Almaden Encouraged By Court Decision

VANCOUVER, British Columbia., April 14, 2021 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU) announces that the Collegiate (Appeals) Court of Mexico has issued a decision that it does not have the necessary authority to rule on the appeals filed by the Mexican Congress, Senate, Secretary of Economy and mining authorities, as well as Almaden as an interested party, and has instead referred the case directly to the Supreme Court of Justice of Mexico (“SCJN”). The Company anticipates a decision from the SCJN on this matter within the next four to eight months.

The Company notes that in January 2021, the SCJN issued a decision concerning a mining property in north Puebla state owned by a company unrelated to Almaden, where the constitutionality of Mexico’s mining laws had been challenged. The SCJN, in a unanimous decision, confirmed that Mexico’s mining law is constitutional. The Company’s Mexican constitutional law attorney has advised that the January decision will have to be taken into account by the court when considering this case.

By way of background, in April 2019, a lower court in Puebla State issued a decision that Mexico’s mineral title system is unconstitutional because consultation of indigenous communities is not required before the granting of mineral title. The lawsuit was brought against the Mexican government and could have consequences for mineral titles throughout Mexico, but it used the Company’s mineral claims to make the argument. For more background see the Company’s press releases of April 15, 2019 and February 27, 2020.

The Company is pleased that this matter will finally be resolved and will continue with its current permitting and exploration plans.

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 deposit hosts a proven and probable reserve containing 1.38 million ounces of gold and 85.1 million ounces of silver (73.1 million tonnes grading 0.59 g/t Au and 36.3 g/t Ag). A report titled “Ixtaca Gold-Silver Project, Puebla State, Mexico NI 43-101 Technical Report on the Feasibility Study”, which was prepared in accordance with NI 43-101, is available under the Company’s profile on SEDAR and on the Company’s website. The Ixtaca Gold-Silver Deposit was discovered by Almaden in 2010.