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Almaden
Minerals Ltd. ("Almaden" or "the
Company") (TSX:AMM - News)(AMEX:AAU - News) is pleased to report that Windstorm Resources Inc.
(TSX-V:WSR - News) ("Windstorm")
has commenced a minimum 3,000 m core drilling program on Almaden's
wholly owned Caldera gold project located in Puebla State, Mexico. Windstorm
has the right to earn up to a 60% interest in the Caldera project from Almaden by issuing 1,000,000 shares and completing
$5,000,000 in exploration work over six years. Of the work requirement,
$150,000 is a firm commitment to be spent in the first year of the agreement.
The Caldera property is located 10 km from Almaden's
new Ixtaca Zone discovery on its Tuligtic property. Caldera also has similarities to Almaden's Caballo Blanco
property, located 150 km to the east and under option to Goldgroup
Mining Inc., where a 30,000 m drill program is currently underway.
The
road accessible Caldera project was discovered by Almaden
in 2008 and lies at the eastern end of the Trans Mexican Volcanic Belt. The
property covers an 8km by 2km zone of intense acid sulphate
alteration, including zones of massive to vuggy
silica, quartz-alunite and kaolinite
that are interpreted to represent the very top levels of a well-preserved
high-sulphidation epithermal precious metal system.
Exploration completed to date, including geological mapping, rock chip
sampling, soil geochemical sampling and Induced Polarization ("IP")
geophysical surveys, have defined drill targets. The target at Caldera is a
bulk tonnage gold deposit where mineralization is anticipated to most likely
occur in association with zones of silica enrichment, which are electrically
resistive, and disseminated sulphide
mineralization, which typically produces an IP chargeability anomaly.
Anomalously enriched values of gold and related pathfinder elements (arsenic
- As, bismuth - Bi and antimony - Sb) detected in
surface rock and soil samples may be a reflection of more concentrated
precious metals mineralization at depth. Windstorm has announced that three
high priority target areas have been selected for testing in their initial
drill program.
Morgan
Poliquin, Ph.D., P.Eng.,
a Qualified Person as defined by National Instrument 43-101, and the
President and CEO of Almaden, has reviewed the
technical information contained in this release.
About
Almaden
Almaden
is a well-financed mineral exploration company working in North America. The
company has assembled mineral exploration projects, including the Ixtaca Zone, through its grass roots exploration efforts.
While the properties are largely at early stages of development they represent
exciting opportunities for the discovery of significant gold and copper
deposits as evidenced at Ixtaca. Currently six
projects (Caldera, Caballo Blanco, Tropico, Nicoamen River, Matehuapil and Merit), are optioned to separate third
parties who each have the right to acquire an interest in the respective
project from Almaden through making certain
payments and exploration expenditures. Four further projects are held in
joint ventures. Almaden also holds a 2% NSR
interest in 11 projects. Almaden's business model
is to find and acquire mineral properties and develop them by seeking option
agreements with others who can acquire an interest in a project by making
payments and exploration expenditures. Through this means the company has
been able to expose its shareholders to discovery and capital gain without
the capital that would be required if the company were to have developed
these projects without a partner. The company intends to expand this business
model, described by some as prospect generation, by more aggressively
exploring several of its projects including the Ixtaca
Zone.
On
Behalf of the Board of Directors
Morgan
J. Poliquin, Ph.D., P.Eng.,
President, CEO and Director
Almaden
Minerals Ltd.
Statements
contained in this news release that are not historical facts are forward
looking statements as that term is defined in the private securities
litigation reform act of 1995. Such forward looking statements are subject to
risks and uncertainties which could cause actual results to differ materially
from estimated results. Such risks and uncertainties are detailed in the
Company's filing with the Securities and Exchange Commission. Except for the
statements of historical fact contained herein, certain information presented
constitutes "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and Canadian
securities laws. Such forward-looking statements, including but not limited
to, those with respect to potential expansion of mineralization, potential
size of mineralized zone, and size and timing of exploration and development
programs, estimated project capital and other project costs and the timing of
submission and receipt and availability of regulatory approvals involve known
and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievement of Almaden to
be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors
include, among others, risks related to international operations and joint
ventures, the actual results of current exploration activities, conclusions
of economic evaluations, uncertainty in the estimation of mineral resources,
changes in project parameters as plans continue to be refined, environmental
risks and hazards, increased infrastructure and/or operating costs, labour and employment matters, and government regulation
and permitting requirements as well as those factors discussed in the section
entitled "Risk Factors" in Almaden's
Annual Information form and Almaden's latest Form
20-F on file with the United States Securities and Exchange Commission in
Washington, D.C. Although Almaden has attempted to
identify important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future events
could differ materially from those anticipated in such statements. Almaden disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, other than as required pursuant to
applicable securities laws. Accordingly, readers should not place undue
reliance on forward-looking statements.
Neither
the Toronto Stock Exchange (TSX) nor the NYSE AMEX have reviewed or accepted
responsibility for the adequacy or accuracy of the contents of this news
release which has been prepared by management.
Contact:
Contacts:
Almaden Minerals Ltd.
Morgan J. Poliquin, Ph.D., P.Eng.
President, CEO and Director
604-689-7644
608-689-7645 (FAX)
www.almadenminerals.com
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