Mexican Mining

[Ed Monton]

ALMADEN MINERALS LTD.

TSX SYMBOL: AMM

JANUARY 8, 2004 - 14:03 ET

Almaden Minerals Ltd.: Progress Report on the El Pulpo
Project, Mexico

VANCOUVER, BRITISH COLUMBIA--The El Pulpo property is located
north-east of Mazatlan and covers an area of approximately 200
square kilometres. Almaden Minerals Ltd. (Almaden) has optioned
this property to Ross River Minerals Ltd. (Ross River) who can
earn a 60% interest by spending US$3,000,000 and issuing 425,000
shares to Almaden. Almaden and Ross River have identified high
grade porphyry related gold, silver and copper mineralisation
over a surface area in excess of 12 square kilometres. The
property hosts at least two copper-gold porphyry targets and
three high grade gold vein targets. Ross River has provided the
company with the following results in the form of a news release,
an excerpt from which follows:

"Ross River Minerals Inc. (the 'Company') is pleased to report
that the 2003 field season concluded with the Company completing
9.5 kilometres of new trail construction and expanding the
already extensive Papaya and La Trucha vein systems on the
Company's property located in Sinaloa State, Mexico. In addition,
the Company discovered seventeen new mineralized veins. Of these,
seven have greater than 300 metres of strike length traced to
date. All seventeen remain open along strike.

The new 1.5 kilometre access trail to the La Trucha target passed
through a well-mineralized new area (La Plancha) which shows very
strong tourmaline-quartz-copper oxide and sulfide mineralization
in five shallow dipping veins, one of which has 2.0 metres of
exposed width. Four other veins have been identified in this area
with lesser-exposed widths but with equally strong
mineralization. A total of 37 rock samples were collected from
the La Plancha area. The values ranged from trace to 7.68 g/t
gold, trace to 1,531.1 g/t silver and trace to )10% copper. 30%
of the samples analysed greater than 0.3 g/t gold and were
re-assayed. The highest value was from a 0.4 metres wide
tourmaline-quartz vein which contained 7.68 g/t gold, 1289.3 g/t
silver, and 10% )Cu.

At the La Trucha target 500 metres of trenching using a Cat D7E
bulldozer has been completed to date. The southerly vein
('F'vein), was cut in two locations and showed strong fracturing
and faulting within tourmaline-quartz veining and copper oxides.
Assay results are pending. Further trenching using a tracked
excavator will commence mid January 2004.

Exploration at the Papaya target included 1,200 metres of trail
rehabilitation and over 350 metres of trenching at two locations
in the down-dip (western) direction of the vein. At the northern
location (Papaya Norte) the 40 degrees dipping quartz-tourmaline
vein was exposed over 7 metres width. At the southern trenched
area (Papaya Sur), 350 metres south of Papaya Norte, five
subparallel veins identified to date, ranging from 0.1 to 1.5
metres wide, occur on the footwall (east) side of the 10 metre
wide main vein. Assays are pending. A newly discovered vein
(Pitayo) has been found 200 metres southeast of the trenched
Papaya Sur zone. The Pitayo vein appears to be subparallel to the
Papaya vein and is exposed over greater than 4.0 metres width.
Six other veins identified to date with lesser-exposed widths
were discovered during trail access construction. Two of these
veins are observed to be crosscutting and exhibit extensive
copper and iron oxides. Assays are pending.

During January, as development of the 2 kilometre access trail
along the Papaya vein continues, trenching to expose the full
width of these veins will take place. Over 1,000 metres of
reconnaissance geological mapping and rock sampling along the
proposed trail/trench has revealed five mineralized areas to
date, one of which includes the previously reported high gold
value of 144.35 g/t gold, 231.1 g/t silver and 1.67% copper.

The Company has discovered a new zone (El Sauz), extending 1.6
kilometres north of the Papaya target, of
tourmaline-quartz-copper oxide vein mineralization. A total of 26
samples were collected and analysed. Of these 46% contained
greater than 0.3 g/t gold and were re-assayed. Values range from
trace to 10.37 g/t gold, 0.15 g/t to 404.9 g/t silver, 0.02% to
2.21% copper. The highest assay from outcrop returned values of
10.37 g/t gold, 348.5 g/t silver, and 2.21% copper across 0.5
metres of exposed vein. The full vein width remains to be
delineated.

In addition, during geological reconnaissance, a float sample of
massive sulfide was found in a creek bed in the El Sauz area near
the La Trucha and La Plancha drainage divide. The float sample
returned values of 42.56 g/t gold, 4,737.3 g/t silver and, )10%
copper. Its geochemistry is similar to other veins in the La
Trucha area, however the source of this float has yet to be
discovered. The Company's 2004 exploration program on the Papaya
and La Trucha targets has commenced and will consist of 111.5
line kilometres of line cutting, soil geochemistry and Induced
Polarization and magnetometer geophysical surveys. In late
January airborne photography covering the 200 square kilometre El
Pulpo property will be completed followed by production of
orthophoto and topographic maps and structural interpretation.
Upon completion of the trail along the Papaya vein zone, further
excavator trenching of the La Trucha and Papaya vein systems will
follow. Following the completion of this work, targets will be
defined and diamond drilling will commence on both the Papaya and
La Trucha vein systems.

Paul Kallock P.Geo. is the qualified person supervising the work
in this area. Assays are pending for 113 new rock samples
submitted to Acme Analytical Laboratories Ltd., Vancouver, BC."

Almaden believes these results to be very encouraging and are
representative of a large gold bearing intrusive hosted vein
system. Almaden currently has ten active joint ventures covering
12 properties, including seven properties in which partners are
spending to earn an interest in the project and a regional
exploration program with partner BHP Billiton underway to explore
for copper-gold deposits in Mexico.

ON BEHALF OF THE BOARD OF DIRECTORS

Morgan J. Poliquin, M.Sc., P.Eng., Director

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.

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FOR FURTHER INFORMATION PLEASE CONTACT:
Almaden Minerals Ltd.
Morgan J. Poliquin, M.Sc., P.Eng.
Director
[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.