Argus Metals Corp.

Argus Metals Corp.

March 03, 2011 16:00 ET

Argus Releases New Geophysical Model for 2km Long "Sulphide Feeder Zone"

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2011) - Argus Metals Corp. (TSX VENTURE:AML) (the "Company" or "Argus") releases a new Transient electromagnetic survey ("TEM") geophysical model of the "Sulphide Feeder Zone" on the Hyland Gold Project, Selwyn Basin, Yukon Territory. The results of the 2010 TEM survey identified a strong geophysical conductor coincident with the 2 kilometres (km) long surface expression of the Sulphide Feeder Zone which has been defined to extend to a depth of at least 450 metres (m). In further Hyland Gold District developments, Argus has been granted authority by the Yukon Government to build a winter road to the Hyland Gold Project and this winter road has opened and efforts now are underway to pre-supply fuel and equipment in support of the 2011 Hyland Gold Project and Hyland Gold District exploration season.

Argus has received and reviewed the results of the Hyland Gold Project TEM geophysical survey, completed in the Fall 2010. The survey was designed to investigate the downward continuity of the "Sulphide Feeder Zone" which was identified over a 2km strike on surface and locally through drilling to a depth of 120m. The survey defined a conductive body that extends from a depth of 150m to the maximum survey depth at 450m and is continuous over the 2km strike of the structure.

The Hyland Gold Project winter road is now open and the Company is mobilizing over fuel, an AtlasCopco P4 CS1000 drill rig with all associated materials and consumables required for the 2011 Hyland Gold Project and Hyland Gold District exploration campaign and Hyland camp expansion. These equipment and supplies will be used in support of a minimum 4,000m of drilling on the Hyland Gold Project as well as regional surveys and prospecting on the newly staked "Ike" and "Tina" claim blocks (previously called the Spartan and Spy blocks).

With the Ike and Tina Claim blocks confirmed, Argus represents the largest mineral claimholder in the Hyland District. The Company's 2000+ claims target sediment hosted gold in the Selwyn Basin.

President Michael Collins comments, "Argus is eager to follow up last year's impressive results at the Hyland Gold Project. Similar to Atac's Osirus project, Argus is targeting sediment hosted gold in the Selwyn Basin and with the expansion of the Hyland Gold Project as well as the identification and staking of the Ike and Tina Projects, the Company has a wealth of high priority drill and regional targets we believe will add value and market recognition."

Paul D. Gray, P.Geo. is the Company's Qualified Person with respect to the Hyland Gold Project and has reviewed and approved this press release.

The Argus Team also looks forward to seeing you at the PDAC. Please stop by and visit us at Booth 2312, Metro Toronto Convention Center – South Building, Toronto, ON March 6-9, 2011



Michael Collins, President and CEO

We seek safe harbour.

Certain statements set out in this News Release constitute forward-looking statements. Forward-looking statements (i) are often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate", or "will", and similar expressions; (ii) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties, or upon the opinions, expectations and estimates of management of the Company as at the date the statements are made; (iii) are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements, including, but are not limited to risks, uncertainties and other factors that are beyond the control of the Company, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. In particular, there is no assurance that (i) the length and depth of the Hyland Project will be as projected; (ii) the Company will be able to fully supply its operations by way of the winter road; or (iii) the 2011 work program will proceed as projected, or that any positive results will result from such program. Although the Company believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of the Company contained in this press release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement.

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.

Contact Information