Drilling Planned On New Hope Porphyry Project

VANCOUVER – Almadex Minerals Ltd. reported on the scout drilling program at the Paradise Project Nevada as well as its current drilling plans for the remainder of 2025. Results from the third hole of the Paradise program have been received, however the drilling program has been paused after losing the fourth hole due to poor drilling conditions before the target depth. The Company plans to next move its exploration rig and team to its New Hope porphyry copper-gold project in Arizona where the Company has permitted drill holes to test a zone of porphyry related veining mapped at surface and a nearby IP chargeability anomaly. The Company hopes to conduct a first pass drill program at New Hope, possibly before year end depending on certain logistical matters. As more fully described below, the Company is embarking on systematically drill testing its early-stage portfolio with first pass scout drilling on the projects where drill targets have been defined and permitted.
J Duane Poliquin, Chairman, said, “We are carrying out our plan to drill test our portfolio of newly assembled projects in the western USA. Many of these projects cover large porphyry lithocap alteration zones that may conceal buried porphyry deposits, the principal focus of our exploration efforts. These first pass drill programs are designed to best target mineralisation, but the results will be used to vector for a potential stage II program. We are excited to move the drill to New Hope Arizona where this process will continue next.”
The four hole vectoring drill program was designed to test different parts of the lithocap at Paradise where high temperature alteration, high chargeability and magnetic features have been mapped in previous geophysical, geochemical and geological programs conducted by the Company. All four holes in this 2025 program were planned in different parts of this large porphyry lithocap alteration zone. The Company has received results from the third scout hole, drilled in a previously untested part of the property, to the northwest of any previous drilling. This hole intersected propylitic alteration overprinted by zones of phyllic alteration with high pyrite. Several geochemically anomalous zones were intersected including 1.60 metres @ 0.48 g/t gold (from 480.40 to 482.00 metres depth) and 0.50 metres of 0.47 g/t gold (from 468.90 to 469.40 metres depth). Drilling was initiated on the fourth hole of the program however this hole was lost in very difficult drilling conditions and faulting prior to reaching its target depth. The hole was collared in argillic alteration, passed through a fault contact into propylitic alteration and then was lost after entering a zone with of segments of weak to moderate phyllic alteration. The Company has paused drilling work for drill crew breaks and to better plan a follow-up drill program in the future. The fourth hole was designed to target IP geophysics, advanced argillic alteration at surface and the edge of a magnetic anomaly at depth but did not reach the target depth. The Company has also received approval for a potential fifth drill site which would target both high magnetics and chargeability at depth. A suite of samples for petrographic analysis has been assembled. The Company’s current plan for the Paradise Project is to review all information and receive the results of the petrographic survey prior to deciding how to conduct a potential follow up round of drilling in 2026. In general, the Company interprets the results to be indicative of a large porphyry system with broad zones of propylitic, phyllic and advanced argillic alteration observed both in drilling and surface mapping; however, drilling to date has not yet been successful in cutting into the core of the system.