VANCOUVER, British Columbia, May 18, 2018 — Almadex Minerals Limited (“Old Almadex”) is pleased to announce that it has closed the previously announced statutory plan of arrangement (the “Plan of Arrangement”) under Section 288 of the
Business Corporations Act (British Columbia) to spin-out Old Almadex’s early stage exploration projects, royalty interests, and certain other assets into Almadex Minerals Ltd. (formerly 1154229 B.C. Ltd.) (“New Almadex”) effective at 12:01 a.m. on
May 18, 2018 (the “Effective Time”). At the Effective Time, Old Almadex changed its name from Almadex Minerals Limited to Azucar Minerals Ltd. (“Azucar”) (TSX-V:AMZ) (OTCQX:AXDDF), and New Almadex changed its name from 1154229 B.C. Ltd.
to Almadex Minerals Ltd.