Three New Gold-Silver Exploration Projects Acquired

VANCOUVER - Almadex Minerals Ltd. has acquired three new gold-silver early-stage exploration projects by staking. The projects are located in Nevada and New Mexico. The Big Sky high sulphidation epithermal gold-silver project is located in western New Mexico and covers a large area of advanced argillic alteration and silicification hosted in rhyolite volcanics. Zones of hydrothermal brecciation occur along with quartz-alunite and dickite alteration. To date 57 grab rock samples have been taken from outcrop and subcrop (grab samples are selected samples and may not represent true underlying mineralisation). These preliminary results are very encouraging as 19 of these samples returned over 0.1 g/t gold with 4 returning more than 1 g/t gold (up to 3.5 g/t gold and averaging 0.26 g/t gold for all 57). The better values were returned from zones of brecciation that are part of several parallel quartz-alunite ridges that have been identified in the preliminary work. Results have now also been returned from a small preliminary soil grid which showed elevated gold and epithermal suite elements in proximity to the gold in rock results. Together these results help define a broad area of prospectivity surrounding the outcrops mapped to date. Almadex has initiated further soil sampling, geological work and a preliminary geophysical IP survey over the project area to help define potential targets to drill test this high sulphidation gold system in the future.

The Bald Valley and White Plains projects are located in eastern Nevada. At both projects large alteration zones have been mapped. The alteration mineralogy is consistent with a high-sulphidation/porphyry lithocap environment, including the presence of advanced argillic alteration. At both projects, the areas of advanced argillic alteration mapped to date cover roughly 2 km x 1 km, within which are observed silicified hematite-rich alunite ridges. While no significant assays were returned from the preliminary sampling undertaken prior to staking (9 samples from Bald Valley and 13 samples from White Plains) the alteration suggests the potential for both concealed high sulphidation epithermal and porphyry mineralisation. Further sampling and mapping has recently been completed, and geophysical surveys are planned.