Almaden Minerals Ltd (AMM)

[Ed Monton]

Almaden intersects high grade gold

ALMADEN MINERALS LTD.

TSX SYMBOL: AMM

DECEMBER 23, 2003 - 16:58 ET

Almaden Minerals Ltd.: Drilling Intersects High-Grade
Gold at the Siwash Project, B.C.

VANCOUVER, BRITISH COLUMBIA--In September and October 2003 a
30-hole, 6570-meter diamond drill program was carried out to test
the continuity of mineralisation at the company's wholly owned
Siwash Gold Project. The deposit is located roughly two
kilometres (km) south of Highway 97C and 45 km southeast of
Merritt in the Okanagan area of Southern British Columbia. The
mine is known for its very high gold grades and in the 1990s
51,750 ounces of gold were produced from 18,400 tons of quartz
vein ore extracted from the B vein system in open pit and
underground operations. The Siwash Project presently has an
indicated resource of 87,700 oz (2,727,400 grams) gold in 61,300
tons and a probable reserve of 45,200 oz (1,405,700 grams) gold
in 44,500 tons for a total of 142,000 ounces in 123,000 tons as
calculated in 2000. This resource is developed on the WD and B
vein systems and includes the Deep B shoot on the B vein system
which is located immediately below the existing mine workings and
can be accessed by extending the existing decline approximately
600 metres (m). It contains an inferred resource of 35,600 oz Au
in 12,200 tons grading 2.925 oz/t.

Preliminary results have been returned from the lab and a summary
of drill intersections returning gold grades greater than 10
grams per tonne (0.29 ounces per ton) are listed below. True
widths are calculated to a minimum width of 0.5 meters based on
core to vein angles and weighted according to width and specific
gravity.

 
  
                                         True 
                    Sample      Averaged  Wid-          Grades over 
                  Interval      Interval   th       Average True Width 
        Vein ----------------------------------------------------------- 
 Hole    Sys-  From     To   From     To  met-    Au    Au     Ag     Ag 
 Number  tem     (m)    (m)    (m)    (m) ers   (g/t)(oz/t)  (g/t) (oz/t) 
 ----------------------------------------------------------------------- 
 SND03337 WD 253.30 253.60 253.12 254.30 1.00  28.25 0.824 125.07  3.648 
 ----------------------------------------------------------------------- 
 SND03338  B  32.15  32.45  31.89  32.45 0.50  16.96 0.495  10.10  0.295 
 ----------------------------------------------------------------------- 
 SND03339  B  44.20  44.70  44.20  44.71 0.50  22.60 0.659  31.58  0.921 
 ----------------------------------------------------------------------- 
 SND03339  B 136.60 136.90 136.36 136.90 0.50  11.90 0.347   4.13  0.121 
 ----------------------------------------------------------------------- 
 SND03340  B  50.10  50.40  49.89  50.40 0.50  24.91 0.726   7.12  0.208 
 ----------------------------------------------------------------------- 
 SND03340 WD 267.92 268.48 267.92 269.07 1.00  11.47 0.335  35.12  1.024 
 ----------------------------------------------------------------------- 
 SND03341  B  51.05  51.48  50.97  51.48 0.50  78.56 2.291  38.83  1.133 
 ----------------------------------------------------------------------- 
 SND03343  B  95.60  96.70  95.60  96.75 1.00  33.18 0.968  73.10  2.132 
 ----------------------------------------------------------------------- 
 SND03343  B  54.65  55.00  54.65  55.16 0.50  18.23 0.532  38.91  1.135 
 ----------------------------------------------------------------------- 
 SND03346  B  36.82  37.12  36.61  37.12 0.50  23.81 0.694  54.80  1.598 
 ----------------------------------------------------------------------- 
 SND03346 WD 152.75 153.80 152.75 153.91 1.00  15.90 0.464  87.07  2.539 
 ----------------------------------------------------------------------- 
 SND03347 WD 202.88 203.64 202.88 204.10 1.00  27.79 0.810  49.97  1.458 
 ----------------------------------------------------------------------- 
 SND03348 WD 139.23 139.55 139.23 140.15 0.50  35.09 1.023  52.76  1.539 
 ----------------------------------------------------------------------- 
 SND03354 WD 274.48 274.82 274.30 274.82 0.50 219.96 6.415 354.42 10.337 
 ----------------------------------------------------------------------- 
 SND03357  B  43.50  43.80  43.29  43.80 0.50  29.84 0.870  11.39  0.332 
 ----------------------------------------------------------------------- 
 SND03358 WD 337.38 337.70 336.29 337.71 1.20  11.88 0.346  36.64  1.069 
 ----------------------------------------------------------------------- 
 SND03359  B  43.40  43.90  43.30  43.90 0.60  19.11 0.558   8.15  0.238 
 ----------------------------------------------------------------------- 
 SND03361 WD 119.50 119.80 119.28 119.80 0.50  11.06 0.323   7.77  0.227 
 ----------------------------------------------------------------------- 
 SND03364 WD 196.70 197.70 196.57 197.70 0.80  16.14 0.471  44.40  1.295 
 ----------------------------------------------------------------------- 
 SND03365 WD 172.20 173.05 171.64 173.10 1.10  10.09 0.294  21.73  0.634 
 ----------------------------------------------------------------------- 
  
