News Release: September 5th, 2002 Private Placement Almaden Minerals Ltd. (the "Company") announces, subject to Toronto Stock Exchange approval, a Private Placement of 1,650,000 Units at a price of $0.55 per Unit, each Unit consisting of one (1) common share and one (1) purchase warrant with each whole warrant entitling the holder to purchase one (1) additional common share of the Company at a price of $0.60 during the first year and $0.70 during the second year. For additional information, please contact Duane Poliquin, President (604) 689-7644. 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.