September 23, 2021
Almadex provides an update on the royalty portfolio
VANCOUVER, BC Almadex Minerals Ltd. (“Almadex” or the “Company”) (TSX-V: “DEX”) is pleased to provide an update on the 1.5% NSR royalty that the Company holds on the Caballo Blanco project (“Caballo Blanco”, or the “Project”), located in Veracruz, Mexico.
On September 22, 2021, the operator of the Caballo Blanco project, Candelaria Mining Corp. (“CAND”), announced that it has closed the first tranche of funding in the amount of approximately $ 7.9 million. Agnico Eagle Mines Limited (“Agnico”) subscribed approximately $ 6 million of this tranche, increasing Agnico’s ownership of CAND from 10,120,000 common shares to 23,453,333 common shares and 6,666,667 warrants, representing approximately 19.59% of the issued and outstanding shares of CAND on a partially diluted basis.
As reported by CAND on September 1, 2021, Agnico’s entire investment is allocated to the Caballo Blanco project, subject to obtaining the necessary permits.
J. Duane Poliquin, Chairman of Almadex, said: “We are very encouraged to see such a vote of confidence from Agnico in this project, which clearly has implications for the value of our 1.5% royalty. 1.75% royalty on the El Cobre property, which adjoins Caballo Blanco to the south and is operated by Azucar Minerals Ltd. We are pleased that exploration is continuing in this area with high mineral potential.
Almadex Minerals Ltd. is an exploration company that owns a large portfolio of minerals consisting of NSR projects and royalties in Canada, the United States and Mexico. This portfolio is the direct result of more than 35 years of prospecting and negotiation by the Almadex management team. The Company owns a number of portable diamond drilling rigs, which enables it to perform cost-effective first-pass exploration drilling in-house.
On behalf of the Board of Directors,
“J. Duane Poliquin”
J. Duane Poliquin, President
Almadex Minerals Ltd.
Technical and third-party information
Unless otherwise indicated, disclosure in this press release regarding the Caballo Blanco, CAND and Agnico Project is based on information publicly disclosed by the owners or operators of the Project and information / data available in the public domain as of the date hereof. and none of this information has been independently verified by Almadex. More specifically, as a royalty holder, Almadex has limited or no access to the project. Although Almadex does not know that this information may not be accurate, there can be no assurance that this third party information is complete or accurate. Certain information made public by the operator may relate to a property larger than the area covered by the Almadex license fee.
interests. Almadex royalty interest may cover less than 100% and sometimes only a portion of a property’s publicly declared mineral reserves, mineral resources and production. Unless otherwise indicated, all technical and scientific disclosure contained or referenced in this press release, including any reference to mineral resources or mineral reserves, has been prepared in accordance with Canadian National Instrument 43-101 (“NI 43-101” ), which differs significantly from the requirements of the United States Securities and Exchange Commission (the “SEC”) applicable to US domestic issuers. Therefore, the scientific and technical information contained or referenced in this press release may not be comparable to similar information made public by US companies subject to the filing and disclosure requirements of the SEC. “Inferred mineral resources” involve great uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or part of an Inferred Mineral Resource will ever be upgraded to a higher category. Historical results or feasibility models presented here are not guarantees or expectations of future performance.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements subject to risks and uncertainties. All statements it contains, other than statements of historical fact, should be considered forward-looking. Although the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results or developments may differ materially from those of forward-looking statements. Factors that could cause actual results to differ materially from those of forward-looking statements include market prices, exploitation and exploration successes, permits, continued availability of capital and financing, and economic conditions. , market or general commercial. There can be no assurance that these statements will prove to be correct and, therefore, readers are cautioned by their own assessment of these uncertainties. The Company assumes no obligation to update forward-looking statements, except as required under applicable securities laws.
Almadex Minerals Ltd.
Email: [email protected]
Almadex Minerals Ltd. published this content on September 23, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on September 23, 2021 06:11:09 PM UTC.