Almaden Encouraged By Court Decision
April 14 2021 - 5:05PM
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 AlmadenAlmaden 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.
On Behalf of the Board of Directors,
“J. Duane
Poliquin” J. Duane
PoliquinChairmanAlmaden Minerals Ltd.
Safe Harbor Statement
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: the Company’s ability to advance its exploration and
permitting plans, the anticipated timing of a decision on this case
by the SCJN, and that any SCJN decision would have to take the
January, 2021 decision into account.
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 Almaden’s financial position, that, while
considered reasonable by the Company, 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, environmental and agrarian 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.
The Company cautions the reader that
forward-looking statements and information involve known and
unknown risks, uncertainties and other factors that may cause
actual results and developments to differ materially from those
expressed or implied by such forward-looking statements or
information contained in this news release. Such risks and other
factors include, among others, risks related to: political risk in
Mexico; crime and violence in Mexico; corruption; environmental
risks, including environmental matters under Mexican laws and
regulations; impact of environmental impact assessment requirements
on the Company’s planned exploration and development activities on
the Ixtaca Project; certainty of mineral title and the outcome of
litigation; community relations; governmental regulations and the
ability to obtain necessary licences and permits; risks related to
mineral properties being subject to prior unregistered agreements,
transfers or claims and other defects in title; changes in mining,
environmental or agrarian laws and regulations and changes in the
application of standards pursuant to existing laws and regulations
which may increase costs of doing business and restrict operations;
as well as those factors discussed the section entitled "Risk
Factors" in Almaden's Annual Information Form and Almaden's latest
Form 20-F on file with the United States Securities and Exchange
Commission in Washington, D.C. Although the Company has attempted
to identify important factors that could affect the Company and may
cause actual actions, events or results to differ materially from
those described in forward-looking statements or information, there
may be other factors that cause actions, events or results not to
be as anticipated, estimated or intended. There can be no assurance
that our forward-looking statements or information will prove to be
accurate. Accordingly, readers should not place undue reliance on
forward-looking statements or information. Except as required by
law, the Company does not assume any obligation to release publicly
any revisions to on forward-looking statements or information
contained in this news release to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events.
Contact Information:
Almaden Minerals Ltd.Tel. 604.689.7644Email:
info@almadenminerals.comhttp://www.almadenminerals.com/
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