Almaden Reports on Mexican Supreme Court Decision Regarding Mexican Mineral Title Law and Company Mineral Claims
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NEWS RELEASE
February 17, 2022
Trading Symbols:
TSX: AMM; NYSE American: AAU
www.almadenminerals.com
Almaden Reports on Mexican Supreme Court Decision Regarding Mexican Mineral
Title Law and Company Mineral Claims
Vancouver, B.C. Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU)
reports that yesterday the Supreme Court of Justice of Mexico (“SCJN”) reached a decision in respect of the
mineral title lawsuit involving the Company’s mineral claims.
As previously reported, Almaden’s mineral claims are the basis of a lawsuit against the Mexican government
(President, Congress, Ministry of Economy, Directorate of Mines, Mining Registry Office) asserting that the
Mexican mining law is unconstitutional. In April 2019, a lower court in Puebla State issued a decision that Mexico’s
mining law is unconstitutional because it fails to include provisions requiring consultation of indigenous
communities before the granting of a mineral title. The lawsuit use s the Company’s mineral claims to make the
argument. For more background see the Company’s press releases of April 14, 2021, February 27, 2020 , and
April 15, 2019.
Almaden has reviewed a draft of yesterday’s SCJN decision. As it stands, the draft decision determines that the
Mexican mineral title law is constitutional, but that before issuing Almaden’s mineral titles , the Ministry of the
Economy should have provided for a consultation procedure with relevant indigenous communit ies. The draft
orders the Ministry of the Economy to declare Almaden’s mineral titles ineffective and to re-issue them following
the Ministry’s compliance with its obligation to carry out the necessary procedures to consult with indigenous
communities. The final decision of the SCJN may be modified and differ from the draft described above. The
decision will take effect at the time of official notification of the decision to the Company which is expected within
the next two months.
Almaden intends to review th e final decision when it is available and interact with Mexican government officials
and local community officials in order to fully understand the impact of this decision on the Company’s mineral
claims prior to determining its next steps. At present there is no timeline for consultation by the Ministry of the
Economy with indigenous communities.
About Almaden
Almaden Minerals Ltd. owns 100% of the Ixtaca project in Puebla S tate, 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
Chairman
Almaden Minerals Ltd.
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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
timing of the official notification of the decision to the Company, whether the final decision of the SCJN will be modified and
differ from the draft, the nature of any such modifications, the timing and procedures for any consultation by the Ministry of the
Economy with indigenous communities and the timing and procedures for the Ministry of the Economy to re-issue mineral titles
to Almaden.
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 ser vices (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 necessa ry 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 info rmation 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 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: [email protected]
http://www.almadenminerals.com/