News Release: August 25th, 2005
Bufa Project, Mexico optioned
to Lincoln Gold Corp.
Almaden Minerals Ltd. ("Almaden")
is pleased to announce that is has optioned its 100% owned Bufa
project located in Chihuahua State, Mexico to Lincoln Gold Corp
("Lincoln") a public company listed in the United States.
Lincoln may acquire a 60% interest in the Bufa project by spending
US$3 Million on the property and issuing 450,000 shares of Lincoln
to Almaden. Lincoln is commited to spend US$100,000 in the first
year and must issue 50,000 shares upon exchange approval. Should
the Bufa property enter production Lincoln must issue a further
100,000 shares to Almaden.
The Bufa property, owned 100% by Almaden,
surrounds the town and mining camp of Guadalupe y Calvo. Gold
was discovered at Guadalupe y Calvo in 1835 with extended periods
of production up to 1939. The district is one of the most prolific
gold-silver areas in Chihuahua mining history. In 1900, the Del
Rosario vein was considered by the U.S. Geological Survey as
"one of the largest gold producing quartz veins of the world."
A mint was constructed on site by the Mexican Government in 1844.
In 1981 renowned geologist Larry Buchanan estimated historic
production at 2 million ounces of gold and 28 million ounces
of silver at average grades of 37 g/t gold and 870 g/t silver.
Recent work by a third party has demonstrated that the vein system
extends from the historic production area onto the Bufa property
with an estimated strike length of approximately 1700 meters.
In 2004, it was reported by Caelles and King, qualified persons
under the meaning of National Instrument 43-101, that the vein
system consists of a series of NW-SE striking, banded and brecciated,
low sulphidation epithermal quartz veins that vary in strike
length from 200 to 700 meters, with an aggregate length for all
veins of 3.9 kilometers. Widths of the veins vary from 1 to 7.8
meters in true thickness. A recent small core-drilling program
on the Bufa property encountered multiple veins, some with ore-grade
gold-silver intercepts with attending lead and zinc. Samples
were sent to ALS Chemex Labs in North Vancouver for analyses
using conventional fire assay, and inductively coupled plasma
atomic emission spectroscopy (ICP).
Almaden is excited to have Lincoln exploring the Bufa property
which has demonstrated potential for significant gold-silver
mineralisation. Lincoln has a strong geologic team and plans
to initiate work promptly.
Almaden currently has 15 active joint venture projects including
10 in which a partner is earning an interest in an Almaden property
through spending, and two regional exploration joint ventures,
one with BHP Billiton World Exploration Inc. ("BHPB")
to explore for copper-gold deposits in Mexico and one with Japan
Oil, Gas and Metals National Corporation ("JOGMEC")
to explore for base metal deposits in Mexico.
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.
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