Argonaut Gold Inc.

Argonaut Gold Inc.

April 16, 2010 00:01 ET

Castle Gold Q4 2009 and 2009 Year End Production Results

TORONTO, ONTARIO--(Marketwire - April 16, 2010) - Release of Q4 2009 and year end production results for Castle Gold Corporation.

Argonaut Gold is reporting the Q4 2009 and year end production numbers for Castle Gold Corporation. Argonaut was not involved in the preparation or verification of such numbers and does not confirm the accuracy or sufficiency of these statistics nor the financial implications of these production results or the accounting practices of Castle Gold prior to completion of the acquisition.

Castle Gold Q4 2009 and year end production

  Q4 2009  
  12/31/2009 Year 2009
El Castillo Operating Statistics    
Total Tonnes mined 2,799,302 8,766,215
Tonnes Ore 1,266,400 3,704,226
Tonnes Ore-direct to leach pad 932,798 2,741,829
Tonnes Crushed 293,602 962,397
Gold Grade (grams/tonne) 0.25 0.29
     
Gold Produced (ounces) 8724.4 28,768
     
  Q4 2009  
  12/31/2009 Year 2009
El Sastre Operating Statistics*    
Total Tonnes mined 79,754 430,638
Tonnes Ore 42,164 256,177
Tonnes Ore-direct to leach pad 25,538 166,813
Tonnes Crushed 16,626 89,365
Gold Grade (grams/tonne) 1.39 1.55
     
100% Gold Produced (ounces) 1,346 11,142
Equity Ounces (50%) 673 5,574

* Note, El Sastre is a 50% owned joint venture.

Qualified Person Comments/Quality Control Procedures

This Press Release was reviewed and approved by Thomas Burkhart, B.Sc. in Geology, Argonaut Gold's Vice President of Exploration. Mr. Burkhart is a Qualified Person as defined in National Instrument 43-101. 

Cautionary Note Regarding Forward-looking Statements

This news release contains forward-looking statements that involve risks and uncertainties that could cause results to differ materially from management's current expectations. Actual results may differ materially due to a number of factors. Except as required by law, Argonaut Gold Ltd. assumes no obligation to update the forward-looking information contained in this news release. 

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