Almaden Provides Update on Field Activities at the Ixtaca Property

Rhea-AI Summary

Almaden Minerals Ltd. (NYSE American: AAU) has resumed drilling at its Ixtaca project in Mexico after enforcing strict Covid-19 protocols. Despite past cases of Covid-19 within its local staff, including one unfortunate death, the company has been proactive in safety measures, including employee education and community support through health supplies. The Ixtaca project holds significant mineral reserves, with proven and probable reserves of 1.38 million ounces of gold and 85.1 million ounces of silver. The company continues to collaborate with local health authorities to enhance community resilience against the pandemic.

Positive

• Resumption of drilling activities at the Ixtaca project, indicating progress in operations.
• Proven and probable reserves of 1.38 million ounces of gold and 85.1 million ounces of silver, highlighting strong asset value.
• Implementation of stringent Covid-19 protocols to protect employees and local communities.

Negative

• One employee passed away due to Covid-19, raising concerns over health safety.
• Previous detection of Covid-19 cases among staff could impact operational stability.

VANCOUVER, British Columbia, Oct. 05, 2021 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU) reports that it has resumed drilling activities at Ixtaca and takes this opportunity to report further on recent Covid-19 cases and the Company’s related protocols.

Since the onset of the Covid-19 pandemic, all fieldwork at Ixtaca has been conducted in compliance with the directives of the Mexican Institute for Social Security (“IMSS”). In addition to numerous sanitary measures, the Company has established a Covid Committee that meets weekly to assess the Covid-19 situation, ensure commitment to Company protocols, and discuss opportunities for improvement in the protocols. As part of this process, the Company arranged for a five-hour online Covid-19 education training program for each employee, resulting in an IMSS certificate for each employee.  

As reported on September 3, 2021, the Company’s Covid-19 protocols detected several Covid-19 cases amongst members of the Company’s local staff. These people were immediately quarantined and supported by the Company, and one individual was hospitalised. The Company regrets to report that despite all best efforts this individual has subsequently passed away. Almaden sends its deepest condolences to his family and friends. All other employees who initially tested positive for the disease are recovering satisfactorily, and soon will be returning to work.

Almaden has worked to facilitate efforts by employees to attend the national vaccination program and get vaccinated on the day allocated by these authorities. The Company continues to seek opportunities to work with local health authorities in order to help make local communities as resilient as possible in the face of this disease. Last year the Company provided local authorities with 4,000 bottles of alcohol gels and 10,000 masks. More recently, Almaden donated oxygen tanks, an oxygen concentrator and other medical supplies to the local authorities.

About Almaden
Almaden Minerals Ltd. owns 100% of the Ixtaca project in Puebla State, Mexico, subject to a 2.0% NSR royalty held by Almadex Minerals Ltd. The Ixtaca deposit hosts a proven and probable reserve containing 1.38 million ounces of gold and 85.1 million ounces of silver (73.1 million tonnes grading 0.59 g/t Au and 36.3 g/t Ag). A report titled “Ixtaca Gold-Silver Project, Puebla State, Mexico NI 43-101 Technical Report on the Feasibility Study”, which was prepared in accordance with NI 43-101, is available under the Company’s profile on SEDAR and on the Company’s website. The Ixtaca Gold-Silver Deposit was discovered by Almaden in 2010.

On Behalf of the Board of Directors,

“J. Duane Poliquin”        
J. Duane Poliquin, P. Eng
Chairman
Almaden Minerals Ltd.

Forward Looking Statements

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 outcome or nature of any exploration programs at Ixtaca, the ability of the Company to work with local health authorities and the ability of the Company to comply with COVID-19 related health protocols.

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, including 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: the number of COVID-19 cases in the municipality of Ixtacamaxtitlán and within the Company’s local staff; stability and predictability in Mexico’s health, safety, mineral tenure, mining, environmental and agrarian laws and regulations, as well as their application and judicial decisions thereon; continued respect for the rule of law in Mexico; prices for gold, silver and base metals remaining as estimated; currency exchange rates remaining as estimated; availability of funds; capital, decommissioning and reclamation estimates; mineral reserve and resource estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; all necessary permits, licenses and regulatory approvals being received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; community support in the Ixtaca Project; and the ability to comply with environmental, health and safety laws. 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: access to healthcare and rates of COVID-19 vaccination in Mexico; political risk in Mexico; crime and violence in Mexico; corruption; environmental risks, including environmental matters under Mexican laws and regulations; impact of environmental impact assessment requirements on the Company’s planned exploration and development activities on the Ixtaca Project; certainty of mineral title and the outcome of litigation; community relations; governmental regulations and the ability to obtain necessary licences and permits; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title; changes in mining, environmental or agrarian laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations; 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@almadenminerals.com 
http://www.almadenminerals.com/ 

FAQ

What is the current status of Almaden Minerals Ltd.'s drilling activities?

Almaden Minerals Ltd. has resumed drilling at its Ixtaca project as of October 2021.

What safety measures has Almaden implemented for Covid-19?

The company has established stringent Covid-19 protocols, including weekly assessments and employee education programs.

How many Covid-19 cases were reported among Almaden employees?

Several Covid-19 cases were detected, with one unfortunate death reported.

What are the mineral reserves at the Ixtaca project?

The Ixtaca project has proven and probable reserves of 1.38 million ounces of gold and 85.1 million ounces of silver.

How is Almaden supporting local health efforts during the pandemic?

Almaden has provided health supplies, including 4,000 bottles of alcohol gels and 10,000 masks, to local authorities.