Almaden Updates Stakeholders on Permitting for the Ixtaca Project, Mexico
October 29 2019 - 5:55PM
Almaden Minerals Ltd. (“Almaden" or the "Company"; TSX: AMM; NYSE
American: AAU) was today notified by SEMARNAT, Mexico’s
environmental authority, that the permitting process for the Ixtaca
project has been suspended pending resolution of the mineral title
lawsuit reported by the Company on September 10 and April 15, 2019
(the “Lawsuit”).
Under the Lawsuit, certain organisations have
supported legal challenges against the Government of Mexico and the
Mexican mineral title regime using the Company’s mineral claims as
a basis for their challenges. The Lawsuit contends that the
issuance of Almaden’s original mineral titles violated human rights
and did not respect Mexico’s commitment to indigenous consultation
under United Nations Instrument ILO 169.
Almaden’s original mineral claims, which
totalled approximately 14,000 hectares, were granted many years ago
in full compliance with Mexican law and in the same manner as all
existing mineral titles in Mexico. In April, 2019, a Lower Court in
Puebla State ruled that the Mexican mineral title system is
unconstitutional and as a result these original mineral claims
should be held exclusively for Almaden until such time as
consultation can be completed. This Lower Court decision has now
been appealed by the Mexican Congress, Senate, Secretary of Economy
and Mining authorities, as well as Almaden as an affected party.
The Lawsuit remains before the Courts.
Although the Company understands that SEMARNAT’s
mandate is restricted to the review of the technical merits of the
environmental permit application, on October 4, 2019, SEMARNAT
requested the Lower Court in Puebla to provide information on the
Lawsuit. Almaden has reviewed the report provided by the Lower
Court to SEMARNAT, which informs SEMARNAT that the purpose of the
decision is to protect the complainant’s agrarian rights and lands,
in order that the complainant is not affected by the mining
concessions or possible mining activities. The complainant is a
community of about 150 people, located well outside of the Ixtaca
project impact area.
Having reviewed the Court’s response to
SEMARNAT, on October 24, the Company submitted a writ to SEMARNAT
in part to confirm that the Company completed the necessary steps
to abandon its mineral claims in the area of the complainant in
2017, and has no interest in holding any mineral claims in this
area.
Almaden is studying measures it can take to
resolve this suspension.
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 Gold-Silver Deposit was discovered by Almaden in 2010.
On Behalf of the Board of Directors
“Morgan
Poliquin”
Morgan J. Poliquin, Ph.D., P.Eng.President, CEO and DirectorAlmaden
Minerals Ltd.
Forward Looking Statements
Neither the Toronto Stock Exchange (TSX) nor the
NYSE American have reviewed or accepted responsibility for the
adequacy or accuracy of the contents of this news release which has
been prepared by management. Statements contained in this news
release that are not historical facts are “forward-looking
information” or “forward-looking statements” (collectively,
“Forward-Looking Information”) within the meaning of applicable
Canadian securities legislation and the United States Private
Securities Litigation Reform Act of 1995. Forward Looking
Information includes, but is not limited to, disclosure regarding
the permitting review process for the Ixtaca project and the
outcome of legal actions in Mexico that are based on assumptions
about: the permitting and legal regimes in Mexico; economic and
political conditions; success of exploration, development and
environmental protection and remediation activities; the Company’s
belief that Ixtaca will, long after final closure, make meaningful
and enduring positive contributions to surrounding communities and
beyond, the Company’s expectation that the project would employ
over 400 people over an 11-year mine life and would also provide
updated infrastructure to the region, the impact of the project's
proposed dry-stack tailing facilities, the Company’s belief that
the Ixtaca deposit can be an economically robust project that could
provide the basis for further investment in the area. In certain
cases, in preparing the Forward-Looking Information in this news
release, the Company has applied several material assumptions,
including, but not limited to, that the Government of Mexico will
continue to take the same positions with respect to mineral tenure
in any appeal as it did before the Puebla Lower Court.
Forward-Looking Information involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the Forward-Looking Information. Such risks
and other factors include, among others, risks related to;
environmental risks, including environmental matters under Mexican
rules 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 environmental 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 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 Forward-Looking Information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on Forward-Looking
Information. Except as required by law, the Company does not assume
any obligation to release publicly any revisions to Forward-Looking
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. 604.689.7644 Email:
info@almadenminerals.comhttp://www.almadenminerals.com/
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