Argonaut Gold Inc.
TSX : AR

Argonaut Gold Inc.

July 13, 2015 19:15 ET

Argonaut Gold Clarification and Retraction of Certain Technical Disclosure

TORONTO, ONTARIO--(Marketwired - July 13, 2015) - Argonaut Gold Inc. ("Argonaut", "Argonaut Gold" or the "Company") (TSX:AR), as a result of a review by staff of the Ontario Securities Commission issues this news release to clarify and retract certain disclosure regarding the potential increase in its San Agustín Project ("San Agustín ") resource.

The heading of its news release dated July 6, 2010 does not comply with National Instrument 43-101 - Standards for Disclosure of Mineral Projects in that it may imply that the Company has evidence of an exploration target with potential to increase the tonnage of the existing resource at San Agustín by 50%. As described in the body of the July 6, 2015 news release, the Company has completed certain expansion drilling that resulted in indications that the mineralized area at San Agustín may extend over an area that is 50% larger than the current San Agustín area. The Company is completing further drilling to define this potential extension of the resource area, but has not yet completed sufficient work to enable it to comment on the existence of a an exploration target or to restate its current San Agustín resource. Pending completion of this work, the potential resource increase implied by the heading of the July 6, 2015 news release should not be relied upon.

Qualified Person and Mineral Properties Reports

Technical information included in this release was supervised and approved by Thomas Burkhart, Argonaut Gold's Vice President of Exploration, and a Qualified Person under National Instrument ("NI") 43-101.

For further information on the San Agustín, please see the reports as listed below on the Company's website or on www.sedar.com:

San Agustín Project NI 43-101 Technical Report on Resources, Argonaut Gold Inc., San Agustín Project, Durango, Mexico dated February 15, 2015

Cautionary Note Regarding Forward-looking Statements

This press release contains certain "forward-looking statements" and "forward-looking information" under applicable Canadian securities laws concerning the business, operations and financial performance and condition of Argonaut Gold Inc. ("Argonaut" or "Argonaut Gold"). Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to the estimation of mineral reserves and resources; success of exploration activities; the realization of mineral reserve estimates; estimated production and mine life of the various mineral projects of Argonaut; the timing and amount of estimated future production; costs of production; and financial impact of completed acquisitions; the benefits of the development potential of the properties of Argonaut; the future price of gold, copper, and silver; synergies; and currency exchange rate fluctuations. Except for statements of historical fact relating to Argonaut, certain information contained herein constitutes forward-looking statements. Forward-looking statements are 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 of management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of Argonaut and there is no assurance they will prove to be correct.

Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include variations in ore grade or recovery rates, changes in project parameters, changes in market conditions, risks relating to international operations, fluctuating metal prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated.

These factors are discussed in greater detail in Argonaut's most recent Annual Information Form and in the most recent Management Discussion and Analysis filed on SEDAR, which also provide additional general assumptions in connection with these statements. Argonaut cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Argonaut believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.

Although Argonaut has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Argonaut undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed. Comparative market information is as of a date prior to the date of this document.

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