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July 18, 2014
12:02 EDTAAUAlmaden Minerals trading halted, pending news
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October 21, 2014
06:15 EDTAAUAlmaden Minerals announces spin-out of mineral exploration assets, royalties
Almaden Minerals announced that its board has unanimously approved a strategic reorganization of its business. Almaden's early stage exploration projects, royalty interests and certain other non-core assets will be transferred to a newly incorporated company. Shareholders of the company will receive shares in Spinco in proportion to their shareholdings in Almaden. There will be no change to shareholders' existing interests in the company. It is intended that, as part of the reorganization, Almaden's current shareholders will receive shares of Spinco by way of a share exchange, pursuant to which each existing share of Almaden is exchanged for one "new" share of Almaden and 0.6 of a share of Spinco. This exchange is intended to be taxed in a manner similar to a return of capital on the shares of Almaden. Warrantholders of Almaden will receive warrants of Spinco which are proportionate to, and reflective of the terms of, their existing warrants. The reorganization will be effected by way of a plan of arrangement under the Business Corporations Act, and must be approved by the Supreme Court of British Columbia and by the affirmative vote of 66 2/3% of Almaden's shareholders in attendance at a shareholders' meeting. The company intends to apply for a listing of the shares of Spinco on the TSX Venture Exchange. Any such listing will be subject to Spinco fulfilling all of the requirements of the TSX-V. The company is undertaking the reorganization in order to focus on the development of its Ixtaca gold-silver deposit. The Ixtaca deposit is part of the Tuligtic project, comprising approximately 15,000 hectares, located in the state of Puebla, Mexico. The spin-out transaction should also maximize shareholder value by allowing the market to value the company's flagship Ixtaca gold-silver deposit independently of its early stage mineral exploration and royalty business. In addition to allowing the company to continue to focus efforts on developing Ixtaca, the company is confident that having a separately funded and managed mineral exploration and royalty business will accelerate development of these exploration projects and give scope for new acquisitions. Spinco will be managed by Almaden's current team of officers. Its board will include directors who are independent of Almaden.

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