Almaden Announces Results of Annual General Meeting; Provides Update on Ixtaca Project
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NEWS RELEASE
June 27, 2019
Trading Symbols:
TSX: AMM; NYSE American: AAU
www.almadenminerals.com
Almaden Announces Results of Annual General Meeting;
Provides Update on Ixtaca Project
VANCOUVER, B.C. Almaden Minerals Ltd. (“Almaden" or the "Company"; TSX: AMM; NYSE American: AAU) is
pleased to provide the results of its Annual General Meeting (“AGM”) held on June 2 6, 201 9, and to update
progress at the Ixtaca Project.
2019 AGM
All of the matters submitted to the shareholders for approval as set out in the Company's Notice of Meeting and
Information Circular were approved by the requisite majority of votes cast at the AGM.
The details of the voting results for the election of directors are set out below:
Nominee Votes For Votes Withheld
Duane Poliquin 35,782,522 (85.67%) 5,984,576 (14.33%)
Morgan Poliquin 35,781,222 (85.67%) 5,985,876 (14.33%)
Gerald G. Carlson 35,775,422 (85.65%) 5,991,676 (14.35%)
John (Jack) McCleary 35,805,997 (85.73%) 5,961,101 (14.27%)
Elaine Ellingham 41,343,481 (98.99%) 423,617 (1.01%)
Mark T. Brown 33,033,059 (79.09%) 8,734,039 (20.91%)
William J. Worrall 35,764,653 (85.63%) 6,002,445 (14.37%)
A total of 73,753,595 common shares, representing 66.01% of the votes attached to all outstanding shares as at
the record date for the Meeting, were represented at the AGM.
Shareholders also voted 98.85% in favour of appointing Davidson & Company LLP as auditors of the Company
for the ensuing year.
Final results for all matters voted on at the AGM will be filed on SEDAR at www.sedar.com, on EDGAR at
www.sec.gov/edgar.shtml, and on the Company's website.
Ixtaca Project Update - Permitting
As noted previously, Almaden’s current focus at Ixtaca relates to permitting and project financing activities.
Review by Mexican authorities of Almaden’s environmental permit application ( Manifestación de Impacto
Ambiental, or “MIA”) continues in the normal course, and recently SEMARNAT, Mexico’s environmental
authority, completed its public information meeting in the town of Santa Maria. Key aspects of th e Ixtaca project
which were addressed during this technical meeting include the following:
The mine plan avoids existing local domestic water sources;
Mine processing plant water needs are met by collecting and storing runoff water;
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Local water resources are currently underutilized. Rainfall in the Ixtaca project vicinity falls primarily
during a relatively short rainy season , and w ith no local water storage facilities in the project area the
flash flows of water are lost to communities;
The Ixtaca project development plan includes a new water storage reservoir that, based on current
water balance planning, could enhance community water by adding more than 2,000 m 3 per day of
water supply for community use;
The water storage reservoir is being engineered as a permanent structure to serve the local area after
mine closure;
The use of a dry-stack tailings facility which would include co -disposal of waste with filtered tailings, use
much less water than traditional slurry facilities, reduce the mine footprint, allow for better dust control,
and enable earlier rehabilitation of the tailings and waste rock disposal areas;
Extensive geochemical studies have evaluated the potential for acid rock drainage and metal leaching
from the waste rock and tailings, and the se studies have consistently shown that there is more than
enough neutralising potential present in the waste rock to neutralise any acid generated ;
Ixtaca ore is very well suited to x -ray ore-sorting which will reduce process tailings, process water
usage, process energy requirements, and CO2 emissions.
This meeting was very well attended by local people. Almaden looks forward to the next steps in the MIA
process and anticipates receiving the MIA permit some time during Q4 2019.
Project Financing
Regarding project financing activities, Almaden is actively engaged in discussions with several potential
financing parties and is encouraged by the level of interest shown in the project. The Company is focused on
identifying a strong partner or partners with whom to advance Ixtaca on a basis which clearly adds value for
shareholders. We look forward to updating shareholders as discussions advance .
Legal Challenge against Government of Mexico
Finally, further to Almaden’s press release of April 15, 2019 regarding a decision by a lower court in Puebla
State concerning Mexico’s mineral title system, Almaden is pleased to note that Mexico’s Federal Congress,
Senate, and Ministry of the Economy each filed appeals against this decision. Almaden has also filed an appeal
against the decision, as an “interested party” in the action.
