Almadex Acquires Red Antler Silver-Gold Epithermal Vein Project by Staking, Surface Sampling returns 24 g/t Silver

Executive Summary

• Almadex Minerals Ltd. acquired a 100% interest in the Red Antler early‑stage exploration project in western Utah by staking.
• Preliminary sampling of 34 grab rocks returned encouraging grades – 12 samples > 1 g/t Ag (up to 24 g/t Ag, avg 1.4 g/t) and anomalous Au values, indicating a well‑preserved low‑sulphidation epithermal system.
• The company plans further mapping, sampling, surface geophysics and drilling later in 2025 to advance the target.

Key Details

• Acquisition: 100 % interest obtained via staking; no cash consideration disclosed.
• Location & Geology: Red Antler property lies within rhyolitic volcanics with quartz‑alunite‑kaolinite alteration, cross‑cut by quartz veining; indicative of advanced argillic alteration and low‑sulphidation epithermal environment.
• Sampling Results:
• 34 grab rock samples collected from outcrop and float.
• 12 samples > 1 g/t Ag (maximum 24 g/t Ag, average 1.4 g/t Ag).
• Anomalous gold values also reported; other epithermal suite elements showed high anomalies.
• Exploration Work Completed:
• Initial site visit identified veining over a 2 km × 1 km area.
• Microscopic fluid‑inclusion petrography confirmed high preservation of the epithermal system.
• Small‑scale historic mine workings noted; no modern exploration present.
• Planned Work: Stage‑two surface mapping, additional sampling, and preliminary geophysical surveys to be completed; results will be reported when available.
• Future Outlook: Company intends to advance Red Antler alongside drilling programs on more advanced properties throughout 2025.

Notable Quotes

“Our regional exploration program continues to identify new targets for acquisition. This preliminary work at Red Antler has identified a new epithermal vein system which we look forward to advancing in the coming months… We fully expect 2025 to be an important year for our Company.” – J. Duane Poliquin, Chairman, Almadex Minerals Ltd.