Almaden Announces Receipt of Notification of NYSE American Listing Deficiency
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NEWS RELEASE
April 21, 2023
Trading Symbols:
TSX: AMM; NYSE American: AAU
www.almadenminerals.com
Almaden Announces Receipt of Notification of NYSE American Listing Deficiency
Vancouver, B.C. Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU)
announces that it has received a notification letter (“Letter”) from NYSE American LLC (“NYSE American”) stating
that Almaden is not in compliance with the continued listing standards because the Company’s securities have
been selling for a low price per share for a substantial period of time which NYSE American determine s to be a
30-trading-day average price of less than US$0.20 per share . Pursuant to Section 1003(f)(v) of the NYSE
American Company Guide, the NYSE American staff determined that the Company’s continued listing is
predicated on it effecting a reverse stock split of its common stock or otherwise demonstrating sustain ed price
improvement within a reasonable period of time which the staff determined to be no later than October 19, 2023.
The Letter has no immediate effect on the listing or trading of the Company’s common stock , which will continue
to trade on the NYSE American under the symbol “AAU”. The Letter and NYSE American non -compliance also
have no impact on the continued trading of the Company’s common stock on the Toronto Stock Exchange under
the symbol “AMM”. The Company’s receipt of the Letter does not affect the Company’s business, financial
condition, operations or reportin g requirements with the Securities Exchange . Almaden is considering its
alternatives with respect to the requirement that it regain compliance with the NYSE American’s continued listing
standards with the cure period.
About Almaden
Almaden Minerals Ltd. discovered the Ixtaca project in Puebla State, Mexico, in 2010. Almaden’s interest in the
Ixtaca project is 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.
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
Company’s continued trading on the NYSE American and Toronto Stock Exchanges, the length of the cure period, and the
Company’s ability to consider and pursue alternatives that would allow it to regain compliance with the NYSE American
continued listing standards.
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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 significan t 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
consultation process with indigenous communities and judicial decisions thereon; stability and predictability in Mexico’s 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 t itle 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 Compa ny 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: Mexico’s consultation process with indigenous communities and potential litigation in respect
thereof; 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 requirement s 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 existin g 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: [email protected]
http://www.almadenminerals.com/