Almadex drills third hole at Paradise target

Mr. Morgan Poliquin reports ALMADEX PROVIDES PARADISE DRILLING UPDATE AND REGIONAL EXPLORATION PROGRESS REPORT Almadex Minerals Ltd. has provided an update on recent and planned exploration activity. Paradise drilling activities Drilling of a third hole at the Paradise porphyry lithocap exploration target has commenced, and a fourth hole is planned for this 2025 vectoring drill campaign. All four holes in this 2025 program were planned in different parts of this large (currently mapped at 4.5 by 1.8 kilometres) alteration zone. The program has been designed to test different parts of the lithocap, where high-temperature alteration, high-chargeability and magnetic features have been mapped in previous geophysical, geochemical and geological programs conducted by the company. Assays from the first hole in the program have been received. While there are no significant intervals to report from this hole, which hit largely distal propylitic alteration, with some intervals of overprinting phyllic alteration, it provides important information for the vectoring efforts in the Paradise lithocap. When complete results are received and interpreted, the company will provide an update. Project-level exploration activities The company has continuing project-level fieldwork programs under way. Induced polarization geophysical survey work has recently been completed at the company's Pilot, Confusion Hills and Red Ring projects. A single test line designed to enhance targeting was completed on each project. All three lines returned chargeability anomalies that help refine the targets already identified. Surface geochemical sampling and mapping at the Bald Valley, White Plains and Red Antler projects are being compiled, but anomalous trace elements have been returned from the three projects. The results to date highlight high-sulphidation-style alteration interpreted to be related to a porphyry lithocap setting at Bald Valley and White Plains while a low-sulphidation epithermal vein system has been identified at Red Antler. Further work is under way at Bald Valley, with near-term programs planned for White Plains and Red Antler, which include IP geophysical test lines, allowing for preliminary first-pass drill plans to be drawn up for permitting. J. Duane Poliquin, chairman of Almadex, commented: "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." About Lithocap alteration zones and the Paradise lithocap Lithocaps are extensive areas of hydrothermally altered rocks that occur above or adjacent to intrusive rocks and related porphyry deposits. The hydrothermal alteration forms when ascending high-temperature magmatic fluids are released from the source intrusion below and alter permeable and reactive rocks occurring above. Lithocaps can be over 10 by 10 kilometres in surface area and over one km thick. The alteration mineral assemblages vary, usually with distance from the intrusive source. Often more neutral and higher temperature stable alteration mineral assemblages are seen at depth, closer to the source intrusion and potential porphyry deposit. More acidic and lower temperature stable assemblages generally occur higher and farther away. Mapping of alteration minerals and geochemical analysis using soil and rock samples can map these changes in mineralogy. This mapping can then provide a vector toward potential underlying porphyry systems. If large areas of lithocap alteration are well preserved, they can obscure deep unexposed porphyries and other styles of mineralization. If no mineralization is present at surface, drilling based on geochemical and alteration vectors aided by geophysical data is the best way to explore for buried deposits. The wholly owned 1,547-hectare Paradise property covers a roughly 4.5-by-1.8-kilometre area of exposed intense hydrothermal alteration developed in volcanic rocks. This alteration zone which includes quartz-alunite, pyrophyllite and diaspore is typical of high-sulphidation environments forming above porphyry copper-gold systems. The alteration has been mapped by Almadex using a Terraspec infrared spectrometer. This work, using rock chip spectral data points, has defined a well-preserved porphyry lithocap with alunite core zones (with increasing sodium composition) haloed by pyrophyllite, dickite and then hypogene kaolinite. Surrounding the acid sulphate zones are halos of sporadic paragonitic illite (grading to dominant muscovitic alteration) with chlorite in peripheral alteration halos (propylitic). Qualified person and technical details Morgan J. Poliquin, PhD, PEng, the president and chief executive officer of Almadex, and a qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical contents of this news release. The analyses reported were carried out at ALS Chemex Laboratories using industry standard analytical techniques. For gold, samples are first analyzed by fire assay and atomic absorption spectroscopy. Samples that return values greater than 10 g/t gold using this technique are then reanalyzed by fire assay but with a gravimetric finish. The IP geophysical lines were surveyed using the company's highly experienced in-house team and equipment, a five-kilowatt GDD transmitter and Iris Elrec-6 receivers generally using a 100-metre dipole in a pole-dipole array on eight levels. Pseudosections were prepared, and the data were inverted using RES2DINV software. About Almadex Minerals Ltd. Almadex is an exploration company that holds a large mineral portfolio consisting of projects and net smelter return royalties in Canada, the United States and Mexico. This portfolio is the direct result of many years of prospecting and deal making by Almadex's management team. The company owns several portable diamond drill rigs, enabling it to conduct cost-effective first-pass exploration drilling in-house. We seek Safe Harbor.