News Release: September 2nd, 2003
Optioned to Kobex Resources Ltd.
Almaden Minerals Ltd. (Almaden) is pleased
to announce that it has formed an option agreement with Kobex
Resources Ltd. (Kobex) on 210 claims comprising mineral properties
known as the Mor, Caribou Creek and Cabin Lake properties located
in south central Yukon under the terms of which Kobex can earn
a 50% interest therein from Almaden by expending $50,000 in exploration
by August 31, 2004 and the issuance of 100,000 shares in its
capital to Almaden upon receipt of regulatory approval. In order
to maintain the option in good standing, the Kobex must expend
a further $450,000 on exploration by August 31, 2007 and issue
an additional 300,000 shares of it's capital in installments
of 100,000 shares by August 31, 2005, 2006 and 2007 respectively.
Kobex may earn an additional 10% interest in the property by
expending a further $500,000 by August 31, 2008 and issue 100,000
shares. Upon commencement of commercial production, Kobex would
be required to issue an additional 500,000 shares to Almaden.
The Mor, Caribou Creek and Cabin Lake claims
cover volcanogenic sulphide (VMS) type base and precious metal
occurrences hosted in the prospective Yukon - Tanana Terrane.
Previous work has delineated geochemical and geophysical anomalies.
The properties are underlain by similar geology to that in the
Finlayson Lake district (160 km to the northeast) where several
important volcanogenic massive sulphide deposits have been discovered
Almaden currently has ten active joint venture
projects which including six 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
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