News Release: December 16th, 2005
Drilling Underway at the
San Carlos Project, Mexico
Almaden Minerals Ltd. ("Almaden")
is pleased to announce that Hawkeye Gold and Diamond Inc. ("Hawkeye"),
the operator of the San Carlos project, has announced that a
diamond drill program is underway at Almaden's San Carlos silver-lead-zinc-copper-gold
project in Tamaulipas State, Mexico. Hawkeye has informed Almaden
that the program will consist of 1,000 to 1,500 meters of drilling
designed to test several high chargeability induced polarization
("IP") anomalies that are spatially coincident with
elevated lead, zinc, silver, copper and gold in soil and rock
samples taken during previous work programs.
In April, 2005 Almaden signed a revised option
agreement with Hawkeye on terms whereby Hawkeye can earn a total
of 60% of the San Carlos project by paying $C45,474.77 representing
past obligations (paid), issuing a total of 1,450,000 shares
to Almaden (850,000 already received) and incurring exploration
expenditures of US$4 Million over six years.
Almaden currently has 14 active joint ventures,
including 9 in which other companies are carrying all costs in
order to earn an interest in the projects. Almaden will continue
with its successful business model of identifying exciting new
projects through early stage grass roots exploration and managing
risk by forming joint ventures in which partner companies explore
and develop our projects in return for the right to earn an interest
in them.
ON BEHALF OF THE BOARD
OF DIRECTORS
Duane Poliquin
The Toronto Stock Exchange
has not reviewed nor 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 statements
as that term is defined in the private securities litigation
reform act of 1995. Such forward -looking statements are subject
to risks and uncertainties which could cause actual results to
differ materially from estimated results. Such risks and uncertainties
are detailed in the Company's filing with the Securities and
Exchange Commission.
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