Argonaut Exploration Inc. Fulfills Obligations Under Acquisition Agreements for the Historic Cordillera Gold Property

CALGARY, ALBERTA--(Marketwire - Jan. 15, 2013) - Argonaut Exploration Inc. (TSX VENTURE:AGA) ("Argonaut" or the "Company") has fulfilled its obligations under two asset purchase agreements (the "Agreements") dated effective September 30, 2012 with arm's length parties (the "Vendors"), to acquire 100% interest in certain mineral properties located in the Terrace area of British Columbia (the "Cordillera Gold Property"). The TSX Venture Exchange has approved and the Company has issued the 150,000 common shares in the capital of the Company as required to complete the agreements.

The Cordillera Gold Property consists of 4 adjoining mineral tenures totaling approximately 187 hectares. Additional information on the Property is summarized in the Company's news releases dated October 16 and December 4, 2012.

About Argonaut Exploration Inc.

Argonaut is a junior mineral exploration company focused on the acquisition, exploration and development of gold, silver and copper bearing mineral properties. For more information on the Corporation visit its website at www.argonautexploration.com.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.