Almaden Reports on Legal Developments in Mexico Regarding Ministry of Economy Efforts to Deny Twenty Year-Old Ixtaca Mineral Title Applications

VANCOUVER, British Columbia, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU) is pleased to report on two recent court decisions, both relating to the submission (the “Submission”) issued by Mexico’s Ministry of the Economy (“Economia”) to the second district court in Puebla State (the “District Court”) in February 2023.

As reported on February 22, April 13, and September 14, 2023, Economia made the Submission to the District Court seeking to deny the two mineral title applications which were first made by Almaden in 2002 and 2008. The Submission claims that the applications contain technical faults, despite Economia’s previous statements to the contrary and its acceptance of the mineral title applications and grant of the mineral titles in 2003 and 2009. By alleging technical faults in the mineral title applications, Economia appears to be arbitrarily seeking to deny the grant of the mineral titles and avoid the indigenous consultation ordered by the February 2022 decision of Mexico’s Supreme Court (“SCJN”). Such consultation would be welcomed by both the Company and surrounding community members.

The two court decisions reported today are summarized below:

• The Federal Appeals court (“TCC”) dismisses all of the appeals filed by the Parties, including those of the Company and supporting community members, and rules the Submission is compliant with the 2022 decision of the SCJN, since the SCJN decision did not formally prevent Economia from reviewing the technical aspects of the mineral title applications;
• The TCC ruling also does not address the validity of the Submission and therefore safeguards the Company’s right to challenge the substance and legality of the Submission through the Mexican Federal Administrative Court (“TFJA”);
• As follow-up to the press release of September 14, 2023, the TFJA has now granted a definitive injunction in relation to the Submission, which prevents Economia from releasing the mineral rights covered by Almaden’s mineral title applications to third parties while the trial continues, anticipated to last 18 months.
  

By way of background, the two mineral titles previously owned by Almaden which covered the Ixtaca project were the subject of a lawsuit against the Mexican government (President, Congress, Ministry of Economy, Directorate of Mines, Mining Registry Office) asserting that the Mexican mining law is unconstitutional. In April 2019, the District Court issued a decision that Mexico’s mining law is unconstitutional because it fails to include provisions requiring consultation of indigenous communities before granting mineral titles. This decision was appealed by Mexican authorities and the Company, as an affected third party, with the appeals being heard by the SCJN.