News Release: February 11th, 2002 The Amalgamation of Fairfield Minerals Ltd. and Almaden Resources Corp. has been completed to form Almaden Minerals Ltd. (AMM on the TSE). The business model of Almaden Minerals Ltd. (Almaden) will continue with the core values of the predecessor companies, Almaden Resources Corp. and Fairfield Minerals Ltd., of using geologic expertise, cutting-edge technology, and the company's grassroots exploration talent to acquire early-stage mineral properties with world class ore-body potential. The corporate strategy of Almaden is to develop these mineral properties using our technical capability in order to increase their value and demonstrate the possibility of discovering an economic ore deposit. This work is directed towards forming a joint venture of the exploration of the mineral property with another company. This exposes Almaden to the wealth creation of discovery, significantly minimizing the risk through a carried interest in the project, and if possible an equity interest in the joint venture partner. The management has a proven track record of success in implementing this business model by generating new high potential projects and forming joint ventures to advance them. At present the company is at a very successful stage in this business model with five projects joint ventured and being developed by other companies. In addition the new company will have a 30% interest in a world-class diamond project to be drilled in March, 2002 and a 100% interest in both a high-grade gold resource in Canada (the Siwash gold deposit) and a gold-silver vein system in Mexico (the Yago project). The Siwash gold deposit has produced 51,753 oz Au from 18,414 tons, and a significant resource remains. Almaden Minerals Ltd. will continue to focus on identifying and acquiring projects with potential for world-class ore deposits, demonstrating that potential with the company's technical expertise and finding joint venture partners to carry the exploration risk and expose the company to the wealth of discovery. The following are the company's key projects and the plans for work in the immediate future. Lac de Gras Diamond Project, Canada Almaden has a 30% interest in this project. Airborne geophysical anomalies associated with indicator mineral train are to be drilled in March, 2002. Located between the Diavik and Snap Lake deposits, NWT, Canada. Caballo Blanco Cu-Au Porphyry Project, Mexico Optioned to Noranda Inc. which can earn 75% interest by making $US2M in payments and funding project to positive feasibility. A 3000 metre drill program is planned by Noranda for March, 2002. Yago Au-Ag Vein Project, Mexico A 100% owned high-grade vein system with past production of greater than 100,000 oz gold. Drill targets are defined underneath known shallow mineralisation. No previous drilling has been carried out. The company is exploring joint venture opportunities for the Yago project. Siwash gold Vein Deposit, Canada. 100% held gold project. 51,753 oz Au were mined from 18,414 tons (avg. grade of 2.8 oz/ton). A significant resource remains and a new economic study is underway. Development drilling is planned for 2002. San Carlos Cu-Au Porphyry-Skarn Project, Mexico Optioned to Aurcana Corporation (CDNX) who must spend $US4M and give Almaden 300,000 shares to earn 60% interest. Historic mining was carried out on high-grade Cu-Au skarns associated with a large unexplored Cu-Au porphyry system. Aurcana has completed a large geochemical and geophysical program in December 2001. Almaden has to date received 200,000 shares of Aurcana. Tropico Cu-Pt-Pd-Au Project, Mexico Optioned to Santoy Resources Ltd. (CDNX) and Sumitomo Metal Mining Corporation of Japan. The property covers a large ultramafic intrusive complex with significant Cu-Pt-Pd values in trenches. Almaden is carried into production for a 12% interest and has received 275,000 shares of Santoy. Sumitomo is committed to spend $US600,000 by March, 2002 and has completed a diamond drill program from which results are pending. Ram Au Project, Canada Au project, Yukon. Optioned to Ross River Gold (private). La Gitana Au-Ag Vein Project, Mexico High-grade vein system optioned to Copper Ridge Explorations Inc. (CDNX) Galeana Au-Ag Vein Project, Mexico Au-Ag high-grade vein system Mexico. Greater than 100,000 oz Au produced from shallow workings. No previous drilling. The company is exploring joint venture opportunities on the Galeana project.   ON BEHALF OF THE BOARD OF DIRECTORS Duane Poliquin 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. 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.