Almadex Discusses Exploration Plans for 2026
Almadex Discusses Exploration Plans for 2026
VANCOUVER, British Columbia, Jan. 23, 2026 -- Almadex Minerals Ltd. ("Almadex" or the "Company") (TSX-V: “DEX”) is
pleased to discuss the Company’s 2025 exploration program and its plans for 2026. While the Company holds important
assets in Canada such as the Logan Zn-Ag project (see Almadex news release of July 25, 2025), its current exploration efforts
are focussed on precious and base metals in the western USA. A large amount of successful generative work was completed
in 2025 resulting in several new early-stage project acquisitions. At the same time the Company’s existing exploration project
portfolio was significantly advanced.
The Company anticipates that 2026 will be a significant year, with first pass drilling programs being planned for several
projects within its portfolio. The Company is fortunate to have in-house drilling capacity, with six Company owned drills, which
it will use to carry out first pass discovery-oriented drilling on its own projects. The Company also anticipates conducting
contract drilling during the year, which has the potential to generate income to offset the Company’s exploration expenditures.
A more thorough description of the 2025 work and the plans for 2026 are outlined below with the following key takeaways:
• Almadex is led by a dedicated technical team that has made several discoveries on projects acquired through
committed and inspired generative exploration programs;
• The Company has a full portfolio of exciting recently acquired early-stage projects. Drilling to test this portfolio will
commence in 2026;
• We are focussed on large targets: porphyry copper-gold and epithermal gold-silver systems in the western USA and
have developed a proprietary model for seeking magmatism related to these systems;
• Almadex is well funded to carry out generative and first pass drilling programs on its own projects. 2025 was a
transitional year for generative work and non-dilutive growth in working capital (see Almadex news release of May 22,
2025);
• The Company can conduct flexible and inexpensive in-house drilling with its dynamic diamond drilling capacity.
Summary of 2025 Work Program
In 2025, the Company continued its generative exploration efforts resulting in the acquisition of several new epithermal gold-
silver and porphyry lithocap exploration projects as well as a project prospective for rare earth elements (see Almadex new
releases of April 9 th, May 28 th, June 4 th, August 5 th and October 9 th 2025). Three projects were optioned in 2025 to Azucar
Minerals Ltd. (see Almadex news release of October 3 rd, 2025) and two campaigns of scout drilling were carried out at the
Company’s legacy Paradise project which covers a large porphyry lithocap alteration system in Nevada. All data and analysis
have been received and completed from the final Paradise drilling program which stopped early due to losing the final drill hole
(see Almadex news release of November 7 th). As previously announced, porphyry alteration was encountered with related
brecciation and weak mineralisation (see Almadex new release of September 26 th, 2025), however no firm vectors were
generated from this work. While the Company is considering the next steps for the Paradise project, first pass drilling efforts
shifted to the Company’s New Hope porphyry prospect in Arizona, where drilling commenced in late 2025 prior to the
Christmas break (see news release of December 15 th, 2025). In 2025, exploration work was conducted on several projects in
the portfolio to advance them towards drill permitting. Focussed activities, including surface prospecting, mapping and IP
geophysics, were carried out at the Company’s Ruby Hill, County Line, Silverton South, Big Sky and Red Antler epithermal
gold-silver projects, and the New Hope and King porphyry copper-gold projects. Results have and are being compiled and
interpreted for the preparation and submittal of permit applications for first pass drilling as soon as possible.
Exploration Plans for 2026
While generative efforts will continue along with project level work, which has already commenced, the focus of the Company’s
2026 exploration program will be first pass drilling on as many projects as possible. To begin with, drilling is anticipated to re-
commence in the coming days at the New Hope porphyry prospect in Arizona where mapped veining at surface and an IP
chargeability feature has helped define an exciting porphyry target (see Almadex release of November 7 th and December
15th,2025). The Company’s initial exploratory drill program began in December 2025. Beyond this New Hope program, the
sequence of drilling and timing are dependent on results, logistics and other factors, and are subject to short notice change.
At this time the Company hopes to do drilling and or conduct focussed exploration on the following highlighted projects:
Ruby Hill Epithermal Silver-Gold Project, Nevada
The Ruby Hill epithermal silver-gold project covers an area of epithermal quartz veining hosted in altered volcanic rocks. In
2025 the Company announced the results of 59 grab rock samples taken from outcrop and float of veining and silicified rhyolite
(grab samples are selected samples and may not represent true underlying mineralisation). These preliminary results were
very encouraging (see Almadex news release of June 4 th 2025) as 12 of these samples returned over 25 g/t silver with 7
returning more than 100 g/t silver (up to 992 g/t silver and averaging 45 g/t silver for all 59). Important gold values were also
returned as 17 of these samples returned over 0.1 g/t gold (up to 0.94 g/t gold and averaging 0.10 g/t gold for all 59). The
Company has carried out further mapping and IP geophysical surveying which has highlighted several zones of parallel veining.
The Company will be submitting notices to the BLM in order to conduct a drilling program on Ruby Hill.
Red Antler Epithermal Silver-Gold Project, Utah
The Red Antler property covers an area of altered rhyolitic volcanics crosscut by quartz veining. Surface work to date has
identified epithermal veining over a 2 by 1 km area. Vein textures are typical of very high levels in a low sulphidation epithermal
environment including fine textured colloform banded quartz. In 2025 the results of 34 grab rock samples taken from outcrop
and float of veining (grab samples are selected samples and may not represent true underlying mineralisation). These
preliminary results were very encouraging (see Almadex news release of August 5 th, 2025) considering the interpretation of a
high level of preservation of the epithermal system as 12 of these samples returned over 1 g/t silver (up to 24 g/t silver and
averaging 1.4 g/t silver for all 34). An IP geophysical survey line outlined potential vein features including zones of high
resistivity and chargeability. The Company will be submitting notices to the BLM in order to conduct a drilling program on Red
Antler.
