Almadex Hits 342.00 Meters of 0.60 G/T GOLD and 0.27% Copper Including 193.30 Meters of 0.93 G/T GOLD and 0.38% Copper and 114.60 Meters of 1.33 G/T GOLD and 0.48% Copper IN Hole EC-17-018 at the Norte Zone
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NEWS RELEASE
April 5, 2017
Trading Symbols:
TSX-V: AMZ; OTCQB: AXDDF
www.almadexminerals.com
ALMADEX HITS 342.00 METERS OF 0.60 G/T GOLD AND 0.27% COPPER
INCLUDING 193.30 METERS OF 0.93 G/T GOLD AND 0.38% COPPER
AND 114.60 METERS OF 1.33 G/T GOLD AND 0.48% COPPER
IN HOLE EC-17-018 AT THE NORTE ZONE
VANCOUVER, B.C. Almadex Minerals Limited ("Almadex" or the "Company") (TSX-V: AMZ; OTCQB: AXDDF) is
pleased to announce it has received assay results from the first hole of the 2017 El Norte drilling program, EC-17-
018, drilled from the same pad as the previously announced holes EC-16-010, 012, 013, 014, 016 and 017, but at an
azimuth of 180 degrees and a dip of -30. Hole EC-17-018, like the previous holes drilled from this pad, intersected
significant miner alisation from the collar . Hole EC -17-018 represents a significant up dip step out and intercepted
mineralisation up to 200 meters vertically above that in hole EC -16-010 which was drilled at -5 5, beneath. Highlights
from hole EC-17-018 include the following intercepts which are also shown on the attached plan and section:
Hole EC-17-018 NORTE ZONE, 180 Az, -30 dip
From 20.00 to 362.00, 342.00 meters @ 0.60 g/t gold and 0.27% copper
Including 166.10 to 359.40, 193.30 meters @ 0.93 g/t gold and 0.38% copper
Including 222.40 to 337.00, 114.60 meters @ 1.33 g/t gold and 0.48% copper
J. Duane Poliquin, Chairman of Almade x commented, “After our discovery in 2016, we are carrying out a systematic
drill campaign to follow-up these results in the Norte zone. Elsewhere on the project we are conducting mapping and
sampling preparatory to drilling other zones. This work al ready has defined previously unknown minerali sation in the
Villa Rica zone. We look forward reporting further results in the coming weeks and months as the programs
progress.”
About the El Cobre Project
The El Cobre Project has a total area of 7,456 hectares and is located adjacent to the Gulf of Mexico, about 75
kilometres northwest of the major port city of Veracruz, Mexico and has uniquely excellent infrastructure . The project
area is situated 200 meters above sea level with extensive road access and is located less than 10 kilometers from a
power plant, highway, gas line and other major infrastructure. Major power lines cross the property area. Almadex
has its full drill permits from SEMARNAT and has l and access agreements in place. The land ownership is private
over most of the project area, has previously been cleared and is used for local agricultural purposes.
The four copper-gold porphyry targets currently known within the El Cobre Project , Encinal, El Porvenir, Norte and
Villa Rica are defined by distinct Cu-Au soil anomalies, discrete, positive magnetic features and a large IP
chargeability anomaly. The largest target area is the Villa Rica zone which has not been drill tested. Limited past RC
and diamond drill testing at Encinal , El Porvenir, and Norte has returned wide intercepts of porphyry copper -gold and
narrow zones of intermediate sulphidation epithermal gold -silver vein mineralization, with selected intercepts as
follows:
El Porvenir Zone: Drilling has demonstrated that the system persists at least to 400 m depth. Significant
copper and gold grades were intersected such as 0.16% Cu and 0.39 g/t Au over 290 m in hole DDH04CB1.
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In addition, hole EC -13-004 intersected 0.23% Cu and 0.36 g/t Au over 106 m, to a depth of 504 m, again
indicating potentially significant mineralization at depth.
Deep IP Zone: To the north of the El Porvenir Zone a large area of high chargeability responses is located at
depth. This zone is interpreted to be a possible core to the entire El Cobre porphyry system.
Encinal Zone: Hole CB5 intersected a highly altered breccia pipe containing fragments of stockwork veining
and porphyry mineralisation across which 15 meters returned 1.63 g/t Au and 0.12% Cu. The breccia pipe
occurs in a large alteration zone, IP chargeability high and magnetics low which has not been tested to
depth. On July 1, 2016, Almadex reported results of drilling at Encinal, whi ch were consistent with the
interpretation that the drilling was located in a zone marginal to a potential copper -rich portion of the
porphyry system.
Norte Zone: All five holes drilled in the Norte Zone prior to 2016 intersected porphyry-style mineralization.
Hole 08-CBCN-022, one of the deepest holes drilled at Norte in 2008, returned values of 0.14% Cu with 0.19
g/t Au over 259 m and 08-CBCN-19 intersected 41.15 meters averaging 0.42 g/t gold and 0.27% copper to
the end of the hole at 187.45 m eters. Drilling in 2016 and 2017 has been designed to test this zone to the
south and at depth.
In addition to the above, several anomalous areas remain untested by drilling, including the Villa Rica Zone, a roughly
2.5 kilomet re by 1 kilomet re area defined by a strong north-northwest trending magnetic -chargeability high and
associated copper -gold soil geochemical anomaly. Recently (see Almadex news release of March 19 th, 2017)
significant mineralisation was identified in outcrop and float at the Villa Rica zone.
More information on El Cobre is available on the Almadex website at
http://www.almadexminerals.com/ASSETS/PROJECTS/Cobre.html.
Larry Segerstrom, M.Sc. (Geology), P.Geo., A Director of the Company, is a Qualified Person as defined by National
Instrument 43-101 ("NI 43-101") and has reviewed and approved the contents of this news release. The porphyry
mineralisation reported in this news release is associated with broad areas of alteration and stockwork veining. True
widths cannot be determined at this time . The analyses reported were carried out at ALS Chemex Laboratories of
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, samples are first analysed by Inductively
Coupled Plasma – Atomic Emission Spectroscopy (“ICP-AES”), with four acid digestion. Samples that return values
greater than 10000 g/t copper 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. A NI 43-101 compliant technical report on the El Cobre project entitled , "Technical Report on the El
Cobre Property” was filed in May 2015 and can be obtained from www.sedar.com.
About Almadex
Almadex Minerals Limited 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 over 35 years of prospecting and
deal-making by Almadex's predecessor company, Almaden Minerals Ltd. Almadex is currently focused on exploration
at its El Cobre gold/copper porphyry project in Veracruz, Mexico, in which it holds a 100% interest, subject to a
sliding-scale net smelter returns royalty (“NSR”) equivalent to 0.5% in the event that production from the property
exceeds 10,001 tonnes per day of ore. This NSR can be r educed to 0.25% at this production rate through the
payment of US$3 million.
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On behalf of the Board of Directors,
“Morgan Poliquin”
Morgan J. Poliquin, Ph.D., P.Eng.
President, CEO and Director
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. 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,
continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances
that such statements will prove a ccurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.
We do not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities
laws.
Contact Information:
Almadex Minerals Limited
Tel. 604.689.7644
Email: [email protected]
http://www.almadexminerals.com/