News Release: December 18th, 2003 Progress Report on the El Pulpo Project, Mexico The El Pulpo property is located north-east of Mazatlan and covers an area of approximately 200 square kilometres. Almaden Minerals Ltd. (Almaden) has optioned this property to Ross River Minerals Ltd. (Ross River) who can earn a 60% interest by spending US$3,000,000 and issuing 425,000 shares to Almaden. Almaden and Ross River have identified high grade porphyry related gold, silver and copper mineralisation over a surface area in excess of 12 square kilometres. The property hosts at least two copper-gold porphyry targets and three high grade gold vein targets. Ross River has provided the company with the following results in the form of a news release, an excerpt from which follows: "Continued geological mapping and sampling of the La Langosta target have outlined a zone of potassic and phyllic alteration covering an area approximately 2.0 kilometres long by 1.5 kilometres wide. A larger propylitic alteration zone occurs outside the phyllic alteration envelope. The potassic core is characterized by secondary biotite and potassic feldspar veining. Outside this zone occurs a quartz-sericite-pyrite alteration (phyllic) envelope and then an outer propylitic altered zone characterized by pervasive chlorite, disseminated pyrite and calcite veinlets. The limits of the propylitic alteration have yet to be defined. These alteration zones remain open to the southwest. From observations of limited outcrop, copper (chalcopyrite and copper oxides) and minor molybdenite mineralization appears to be concentrated within an area of approximately 1,500 metres by 750 metres. The earlier identified El Bagre target lies within the La Langosta porphyry system, within the potassic altered envelope and is characterized by chalcopyrite, copper oxide and minor molybdenite mineralization as veinlets and disseminations. Ross River is still defining the structural controls within this porphyry system. However, the topographic relief, from Rio Frailes to the ridges 750 metres southeast, exposes the mineralized system vertically over 200 metres. This extends from a potassic zone, with chalcopyrite mineralization, near Rio Frailes, in the north, to a topographically higher phyllic altered zone containing secondary iron and copper oxides to the southeast. Preliminary analyses have been received for 24 samples, taken from the initial discovery area of 100 metres by 75 metres, include copper sulphides, mixed copper sulphides and oxides and leached oxide cap. The three sulphide samples have copper grades ranging from 0.79 per cent to 1.02 per cent copper, 89 parts per billion (ppb) to 3,063 ppb gold and 35,434 ppb to 72,717 ppb silver (Note: 1,000 ppb is equivalent to 1.0 g/t). There are nine samples of mixed sulphides and oxides of copper ranging from 0.35 per cent to 1.06 per cent copper. Silver values range from 3,658 ppb to 37,387 ppb silver, and gold values range from 37 ppb to 324 ppb gold. Twelve samples from the leached oxide cap, as would be expected, have lower copper values ranging from 91 ppm to 2,121 ppm copper, gold values ranging from 12 ppb to 1,038 ppb gold, and silver values ranging from 210 ppb to over the upper detection limit of 99,999 ppb silver. The company is awaiting additional follow-up assays and is very pleased by these preliminary results outlining a large porphyry target area with significant copper, silver and gold values. To date a total of 54 rock samples has been taken at La Langosta. Victor Jaramillo, P.Geo, is the qualified person supervising work in this area." Ross River has informed Almaden that Acme Analytical Laboratories Ltd. in Vancouver carried out the analyses reported. Almaden believes these results to be very encouraging and are representative of a large gold bearing intrusive hosted vein system. Almaden currently has ten active joint ventures covering 12 properties, including seven properties in which partners are spending to earn an interest in the project and a regional exploration program with partner BHP Billiton underway to explore for copper-gold deposits in Mexico.   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.