Argo Gold Announces Shares for Debt

Toronto,CANADA,February 18, 2020Argo Gold Inc.(“Argo Gold” or theCompany”) (CSE: ARQ) announces that it has agreed to settle an aggregate of $137,500 of indebtedness of the Company with various arm’s length and non-arm’s length creditors through the issuance of an aggregate of 1,100,000 common shares (“Common Shares”) at a price of $0.125 per Common Share.

The Common Shares issued pursuant to the debt settlement will be subject to a four month and one day hold period pursuant to applicable securities laws.

The shares for debt transaction constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) as insiders of the Company will receive 400,000 Common Shares of the Company in connection with the debt settlement. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the shares for debt transaction with the insider does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the debt settlement, which the Company deems reasonable in the circumstances as the Company wishes to improve its financial position by reducing its existing liabilities.

About Argo Gold Inc.

Argo Gold is a Canadian mineral exploration and development company, focused on gold exploration projects in central and northwestern Ontario. Argo Gold’s flagship Uchi Gold Project is comprised of 22 km2 of multiple mineralized trends and widespread gold mineralization. High grade gold intercepts from the Company’s winter 2019 drilling program include 132 g/t Au over 1.8 metres at the Woco Vein.   All of the Company’s projects are 100% owned and have the potential for economic mineralization. Information relating to the Company and its properties can be obtained from SEDAR at www.sedar.com and on the Company’s website at www.argogold.ca. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) under the ticker ARQ and on the OTC under the ticker ARBTF.

For more information please contact:

Judy Baker

Chief Executive Officer and Director

Phone: (416) 786-7860 E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law.   Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur.   Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE.   There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control.   The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law.   The reader is cautioned not to place undue reliance on forward-looking statements.   Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com.

Argo Gold Builds Team

Toronto,CANADA,February 13, 2020Argo Gold Inc.(“Argo Gold” or theCompany”) (CSE: ARQ) is pleased to announce that it has retained Kenneth Williamson (M.Sc., P.Geo) as a Consultant to Argo Gold. Mr. Williamson is a professional geologist with over 15 years of experience in the gold mining industry. Kenneth graduated from the University of Laval with a Masters Degree in Structural Geology, in 2002. From 2004-2010, Kenneth worked as a Special Projects Geologist at the Goldcorp Red Lake Gold Mines, where he developed a strong interest in integrating his structural geology expertise and mapping skills into 3D geological models. Kenneth has been, amongst other tasks, in charge of the elaboration of both the unified Campbell-Red Lake deposit-scale and Red Lake district-scale 3D litho-structural models. In 2010, Kenneth accepted a job for the “Bureau de l’Exploration Géologique du Québec” (BEGQ) where he had the opportunity to work on a regional mapping campaign in the Matagami area which culminated with the elaboration of the Matagami district scale 3D model. From 2011 to 2013, Kenneth took the position of Project Geologist with InnovExplo, a Val-d’Or-based consulting firm, where he developed his Mineral Resource Estimate skills. Late in 2013, Kenneth joined Premier Gold Mines first as a Senior Geologist and later as the Manager of the Technical Services, where he was responsible for providing geological, modelling and resource estimate expertise to various project teams. In 2017, Kenneth returned to the consulting business and joined up with MRB & Associates, another Val-d’Or based consulting firm.

Since September 2018, Kenneth is an independent geological consultant (operating under Kenneth Williamson 3DGeo-Solution) and is providing structural geology expertise, as well as 3D litho-structural modelling and integrated Mineral Resource Estimate solutions to various clients.

Argo Gold also announces that, effective February 13, 2020, it has granted an aggregate of 1,400,000 options to purchase common shares of the Company exercisable at a price of $0.15 per share and expiring on February 13, 2023 to a director, officer and consultants of the Company. The common shares issuable upon exercise of the options are subject to a four-month hold period from the original date of grant.

About Argo Gold Inc.

Argo Gold is a Canadian mineral exploration and development company, focused on gold exploration projects in central and northwestern Ontario. Argo Gold’s flagship Uchi Gold Project is comprised of 22 km2 of multiple mineralized trends and widespread gold mineralization. High grade gold intercepts from the Company’s winter 2019 drilling program include 132 g/t Au over 1.8 metres at the Woco Vein.   All of the Company’s projects are 100% owned and have the potential for economic mineralization. Information relating to the Company and its properties can be obtained from SEDAR at www.sedar.com and on the Company’s website at www.argogold.ca. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) under the ticker ARQ and on the OTC under the ticker ARBTF.

For more information please contact:

Judy Baker

CEO

Argo Gold

(416) 786-7860

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law.   Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur.   Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE.   There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control.   The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law.   The reader is cautioned not to place undue reliance on forward-looking statements.   Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com.

