Almadex Provides Paradise Drilling Update and Discusses Davis High Grade Gold and Silver Targets
NEWS RELE
ASE
September 26th, 2025
Trading Symbols: TSX-V: DEX
www.almadexminerals.com
Almadex Provides Paradise Drilling Update
and Discusses Davis High Grade Gold and Silver Targets
VANCOUVER, B.C. Almadex Mineral s Ltd. ("Almadex" or the "Compan y") (TSX-V: “DEX”) is pleased to
provide a review of past and current exploration activity at th e Davis and Paradise Projects, Nevada. In
2019, Almadex consolidated the Davis-Paradise Valley area by op tioning the Davis property from the
underlying owners. The Davis claims adjoin the Paradise Valley property which had been staked by
Almadex. The property now compri ses 358 claims totalling approx imately 2,800 hectares with multiple
targets, located approximately eight miles southeast of Gabbs, Nevada and five miles northeast of the
Paradise Peak gold mine.
The Company has a large portfolio of recently acquired explorat ion projects in the western USA that are
prospective for porphyry copper-gold and epithermal gold-silver mineralisation. The in-house approach to
acquire these targets includes focussing on zones of exposed advanced argillic alteration in and along very
specific geologic regions and trends the Company has defined as prospective using proprietary tools.
Mapping these alteration zones mineralogically defines whether or not they represent the upper portions of
a porphyry copper-gold system and worthy of acquisition. Porphyry deposits are amongst the largest class
of mineral deposit for their global endowment of metals like copper, gold and molybdenum and as such the
earth has been scoured for near surface deposits of this type. Future exploration will require deep
exploration. Exploring in the upper, often barren, tops of porphyry systems in the last decade has shown to
have revealed large discoveries globally. Almadex’s team is focussed on such exploration for buried
deposits in the western USA and over three years has assembled this important exploration portfolio of
porphyry lithocap alteration zones. The Company is financed to conduct first pass drilling and plans to
systematically carry out vector type drill programs over each o f its projects. These drill programs are
designed to test these projects for mineralisation, and as such are discovery oriented. But these scout
drilling programs are intended to provide important early-stage three-dimensional geological information
and a vector for future drilling on each project as well as pri oritise the property portfolio. Such drilling is
underway at the Paradise porphyry lithocap project, progress from which is discussed below. A review of
some of the targets defined at the Paradise Project and the adjoining Davis Project is also provided below
along with a map showing data discussed in this release from both projects.
Paradise Drilling Activities
Almadex has completed the drilling of a third hole at the Paradise porphyry lithocap exploration target and
will shortly commence a fourth hole in this 2025 vectoring drill campaign. All four holes in this 2025 program
were planned in different parts of this large (currently mapped at 4.5 by 1.8 km) alteration zone. The
program was designed to test different parts of the lithocap where high temperature alteration, high
chargeability and magnetic features have been mapped in previou s geophysical, geochemical and
geological programs conducted by the Company. Assays from the first two holes in the program have now
been received. The second hole in the program (PD-25-002) hit z ones of elevated gold and base metal
sulphide veining including highly altered volcanic rock. Highlights of these results include:
From 33.00 to 36.50 (3.50 metres) 0.37 g/t gold
From 135.65 to 136.60 (0.95 metres) 23.10 g/t silver 0.15% copper, 1.58% Lead, 1.09% Zinc
From 139.00 to 139.55 (0.55 metres) 28.10 g/t silver 0.44% copper, 2.84% Lead, 1.24% Zinc
From 177.55 to 178.70 (1.15 metres) 7.70 g/t silver 0.02% copper, 1.43% Lead, 1.56% Zinc
From 189.00 to 213.10 (24.10 metres) 3.21 g/t silver 0.03% copper, 0.36% Lead, 0.53% Zinc
Including 208.50 to 210.00 (1.50 metres) 11.80 g/t silver 0.08% copper, 1.53% Lead, 1.52% Zinc
The Company considers this mineralisation to be part of the broader porphyry system and an important
indication that the Paradise lithocap is metal endowed. When complete results are received from the
remaining holes in the program and have been interpreted, the Company will provide a further update along
with an interpretation of the program.
