalties across Canada, the United States, and Mexico, operating its own portable diamond drill rigs for cost‑effective first‑pass drilling.

Notable Quotes

(No direct quotes were provided in the release.)