Almaden Comments on Media Reports

VANCOUVER, British Columbia, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU) understands that certain media have reported that Mexico’s Supreme Court will soon make a ruling on the constitutionality of the Mexico’s mining code, stemming from a complaint brought in relation to the Company’s mineral claims in Ixtacamaxtitlán, Puebla State, Mexico.

The Company wishes to confirm that the case pertaining to its Ixtaca mineral claims is not being heard at the Supreme Court level and therefore this reported ruling cannot relate to the Company’s Ixtaca project. The Company is aware that other mineral claims in Puebla State unrelated to the Company’s Ixtaca project are the subject of one or more complaints at the Supreme Court level, but the Company has no first-hand knowledge of the status of these cases.

About Almaden

Almaden Minerals Ltd. owns 100% of the Ixtaca project in Puebla State, Mexico, subject to a 2.0% NSR royalty held by Almadex Minerals Ltd. The Ixtaca Gold-Silver Deposit was discovered by Almaden in 2010.

On Behalf of the Board of Directors,

“J. Duane Poliquin”    
J. Duane Poliquin
Chairman
Almaden Minerals Ltd.

Forward Looking Statements

Certain of the statements and information in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian provincial securities laws. All statements, 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: SEMARNAT’s notification stating that the Company’s MIA in respect of the Ixtaca project has not received approval; the reasons for SEMARNAT’s decision; and alternative available to the Company in respect of SEMARNAT’s decision.

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, including assumptions in respect of litigation involving the constitutionality of the Mexico’s mining code and the status of mineral tenure to the Company’s Ixtaca Project.  While these views are considered reasonable by the Company, they are inherently subject to significant 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 mineral tenure, mining, agrarian and environmental laws and regulations, as well as their application and judicial decisions thereon; continued respect for the rule of law in Mexico; prices for gold, silver and base metals remaining as estimated; currency exchange rates remaining as estimated; availability of funds; capital, decommissioning and reclamation estimates; mineral reserve and resource estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; all necessary permits, licenses and regulatory approvals being received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; community support in the Ixtaca Project; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.