ARGO GOLD EXPLORATION UPDATE

(ARQ.C) – May 15, 2019 — Argo Gold announced that plans are underway for a summer exploration programme at its Woco Property, primarily following up on results of recent drilling.

From results of all the drill holes that have intersected the Woco Vein, it appears that the highest grade gold is contained within the greatest width of vein material. At this time, Argo believes that the thickness of the vein material is controlled by a brittle dacite in the hanging wall. Accordingly, a detailed core re-logging programme will be carried out to confirm this observation, and carefully project the hanging wall dacite for future drill testing. Geochemical sampling will also be carried out over the strike extension of the Woco Vein to test for strike or en-echelon extensions.

The balance of the exploration programme will be directed towards geochemical sampling. A number of lines test the north-south oriented Uchi Break to test for any anomalous mineralization. This “Break”, which is the gold controlling structure to the Uchi Lake Mines to the north, has never been tested over most of the Argo Gold Property because of the extensive overburden cover.

Argo drill hole AGU-19-009 intersected a very shallow, likely sub-cropping, massive sulphide zone at the north boundary of the property, which, based on an interpretation of Argo’s geophysical database, appears to be coincident with a strong AEM conductor that is continuous for 400m south of the drill hole location. The sulphide intersection is strongly anomalous in gold and manganese, (482 ppb and 6,066 ppm respectively). Detailed geochemical traverses will bracket the surface over the length of the known AEM conductor to test for what can be common zonation in base metal deposits.

Exploration work will also be focused on linking the east end of the Northgate Vein to the through-going Uchi-Break. Previous work by Woco Gold Mines in the 1930’s on the Northgate Zone disclosed an average of 15.53 g/t Au over a width of 0.9m for a strike length of 61m. Only a portion of this zone was tested by the recent drilling.

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Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.

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