Company Web Site: almadenminerals.com

(NI) 43-101 reports from projects located in: Canada (CA)

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GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-03-12

Project/Deposit	CC	MVpSh	PP%	MI%	I%	Gold
Elk (Siwash)	CA	$11.10	0	58%	42%	497.82 K oz
GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Mar-12
Metric / Metal						Gold
Metal Totals						497.82 K oz
Metal Prices in US$ (from 2010-03-12)						$1,102.60 per oz
Metal Value per Share (MVpSh) (Shown in US$ and based on fully diluted share count shown below)						$11.10
Percentage of Total Metal Value						100.00%
PP% | MI% | I%						0 | 58% | 42%
GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Mar-12
Metal Value per Share (MVpSh)						US$11.10
Average Ore Value per Tonne						US$317.65
Metal Value Leverage (MVL)						12.29
Market Capitalization as % of Metal Value						8.1%
Recent Stock Price						C$0.92   (TSX/TSXV close on 2010-03-12.)   Conversion rate used: 1 Cnd$ = 0.982172 US$ )
Fully Diluted Share Count						49.44 M    ( Company web site shows the fully diluated shares as of June 15th, 2008. )
PP% | MI% | I%						0 | 58% | 42%
Gold Metrics-- all Projects/Deposits
Average Gold Ore Grade						8.961 g/t
Market Capitalization     per oz of Gold In Ground						$89.73   US$  |   91.36   C$
Gold Eq Oz Estimate						497.82 K oz   ( 497.82 K oz are in ground)
Market Capitalization     per oz of Gold Equilavent						$89.73   US$  |   91.36   C$
See terms for more about GoldMinerPulse metrics.

Additional Notes:

AMM Mineral Properties    -   Source: Consolidated Financial Statements of Almaden Minerals Ltd. 2nd Quarter Ended June 30, 2008 (p. 11 of 21)

Mineral properities owned by AMM, but for which we have not found an NI 43-101 complaint resource or reserve estimate, include:

• Caballo Blanco, Mexico (exploration being conducted by Canadian Gold Hunter (CGH on TSE))
• Viky, Mexico (exploration being conducted by Apex Silver Mines Limited (SIL on AMEX))
• Tuligtic, Mexico (exploration being conducted by Pinnacle Mines Ltd. (PNL on TSX))
• Fuego, Mexico (exploration abandoned by Horseshoe Gold Mining Inc. (HSX on TSX))
• San Carlos, Mexico
• Yago, Mexico
• Merit and Brookmere, Canada (exploration being conducted by Williams Creek Explorations Limited (WCX on TSX))
• Nicoamen River, Canada (exploration being conducted by Zenith Industries Corp. (ZIN on TSX))
• Skoonka Creek, Canada (exploration being conducted by Strongbow Exploration Inc. (SBW on TSX))

 

GoldMinerPulse Coverage Status:

• GoldMinerPulse coverage of Almaden Minerals Ltd. is complete pending a final internal review.

(NI) 43-101 Report:

Title: 2007 UPDATE OF RESOURCE SIWASH PROJECT ELK PROPERTY For Almaden Minerals Ltd.
Date: 2007-11-30 (63 pages)

Project Location: British Columbia, Canada

Map View: View project on Google Map.

Most Optimistic Resource Estimates (MORE):

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$6.39	286.72 K oz	9.887 g/t	902.00 K t
Estimate notes: See NI 43-101 p. 6 of 63 1 g/t of gold cutoff

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$4.71	211.10 K oz	7.949 g/t	826.00 K t
Estimate notes: See NI 43-101 p. 6 of 63 1 g/t of gold cutoff