Argus Metals Corp.
TSX VENTURE : AML

Argus Metals Corp.

July 22, 2009 15:16 ET

Argus Metals Corp.: Private Placement Closes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 22, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA US NEWSWIRE SERVICES

Argus Metals Corp. (the "Company") (TSX VENTURE:AML) reports that, further to its news release of June 15, 2009, it has closed its non-brokered private placement and issued an aggregate 408,819 units at a price of $0.11 per Unit for gross proceeds of C$45,000.

Each Unit consists of one common share ("Share") and one half transferable share purchase warrant ("Warrant"). Each full warrant is exercisable for two years from the closing (July 21, 2011), at a price of $0.16 per share.

The Company will use the private placement funds for its general working capital.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael Collins, President and CEO

FORWARD LOOKING INFORMATION DISCLAIMER

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of applicable securities legislation, including statements concerning our plans to raise private placement funds and settle debts. Each of these activities involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Risks include delays in obtaining or failure to obtain required TSXV or shareholder approvals. There is no assurance the Company will be able to raise any equity financing. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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