 Note: g/t signifies grams per tonne ; oz/t signifies ounces per ton 
  
 

-------------------------------



Four vein systems have been identified and drilled in the Siwash
area: the B system with a strike length of 900 m has been tested
down dip to 320 m; the WD zone with a strike length of 650 m has
been tested to 370 m down dip; the GCW zone with a strike length
of 300 m has been tested to 130 m down dip and the Bullion Creek
(BC) zone which has been tested with two holes to a depth of 75
m.

The 2003 program extended the known perimeter of the WD zone in
50-meter step-outs from the existing drill grid both along strike
and down dip. Six fill-in holes were drilled between existing
50-meter fences at the end of the program to confirm continuity
of the structure and grade. Except for one hole that intersected
an andesite dyke at the projected WD zone location, all holes
returned good vein intersections. A new resource estimate
incorporating results from the 2002 and 2003 drill programs, and
complying with National Instrument 43-101 requirements, will be
calculated by Giroux Consultants Ltd..

In 2001 a possible extension to the B and WD vein systems was
found by trenching roughly two km along strike to the east, on
the other side of an area of overburden cover. Grab samples of
the vein material taken at surface returned averaged analyses of
0.922 oz/ton (31.6 grams/tonne) gold and 3.04 oz/ton silver
(104.4 grams/tonne). A 0.5 by 0.5 m panel sample of the same vein
taken in the wall of the trench returned 0.635 oz/ton gold (21.8
grams/tonne) and 0.96 oz/ton (32.9 grams/tonne) silver. This
discovery was extremely significant as it adds two kilometres of
prospective, unexplored strike length to the high-grade vein
system.

Knight Piesold Ltd. has been contracted to review options for
tailings and mill sites in the Siwash area. Knight Piesold Ltd.
is also carrying out dilution studies to determine pump rates and
a time frame for dewatering the Siwash open pit and underground
workings.

The qualified person and supervisor for the 2003 exploration
drill program is Wojtek Jakubowski, P. Geo. All samples were
analyzed at Acme Analytical Labs in Vancouver using wet
geochemical, fire assay and metallics techniques. Duplicate and
blank samples were included in the sample shipments sent to Acme
and confirmed procedural quality. Check assays were carried out
by ALS Chemex Labs in Vancouver.

ON BEHALF OF THE BOARD OF DIRECTORS

J. Duane Poliquin, President

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.


-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Almaden Minerals Ltd.
J. Duane Poliquin
President
[phone]
[phone] (FAX)
Website: www.almadenminerals.com
The Toronto Stock Exchange has not reviewed nor accepted
responsibility for the adequacy or accuracy of the contents of
this news release which has been prepared by management.