Almaden Minerals Provides Ixtaca Pre-Feasibility Program and Metallurgical Update

VANCOUVER, BC–(October 31, 2016) – Almaden Minerals Ltd. (“Almaden” or “the Company”)(TSX: AMM) (NYSE MKT: AAU) is pleased to report on the Company’s 100% owned Ixtaca gold-silver deposit located in Puebla State, Mexico and the progress of its on-going Pre-Feasibility (“PFS”) level metallurgical test work program.

The 2016 metallurgical test work has focused on continued optimization of the gravity and flotation concentration circuits, and of leach reagent consumption rates. Results reported today are consistent with the Amended Preliminary Economic Assessment (PEA) overall recovery projections of 90% gold and 90% silver for the limestone domain (see January 22nd, 2016 press release). The limestone domain represents approximately 90% of the total metal produced under the Amended PEA.

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