Almaden Announces Mexican Federal Government Issues Decree to Temporarily Suspend All Non-Essential Businesses, Including Min...
April 01 2020 - 5:18PM
Almaden Minerals Ltd. (“Almaden” or “the Company”; AMM:
TSX; AAU: NYSE American) announces that the Mexican
federal government has mandated that all non-essential businesses,
including mining and exploration, temporarily suspend operations
until April 30 due to the COVID-19 virus (the “Decree”).
As Almaden is pursuing permitting of the Ixtaca
project, it has not had an ongoing technical program at the
project. Moreover, Almaden has already suspended its activities in
order to protect its work force and local communities, and
employees at the corporate office and in Mexico have been working
from home when possible. Almaden will continue to follow government
health protocols and implement additional protocols as may be
necessary for the protection of its workforce and local
communities, and as contemplated in the Decree will only engage in
activities whose suspension may have irreversible effects for the
continuance of Almaden’s business.
In terms of legal actions and administrative
procedures in which the Company is involved in Mexico, Almaden
understands from a communication issued by the Judicial authorities
that all Court activities in Mexico have been formally suspended
until April 20, 2020. It is unclear at this time whether this court
suspension will be extended beyond April 20.
J. Duane Poliquin, Chairman of Almaden stated:
“We recognize the seriousness of this pandemic and have previously
taken precautionary measures to protect our employees, their
families and local communities. We will continue to monitor the
situation closely and urge all of our stakeholders to take the
necessary steps against the spread of this virus”.
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 Limited. Almaden discovered the Ixtaca
gold-silver deposit 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 Information
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 intended use of net proceeds of the Offering.
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. 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: the COVID-19
pandemic, the impact of the pandemic on Almaden and the impact of
government action aimed at ameliorating the pandemic on Almaden’s
workforce, business and operations, 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 the Company’s 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 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. 604.689.7644 Email:
info@almadenminerals.comhttp://www.almadenminerals.com/
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