Toronto, Ontario - (March 30, 2023) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut
Gold” or “Argonaut”), is pleased to announce today a significant increase in Mineral Resources
for the Company’s two principal assets: the Magino Project, in the final stages of construction,
located in Ontario, Canada, and the Florida Canyon Mine located in Nevada, USA. Measured and
Indicated Mineral Resources at the Company’s two principal assets increased by 14% to
5.7 million gold ounces, while Inferred Mineral Resources more than quadrupled to 3.0 million
gold ounces. On a consolidated basis, Measured and Indicated Mineral Resources total
11.3 million gold ounces, Inferred Mineral Resources total 3.5 million gold ounces, and Proven
and Probable Mineral Reserves total 5.6 million gold ounces effective December 31, 2022.
“This updated resource statement underpins our belief that the combination of Magino and a
redevelopment of Florida Canyon can provide the foundation for Argonaut’s transition into a lowcost mid-tier gold producer in North America,” stated Richard Young, President and Chief
Executive Officer.
Summary of Proven and Probable Mineral Reserves
see & read more on
https://s22.q4cdn.com/115151820/files/doc_news/2023/03/03-30-23-Argonaut-Press-Release-Magino-and-Florida-Canyon-resource-update-FINAL3.pdf