Duane Poliquin, Chairman of Almaden, stated " Over the past several years we have worked to build a project
with a robust resource, a limited environmental footprint, and a solid base of local community support. We are
optimistic that in the near future we will have a fully permitted project and access to the funding necessary to
commence construction. Once in operation, Ixtaca will be a robust producer of over 170,000 ozs per yea r gold
equivalent, or almost 13 million ozs per year silver equivalent, over an 11 year mine life. Our aim is that Ixtaca
becomes another showcase of how modern mining can deliver positive results for shareholders as wel l as local
communities and host governments. We look forward to working with all groups that share this vision over the
coming months and years.”
Tracey Meintjes, P.Eng., a qualified person (“QP”) under the meaning of NI 43 -101, and Principal of Moose
Mountain Technical Services, reviewed the technical information in this news release.
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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 Gold-Silver Deposit was discovered by Almaden in 2010.
On Behalf of the Board of Directors
“Morgan Poliquin”
Morgan J. Poliquin, Ph.D., P.Eng.
President, CEO and Director
Almaden Minerals Ltd.
Forward Looking Statements
Neither the Toronto Stock Exchange (TSX) nor the NYSE American have reviewed or accepted responsibility for the adequacy or a ccuracy
of the contents of this news release which has be en prepared by management. Statements contained in this news release that are not
historical facts are “forward -looking information” or “forward -looking statements” (collectively, “Forward -Looking Information”) within the
meaning of applicable Canadian sec urities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward
Looking Information includes, but is not limited to, disclosure regarding the outcome of legal actions, disclosure regarding the Ixtaca project
permitting process, and disclosure regarding potential project financing, and is based on assumptions about future economic conditions and
courses of action; the timing and costs of future activities on the Company’s properties, including but not limited to develo pment and
operating costs in the event that a production decision is made; success of exploration, development and environmental protec tion and
remediation activities; permitting time lines and requirements; requirements for additional capital; the potential effect of proposed notices of
environmental conditions relating to mineral claims; planned exploration and development of properties and the results thereo f; planned
expenditures and budgets and the execution thereof. In certain cases, in preparing the For ward-Looking Information in this news release,
the Company has applied several material assumptions, including, but not limited to, that the Government of Mexico will continue to take the
same positions with respect to mineral tenure in any appeal as it did before the lower court, any additional financing needed will be available
on reasonable terms; the exchange rates for the U.S., Canadian, and Mexican currencies will be consistent with the Company’s
expectations; the taxation policies which will apply to the Ixtaca Project will be consistent with the Company’s expectations, that the current
exploration, development, environmental and other objectives concerning the Ixtaca Project can be achieved and that its other corporate
activities will proceed as expe cted; that the current price and demand for gold and silver will be sustained or will improve; that general
business and economic conditions will not change in a materially adverse manner, that third party contractors and equipment, including the
Rock Creek mill, will be available and operate as anticipated, and that all necessary governmental approvals for the planned explorati on,
development and environmental protection activities on the Ixtaca Project will be obtained in a timely manner and on acceptab le terms; the
continuity of the price of gold and silver, economic and political conditions and operations. Forward-Looking Information involves known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or achie vements of the Company to be
materially different from any future results, performance or achievements expressed or implied by the Forward -Looking Information. Such
risks and other factors include, among others, risks related to the availability of financi ng on commercially reasonable terms and the
expected use of proceeds; operations and contractual obligations; changes in exploration programs based upon results of explo ration;
changes in estimated mineral reserves or mineral resources; future prices of me tals; availability of third party contractors; availability of
equipment; failure of equipment to operate as anticipated; failure of the Rock Creek Mill to arrive on site or operate as exp ected; accidents,
effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks,
including environmental matters under Mexican rules and regulations; impact of environmental impact assessment requirements o n the
Company’s planned exploration and develop ment activities on the Ixtaca Project; certainty of mineral title; community relations; delays in
obtaining governmental approvals or financing; fluctuations in mineral prices; the Company’s dependence on one mineral project; the nature
of mineral explorat ion and mining and the uncertain commercial viability of certain mineral deposits; the Company’s lack of operating
revenues; governmental regulations and the ability to obtain necessary licences and permits; risks related to mineral propert ies being
subject to prior unregistered agreements, transfers or claims and other defects in title; currency fluctuations; changes in environ mental laws
and regulations and changes in the application of standards pursuant to existing laws and regulations which may increas e costs of doing
business and restrict operations; risks related to dependence on key personnel; estimates used in financial statements provin g to be
incorrect; as well as those factors discussed the section entitled "Risk Factors" in Almaden's Annual Info rmation 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, e vents or results to differ materially from those
described in Forward -Looking 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 Forward -Looking Information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue relianc e on Forward-
Looking Information. Except as required by law, the Co mpany does not assume any obligation to release publicly any revisions to Forward -
Looking 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/