Ms. Judy Baker reports

ARGO'S LINDBERGH OIL PRODUCTION, LLOYD ON PRODUCTION

Argo Gold Inc. has released its oil production results for the Lindbergh oil well for August, 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.

The seven-leg multilateral Lloyd oil well in the Sparky formation has been completed, equipped and is now producing oil. Argo's interest in the Lloyd oil well is 18.75 per cent.

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 finder may receive a finder's fee equal to 8 per cent of the gross proceeds of the financing attributable to such finder.

About Argo Gold Inc.

Argo Gold is a Canadian mineral exploration and development company. Information on Argo Gold can be obtained from SEDAR and on Argo Gold's website. Argo Gold is listed on the Canadian Securities Exchange as well as on the OTCQB.

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