Caballo Blanco Exploration Program To Commence 

VANCOUVER, BC - Almaden Minerals Ltd. reported that Goldgroup Mining Inc. has announced the details of a US$8.5 Million 30,000 metre drilling and exploration program due to commence near the end of September, 2010 on Almaden's 100% owned Caballo Blanco gold project located in Veracruz, Mexico. Goldgroup has an option to acquire a 70% interest in the Caballo Blanco project from Almaden which would be exercised with this proposed program. Almaden would then retain a 30% carried interest in the project, until a bankable feasibility study has been completed by Goldgroup.

Goldgroup reports that the 30,000 metre multi-drill diamond and reverse circulation drill program has been designed to expand and upgrade the current NI 43-101-compliant mineral resource estimate at the La Paila anomaly of the Northern Zone (contained in Goldgroup's NI 43-101 technical report dated March 22, 2010) and to test other highly prospective areas for mineralization, including targets at the Red Valley and Highway zones. The May 22, 2010 technical report addresses only the La Paila area of the Northern Zone where 32 diamond drill holes have defined a mineral resource of 34.3 million tonnes averaging 0.60 g/t Au (139,000 oz Au indicated and 517,000 oz Au inferred; see Goldgroup 43-101 technical report of March 22, 2010). Many targets on the property, including those in other parts of the Northern Zone, Red Valley and Highway zones, have not been tested by past drilling. Goldgroup also reports that it plans to conduct further ground geophysics, surface sampling, metallurgical testing and the construction of several underground adits, for purposes of bulk sampling and geological mapping, and an environmental impact study.

J.D. Poliquin, chairman of Almaden, commented, "We are very pleased with this news of the imminent commencement of drilling at Caballo Blanco. It has been over a year since there has been drilling at Caballo Blanco, despite a new discovery having been made. The Caballo Blanco and nearby El Cobre projects are both underexplored and highly prospective projects in our portfolio. We are excited with Goldgroup's plans for Caballo Blanco and look forward to reporting them."

The company's address is uite 1103 - 750 West Pender St, Vancouver, BC, V6C 2T8.