Almadex Minerals Limited Grants Stock Options

NEWS RELEASE

May 5, 2017

Trading Symbols:

TSX-V: AMZ; OTCQB: AXDDF

www.almadexminerals.com

ALMADEX MINERALS LIMITED GRANTS STOCK OPTIONS

VANCOUVER, B.C. Almadex Minerals Limited ("Almadex" or the "Company") (TSX-V: AMZ; OTCQB: AXDDF )

announces that , p ursuant to its Stock Option Plan, it has granted stock options to certain directors, officers and

consultants of the Company to purchase an aggregate 583,000 common shares in the capital of the Company at an

exercise price of $1.10 per share which expire on May 5, 2019.

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 prospecti ng 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 smelt er 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 reduced to 0.25% at this production rate through the

payment of US$3 million.

On behalf of the Board of Directors,

“Morgan Poliquin”

Morgan J. Poliquin, Ph.D., P.Eng.

President, CEO and Director

Almadex Minerals Limited

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 does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United Sta tes. The

securities have not been and will not be registered und er 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 unle ss

registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Contact Information:

Almadex Minerals Limited

Tel. 604.689.7644

Email: [email protected]

http://www.almadexminerals.com/