Business
Almaden Minerals Announces Mexican Federal Government Issues Decree to Temporarily Suspend All Non-Essential Businesses, Including Mining and Exploration, Until April 30, 2020 Due to COVID-19
VANCOUVER, British Columbia, April 01, 2020 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (“Almaden” or “the Company”; AMM: TSX; AAU: NYSE American) announces that
About this update from Almaden Minerals Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, April 01, 2020 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (“Almaden” or “the Company”; AMM: TSX; AAU: NYSE American) announces that the Mexican federal government has mandated that all non-essential businesses, including mining and exploration, temporarily suspend operations until April 30 due to the COVID-19 virus (the “Decree”). As Almaden is pursuing permitting of the Ixtaca project, it has not had an ongoing technical program at the project. Moreover, Almaden has already suspended its activities in order to protect its work force and local communities, and employees at the corporate office and in Mexico have been working from home when possible. Almaden will continue to follow government health protocols and implement additional protocols as may be necessary for the protection of its workforce and local communities, and as contemplated in the Decree will only engage in activities whose suspension may have irreversible effects for the continuance of Almaden’s business. In terms of legal actions and administrative procedures in which the Company is involved in Mexico, Almaden understands from a communication issued by the Judicial authorities that all Court activities in Mexico have been formally suspended until April 20, 2020. It is unclear at this time whether this court suspension will be extended beyond April 20. J. Duane Poliquin, Chairman of Almaden stated: “We recognize the seriousness of this pandemic and have previously taken precautionary measures to protect our employees, their families and local communities. We will continue to monitor the situation closely and urge all of our stakeholders to take the necessary steps against the spread of this virus”. About Almaden Almaden Minerals Ltd. owns 100% of the Ixtaca project in Puebla State, Mexico, subject to a 2.0% NSR royalty held by Almadex Minerals Limited. Almaden discovered the Ixtaca gold-silver deposit in 2010. On Behalf of the Board of Directors “Morgan Poliquin”Morgan J. Poliquin, Ph.D., P.Eng.President, CEO and DirectorAlmaden Minerals Ltd. Forward-Looking Information Certain of the statements and information in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicab...