Argonaut Gold to be Included in the S&P TSX SmallCap Index

TORONTO, ONTARIO--(Marketwire - Sept. 14, 2011) - Argonaut Gold Inc. (TSX:AR) ("Argonaut" or the "Company") is pleased to announce that Standard & Poor's Index Operations will be adding Argonaut Gold to the S&P/TSX SmallCap Index, effective upon the close of trading on Friday, September 16, 2011. The S&P/TSX SmallCap Index provides an investable index for the Canadian small cap market.

Since the beginning of 2011, Argonaut Gold's average trade volume has increased from approximately 150,000 shares a day to over 500,000 shares a day. Argonaut currently has a fully diluted market cap of approximately $700 million dollars. Argonaut shares have provided a 32.6% increase in value in 2011, outperforming the gold price performance of 28.9% for the same period.

President and CEO of Argonaut Gold, Peter Dougherty stated "Argonaut is pleased to be added to the S&P/TSX SmallCap Index. This company milestone recognizes our continued efforts to create value for the company and our shareholders. Inclusion in the index corresponds with our increased market cap and share liquidity."

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About Argonaut

Argonaut is a Canadian gold company engaged in exploration, mine development and production activities. Its primary assets are the production-stage El Castillo Mine in the State of Durango, Mexico, the advanced exploration stage San Antonio project and advanced exploration stage La Colorada project, and several exploration stage projects, all of which are located in Mexico. Argonaut is a producing gold company created by former executive management team members of Meridian Gold Inc.

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 Inc. assumes no obligation to update the forward-looking information contained in this news release. Data was calculated from Yahoo finance and Kitco Gold Price measurements.