Almaden Confirms 100% Ownership of Ixtaca Project
December 03 2020 - 8:00AM
Almaden Minerals Ltd. (“
Almaden” or the
“
Company”; TSX: AMM; NYSE American: AAU) wishes to
address certain questions that have arisen in respect of its press
release of December 1, 2020 regarding its Ixtaca gold & silver
project in Mexico.
Almaden’s key 100% owned mineral concessions,
that cover the Ixtaca project, and which are the subject of the
Feasibility Study announced in 2018, are not adversely affected by
the denial of Almaden’s appeal noted in the December 1, 2020 news
release.
While a Mexican court has denied the appeal
filed by the Company regarding the Company’s voluntary reduction of
its mineral concessions, the Company wishes to reiterate the
following:
- The court decision upholds the
original, 14,000 Ha larger concessions, which the Company
originally held;
- The original concessions provide
Almaden with the same exploration and mining rights over the
Company’s Ixtaca project as would the reduced concessions;
- Almaden continues to have full
access to the Ixtaca project for its ongoing exploration
programs;
- As disclosed in the Company’s press
release of September 9, 2020, a Court has confirmed that the
existence of the Amparo lawsuit involving these original
concessions does not prevent the environmental authority
(“SEMARNAT”) from resolving the environmental permit (“MIA”)
application and that SEMARNAT is free to act within its
jurisdiction and authority in respect of the MIA review.
Further background on this matter is available
in the Company’s recent disclosure including that of February 27,
2020, September 9, 2020 and December 1, 2020.
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 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
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 outcome of the Amparo proceedings; the outcome of
the challenge by the Company to the applicable Mexican Authorities’
position that the original concessions are active and owned by
Almaden and the reduced concessions awarded in 2017 are held
without effect; the outcome of the Company’s efforts to have
SEMARNAT continue its review of the MIA; and the prospects for
raising production financing and preparing for construction in
connection with the Ixtaca Project.
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 both Almaden’s and the applicable Mexican
Authorities’ legal positions, 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 for 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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