Almaden Options Matehuapil Project, Mexico to Apex Silver
06 Dicembre 2007 - 7:53PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (AMEX: AAU) ("Almaden") is pleased
to announce that it has optioned its 100% owned (subject to a 1%
NSR to the Mexican government) Matehuapil silver-lead-zinc project
in Mexico to Apex Silver (AMEX: SIL). Apex Silver can earn a 60%
interest in the project from Almaden by spending US$2.6 M and by
making cash payments to Almaden of roughly C$307,000 (3,312,000
pesos) over 6 years. Apex Silver is committed to spend US$150,000
in the first 18 months and will make an initial payment of roughly
C$122,000 (1,324,800 pesos) to Almaden.
J. Duane Poliquin, CEO of Almaden commented that, "Almaden is
excited to be partnered with Apex Silver, a proven mine-building
company, on two of our projects, Viky and Matehuapil. Their
top-notch geologic abilities will now be focused on testing the
Matehuapil project."
Apex Silver is a mining exploration and development company. Its
65%-owned San Cristobal project is the world's largest development
in silver and zinc. Apex Silver maintains an active exploration
program with a focus on silver, base metals and gold in the
Americas. The Ordinary shares of Apex Silver trade on the American
Stock Exchange under the symbol "SIL".
In February, Almaden acquired the 12,030 hectare Matehuapil
claim, subject to a 1% NSR payable to the Mexican government,
through being the successful bidder in a state auction and by
agreeing to make payments totaling roughly $C500,000 to the Mexican
government. The Matehuapil claim is centred on historic lead-zinc
silver and copper-gold mines and carbonate replacement and skarn
mineralization spatially associated with intrusive rocks.
ABOUT ALMADEN
Almaden is a mineral exploration and development company with a
track record of making new discoveries in Canada and Mexico.
Almaden currently has 16 active joint venture and option
agreements. This includes 12 agreements under which other companies
are earning an interest in the Almaden projects by spending. In
addition Almaden holds a royalty interest in 8 projects in Mexico
and Canada. Almaden has approximately $20 million in working
capital, no debt, and holds approximately a 41.7% interest in
Tarsis Capital Corp. (TSX: TCC). Almaden will continue with its
successful business model of identifying new projects through grass
roots exploration and managing risk by forming joint ventures with
partner companies which then carry the cost of exploring and
developing our projects. Almaden's grass roots exploration programs
are designed to identify new mineral exploration projects in
mineral terrains geologically permissive for world-class ore
deposits. Almaden is seeking partners with the suitable business
and geological resources to explore and assess the potential of
these projects through drilling.
On Behalf of the Board of Directors
Morgan J. Poliquin, M.Sc., P.Eng., President, COO and
Director
Almaden Minerals Ltd.
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.
The Toronto Stock Exchange and American Stock Exchanges have not
reviewed nor accepted responsibility for the adequacy or accuracy
of the contents of this news release which has been prepared by
management.
Contacts: Almaden Minerals Ltd. Morgan J. Poliquin, M.Sc.,
P.Eng. President, COO and Director (604) 689-7644 (604) 689-7645
(FAX) Website: www.almadenminerals.com
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