15:39 EDT Tuesday, August 17, 2010

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 17, 2010) - Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX:AMM)(NYSE Amex:AAU) is pleased to report the assay results from remaining unreported holes, holes TU-10-2 and TU-10-3, from the Company's preliminary August, 2010 drill program at the 100% owned Ixtaca zone, located in Puebla State, Mexico. Holes TU-10-2 and TU-10-3 were drilled subsequent to discovery hole TU-10-1 (see Almaden news release of August 9, 2010) and were designed to help the Company understand the orientation of the vein zone. The attached map shows the location and orientation of the drillholes. The Company ceased drilling to await the results of this preliminary program. Drilling is planned to recommence in the first week of September, 2010.

Hole TU-10-3, from the base of overburden at 21.49 meters to 253.79 meters depth, intersected a 232.30 meter interval that averaged 0.36 g/t gold and 34 g/t silver (0.9 g/t AuEq., 57 g/t AgEq.). Vein intersections include 0.81 meters of 4.3 g/t gold and 721 g/t silver (15.4 g/t AuEq., 1,002 g/t AgEq.) and 0.20 meters of 7.5 g/t gold and 1190 g/t Ag (25.8 g/t AuEq., 1,678 g/t AgEq.). Hole TU-10-2 was drilled away from holes TU-10-1 and TU-10-3 and also intersected vein and zones of veining including 32.69 meters from 172.31 to 205.00 depth of 0.15 g/t gold and 32 g/t silver (0.6 g/t AuEq., 41 g/t AgEq.). Vein intersections in hole TU-10-2 include 1.34 meters of 0.1 g/t gold and 440 g/t silver (6.9 g/t AuEq, 448 g/t AgEq.). Below are tables showing the broad intervals of gold-silver mineralisation and the high grade gold-silver vein zones respectively. Subsequent to the receipt of these analytical results it is clear that more complete sampling of holes TU-10-2 and TU-10-3 is required. This sampling will commence as soon as operations resume.

It is now apparent that all the holes were collared within the vein zone and there remains a roughly 50 meter wide section of untested vein zone in the vicinity of the collars. The vein zone is now thought to have a general northeasterly trend but at this time true widths cannot be calculated with confidence. Additionally, individual veins have several different apparent attitudes and may not be oriented parallel to the strike of the overall vein zone. The previously reported discovery hole (TU-10-1; 302.41 m of 1.7 g/t AuEq) was drilled with an azimuth of 110 degrees and a dip of -55 degrees and is considered to be oriented oblique to the vein zone. Hole TU-10-2 was drilled away from TU-10-1 with an azimuth of 330 degrees and a dip of -55 degrees. Hole TU-10-3 was drilled at an azimuth of 150 degrees with a dip of -50 degrees. Of the three holes, TU-10-1 is believed to have most completely crossed the core of the vein zone while holes TU-10-2 and TU-10-3 are thought to have been collared closer to the hangingwall and footwall respectively. Accordingly hole TU-10-3 is interpreted to have intersected the vein system at shallower depths than that at which high grades were intersected in hole TU-10-1.

J.D. Poliquin, Chairman of Almaden commented, "We are pleased with the results of hole TU-10-2 and TU-10-3 which confirm the presence and breadth of the upper reaches of the large epithermal vein system intersected in the discovery hole TU-10-1."

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                                                       Gold  Silver
                                  Width   Gold Silver    Eq.     Eq.
Hole           From (m)   To (m)     (m)  (g/t)  (g/t) (g/t)   (g/t)  Ag/Au
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TU-10-3          21.49   253.79  232.30   0.36     34   0.9      58      96
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TU-10-3   incl-
         uding   34.20   222.00  187.80   0.42     41   1.0      68      98
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TU-10-3    and   36.75    47.61   10.86   0.61     69   1.7     109     114
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TU-10-3    and   78.97   211.04  132.07   0.49     46   1.2      78      95
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TU-10-3    and   78.97   101.00   22.03   0.54     80   1.8     115     150
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TU-10-3   incl-
         uding   78.97    89.00   10.03   0.80    121   2.7     172     151
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TU-10-3    and  140.90   154.36   13.46   1.02     60   1.9     126      59
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TU-10-3    and  191.95   211.04   19.09   1.12     86   2.4     158      77
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TU-10-3    and  191.95   222.00   30.05   0.77     60   1.7     110      78
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TU-10-2         172.31   205.00   32.69   0.15     32   0.6      41     211
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TU-10-2   incl-
         uding  194.20   198.70    4.50   0.18    148   2.5     159     826
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Table 1: Broad Intervals, Ixtaca Zone, Holes TU-10-2 and TU-10-3


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                                                       Gold  Silver
                                  Width   Gold Silver    Eq.     Eq.
Hole           From (m)   To (m)     (m)  (g/t)  (g/t) (g/t)   (g/t)  Ag/Au
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TU-10-3          78.97     79.3    0.33   3.86    378   9.7     629      98
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TU-10-3          84.00    84.81    0.81    4.3    721  15.4    1002     166
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TU-10-3          96.58    96.90    0.32    1.6    297   6.2     403     183
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TU-10-3         110.16   110.47    0.31    2.2    481   9.6     624     219
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TU-10-3         128.89   129.12    0.23    3.0    370   8.7     566     123
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TU-10-3         140.90   141.10    0.20    4.1    113   5.8     378      28
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TU-10-3         141.55   141.75    0.20    4.0    160   6.5     422      40
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TU-10-3         142.94   144.16    1.22    2.5    113   4.3     277      45
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TU-10-3         148.40   148.60    0.20    7.5   1190  25.8    1678     158
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TU-10-3         152.41   152.99    0.58    5.4    111   7.1     462      21
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TU-10-3         162.17   162.38    0.21    7.6    206  10.7     697      27
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TU-10-3         163.18   163.44    0.26    3.9    392  10.0     647     100
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TU-10-3         204.00   211.04    7.04    2.7    226   6.1     399      85
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TU-10-3   incl-
         uding  204.00   206.65    2.65    3.6    329   8.7     565      91
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TU-10-2          56.33    56.53    0.20    0.6     64   1.6     105     101
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TU-10-2          57.58    57.78     0.2   0.96    137   3.1     199     143
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TU-10-2         194.46   194.68    0.22    1.1     59   2.0     129      54
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TU-10-2         197.36   198.70    1.34    0.1    440   6.9     448    3570
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Table 2: High Grade Gold-Silver Intervals, Ixtaca Zone, Holes TU-10-2 and
         TU-10-3

Morgan J. Poliquin, Ph. D., P. Eng., the President and CEO of Almaden, and a qualified person under the meaning of National Instrument 43-101, reviewed the technical information in this news release. The analyses reported were carried out at ALS Chemex Laboratories of North Vancouver using industry standard aqua regia, ICP and fire assay techniques. Blanks, field duplicates and certified standards were inserted into the sample stream as part of Almaden's quality assurance and control program which complies with National Instrument 43-101 requirements. Gold equivalent ("AUEQ" or "Gold Eq.") and silver equivalent (""AGEQ" or "Silver Eq.") values were calculated using a silver to gold ratio of 65 to 1. Metallurgical recoveries and net smelter returns are assumed to be 100% for these calculations. Intervals that returned assays below detection were assigned zero values.