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Hamilton Spectator
23-05-2025
- Business
- Hamilton Spectator
Almaden Enters Into Key Persons Retention Agreement
VANCOUVER, British Columbia, May 23, 2025 (GLOBE NEWSWIRE) — Almaden Minerals Ltd. ('Almaden' or 'the Company'; TSX: AMM; OTCQB: AAUAF) announces that the Company has established a Key Persons Retention Agreement ('KPA'), which is a long-term incentive program to retain key personnel of the Company who have important historical information and knowledge to contribute towards its international arbitration proceedings (the 'Claim') under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership with the United Mexican States. The Company recognizes that the continued, active participation of the Key Persons is of material importance to the Claim and therefore requires the active support of the Key Persons throughout the Claim process. Each Key Person must satisfy specific Claim related duties and if they do so, each Key Person may be entitled to a pre-defined percentage of the proceeds received under the KPA. The KPA outlines that the Key Persons' entitlement is not related to participation as a witness in the Claim proceedings or performance as a witness should he serve as one. The KPA provides that if the Claim is successful and the Company receives damages proceeds, 4.0% of the net proceeds will be directed to the KPA for distribution to its participants (the 'Key Persons'), being Korm Trieu, CFO, and Douglas McDonald, Executive Vice President. The net proceeds consist of any gross damages award resulting from the Claim, less all the aggregate direct expenses related to it, including the costs relating to the litigation funding. In the event there are no net proceeds, no amount will be payable under the KPA. On the other hand, the KPA is subject to a maximum aggregate amount of US$12 million. This maximum aggregate amount does not reflect the Company's view on the merits of the Claim. The KPA will be submitted for approval by the Company's disinterested shareholders at the next Annual General and Special Meeting of Shareholders, scheduled for June 26, 2025 (the 'Meeting'). The management information circular for the Meeting (the 'Circular') will include full details of the KPA. The Company engaged Evans & Evans, Inc., a third party financial advisory firm, on an arm's length basis, who delivered a reasonableness letter to the Company confirming the terms of the KPA are fair and reasonable, from a financial standpoint, to the Company's shareholders (the 'Reasonableness Letter'). The foregoing conclusions are qualified in their entirety by reference to the full text of the Reasonableness Letter, a copy of which will be attached to the Circular. On behalf of the Board of Directors, 'J. Duane Poliquin' J. Duane Poliquin Chair Almaden Minerals Ltd. Safe Harbor Statement Certain of the statements and information in this news release constitute 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and 'forward-looking information' within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things, the timing, result and damages arising from the Claim and net proceeds paid to the Key Persons subject to the KPA; and the approval of the KPA by the Company's disinterested shareholders. These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant legal, regulatory, business, operational and economic uncertainties and contingencies, and such uncertainty generally increases with longer-term forecasts and outlook. These assumptions include: stability and predictability in Mexico's response to the arbitration process under the CPTPP; stability and predictability in the application of the CPTPP and arbitral decisions thereon; the ability to continue to finance the arbitration process, and continued respect for the rule of law in Mexico. The foregoing list of assumptions is not exhaustive. The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release. Such risks and other factors include, among others, risks related to: the application of the CPTPP and arbitral decisions thereon; continued respect for the rule of law in Mexico; political risk in Mexico; crime and violence in Mexico; corruption in Mexico; uncertainty as to the outcome of arbitration or the funding available to the Company to pursue it; as well as those factors discussed 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 the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in forward-looking statements or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that our forward-looking statements or information will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements or information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to on forward-looking statements or information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Contact Information: Almaden Minerals Ltd. Tel. 604.689.7644 Email: info@
Yahoo
23-04-2025
- Business
- Yahoo
Almadex Defines Large IP Geophysical Anomaly at The New Hope Copper Porphyry Project, Arizona, USA
