Almadex Commences Diamond Drilling at its Paradise Project, Nevada

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VANCOUVER, British Columbia, June 17, 2025 (GLOBE NEWSWIRE) — Almadex Minerals Ltd. (“Almadex” or the “Company”) (TSX-V: “DEX”) is pleased to announce that it has commenced diamond drilling operations at its porphyry lithocap target on the Paradise Project, Nevada. The program will target both near surface gold potential and deep porphyry potential. Almadex currently plans 3 to 4 holes in this program. The holes were designed to test targets defined by the Company’s past and the more recent work described in its news release of May 14, 2025. Previous work carried out by Almadex includes extensive mapping, soils and the drilling of two holes on the northwest portion of the lithocap in 2024. These two holes confirmed the presence of porphyry veining but were interpreted to have intercepted a more distal part of the porphyry system (see Almadex news release of October 8^th, 2024). Recent work reported here includes prospecting and detailed mapping within the lithocap alteration zone along with drone based (UAV) magnetics and ground IP surveys. The porphyry lithocap has potential for three styles of mineralisation; high sulphidation gold hosted in quartz-alunite alteration, porphyry related mineralisation underlying and adjacent to the high sulphidation system, and gold-silver in epithermal veins that crosscut both.

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J Duane Poliquin, Chairman of Almadex commented, “Our work has defined a vector towards a potential core of this large alteration system and it is very exciting to now be drill testing this model in this 2025 drill program.”

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About Lithocap Alteration Zones and the Paradise Lithocap
Lithocaps are extensive areas of hydrothermally altered rocks that occur above or adjacent to intrusive rocks and related porphyry deposits. The hydrothermal alteration forms when ascending high temperature magmatic fluids are released from the source intrusion below and alter permeable and reactive rocks occurring above. Lithocaps can be over 10 by 10 km in surface area and over 1 km thick. The alteration mineral assemblages vary, usually with distance from the intrusive source. Often more neutral and higher temperature stable alteration mineral assemblages are seen at depth, closer to the source intrusion and potential porphyry deposit. More acidic and lower temperature stable assemblages generally occur higher and farther away. Mapping of alteration minerals and geochemical analysis using soil and rock samples can map these changes in mineralogy. This mapping can then provide a vector towards potential underlying porphyry systems. If large areas of lithocap alteration are well preserved, they can obscure deep unexposed porphyries and other styles of mineralisation. If no mineralisation is present at surface, drilling based on geochemical and alteration vectors aided by geophysical data is the best way to explore for buried deposits.

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The wholly owned 1,547 hectare Paradise property covers a roughly 4.5 by 1.8 kilometre area of exposed intense hydrothermal alteration developed in volcanic rocks. This alteration zone which includes quartz-alunite, pyrophyllite and diaspore is typical of high-sulphidation environments forming above porphyry copper-gold systems. The alteration has been mapped by Almadex using a Terraspec infrared spectrometer. This work, using rock chip spectral data points has defined a well preserved porphyry lithocap with alunite core zones (with increasing Na-composition) haloed by pyrophyllite, dickite then hypogene kaolinite. Surrounding the acid sulphate zones are halos of sporadic paragonitic illite (grading to dominant muscovitic alteration) with chlorite in peripheral alteration halos (propylitic).

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Qualified Persons and Technical Details
Morgan J Poliquin, PhD, PEng, the President and CEO of Almadex and a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”), has reviewed and approved the scientific and technical contents of this news release. The analyses reported were carried out at ALS Chemex Laboratories using industry standard analytical techniques. For gold, samples are first analysed by fire assay and atomic absorption spectroscopy (“AAS”). Samples that return values greater than 10 g/t gold using this technique are then re analysed by fire assay but with a gravimetric finish.