Almadex drills third hole at Paradise target

Executive Summary

• Almadex Minerals commenced drilling of a third hole and plans a fourth hole in the 2025 vectoring drill campaign at the Paradise porphyry lithocap target.
• Initial assay results from Hole 1 show only distal propylitic alteration with no significant mineralized intervals, but provide valuable vectoring information for subsequent holes.
• Completed induced‑polarization (IP) geophysical surveys at Pilot, Confusion Hills and Red Ring projects returned chargeability anomalies; surface geochemical work at Bald Valley, White Plains and Red Antler identified high‑sulphidation alteration and a low‑sulphidation epithermal vein system, guiding near‑term drill planning.

Key Details

• Paradise Drilling Program
• Hole 3 started; Hole 4 planned for later in 2025.
• All four holes target different parts of the ~4.5 km × 1.8 km alteration zone.
• Hole 1 assays received – primarily distal propylitic alteration with limited phyllic overprinting; no significant gold intervals reported.
• Project‑Level Exploration
• IP geophysical survey completed on single test lines at Pilot, Confusion Hills and Red Ring projects; each line returned chargeability anomalies that refine existing targets.
• Surface geochemical sampling at Bald Valley, White Plains and Red Antler shows anomalous trace elements indicative of high‑sulphidation alteration (Bald Valley & White Plains) and a low‑sulphidation epithermal vein system (Red Antler).
• Ongoing work: further IP lines at Bald Valley; near‑term IP surveys planned for White Plains and Red Antler to develop first‑pass drill plans.
• Technical Information
• Assays performed by ALS Chemex Laboratories using fire assay with atomic absorption spectroscopy; samples >10 g/t Au re‑analyzed gravimetrically.
• IP surveys employed a 5 kW GDD transmitter, Iris Elrec‑6 receivers, 100 m dipole in pole‑dipole array on eight levels; data inverted with RES2DINV software.
• Management Comment
• J. Duane Poliquin, Chairman: “We look forward to receiving all results from this Paradise vectoring drill program… we continue to advance our other projects towards first‑pass drilling programs in the coming months.”

Notable Quotes

• J. Duane Poliquin (Chairman): “We look forward to receiving all results from this Paradise vectoring drill program. In the meantime, we continue to advance our other projects towards first‑pass drilling programs in the coming months.”