CORRECTING ?and REPLACING ?Almaden Continues to Hit at Ixtaca North and Intersects 10.00 M of 3.05 G/T Au and 198.8 G/T Ag (7.0 G/T AuEq) on Main Ixtaca Zone, Adds Fourth Drill to Program

In first section of release under heading 'Hole TU-11-65 MAIN IXTACA
ZONE', second line changed to read '77.0 g/t silver (2.5 g/t gold
equivalent)' (originally '134.4 g/t silver (4.35 g/t gold equivalent)?).

The corrected release reads:

ALMADEN CONTINUES TO HIT AT IXTACA NORTH AND INTERSECTS 10.00 M OF
3.05 G/T AU AND 198.8 G/T AG (7.0 G/T AUEQ) ON MAIN IXTACA ZONE, ADDS
FOURTH DRILL TO PROGRAM

Almaden Minerals Ltd. ('Almaden? or 'the Company?; AMM: TSX; AAU:
NYSE AMEX) is pleased to announce results from the on-going drilling
at the Ixtaca Zone with holes TU-11-56, 60, 61, 62 and 65. Holes
TU-11-56, 60 and 61 were drilled 180 degrees away from the known Ixtaca
veining (at a 330 azimuth) and intersected the zone of mineralisation
now referred to as Ixtaca North. The orientation of the Ixtaca North
zone remains poorly understood. Hole TU-11-65 was drilled into the main
Ixtaca Zone. This hole started in ash and only intersected a portion of
the Ixtaca Zone. Final assays remain pending for holes TU-11-59, 63 and
64.

Highlights from the current group of assays include the following
intercepts:

J.D. Poliquin, Chairman of Almaden commented, 'These new holes continue
to show that the Ixtaca zone is a robust and wide system of veining. The
veining of the Ixtaca North zone indicates that the overall Ixtaca vein
system is wider than previously known. Overall, drilling to date on the
Ixtaca zone also shows good continuity of mineralisation in both
horizontal and vertical dimensions. We are very pleased with these new
results which further expand the known extent of the Ixtaca zone. We now
have four drills on site.?

The Company anticipates drilling operations will continue throughout
2011 and into 2012. A fourth drill has recently arrived on site and the
Company anticipates that it will commence drilling shortly to compliment
the three drills currently working on the project. Below is a plan map,
relevant sections and table of significant intervals which will be
posted to the Company′s website (www.almadenminerals.com)
along with complete tables of assays.

About the Ixtaca Property

The 100% owned Ixtaca zone is a blind discovery made by the Company in
2010. The zone of veining is thought to have a north-easterly trend.
Holes to date suggest that the zone is sub vertical with local
variations. This interpretation suggests that true widths are
approximately 60% of intersected widths. The drilling completed

to date has traced mineralisation over 750 meters along this northeast
trend. Based upon observations at surface and of core as drilling
progresses, there seems to be a variety of veinlet orientations within
the vein zone. Mr. Norm Dircks, P.Geo., a qualified person ('QP?) under
the meaning of NI 43-101, is the QP and project manager of Almaden′s
Ixtaca program and reviewed the technical information in this news
release. The analyses reported were carried out at ALS Chemex
Laboratories of North Vancouver using industry standard analytical
techniques. For gold, samples are first analysed by fire assay and
atomic absorption spectroscopy ('AAS?). Samples that return values
greater than 10 g/t gold using this technique are then re-analysed by
fire assay but with a gravimetric finish. Silver is first analysed by
Inductively Coupled Plasma - Atomic Emission Spectroscopy ('ICP-AES?).
Samples that return values greater than 100 g/t silver by ICP-AES are
then re analysed by HF-HNO₃-HCLO₄ digestion with
HCL leach and ICP-AES finish. Of these samples those that return silver
values greater than 1,500 g/t are further analysed by fire assay with a
gravimetric finish. 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 silver
to gold ratios of 50 to 1. The ratio of 50 to 1 was used for the sake of
consistency with past news releases. Intervals that returned assays
below detection were assigned zero values. Metallurgical recoveries and
net smelter returns are assumed to be 100% for these calculations.

About Almaden

Almaden is a well-financed (no debt, approximately $C25 MM in working
capital) mineral exploration company working in North America. The
company has assembled mineral exploration projects, including Tuligtic,
through its grass roots exploration efforts. While the properties are
largely at early stages of development they represent exciting
opportunities for the discovery of significant gold, silver and copper
deposits as evidenced at Ixtaca. Almaden′s business model is to find and
acquire mineral properties and develop them by seeking option agreements
with others who can acquire an interest in a project by making payments
and exploration expenditures. Through this means the company has been
able to expose its shareholders to discovery and capital gain without
the funding and consequent share dilution that would be required if the
company were to have developed these projects without a partner. The
company intends to expand this business model, described by some as
prospect generation, by more aggressively exploring several of its
projects including the Ixtaca Zone.

On Behalf of the Board of Directors

'Morgan Poliquin?

Morgan J.
Poliquin, Ph.D., P.Eng.

President, CEO and Director

Almaden
Minerals Ltd.

Neither the Toronto Stock Exchange (TSX) nor the NYSE AMEX have
reviewed or accepted responsibility for the adequacy or accuracy of the
contents of this news release which has been prepared by management..
Except for the statements of historical fact contained herein, certain
information presented constitutes 'forward-looking statements' within
the meaning of the United States Private Securities Litigation Reform
Act of 1995 and Canadian securities laws. Such forward-looking
statements, including but not limited to, those with respect to
potential expansion of mineralization, potential size of mineralized
zone, and size and timing of exploration and development programs,
estimated project capital and other project costsand the timing
of submission and receipt and availability of regulatory approvals
involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievement of Almaden to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Such factors include, among others, risks related to international
operations and joint ventures, the actual results of current exploration
activities, conclusions of economic evaluations, uncertainty in the
estimation of mineral resources, changes in project parameters as plans
continue to be refined, environmental risks and hazards, increased
infrastructure and/or operating costs, labour and employment matters,
and government regulation and permitting requirements as well as those
factors discussed in the section entitled 'Risk Factors' in Almaden's
Annual Information form and Almaden's latest Form 20-F on file with the
United States Securities and Exchange Commission in Washington, D.C.
Although Almaden has attempted to identify important factors that could
cause actual results to differ materially, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be accurate
as actual results and future events could differ materially from those
anticipated in such statements. Almaden disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, other than
as required pursuant to applicable securities laws. Accordingly, readers
should not place undue reliance on forward-looking statements.

To view the maps associated with this release, please click on the
following links:

http://www.usetdas.com/pr/almadenmap111082011.jpg

http://www.usetdas.com/pr/almadenmap211082011.jpg

http://www.usetdas.com/pr/almadenmap311082011.jpg

http://www.usetdas.com/pr/almadenmap411082011.jpg

http://www.usetdas.com/pr/almadenmap511082011.jpg

Almaden Minerals Ltd.

Morgan J. Poliquin, Ph.D., P.Eng.,
604-689-7644

President, CEO and Director

604-689-7645 (FAX)

www.almadenminerals.com