Acquisition Of Red Antler Silver-Gold Epithermal Vein Project

VANCOUVER – Almadex Minerals Ltd. has acquired a 100% interest in the Red Antler early-stage exploration project by staking. The project is located in western Utah and was identified as part of Almadex’s ongoing regional exploration program in the western USA.
The Red Antler property covers an area of rhyolitic volcanics affected by quartz-alunite-kaolinite alteration and crosscut by quartz veining. The project was identified during a site visit that was made based on criteria used as part of Almadex’s generative exploration including the presence of advanced argillic alteration developed in volcanic rocks. Only very preliminary work was performed prior to staking. This work identified veining over a 2 by 1 km area. Vein textures are typical of very high levels in a low sulphidation epithermal environment including fine textured colloform banded quartz. Several samples of vein material were examined microscopically for fluid inclusion petrography. This work confirms a high level of preservation of the epithermal system. Some small-scale historic mine workings have also been identified which appear very old but there is no evidence of any modern exploration work in the area. To date 34 grab rock samples have been taken from outcrop and float of veining (grab samples are selected samples and may not represent true underlying mineralisation). These preliminary results are very encouraging considering the interpretation of a high level of preservation of the epithermal system as 12 of these samples returned over 1 g/t silver (up to 24 g/t silver and averaging 1.4 g/t silver for all 34). Anomalous gold values were also returned along with highly anomalous epithermal suite elements. The company has recently conducted a stage two mapping and sampling program to better understand the geometry and geochemistry of the veins along with preliminary surface geophysics. Results will be reported when received, compiled and interpreted.