Davis Project High Grade Gold-Silver Targets
The adjacent Davis epithermal gold-silver project covers a number of zones of veining and epithermal
mineralisation. Mapping and sampling has broadly identified two styles of veining; classic banded low
sulphidation veining associated with high level near surface epithermal alt eration including sinter and
hydrothermal breccias, and intermediate sulphidation style veining with gold, silver and some base metal
enrichment. The Company has recently reviewed the historic data it has gathered which has highlighted
several areas for immediate follow up. In 2024, Almadex drilled a hole in the northern part of the Property
designed to test under an area of sinter float boulders and banded epithermal veins at surface in volcanics,
but the hole was abandoned after encountering faulting and older metasediments (see Almadex news
release of December 2nd, 2024). Subsequently the Company carried out an IP geophysical survey which
identified a chargeability feature spatially associated with the older metasediments and with high grade
grab samples taken from surface reported previously (see Almadex news release of September 22, 2022)
including 18.5 and 36.3 g/t gold). The coincident IP anomaly and surface veining make this area a priority
for follow up mapping to better understand the IP anomaly and if it relates to the high-grade surface
samples. This zone is roughly 540 metres north of where in 2022 Almadex drilled two holes on a section
beneath the Davis vein zone and historic mine. Highlights from this drill program included 0.80 metres of
17.1 g/t gold and 10.3 g/t silver, 1.70 metres of 11.8 g/t gold and 68.2 g/t silver and 13.70 metres of 2.3 g/t
gold and 24.1 g/t silver in the top hole (DP-22-001) and 2.10 metres of 5.7 g/t gold and 22.3 g/t silver and
6.65 metres of 1.9 g/t gold and 11.9 g/t silver in the deeper hole (DP-22-002; see Almadex news release of
July 15, 2022).
Roughly three kilometres to the southwest, at the Peppercorn sh owing chip samples returned 0.4 metres
of 1.9 g/t gold and 1330 g/t silver, 0.2 metres of 2.0 g/t gold and 415 g/t silver and a grab sample returned
6.0 g/t gold and 2410 g/t silver. All samples were collected fr om historic workings in 2022 (s ee Almadex
news release of September 22, 2022). Similarly at the Twin Shaft showing grab samples taken in 2022
returned 38 g/t gold and 261 g/t silver, 9.9 g/t gold and 64.3 g/t silver, 5.2 g/t gold and 122 g/t silver, and
3.5 g/t gold and 35.1 g/t s ilver. Both these areas and others highlight the multi target nature of this
Project.
J Duane Poliquin, Chairman of Almadex, commented, “We look forward to receiving all results from
this Paradise vectoring drill program. In the meantime, we are pleased to provide this review of some
of the targets at the Davis Project. We are contemplating next steps for Davis and will make plans on
how to advance the Project either ourselves or by seeking a partner.”
About Lithocap Alteration Zones and the Paradise Lithocap
Lithocaps are extensive areas of hydrothermally altered rocks that occur above or adjacent to
intrusive rocks and related porphyry deposits. The hydrothermal alteration forms when ascending high
temperature magmatic fluids are released from the source intrusion below and alter permeable and
reactive rocks occurring above. Lithocaps can be over 10 by 10 km in surface area and over 1 km
thick. The alteration mineral assemblages vary, usually with distance from the intrusive source. Often
more neutral and higher temperature stable alteration mineral assemblages are seen at depth, closer to
the source intrusion and potential porphyry deposit. More acidic and lower temperature stable
assemblages generally occur higher and farther away. Mapping of alteration minerals and geochemical
analysis using soil and rock samples can map these changes in mineralogy. This mapping can then
provide a vector towards potential underlying porphyry systems. If large areas of lithocap alteration are well
preserved, they can obscure deep unexposed porphyries and other styles of mineralisation. If no
mineralisation is present at surface, drilling based on geochemical and alteration vectors aided by
geophysical data is the best way to explore for buried deposits.
