Almadex Provides Corporate Update
NEWS RELEASE
March 14, 2024
Trading Symbols:
TSX-V: DEX
www.almadexminerals.com
Almadex Provides Corporate Update
VANCOUVER, B.C. Almadex Minerals Ltd. ("Almadex" or the "Company") (TSX-V: “DEX”) is providing an
update regarding its Request for Consultations delivered to the United Mexican States (“Mexico”, see press
release dated December 14, 2023).
As previously reported, on December 13, 2023, Almadex delivered to Mexico a written Request for
Consultations in accordance with Article 9.18 of the Comprehensive and Progressive Agreement for Trans-
Pacific Partnership (“CPTPP”), setting out a brief description of facts regarding the measures at issue. On
December 29, 2023, Mexico acknowledged receipt of that Request and stated that it would propose dates
for a consultation meeting in the near future, but never reverted with proposed dates, leaving the dispute
unresolved.
Accordingly, on March 14, 2024, Almadex delivered to Mexico written notice of its intention to submit a
claim (“Claim”) to arbitration against Mexico (the “Notice”) in accordance with Article 9.19.3 of the CPTPP.
This Notice has been delivered by Almadex together with Almaden Minerals Ltd., on behalf of themselves
and their Mexican subsidiaries.
Amongst other things, the Notice sets out the factual background of the dispute as well as the legal basis
of the resulting Claim, the provisions of the CPTPP that Mexico has breached, and the relief sought. The
damages relating to the Almadex and Almade n Claim will be for no less than US$ 200 million, in the
aggregate. Almadex would be entitled to damages relating to its 2.0% NSR royalty on the Ixtaca project , if
damages were to be awarded.
The Notice enables the Company to initiate arbitration should an amicable resolution of the dispute with the
Mexican government not be reached. The filing of the Notice must precede initiation of arbitration by a
minimum of 90 days.
In good faith and in the spirit of cooperation, Almadex invites Mexico once again to engage in discussions
and negotiations with a view to achieving an amicable resolution of the dispute. If such consultations with
Mexico are unsuccessful, Almadex may then submit the Claim to arbitration under the CPTPP, seeking
damages for the harm incurred, plus interest, costs, and any such further relief as a Tribunal may deem
appropriate.
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 in it, 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 and nature of any future consultation, negotiations or settlement between the Almadex
and Mexico, whether the Company pursues claims before an arbitral tribunal, and the timing, result and damages of such claims
before an arbitral tribunal. 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 under the CPTPP; stability and predictability in the application of the CPTPP and arbitral decisions
thereon; continued respect for the rule of law in Mexico; 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.
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:
Mexico’s consultation process under the CPTPP; the application of the CPTPP and arbitral decisions thereon; continued respect for
the rule of law in Mexico; political risk in Mexico; crime and violence in Mexico; corruption in Mexico; environmental risks, including
environmental matters under Mexican laws and regulations; impact of environmental impact assessment requi rements on the
Company’s planned exploration and development activities; certainty of mineral title and the outcome of consultation, litigat ion and
arbitration; 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. Although the Company has attempted to identify important factors
that could affect the Company and may cause actual actions, events or results to diffe r 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 forwa rd-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:
Almadex Minerals Ltd.
Tel. 604.689.7644
Email: [email protected]
http://www.almadexminerals.com/