King Porphyry-Epithermal Gold-Copper Project, Colorado
The King project is located in south-central Colorado and covers an area of intense porphyry lithocap and high sulphidation
alteration developed in volcanic rocks. This area has seen historic mining for turquoise. In 2024 and 2025 geologic and
alteration mapping was conducted as well as rock and soil sampling, and IP geophysical surveying. The mapping identified
silicification and quartz-alunite alteration over a roughly 3 by 3 km area within which several strong Mo-Cu-Au anomalies were
defined. IP geophysics has highlighted a broad area of elevated chargeability. The Company has filed a notice to conduct
drilling in an area of the project where filing a notice is applicable.
Big Sky Epithermal Gold-Silver Project, New Mexico
The Big Sky high sulphidation epithermal gold-silver project is located in western New Mexico and covers an area of advanced
argillic alteration and silicification hosted in rhyolite volcanics. In 2025 Almadex announced (see Almadex release of April 9 th,
2025) the results from 57 grab rock samples taken from outcrop and subcrop (grab samples are selected samples and may
not represent true underlying mineralisation). These preliminary results were very encouraging as 19 of these samples returned
over 0.1 g/t gold with 4 returning more than 1 g/t gold (up to 3.5 g/t gold and averaging 0.26 g/t gold for all 57). The better
values were returned from zones of brecciation that are part of several parallel quartz-alunite ridges that have been identified in
the preliminary work. Soil sampling showed elevated gold and epithermal suite elements in proximity to the gold in rock
results, and together these results helped define a broad area of prospectivity surrounding the outcrops mapped to date.
Almadex plans a near term IP survey over the project area to help finalise targets for permitting purposes and possible drill
testing in 2026.
Rattlesnake Porphyry-Epithermal Project, Arizona
The Rattlesnake Property is a newly acquired porphyry lithocap project. Advanced argillic alteration has been mapped in
volcanics along with zones of crosscutting altered dykes. Stockwork and silver-lead-zinc bearing quartz-calcite veining is
associated with the dyke zones while elevated copper is associated with the quartz-alunite altered ribs. On October 9th
Almadex discussed in a news release preliminary assay results for rock samples collected on the Property. The results from
the preliminary sampling were very encouraging and support the interpretation that the Rattlesnake property represents a
preserved porphyry lithocap environment. The Company plans to initiate soil sampling and IP geophysics on the project in
early 2026.
The Company looks forward to reporting results from this year’s work plan as it progresses throughout 2026.
Qualified Persons
Morgan J Poliquin, PhD, PEng, the President and CEO of Almadex and a Qualified Person as defined by National Instrument
43-101 ("NI 43-101"), has reviewed and approved the scientific and technical contents of this news release.
The grab samples reported in this news release were taken from outcrop, subcrop and float. Grab samples are selected
samples and may not represent true underlying mineralisation. The analyses reported were carried out at ALS Chemex
Laboratories of Reno, Tucson and North Vancouver using industry standard analytical techniques. For gold, samples are first
analysed by fire assay and atomic absorption spectroscopy (“AAS”). Samples that return values greater than 10 g/t gold using
this technique are then re analysed by fire assay but with a gravimetric finish. For copper and silver, samples are first analysed
by Inductively Coupled Plasma – Atomic Emission Spectroscopy (“ICP-AES”), with four acid digestion. Samples that return
values greater than 10,000 ppm copper and 100 ppm silver using this technique are then re-analysed by HF-HNO3-HCLO4
digestion with HCL leach and ICP-AES finish. Samples that return silver values greater than 1,500 ppm are further analysed by
fire assay with a gravimetric finish.
About Almadex
Almadex Minerals Ltd. is an exploration company that holds a large mineral portfolio consisting of projects and NSR royalties
in Canada, the U.S., and Mexico. This portfolio is the direct result of many years of prospecting and deal-making by
Almadex's management team. The Company owns several portable diamond drill rigs, enabling it to conduct cost effective first
pass exploration drilling in house.
On behalf of the Board of Directors,
“J. Duane Poliquin”
J. Duane Poliquin, Chairman
Almadex Minerals Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking
statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to
be considered forward looking. Forward-looking statements in this news release include, among other things, exploration and
drilling plans and timing of the New Hope exploration drilling program, and any further work to advance exploration targets at
the Ruby Hill, Red Antler, King, Big Sky and Rattlesnake projects. Although the Company believes the expectations
expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ materially from those in forward-looking statements. Factors
that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation
and exploration successes, permitting, continued availability of capital and financing, equipment availability and general
economic, market or business conditions. The foregoing list of assumptions is not exhaustive. There can be no assurances
that forward-looking statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such
uncertainties. The Company does not assume any obligation to update any forward-looking statements, other than as required
pursuant to applicable securities laws. This news release also does not constitute an offer to sell or a solicitation of an offer to
sell any securities in the United States. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold
within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities
laws or an exemption from such registration is available.
Contact Information:
Almadex Minerals Ltd.
Tel. 604.689.7644
Email: [email protected]
http://www.almadexminerals.com/