VANCOUVER, BC--(Marketwired - November 28, 2017) - Almadex Minerals Limited ("Almadex" or the "Company") (TSX VENTURE: AMZ) (AXDDF) is pleased to announce it has received assay results from holes EC-17-037, 038 and 039, the first ever drilled at the Raya Tembrillo area which is the very northern part of the large Villa Rica Zone of the El Cobre property. This area is located approximately two kilometers south of the Norte Zone where previous drilling on the El Cobre property has been carried out. All holes reported today were drilled from the same pad but at various azimuth and dips.

All holes intersected a chalcocite dominant enriched copper zone right from surface. This is the first time significant enriched mineralisation has been identified on the project. Hole EC-17-037 also intersected significant hypogene copper and gold grades while hole EC-17-039 intersected a stockwork zone with significant gold grades and minor copper enrichment. At this time the extent and orientation of both the hypogene and enriched mineralisation are not understood. Further drilling in the area is currently underway. Final assays for holes EC-17-036 and EC-17-041 are expected shortly once they have passed Almadex's rigorous QA/QC program. Highlights include the following intercepts all of which are also shown on the attached plan and section:

J. Duane Poliquin, Chairman of Almadex commented, "We are very excited to report these first assays from the very northern part of the large Villa Rica Zone. We believe that these results are proof of large scale porphyry potential in this part of the project. While we have demonstrated the potential for a significant deposit with our Norte drilling, today's first pass results at Raya Tembrillo clearly show that we are dealing with a large cluster of porphyry systems all of which hold the potential to be important porphyry copper-gold deposits."

About the El Cobre Project

The El Cobre Project has a total area of 7,456 hectares and is located adjacent to the Gulf of Mexico, about 75 kilometers northwest of the major port city of Veracruz, Mexico and has uniquely excellent infrastructure. The project area is situated 200 meters above sea level with extensive road access and is located less than 10 kilometers from a power plant, highway, gas line and other major infrastructure. Major power lines cross the property area. Almadex has its full drill permits from SEMARNAT and has land access agreements in place. The land ownership is private over most of the project area, has previously been cleared and is used for local agricultural purposes.

Diamond drill testing at Encinal, El Porvenir, and Norte has returned wide intercepts of porphyry copper-gold and narrow zones of intermediate sulphidation epithermal gold-silver vein mineralization, with selected intercepts as follows:" data-reactid="29">The four copper-gold porphyry targets currently known within the El Cobre Project, Encinal, El Porvenir, Norte and Villa Rica are defined by distinct Cu-Au soil anomalies, discrete, positive magnetic features and a large IP chargeability anomaly. The largest target area is the Villa Rica Zone and apart from the current drilling has never been drill tested in past programs. Limited past RC and Diamond drill testing at Encinal, El Porvenir, and Norte has returned wide intercepts of porphyry copper-gold and narrow zones of intermediate sulphidation epithermal gold-silver vein mineralization, with selected intercepts as follows:

First pass drilling at the Raya Tembrillo area of the Villa Rica Zone is continuing. The Villa Rica Zone is a roughly 2.5 kilometer by 1 kilometer area defined by a strong north-northwest trending magnetic-chargeability high and associated copper-gold soil geochemical anomaly.

More information on El Cobre is available on the Almadex website at http://www.almadexminerals.com/ASSETS/PROJECTS/Cobre.html.

Larry Segerstrom, M.Sc. (Geology), P.Geo., A Director of the Company, is a Qualified Person as defined by National Instrument 43-101 ("NI 43-101") and has reviewed and approved the contents of this news release. The porphyry mineralisation reported in this news release is associated with broad areas of alteration and stockwork veining. True widths cannot be determined at this time. The analyses reported were carried out at ALS Chemex Laboratories of North Vancouver using industry standard analytical techniques. For gold, samples are first analysed by fire assay and atomic absorption spectroscopy ("AAS"). Samples that return values greater than 10 g/t gold using this technique are then re-analysed by fire assay but with a gravimetric finish. For copper, samples are first analysed by Inductively Coupled Plasma - Atomic Emission Spectroscopy ("ICP-AES"), with four acid digestion. Samples that return values greater than 10000 g/t copper using this technique are then re-analysed by HF-HNO3-HCLO4 digestion with HCL leach and ICP-AES finish. Blanks, field duplicates and certified standards were inserted into the sample stream as part of Almadex's quality assurance and control program which complies with National Instrument 43-101 requirements. A NI 43-101 compliant technical report on the El Cobre project entitled, "Technical Report on the El Cobre Property" was filed in May 2015 and can be obtained from www.sedar.com.