Mr. Douglas McDonald reports

ALMADEN PROVIDES UPDATE ON ARBITRATION PROCESS WITH MEXICO

Almaden Minerals Ltd. has provided an update on the international arbitration proceedings (the claim) under the comprehensive and progressive agreement for Trans-Pacific Partnership (CPTPP) with the United Mexican States (Mexico).

Almaden is pursuing this claim together with Almadex Minerals Ltd., on behalf of themselves and their Mexican subsidiaries (the claimants). Prior to the illegal acts of Mexico, which resulted in the complete loss of the investment, Almaden held 100 per cent of the Ixtaca precious metals project in Mexico, while Almadex held a 2.0-per-cent NSR (net smelter returns) royalty on the project.

The claimants have been informed by the tribunal that the dates for the hearing have been rescheduled from December, 2026, to July, 2027. The purpose of the delay is to extend the hearing from six to up to 10 days, so as to provide sufficient time for examination of all fact witnesses and experts. The new dates in July are the first that the tribunal can accommodate.

While the company is disappointed by the delay, it is encouraged that the additional time will enable better presentation of its case.

The company further announces the renewal of its shareholder rights plan, as approved by shareholders at the company's last annual general and special meeting held on June 25, 2026.

In addition, pursuant to its stock option plan, the company has granted stock options to a director of the company to purchase an aggregate 800,000 common shares in the capital of the company at an exercise price of 27 cents per share expiring on Aug. 13, 2031.

We seek Safe Harbor.