Almadex Commences Drilling at the King Copper-Gold Porphyry Exploration Target, Colorado

VANCOUVER, British Columbia, Aug. 25, 2026 (GLOBE NEWSWIRE) — Almadex Minerals Ltd. (“Almadex” or the “Company”) (TSX-V: “DEX”) is pleased to announce that it has commenced drilling on its King project in south-central Colorado. The King project covers an area of intense porphyry lithocap and high sulphidation alteration developed in volcanic rocks. This area has also seen historic mining for turquoise. In 2024 geologic and alteration mapping was conducted as well as rock and soil sampling programs. The mapping identified silicification and quartz-alunite alteration over a roughly 3 by 3 km area within which several strong Mo-Cu-Au anomalies were defined. The Company has since carried out induced polarisation (“IP”) and magnetics geophysical surveys along with further mapping. The IP survey in particular helped define drill targets and highlighted a large chargeability feature generally coincident with the area of anomalous geochemistry. This first pass program will commence with an initial hole designed to orient and allow better planning for possible additional drilling to be carried out.

J Duane Poliquin, Chairman of Almadex commented, “We are very excited to have commenced testing this new project in our portfolio which has gone from concept to first pass drilling in two years.”

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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 King drilling project and has reviewed and approved the contents of this news release. The drilling program and core sampling will be carried out under his supervision.

The IP geophysical survey described was carried out using the Company’s in-house equipment, a 5 kW GDD transmitter and Iris Elrec-6 receivers. Pseudo sections were prepared and the data was inverted using RES2DINV software. The magnetics survey was conducted by a third-party contractor using a Geometrics MagArrow Cesium Magnetometer flown under an ArcSky X55 quadcopter. The MagArrow sensor takes 1000 readings per second and is flown at a maximum speed of 8m/second. The sensor is suspended on a 3m lanyard to remove it from the electromagnetic noise of the UAV. Data is down sampled after collection to 10Hz. The MagArrow readings are diurnally corrected via a geometrics G-862RBS Magnetometer, cycling at 10Hz. Geophysical surveys are not definitive, and the results are still at an early stage of interpretation, with no guarantee of a mineral discovery.

Almadex Minerals Ltd. is a mineral exploration company focused on base and precious metals in the western United States. 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.