Almadex stakes epithermal prospect in Idaho
VANCOUVER, British Columbia, June 16, 2026 (GLOBE NEWSWIRE) -- Almadex Minerals Ltd. ("Almadex" or the "Company") (TSX-V: “DEX”) is pleased to announce that it has acquired the Fountain Ridge epithermal precious metals prospect in western Idaho by staking. The project is located in a region with significant known epithermal gold-silver deposits such as Grassy Mountain, Oregon and DeLamar, Idaho. The DeLamar deposit in Idaho is located approximately 27 kilometers away from the Fountain Ridge prospect and had reported historic production of ~1 million ounces of gold and 50 million ounces of silver1. The Grassy Mountain deposit is located roughly 58 kilometres from the Fountain Ridge prospect. The information disclosed from nearby properties is not necessarily indicative to the mineralization on the Fountain Ridge property.
The Fountain Ridge prospect covers an area of high level (paleo water table) alteration including replacement silicification, argillic alteration and hot spring deposits including features interpreted to be sinter deposits. The alteration is developed in volcano sedimentary and lacustrine units that are overlain by basaltic flows. No significant gold or silver assays were returned from initial grab samples of alteration taken; however, the alteration is consistent with the paleo water table environment of a fossil geothermal system where significant precious metals values are not expected (photos of various outcrops are shown below). Further sampling, mapping and some preliminary induced polarisation (“IP”) geophysical surveys are planned for the coming months to see if initial drill targets can be generated.
J Duane Poliquin, Chairman of Almadex commented, “We are pleased to further expand our exploration portfolio by acquiring the Fountain Ridge epithermal prospect. We look forward to reporting advances as exploration progresses.”
1Feasibility Study and Technical Report on the DeLamar Project, Owyhee County, Idaho, USA, February 2, 2026.
Technical Details and Qualified Persons
Morgan J Poliquin, PhD, PEng, the President and CEO of Almadex and a Qualified Person (“QP”) as defined by National Instrument 43-101 ("NI 43-101"), has reviewed and approved the scientific and technical contents of this news release. Daniel Santamaria, P.Geo. and a Qualified Person as defined by NI 43-101 is the QP for the Fountain Ridge project, Idaho and has reviewed and approved the contents of this news release.
About Almadex
Almadex Minerals Ltd. is an exploration company that holds a large mineral portfolio consisting of projects and NSR royalties in Canada, the U.S., and Mexico. This portfolio is the direct result of many years of prospecting and deal-making by Almadex's management team. The Company owns several portable diamond drill rigs, enabling it to conduct cost effective first pass exploration drilling in house.
On behalf of the Board of Directors,
“Morgan J. Poliquin”
Morgan J. Poliquin, PhD, PEng
President and CEO
Almadex Minerals Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. Forward-looking statements in this news release include, among other things, the Fountain Ridge Project and related exploration plans, exploration and drilling plans in general and any further work to advance exploration targets. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, permitting, continued availability of capital and financing, equipment availability and general economic, market or business conditions. The foregoing list of assumptions is not exhaustive. There can be no assurances that forward-looking statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws. This news release also does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Figure 1: replacement silicification and crackle brecciation. Figure 2: chalcedonic silica replacement cut by quartz hairline veinlets. Figure 3: argillic alteration and silicified crackle breccias. Figure 4: stratabound chalcedonic silicification.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e615e69b-e360-4c75-8786-c6e06b69d74c
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