New Hope Project - Geology Map New Hope Project - Inverted IP Chargeability Section VANCOUVER, British Columbia, April 23, 2025 (GLOBE NEWSWIRE) -- Almadex Minerals Ltd. ("Almadex" or the "Company") (TSX-V: 'DEX') is pleased to provide a summary of recent exploration results from the Company's wholly owned New Hope copper porphyry project in Arizona. A focussed one line IP chargeability and resistivity survey was recently carried out. The line was surveyed using the Company's highly experienced in house team and equipment, a 5 kW GDD transmitter and Iris Elrec-6 receivers using a 100 m dipole in a pole-dipole array on 8 levels. Pseudo sections were prepared and the data was inverted using RES2DINV software. The line was surveyed across the approximately 600 metre diameter area where sheeted quartz +/- magnetite veining was previously mapped. This veining has been interpreted to represent the upper portion of a shallowly emplaced and highly preserved porphyry copper system. The results of the geophysical survey outlined an anomaly over 1 kilometre wide defined by elevated chargeability, and coincident with the area of outcropping veins. Almadex is very encouraged by these results which provide further focus for a potential future first pass drilling program to test for a copper porphyry at depth. Almadex has an approved drill permit to conduct first pass drilling on the project. Compiled geophysical, geochemical and geological results will be posted to Almadex's website. Geophysical surveys are not definitive, and the results are still at an early stage of interpretation, with no guarantee of a mineral discovery. J. Duane Poliquin, Chairman of Almadex commented, 'Project level exploration continues to advance our newly acquired portfolio of high-quality porphyry lithocap targets in the western USA. It is exciting to define a strong geophysical target at New Hope in the same area where mapping at surface has outlined an area of high level porphyry veining. We look forward to further advancing the New Hope project in 2025.' About the New Hope ProjectThe 958.7 hectare New Hope project is located in southeastern Arizona, near several large porphyry copper deposits currently being mined including Lone Star (approximately 35 kilometres away) and Morenci (approximately 50 kilometres away). The project covers a roughly 3.5 by 1.5 kilometre area of intense hydrothermal alteration developed in volcanic rocks and crosscutting intrusive dykes. The observed hydrothermal alteration is characteristic of the upper levels of a porphyry system. The project was acquired in 2023 by staking and broad scale mapping of the lithocap has been carried out over much of the property. Within the area mapped, exposed advanced argillic alteration was identified to the northeast, and to the southwest an exposed set of porphyry-related veinlets was defined in limonitic alteration. This zone of quartz veining is currently interpreted to represent a potential centre to the porphyry system at New Hope. The observed zone of veining is an approximately 600 metre in diameter semi-circular area. The veins and veinlets are sheeted light to dark grey, semi-translucent quartz and magnetite with banded textures. Fluid inclusion petrography on these veinlets indicate that they were formed by vapour rich fluids. These types of veinlets are interpreted to be typical of shallow-level emplaced porphyry systems and above the level at which main stage porphyry-style copper-gold mineralisation is to be expected. Within this broader area, two inner zones about 200 metres and 100 metres in diameter were mapped where veinlet densities of greater than 10 per metre were observed (see Almadex new release of April 8, 2024). About Lithocap Alteration ZonesLithocaps 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 km in surface area and over 1 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 towards potential underlying porphyry systems. If large areas of lithocap alteration are well preserved, they can obscure deep unexposed porphyries and other styles of mineralisation. If no mineralisation is present at surface, drilling based on geochemical and alteration vectors aided by geophysical data is the best way to explore for buried deposits. Qualified PersonsMorgan J Poliquin, PhD, PEng, the President and CEO of Almadex and a Qualified Person as defined by National Instrument 43-101 ("NI 43-101"), has reviewed and approved the scientific and technical contents of this news release. About AlmadexAlmadex Minerals Ltd. is an exploration company that holds a large mineral portfolio consisting of projects and NSR royalties in Canada, the U.S., 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. On behalf of the Board of Directors, 'J. Duane Poliquin' J. Duane Poliquin, ChairmanAlmadex Minerals Ltd. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. Forward-looking statements in this news release include, among other things, any further work to advance exploration targets at the New Hope project. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, permitting, continued availability of capital and financing, equipment availability and general economic, market or business conditions. The foregoing list of assumptions is not exhaustive. There can be no assurances that forward-looking statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws. Contact Information:Almadex Minerals 604.689.7644Email: info@ Photos accompanying this announcement are available at: in to access your portfolio
