Almaden Minerals Ltd.
TSX : AMM
AMEX : AAU

Almaden Minerals Ltd.

December 20, 2006 13:51 ET

Almaden Minerals Ltd. Announces Closing of Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 20, 2006) - Almaden Minerals Ltd. (the "Company") (TSX:AMM)(AMEX:AAU) announces that it has closed a Private Placement of 225,000 Units at a price of $2.90 per Unit. Each Unit will consist of one flow-through common share and one-half of a non-flow-through common share purchase warrant with each whole warrant entitling the holder to purchase for a period of 1 year from the Closing 1 additional non-flow-through common share at a price of $3.00 per share.

A commission of 5% will be paid to National Bank Financial Ltd. for 200,000 of the total Units realized from the placement, payable by way of 4,899 Units and $14,500.00 cash.

The Placement closed December 20, 2006.

ON BEHALF OF THE BOARD OF DIRECTORS

Duane Poliquin, President

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.

The Toronto Stock Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release which has been prepared by management.

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