The 1,547 hectare Paradise property covers a roughly 4.5 by 1.8 kilometre area of exposed
intense hydrothermal alteration developed in volcanic rocks. This alteration zone which includes
quartz-alunite, pyrophyllite and diaspore is typical of high-sulphidation environments forming above
porphyry copper-gold systems. The alteration has been mapped by Almadex using a Terraspec infrared
spectrometer. This work,
using rock chip spectral data points has defined a well-preserved porphyry lithocap with alunite core zones
(with increasing Na-composition) haloed by pyrophyllite, dickit e then hypogene kaolinite. Surrounding the
acid sulphate zones are halos of sporadic paragonitic illite (grading to dominant muscovitic alteration) with
chlorite in peripheral alteration halos (propylitic).
About the Davis Property Option
The Company acquired an option to purchase 100% (subject to roy alty provisions) of the Davis project
which is comprised of 163 claims. The attached map shows the Da vis Option area and the Company’s
wholly owned Paradise claims.
Qualified Persons and Technical Details
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 2022 rock chip samples and 2022 Davis drill program were taken and conducted
under the supervision of Jocelyn Pelletier, P.Geo. a Qualified Person as defined by National Instrument 43-
101 ("NI 43-101") as described in the Company’s news release of September 22, 2022). A total of 119
surface rock grab and chip samples were taken over the project in May and June of 2022 from which the
highlighted results were taken. These samples averaged 2.2 g/t gold and 84.2 g/t silver. The chip samples
ranged in width from 0.05 to 2.0 metres in width. The chip and grab samples were taken to better understand
the distribution of and to characterise mineralisation on the Property and as such may not be representative.
True widths for surface sample intervals reported cannot be det ermined at this time. The estimated true
widths for the Davis drilling intercepts are approximately 73% of the core intersections for hole DP-22-001
and 67% for DP-22-002. True widths are not possible to calculat e at this time for the Paradise intercepts
described as they occur in zones of complex veining and brecciation. The analyses reported from Almadex
sampling both new and historic were carried out at ALS Chemex L aboratories using industry standard
analytical techniques. For gold, samples are first analysed by f i r e a s s a y a n d a t o m i c a b s o r p t i o n
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. Silver is first analysed by Inductively Coupled Plasma
- Atomic Emission Spectroscopy (“ICP-AES”). Samples that retur n values greater than 100 g/t silver by
ICP-AES are then re-analysed by HF- HNO3-HCLO4 digestion with HC L leach and ICP-AES finish. For
copper, lead and zinc, samples are first analysed by Inductivel y Coupled Plasma – Atomic Emission
Spectroscopy (“ICP-AES”), with four acid digestion. Samples that return values greater than 10000 g/t using
this technique are then re-analysed by HF-HNO3-HCLO4 digestion with HCL leach and ICP-AES finish.
Blanks, field duplicates and certified standards were inserted into the sample stream as part of Almadex’s
quality assurance and control program which complies with National Instrument 43-101 requirements. The
IP geophysical lines were surveyed using the Company’s highly experienced in-house team and equipment,
a 5 kW GDD transmitter and Iris Elrec-6 receivers generally using a 100 m dipole in a pole-dipole array on
8 levels. Pseudo sections were prepared, and the data was inverted using RES2DINV software.
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 portfol io is the direct result of many years of
prospecting and deal-making by Almadex's management team. The C ompany 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,
“Morgan J. Poliquin”
Morgan J. Poliquin, PhD, PEng
President and CEO
Almadex Minerals Ltd.
Neither the TSX Venture Exchange nor its Regul ation 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, ot her than
statements of historical fact, are to be c onsidered forward looking. Fo rward-looking statements in this news release include, a mong
other things, the potential acquisition of new projects any further work to advance exploration targets at the Paradise, Davis projects
and any others, including any drilling. 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 fr om those
in forward-looking statements include mark et prices, exploitation and exploration su ccesses, 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.
Contact Information:
Almadex Minerals Ltd.
Tel. 604.689.7644
Email: [email protected]
http://www.almadexminerals.com/