Mr. Duane Poliquin reports

ALMADEX PROVIDES EXPLORATION UPDATE

Earlier this month, Almadex Minerals Ltd. commenced drilling on two projects: Davis/Paradise in Nevada and San Pedro in Mexico. Drilling continues at San Pedro, however, cold temperatures and snow fall have curtailed drilling at Davis/Paradise after completion of the first hole. The company's Nevada-based drill has been moved elsewhere for a short end-of-year contract. It is hoped that drilling can resume at Davis/Paradise early in 2023.

Morgan J. Poliquin, PhD, PEng, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical contents of this new release.

About Almadex Minerals Ltd.

Almadex Minerals is an exploration company that holds a large mineral portfolio consisting of exploration projects and NSR (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.

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