News Release: May 26th, 2006
Drilling Underway 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 four 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:
"Ross River Minerals
Inc. (the "Company") is pleased to announce that drilling
has commenced on its 200 sq. km. El Pulpo property located in
Sinaloa State, Mexico. Drilling will begin on the Papaya gold-silver-copper
target, followed by the La Trucha and Cerro Colorado gold-silver-copper
targets.
Additional soil and geophysical
lines have been cut at the south end of the Papaya grid and east
of the La Langosta grid and east and west of the Cerro Colorado
grid, in an attempt to close off the geophysical and soil geochemistry
anomalies extending beyond the existing grids.
To date the Company has identified
four high grade gold-silver-copper vein targets (Papaya, La Trucha,
El Tiburon and El Sauz), a stockwork gold-silver target (Cerro
Colorado) and two copper-gold porphyry targets (La Langosta/El
Bagre and La Cetolla) on the property, with less than a third
of the property explored to date. Data from the current exploration
program will assist in identifying drill locations for the La
Langosta copper-gold porphyry target. On-going exploration of
the known targets is continuing to discover new mineralized zones."
Almaden currently has thirteen
active joint ventures on sixteen properties. This includes eight
joint venture deals in which other companies are earning an interest
in the Almaden projects by spending, and a regional exploration
program with partner BHP Billiton underway to explore for copper-gold
deposits in Mexico. In addition, Almaden is continuing its aggressive
exploration efforts in Mexico and Canada.
ON BEHALF OF THE BOARD
OF DIRECTORS
Morgan 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.
|
