ALMADEN Message Board - Msg: 6771496

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Gold/Mining/Energy : ALMADEN

AMH 31.60

-1.5%

Oct 31 9:30 AM EDT

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To: Thomas Boychuk who wrote (114)	12/10/1998 10:28:00 AM
From: Thomas Boychuk	Read Replies (1) of 119

December 9, 1998 NEWS RELEASE Almaden Resources Corporation is pleased to announce that a 1,000 metre reverse circulation drill program has comenced on the Yago joint venture, Nayarit State, Mexico. Santoy may earn a 51% interest in the property from Minera Gavilan SA de CV, a wholly owned subsidiary of Almaden Resources Corporation by funding the next CDN$2.0 million in exploration expenditures and making underlying property payments which could total US$2.1 million over the next seven years. The drilling will test several potentially high grade gold-silver bearing banded quartz-adularia veins that are located within a highly altered zone measuring 1.5 by 2.0 kilometres. Numerous small scale old workings are present on the property. Grab samples taken from the dump material of the following veins returned values of up to: Vein Name Sample Description Au (g/t) Ag (g/t) La Tejona grab 10.9 576 Guadalupe grab 45.1 903 5.5 1,406 La Korina grab 9.5 793 Creek Zone average of 15 chip samples from 15 metre wide vein 1.9 25.5 Vein X vein sample over 3.1 m 2.7 2.6 grab sample 3.7 921 These results suggest that the present level of exposure of the veins is close to the depositional level where bonanza grade gold-silver values occur in similar systems such as Hishikari, Japan; Martha Hill, New Zealand; and McLaughlin, California. Hydrothermal alteration mapping and fluid inclusion studies support the conclusion that the present erosion surface represents shallow depths beneath the paleo-water table of the hydrothermal system. The potential for high-grade gold-silver mineralization is expected to extend from surface to great depths beneath the present surface. A minimum of six widely-spaced reverse circulation drill holes will test approximately 100 metres below surface under some of the known veins. The drilling will test the Creek Zone over a distance of 500 metres as well as the Guadalupe/Vein X systems over 700 metres. On behalf of the Board, James E. McInnes Director website- almadenresources.com

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