VANCOUVER, BC--(Marketwired - December 05, 2017) - Almadex Minerals Limited ("Almadex" or the "Company") (TSX VENTURE: AMZ) (AXDDF) is pleased to announce it has received assay results from holes EC-17-040 and 042, the first drilled since 2013 at the Porvenir Zone which is located roughly 3 km to the southeast of the Norte Zone and 1.8 km southeast of the Raya Tembrillo area of the Villa Rica Zone. Since 1998, the El Porvenir area has seen 18 past diamond and RC drill holes many of which intersected important porphyry mineralisation. Hole EC-17-040 was drilled at an azimuth of 220 to cut approximately perpendicular to the strike of a sheeted vein zone identified in outcrop. This hole intersected significant fresh hypogene porphyry alteration and associated copper gold mineralisation. Hole EC-17-042 was drilled to the west (270 azimuth) and is interpreted to have missed this vein zone. Highlights from hole EC-17-040 and 042 include the following intercepts all of which are also shown on the attached plan and section:

J. Duane Poliquin, Chairman of Almadex commented, "These are the first assays in many years from the Porvenir Zone in the central part of the El Cobre project. We believe that these results demonstrate the potential for a significant deposit in this area of the property and again clearly shows that we are dealing with a large cluster of porphyry systems all of which hold the potential to be important porphyry copper-gold deposits. As exploration progresses, it will be interesting to see how the Norte, Porvenir, Villa Rica, and Encinal zones relate at depth."

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.

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. 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:

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.