Mr. J. Duane Poliquin reports

ALMADEX ANNOUNCES WARRANT EXTENSION

Subject to required approval from the TSX Venture Exchange, Almadex Minerals Ltd. will extend the expiry date of a total of 5.4 million outstanding common share purchase warrants.

The warrants were issued pursuant to a private placement of 5.4 million units at a price of 25 cents per unit on Oct. 16, 2020. Each unit consisted of one common share and one warrant, with each warrant entitling the holder thereof to purchase an additional common share of the company until Oct. 16, 2022, at an exercise price of 40 cents.

Pursuant to a notice to holders of warrants dated Sept. 29, 2022, the term of the warrants is being amended to extend the expiry date of the warrants by one year from Oct. 16, 2022, to Oct. 16, 2023. All other terms and conditions of the warrants will remain unchanged.

About Almadex Minerals Ltd.

Almadex is an exploration company that holds a large mineral portfolio consisting of exploration projects and net smelter return royalties in Canada, the United States and Mexico. This portfolio is the direct result of many years of prospecting and deal making by Almadex's management team. The company remains focused on grassroots exploration, acquisition and drilling mineral projects, on its own and in partnership with others, with the goal of creating new mineral resources and royalty holdings. The company owns several portable diamond drill rigs, enabling it to conduct cost-effective first-pass exploration drilling in-house.

We seek Safe Harbor.