Argo Gold Closes Financing

Toronto, CANADA, February 7, 2020Argo Gold Inc.(“Argo Gold” or the “Company”) (CSE: ARQ) is pleased to announce that it has closed its previously announced non-brokered private placement of 11,200,000 units (“Units”) at a price of $0.09 per Unit for gross proceeds of $1,008,000 (the “Offering”). 

Each Unit consists of one common share (a “Common Share”) of the Company and one common share purchase warrant (a “Warrant”) with each Warrant entitling the holder thereof to purchase a Common Share at an exercise price of $0.12 for a period of thirty-six (36) months.  All securities issued under the Offering are subject to a four-month and one day statutory hold period. 

Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 11,200,000 Units for a total consideration of $1,008,000. Following the completion of the private placement, Mr. Sprott beneficially owns and controls 11,800,000 Common Shares and 121,008,000 Warrants of the Company representing approximately 22.2% of the issued and outstanding Common Shares of the Company on a non-diluted basis and approximately 36.4% of the issued and outstanding Common Shares on a partially diluted basis. Prior to the Financing, Mr. Sprott did not beneficially own or control any shares of the Company.  The Units were acquired by Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Argo Gold including on the open market or through private acquisitions or sell securities of Argo Gold including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.  A copy of Sprott's early warning report will appear on Argo Gold’s profile on SEDAR and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J2).

About Argo Gold Inc.

Argo Gold is a Canadian mineral exploration and development company, focused on gold exploration projects in central and northwestern Ontario. Argo Gold’s flagship Uchi Gold Project is comprised of 22 km2 of multiple mineralized trends and widespread gold mineralization. High grade gold intercepts from the Company’s winter 2019 drilling program include 132 g/t Au over 1.8 metres at the Woco Vein. All of the Company’s projects are 100% owned and have the potential for economic mineralization. Information relating to the Company and its properties can be obtained from SEDAR at www.sedar.com and on the Company’s website at www.argogold.ca. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) under the ticker ARQ and on the OTC under the ticker ARBTF.

For more information please contact:

Judy Baker

CEO

Argo Gold

(416) 786-7860

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law.   Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur.   Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE.   There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control.   The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law.   The reader is cautioned not to place undue reliance on forward-looking statements.   Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com.

Argo Gold Announces Financing

Toronto, CANADA, February 4, 2020 – Argo Gold Inc. (“Argo Gold” or the “Company”) (CSE: ARQ) is pleased to announce that it intends to complete a private placement offering of up to 11,200,000 units (“Units”) at a price of $0.09 per Unit, for gross proceeds of up to $1,008,000 (the “Offering”). Eric Sprott his indicated his intention to take up all of the Offering.

Each Unit will consist of one common share (a “Common Share”) of the Company and one common share purchase warrant (a “Warrant”) with each Warrant entitling the holder thereof to purchase a Common Share at an exercise price of $0.12 for a period of thirty-six (36) months following the closing of the Offering. All securities issued under the Offering are subject to a four-month and one day statutory hold period.

The closing of the Offering is anticipated to take place on February 7, 2020. The closing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Canadian Securities Exchange.

About Argo Gold Inc.

Argo Gold is a Canadian mineral exploration and development company, focused on gold exploration projects in central and northwestern Ontario. Argo Gold’s flagship Uchi Gold Project is comprised of 22 km2 of multiple mineralized trends and widespread gold mineralization. High grade gold intercepts from the Company’s winter 2019 drilling program include 132 g/t Au over 1.8 metres at the Woco Vein. All of the Company’s projects are 100% owned and have the potential for economic mineralization. Information relating to the Company and its properties can be obtained from SEDAR at www.sedar.com and on the Company’s website at www.argogold.ca. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) under the ticker ARQ and on the OTC under the ticker ARBTF.
For more information please contact:
Judy Baker
CEO
(416) 786-7860
This email address is being protected from spambots. You need JavaScript enabled to view it.


NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com.

Argo Gold Announces Closing of Financing

Toronto, CANADA, December 31, 2019 – Argo Gold Inc. (“Argo Gold” or the “Company”) (CSE: ARQ) is pleased to announce that it has closed its previously announced non-brokered private placement offering through the issuance of 1,190,100 flow-through shares (“Flow-Through Shares”) at a price of $0.12 per Flow Through Share, for aggregate proceeds of $142,812.

In connection with the issuance of the Flow-Through Shares, the Company paid a finder’s fee equal to $9,996.84. The securities issued are subject to a hold period of four months and a day from the date of closing of the financing.

The gross proceeds from the Flow-Through Share offering will be used for Canadian Exploration Expenses, and will qualify as “flow-through mining expenditures”, as defined in the Income Tax Act (Canada).

About Argo Gold Inc.

