Ms. Judy Baker reports

ARGO'S LINDBERGH OIL PRODUCTION FOR JULY 2023

Argo Gold Inc. has released oil production results for the Lindbergh oil well for July, 2023.

Drilling commenced at Lindbergh in mid-March, 2023, and the oil well came on line in late March, 2023. Argo announced its Q2 2023 oil production on Aug. 8, 2023.

Argo also has a mutual area of interest at Lindbergh, whereby Argo can participate in additional oil wells for 37.5 per cent of the production for 37.5 per cent of the oil well cost. In the area proximal to the current Lindbergh oil well, there are drilling locations for five oil wells based on current seismic coverage.

Argo is currently completing a non-brokered private placement of 12 million shares at a price of 10 cents per share for gross proceeds of up to $1.2-million. The proceeds of the financing will be used for participation in the Sparky oil wells at Lloyd and Lindbergh, and for general corporate purposes. Finders' fees may be payable to qualified individuals pursuant to which the finders may receive a finders' fees equal to 8 per cent of the gross proceeds of the financing attributable to such finders.

About Argo Gold Inc.

Argo Gold is a Canadian mineral exploration and development company. Argo Gold is listed on the Canadian Securities Exchange as well as the OTCQB.

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