ALMADEN CLOSES OVERSUBSCRIBED $9.4 MILLION NON-BROKERED PRIVATE PLACEMENT

AAU-06-07-18

Vancouver, B.C. Almaden Minerals Ltd. (“Almaden” or “the Company”; AMM: TSX; AAU: NYSE American) is pleased to announce that it has closed its previously announced non-brokered private placement with the issuance of 9,440,000 units (“Units”) at $1.00 per Unit (the “Offering”). Each Unit consisted of one common share of the Company (a “Common Share”) and one-half of one non-transferable Common Share purchase warrant (each such whole Common Share purchase warrant, a “Warrant”). Each Warrant allows the holder to purchase one Common Share at a price of $1.35 until June 7, 2022. The Warrants are subject to an acceleration provision whereby if, commencing October 8, 2018, the daily volume weighted average trading price of the Common Shares on the Toronto Stock Exchange is higher than $2.00 for 20 consecutive trading days then, on the 20th consecutive trading day of any such
period (the “Acceleration Trigger Date”), the expiry date of the Warrants may be accelerated by the Company to the 30th trading day after the Acceleration Trigger Date by the issuance of a news release announcing such acceleration within three trading days of the Acceleration Trigger Date.

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