Argo Gold is a Canadian mineral exploration and development company, focused on gold exploration projects in central and northwestern Ontario. Argo Gold’s flagship Uchi Gold Project is comprised of 22 km2 of multiple mineralized trends and widespread gold mineralization. High grade gold intercepts from the Company’s winter 2019 drilling program include 132 g/t Au over 1.8 metres at the Woco Vein. All of the Company’s projects are 100% owned and have the potential for economic mineralization. Information relating to the Company and its properties can be obtained from SEDAR at www.sedar.com and on the Company’s website at www.argogold.ca. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) under the ticker ARQ and on the OTC under the ticker ARBTF.
For more information please contact:
Judy Baker
CEO
Argo Gold
(416) 786-7860


NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com.

Argo Gold Announces Offering of Flow-Through Shares

Toronto, CANADA, December 30, 2019 – Argo Gold Inc. (“Argo Gold” or the “Company”) (CSE: ARQ) is pleased to announce that it intends to complete a private placement offering of up to 1,000,000 flow through shares (“Flow Through Shares”) at a price of $0.12 per Flow Through Share, for gross proceeds of up to $120,000 (the “Offering”).

All securities issued under the Offering are subject to a four-month and one day statutory hold period. The gross proceeds from the Offering will be used for Canadian Exploration Expenses, and will qualify as “flow-through mining expenditures,” as defined in the Income Tax Act (Canada).

Finder’s fees may be payable to qualified individuals (the “Finder”) pursuant to which the Finder may receive a finder’s fee equal to 7% of the gross proceeds of the Offering.
The closing of the Offering is anticipated to take place on December 31, 2019. The closing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Canadian Securities Exchange.

About Argo Gold Inc.

Argo Gold is a Canadian mineral exploration and development company, focused on gold exploration projects in central and northwestern Ontario. Argo Gold’s flagship Uchi Gold Project is comprised of 22 km2 of multiple mineralized trends and widespread gold mineralization. High grade gold intercepts from the Company’s winter 2019 drilling program include 132 g/t Au over 1.8 metres at the Woco Vein. All of the Company’s projects are 100% owned and have the potential for economic mineralization. Information relating to the Company and its properties can be obtained from SEDAR at www.sedar.com and on the Company’s website at www.argogold.ca. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) under the ticker ARQ and on the OTC under the ticker ARBTF.
For more information please contact:
Judy Baker
CEO
(416) 786-7860
This email address is being protected from spambots. You need JavaScript enabled to view it.


NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com.

Argo Gold Announces Corporate Changes



Toronto, Ontario, December 2, 2019 – Argo Gold Inc. (“Argo Gold” or the “Company”) (CSE: ARQ) is pleased to announce the appointment of Michael Farrant as Chief Financial Officer (“CFO”) and David McDonald as Controller of the Company.

Mr. Farrant currently serves as President and CFO of New Break Resources Ltd., a private mineral exploration company exploring for gold in Timmins, Ontario and as an independent director of Talisker Gold Corp. Mr. Farrant has over 23 years’ experience in the gold mining industry, including President and CEO of Sierra Minerals Inc., a former TSX-listed Mexican gold producer, CFO of junior gold producers, VP Treasurer and Operations Controller of Kinross Gold Corporation and Corporate Controller of Barrick Gold Corporation. Mr. Farrant was co-founder, President and CEO of Commonwealth Silver and Gold Mining Inc., sold to Marlin Gold Mining Ltd. in 2015. Mr. Farrant received a Bachelor of Commerce (Honours) from Queen’s University in 1992 and earned his CA in 1995 with Coopers & Lybrand.

Mr. McDonald currently serves as the CFO of McLaren Resources Inc. and CFO and director of Talisker Gold Corp., having over 13 years’ experience in the gold mining industry. Mr. McDonald spent several years working in public accounting until joining a junior mining team in 2006. Since that time Mr. McDonald has been CFO of a number of public and private junior mining companies. Mr. McDonald received a Bachelor of Commerce (Honours) from Laurentian University in 1982 and earned his CA in 1991 with Ernst & Young.

Argo Gold also announces the resignation of Kenney Storey as CFO of the Company. The Company would like to thank Mr. Storey for his contributions and wish him well in his future endeavors.

Argo Gold also announces that, effective December 2, 2019, it has granted an aggregate of 700,000 options to purchase common shares of the Company exercisable at a price of $0.15 per share and expiring on December 2, 2022 to a director, officer and consultants of the Company. The common shares issuable upon exercise of the options are subject to a four-month hold period from the original date of grant. About Argo Gold Inc. Argo Gold is a Canadian mineral exploration and development company, focused on gold exploration projects in central and northwestern Ontario. Argo Gold’s flagship Uchi Gold Project is comprised of 22 km2 of multiple mineralized trends and widespread gold mineralization. High grade gold intercepts from the Company’s winter 2019 drilling program include 132 g/t Au over 1.8 metres at the Woco Vein. Historic drilling by St. Jude Resources in 1993 includes; 139 g/t Au over 2.1 metres, 65 g/t Au over 1.83 metres, and 62 g/t Au over 3.6 metres. All of the Company’s projects are 100% owned and have the potential for economic mineralization. Information relating to the Company and its properties can be obtained from SEDAR at www.sedar.com and on the Company’s website at www.argogold.ca. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) under the ticker ARQ and on the OTC under the ticker ARBTF.

