Almaden Minerals Ltd.
TSX : AMM
NYSE Amex : AAU

Almaden Minerals Ltd.

September 08, 2010 17:40 ET

Almaden Minerals Ltd. Announces Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2010) -

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

Almaden Minerals Ltd. (TSX:AMM)(NYSE Amex:AAU) ("Almaden") announces that it has arranged for a brokered private placement with the intent of raising $7,500,000 for ongoing exploration and development activities on Almaden's Mexico projects. The placement will consist of 3,000,000 common shares at $2.50 per Common Share (the "Offering") with a over allotment option of 15 % of the offering to cover over-allotment, if any. 

A 7% cash commission is payable with respect to the Offering. Proceeds from the private placement will be used for ongoing exploration and development of the Mexico projects, including expanding drilling on its Ixtaca project, and for general working capital. The private placement is subject to approval from the TSX Exchange and the NYSE/AMEX.

On Behalf of the Board of Directors

Morgan J. Poliquin, M.Sc., P.Eng., President, CEO and Director

Almaden Minerals Ltd.

Statements contained in this news release that are not historical facts are forward looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward -looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filing with the Securities and Exchange Commission. Except for the statements of historical fact contained herein, certain information presented constitutes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Such forward-looking statements, including but not limited to, those with respect to potential expansion of mineralization, potential size of mineralized zone, and size and timing of exploration and development programs, estimated project capital and other project costs and the timing of submission and receipt and availability of regulatory approvals involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Almaden to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to international operations and joint ventures, the actual results of current exploration activities, conclusions of economic evaluations, uncertainty in the estimation of mineral resources, changes in project parameters as plans continue to be refined, environmental risks and hazards, increased infrastructure and/or operating costs, labour and employment matters, and government regulation and permitting requirements as well as those factors discussed in the section entitled "Risk Factors" in Almaden's Annual Information form and Almaden's latest Form 20-F on file with the United States Securities and Exchange Commission in Washington, D.C. Although Almaden has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Almaden disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required pursuant to applicable securities laws. Accordingly, readers should not place undue reliance on forward-looking statements.

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM. 

Neither the Toronto Stock Exchange (TSX) nor the NYSE AMEX have reviewed or accepted any responsibility for the adequacy or accuracy of the contents of this news release which has been prepared by management.

Contact Information

  • Almaden Minerals Ltd.
    Morgan J. Poliquin, M.Sc., P.Eng.
    President, CEO and Director
    604.689.7644
    604.689.7645 (FAX)
    www.almadenminerals.com