Almaden Minerals Ltd.: 64.01 Metres Grading 1.02 g/t Gold at Caballo Blanco, Mexico

VANCOUVER, BRITISH COLUMBIA, Jul 31 (MARKET WIRE) --
Almaden Minerals Ltd. ("Almaden", "the Company") (TSX: AMM)(AMEX: AAU) is
pleased to report that it has received additional assay results from the
Cerro la Paila gold target of its Caballo Blanco project in Veracruz,
Mexico from operating partner Canadian Gold Hunter Corp. ("CGH") (TSX:
CGH).

Core hole 08CBN-017 intersected 64.01 metres grading 1.02 g/t Au (grams
gold per metric ton) in iron-oxide-cemented, vuggy silica breccias. The
hole was drilled to 227.99 meters; however assays have only been received
for the top 145.69 metres. 08CBN-012 was drilled to a depth of 227.08
meters, where the hole was abandoned due to a loss of circulation in
cavernous vuggy silica breccias. The bottom 16.77 meters of the hole,
which had very poor core recovery, assayed 3.15 g/t Au, within an
interval that graded 0.99 g/t Au over 61.0 metres.

A number of the holes, including 08CBN-012, 013, 014 and 016, were lost
in mineralized vuggy silica breccias prior to being completed to their
planned depths. Holes 08CBN-014 and 016 were drilled through significant
intervals of unmineralized andesite before encountering silica breccias
with anomalous gold values and then being lost. The last few samples in
each hole had the highest gold grades in the hole. Significant assay
results for 07CBN-012 to 017 are listed in the table below.

--------------------------------------------------------------------------
Depth Interval Width Au Ag
Drill Hole Az/Angle (m) (m)(ii) (m)(ii) g/t g/t
--------------------------------------------------------------------------
08CBN-012(i) 090 227.08 166.12-227.08 60.96 0.99 1.1
degrees/
-50
degrees
including 210.31-227.08 16.77(iii) 3.15 2.9
--------------------------------------------------------------------------
08CBN-013(i) 090 118.26 43.59-118.26 74.67 0.30 2.4
degrees/
-50
including 89.31-118.26 28.95 0.54 3.9
--------------------------------------------------------------------------
08CBN-014(i) 270 103.63 99.06-103.63 4.57 0.25 0.5
degrees/
-70
degrees
--------------------------------------------------------------------------
08CBN-015 090 157.89 124.35-150.27 25.92 0.87 1.4
degrees/
-80
degrees
including 136.55-147.21 10.66 1.41 1.3
--------------------------------------------------------------------------
08CBN016(i) 120 201.17 195.07-201.17 6.10(iii) 0.42 215.0
degrees/
-60
degrees
--------------------------------------------------------------------------
08CBN-017 090 227.99 67.97-131.98 64.01 1.02 1.2
degrees/
-85
degrees
including 105.80-122.53 16.73 2.10 1.7
--------------------------------------------------------------------------

Notes: (i) Hole lost above planned target depth.
(ii) Intervals are core lengths and true widths may be less than
reported here.
(iii) Intervals had very poor core recovery and grades are
unreliable.

The initial phase of drilling in the Northern Zone has been completed.
Nineteen holes totaling 3,446 metres were drilled. The remaining assay
results for the Cerro la Paila target will be released when they are
available. At Cerro la Paila, gold-bearing silica breccias have now been
traced by surface sampling and diamond drilling over a north-south
distance of 750 metres and up to about 350 metres in an east-west
direction. The gold-bearing breccias are up to 150 metres thick; however
on most sections the drill holes were abandoned in mineralized silica
breccia and the true thicknesses are not known. The next phase of
drilling at Cerro la Paila will be completed using a larger rig that will
more capable of drilling deeper holes so that Cerro la Paila can be
tested on 50-metre centres to a depth of at least 300 metres.

Rick Bailes, President of Canadian Gold Hunter, stated, "what is really
encouraging about this first phase of work at Cerro la Paila is that
geophysics, surface sampling and diamond drilling have outlined a large
area underlain by gold-bearing silica breccias. Because of difficult
drilling conditions, we were unable to establish the thickness of the
mineralized breccias on most sections; however, the next phase of diamond
drilling, which is scheduled to start in the late fall, will use larger
drill rigs and will be designed to test the true thickness of the
breccias in order to define a mineral resource."

The two core rigs have been moved from the Cerro la Paila gold zone to
the Central Grid gold-rich porphyry copper zone. Ten holes totaling 3,000
metres are planned at the Central Grid to test coincident geophysical and
geochemical anomalies. Previous drilling intersected 56 metres grading
0.34% copper and 0.84 g/t gold (see Almaden news release dated June 1,
2005).

Under the terms of a 2007 agreement, CGH has an option to earn a 70%
interest in the Caballo Blanco project from Almaden by issuing 1 Million
shares of CGH (completed), making a US$500,000 payment (completed),
spending US$12.0 Million on the project over 6 years (of which US$1.5
Million is a firm commitment) and funding all ongoing costs required for
the completion of a bankable feasibility study.

The geological data in this news release were verified by qualified
person Jan Christoffersen, P. Eng., Vice President of Canadian Gold
Hunter Corp. Appropriate quality control and quality assurance protocols
are utilized on the program. Standard reference samples and various
duplicates are inserted in each batch of assays. Drill core samples are
cut by saw on site and sample splits are shipped for preparation to ALS
Chemex in Guadalajara, Mexico. Sample pulps are sent to ALS Chemex in
North Vancouver, B.C., Canada and analyzed for gold by fire assay and for
silver and 34 other trace and major elements by ICP-MS in accordance with
standard industry practices.

About Almaden

Almaden is a mineral exploration and development company with a track
record of making new discoveries in Canada and Mexico. Almaden currently
has an interest in 22 properties where others are responsible for ongoing
exploration and development. Almaden will continue with its successful
business model of identifying new projects through grass roots
exploration and managing risk by forming joint ventures with partner
companies which then carry the cost of exploring and developing our
projects. Almaden's grass roots exploration programs are designed to
identify new mineral exploration projects in mineral terrains
geologically permissive for world-class ore deposits. Almaden is seeking
partners with the suitable business and geological resources to explore
and assess the potential of these projects through drilling.

On Behalf of the Board of Directors

Morgan J. Poliquin, M.Sc., P.Eng., President, COO and Director

Almaden Minerals Ltd.

Statements contained in this news release that are not historical facts
are forward looking statements as that term is defined in the private
securities litigation reform act of 1995. Such forward -looking
statements are subject to risks and uncertainties which could cause
actual results to differ materially from estimated results. Such risks
and uncertainties are detailed in the Company's filing with the
Securities and Exchange Commission.

The Toronto Stock Exchange and
American Stock Exchanges have not reviewed nor accepted responsibility
for the adequacy or accuracy of the contents of this news release which
has been prepared by management.

Contacts:
Almaden Minerals Ltd.
Morgan J. Poliquin, M.Sc., P.Eng.
President, COO and Director
(604) 689-7644
(604) 698-7645 (FAX)
Website: www.almadenminerals.com

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