For more information please contact:
Judy Baker
Chief Executive Officer
This email address is being protected from spambots. You need JavaScript enabled to view it.
(416) 786-7860


NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com.

Argo Gold Provides Exploration and Corporate Update

May 15, 2019 – Toronto, ON, Canada. – Argo Gold (the “Company” or “Argo Gold”, CSE: ARQ) is pleased to announce that plans are underway for a summer exploration programme at its Woco Property, primarily following up on results of recent drilling.

From results of all the drill holes that have intersected the Woco Vein, it appears that the highest grade gold is contained within the greatest width of vein material. At this time, Argo believes that the thickness of the vein material is controlled by a brittle dacite in the hanging wall. Accordingly, a detailed core re-logging programme will be carried out to confirm this observation, and carefully project the hanging wall dacite for future drill testing. Geochemical sampling will also be carried out over the strike extension of the Woco Vein to test for strike or en-echelon extensions.

The balance of the exploration programme will be directed towards geochemical sampling. A number of lines test the north-south oriented Uchi Break to test for any anomalous mineralization. This “Break”, which is the gold controlling structure to the Uchi Lake Mines to the north, has never been tested over most of the Argo Gold Property because of the extensive overburden cover.

Argo drill hole AGU-19-009 intersected a very shallow, likely sub-cropping, massive sulphide zone at the north boundary of the property, which, based on an interpretation of Argo’s geophysical database, appears to be coincident with a strong AEM conductor that is continuous for 400m south of the drill hole location. The sulphide intersection is strongly anomalous in gold and manganese, (482 ppb and 6,066 ppm respectively). Detailed geochemical traverses will bracket the surface over the length of the known AEM conductor to test for what can be common zonation in base metal deposits.

Exploration work will also be focused on linking the east end of the Northgate Vein to the through-going Uchi-Break. Previous work by Woco Gold Mines in the 1930’s on the Northgate Zone disclosed an average of 15.53 g/t Au over a width of 0.9m for a strike length of 61m. Only a portion of this zone was tested by the recent drilling

Key features of the Woco Gold Project are:

  • High grade gold intercepts in recent and historic drilling, including 132 g/t Au over 1.8 metres, 139 g/t Au over 2.1 metres, 65 g/t Au over 1.83 metres, and 62 g/t Au over 3.6 metres.
  • The Woco Vein is situated 1.5 kms south, and parallel to the strike of the past producing Uchi Mine, where mining the No. 1 Zone started with a grade of 10.62 g/t Au over a width of 9 metres for a length of 103 metres. (Summarized from Bateman (1940), ODM ARV 48, pt.8)
  • Argo Gold’s total land package in the prospective Birch Uchi Greenstone Belt is 2,176 hectares and follows geologically favourable rocks and structures hosting gold mineralization.

This exploration program is being overseen by Argo Gold’s lead exploration geologist Bill Kerr who comments: “Now that the location of the Uchi Break has been better defined near Argo Gold’s north claim boundary, further ground surveys are planned to define drill targets along this favourable horizon and extend it over three kilometres to the south, where it intersects the Northgate Zone. Reconnaissance geochemical traverses and prospecting will also attempt to extend the Uchi break further south, approximately five kilometres to Argo’s south claim boundary. This follow-up summer exploration program will provide crucial data for Argo Gold to carry out any further drill program.”

Corporate Update:

The Company is pleased to announce that they have engaged the services of Ms. Judith Baker as a consultant. Ms. Baker’s history and knowledge of Argo Gold and its properties make her uniquely qualified to assist the Company as it moves forward.

About Argo Gold Inc.

Argo Gold is listed on the Canadian Securities Exchange under the ticker symbol ARQ. Argo Gold is focused on gold exploration projects in central and northwestern Ontario. Argo Gold’s website is www.argogold.ca.

Mr. Bill Kerr, P. Geo, is the Qualified Person as defined by National Instrument 43-101 who assumes responsibility for the technical disclosures in this press release.

ON BEHALF OF THE BOARD OF DIRECTORS OF ARGO GOLD

Chris Irwin
Interim-CEO

For more information, please contact:

Ken Storey
Chief Financial Officer
905-301-3404
This email address is being protected from spambots. You need JavaScript enabled to view it.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com.

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