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July 29th, 2003 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 reported initial results from a large sampling and mapping program that was completed on the project in May, 2003. In this program several vein systems were identified and sampled including the Papaya and Trucha areas. Ross River has reported that the Papaya vein system has been traced over 2 kilometers. In the initial discovery area a three meter chip sample returned values of 3.64 g/t gold, 115.5 g/t silver and 0.72 % copper. Ross River has reported that the vein was identified 1.0 to 1.3 kilometers along strike where grab samples taken have returned anomalous values as high as 144.35 g/t gold and 1.67% copper. On the Trucha vein system located 2 kilometers north of the Papaya area, Ross River has reported that the mineralized zone explored so far is 1,200 metres long and 850 metres wide within which six veins have been recognized. The discovery showing occurs on a ridge and consists of sub-outcrop of quartz-tourmaline veining exhibiting hematite and copper oxides and is three metres wide. Ross River has reported analyses from two new grab samples taken across the width of the showing which assayed 37.35 g/t gold, 358.10 g/t silver, 0.96% copper and 39.81 g/t gold, 578.50 g/t silver, 1.71% copper respectively. Twenty-five metres along strike to the southwest, a third sample taken by Ross River across four metres of the same vein assayed 6.90 g/t gold, 109.90 g/t silver, 1.31% copper. Two grab samples taken by Ross River from a second vein fifty-five metres to the southwest, exposed over four metres, assayed 5.94 g/t gold, 183.20 g/t silver, 0.73 % copper and 6.52 g/t gold, 815.70 g/t silver, 1.16% copper respectively. An additional concession, roughly 100 square kilometres in size, has been acquired to cover a recently discovered area of extensive surface mineralization associated with quartz and quartz-tourmaline veins, vein stockworks and breccias, centered within a three square kilometre zone. This new concession now forms part of the El Pulpo property and is subject to the terms and conditions of the option agreement between Ross River and Almaden. During initial prospecting of this area 24 samples were collected. Of these, 18 samples had gold values ranging from 0.15 g/t gold to 2.32 g/t gold with an average of 0.61 g/t gold; silver values ranged from 13.70 g/t silver to 296.20 g/t silver with an average of 109.70 g/t silver; copper values ranged from 0.02% copper to 3.53% copper with an average of 1.33% copper. Satellite imagery also indicates that linear features outlining the structural zone associated with the Papaya veins extend at least seven kilometres into this new concession. Paul Kallock B.Sc., P.Geo., a qualified person under the meaning of National Instrument 43-101, verified the sampling techniques of Ross River at these locations and analyses were completed by Acme Analytical Laboratories and ALS Chemex in Vancouver, B.C. The company believes these results to be very encouraging and are representative of a large gold bearing intrusive hosted vein system. Further results are expected to be received be Ross River shortly. Almaden currently has eight active joint venture projects which include a regional exploration program with partner BHP Billiton underway to explore for copper-gold deposits in Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS 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. |