News Summary
On December 15, 2025, Almadex Minerals Ltd. announced the commencement of a scout exploration diamond drill program at its wholly-owned New Hope copper-gold porphyry project in Arizona, USA. The company anticipates the initial hole will not be completed before the upcoming Christmas break, with further drilling plans to be formulated based on geological observations in the New Year. Chairman J. Duane Poliquin expressed enthusiasm for drill testing the defined porphyry target using various vectoring techniques.
Concurrently, Almadex granted 350,000 stock options to a director. These options are exercisable at US$0.47 per share, have a five-year term, and expire on December 12, 2030.
Material Impact
The commencement of drilling at the New Hope project is a routine operational milestone that aligns with previously articulated company plans. News from November 7, 2025, indicated intentions to move the drill to New Hope following the Paradise program, and earlier updates (September 3, 2025, and April 23, 2025) had already highlighted an approved drill permit and strong geophysical targets. While execution of the drilling program is positive, there are no immediate results, thus no material impact on the project’s resource potential or the company’s valuation at this stage.
The grant of 350,000 stock options represents a minor dilutive event, equating to approximately 0.57% of the 61.18 million shares outstanding. This is a common practice for executive compensation but is inherently dilutive to existing shareholders. The exercise price of US$0.47 (equivalent to roughly CAD$0.64 based on recent exchange rates for financial reporting) is above the current share price of CAD$0.49, implying a premium for the option holder to exercise.
In the context of the company’s broader exploration efforts across numerous projects in the Western USA and the ongoing Ixtaca arbitration, this news is not material. It represents the planned execution of a small part of a much larger, multi-faceted exploration strategy. The market has likely already factored in the expectation of drilling at New Hope given prior announcements. The lack of drilling results means there’s no new information to change the fundamental outlook.
Catalysts
* New Hope Drilling Results: The primary focus will be on the assay results and geological observations from the initial hole at New Hope, expected in the New Year. These results will dictate the subsequent drilling program and could be a significant catalyst.
* Paradise Project Updates: Monitor any further updates or strategic decisions regarding the Paradise project, especially given the disappointing initial drill results (fourth hole lost, anomalous but not significant gold intervals).
* Azucar JV Progress: Look for news on the anticipated first-pass drilling program at the Pilot, Confusion Hills, and Red Ring prospects in Nevada under the option-joint venture agreement with Azucar Minerals.
* Ixtaca Arbitration Update: The arbitration against Mexico for the Ixtaca project royalty, with a claimed $1.06 billion USD in damages, remains a significant, albeit long-term and high-risk, potential catalyst. Updates on the arbitration calendar and proceedings will be important.
* Generative Exploration Updates: Continued news flow on the advancement of other early-stage projects (e.g., Rattlesnake, Ruby Hill, Red Antler, Bald Valley, White Plains, Big Sky, King, Tierra Blanca) from initial staking and sampling to geophysical surveys and potential drill target definition.
* Cash Position: Continued monitoring of the cash burn rate, especially with active drilling programs underway.
Materiality Conclusion
The most recent news is a routine operational announcement. The commencement of drilling at New Hope was anticipated and does not yet provide any new geological data to materially impact the company’s valuation. The stock option grant is a minor dilutive event. Therefore, the news is assessed as routine and neutral, with no immediate material impact on the stock price or long-term outlook.
