Almaden Signs Option Agreement With Zenith Industries
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 18, 2007) - Almaden
Minerals Ltd. ("Almaden") (TSX:AMM)(AMEX:AAU) is pleased to announce
that it has signed an option agreement with Zenith Industries Corp.
("ZIN") (TSX VENTURE:ZIN.PCGH) whereby ZIN can acquire a 60% interest
in Almaden's Nicoamen River project, British Columbia. Under the terms
of the agreement ZIN can acquire the 60% interest in the project by
issuing 1 Million shares of ZIN and spending $4.0 Million on the
project over a five year period, after which time the two parties shall
each fund their pro rata share of all costs required in connection with
ongoing development and mining operations.
The 2607 hectare Nicoamen River property lies over the
headwaters of the Nicoamen River which drains west into the Fraser
River and is within the Spences Bridge Gold belt. It was staked by
Almaden after a Company crew found mineralized gold bearing quartz
float with epithermal textures within in the property area. Subsequent
property work identified a number of significant gold in soil anomalies
and these have not yet been investigated.
"We are very pleased to be partnered with Zenith Industries
Corp. to explore our Nicoamen River project which has the potential to
host a significant epithermal gold deposit." commented J.D. Poliquin,
Chairman and CEO of Almaden.
Morgan Poliquin, P. Eng., a director of Almaden and a qualified
person under the meaning of National Instrument 43-101, reviewed the
technical information reported in this news release.
On Behalf of the Board of Directors
Morgan J. Poliquin, M.Sc., P.Eng., President, COO 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Almaden Minerals Ltd.
Morgan J. Poliquin, M.Sc., P.Eng.
President, COO and Director
(604) 689-7644
(604) 689-7645 (FAX)
