Almadex Sells Royalty Portfolio to Empress for $2.5M

Almadex Minerals Ltd. (TSX-V: DEX) agreed to sell a portfolio of net smelter return royalties on mineral properties in Canada, the U.S. and Mexico to Empress Royalty Corp. for US$2.5 million in total consideration.

The deal includes US$1 million in cash and 2,562,802 Empress common shares valued at US$1.5 million. The royalties cover 1.5% and 2.0% net smelter return stakes on precious and base metal projects in Mexico, British Columbia, Yukon and Nevada.

Closing depends on standard conditions – third-party consents, TSX Venture Exchange approval for the Empress share issuance, and the applicable regulatory nods. The Empress shares Almadex receives will carry a four-month-and-one-day statutory hold period under Canadian securities law.

Almadex is a Vancouver-based explorer focused on base and precious metals in the western U.S. The company owns several portable diamond drill rigs, which it uses to run first-pass exploration drilling in-house at lower cost.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.