Almaden Minerals Ltd. announced results of preliminary scoping-level metallurgy performed by Blue Coast Research Ltd, and reviewed and summarised by Dr. Andrew Bamber, P.Eng., as well as the maiden National Instrument 43-101 compliant Mineral Resource Estimate on the Ixtaca Zone of its 100% owned Tuligtic Gold-Silver Project Mexico performed by Giroux Consultants Ltd. The Ixtaca Zone is a gold (Au) and silver (Ag) deposit with roughly equal values per tonne of each metal. The resource is presented in gold equivalent (AuEq) ounces and cut-offs calculated based on price ratios. The newly received preliminary metallurgical test results indicate non-optimised gold and silver recoveries that are roughly equivalent for each geological domain.

The deposit is mostly hosted by carbonate units and crosscutting dykes ("basement rocks") and overlying volcanic rocks. In the base case roughly 90% of the deposit's AuEq ounces are hosted in the basement rocks, the remaining 10% in volcanic rocks. While the preliminary metallurgical results are considered excellent, further test work is planned to improve and optimize recoveries for all the different geologic units.

The data available for the resource estimation consisted of 225 drill holes assayed for gold and silver. The estimate was constrained by three dimensional solids representing different lithologic and mineralized domains. Capping was completed to reduce the effect of outliers within each domain.

Uniform down hole 3 meter (m) composites were produced for each domain and used to produce semivariograms for each variable. Grades were interpolated into blocks 10 x 10 x 5 m in dimension by ordinary kriging. Specific gravities were determined for each domain from drill core.

Estimated blocks were classified as either Indicated or Inferred based on drill hole density and grade continuity.