Ms. Judy Baker reports

ARGO ACQUIRES GOLD AND SILVER MINERAL CLAIMS IN SASKATCHEWAN

Argo Gold Inc. is entering into a mineral claim option agreement to acquire a 100-per-cent interest in the 1,155-hectare Dreaver Lake property located in the Rottenstone belt in Saskatchewan.

To exercise the option and acquire the claim, Argo must: (i) make a cash payment of $1,000 (which has been made), (ii) incur or expend at least $40,000 in exploration work by Sept. 3, 2026, and (iii) grant to the vendor of the claim a 2-per-cent net smelter returns royalty on any minerals produced from the claim.

Dreaver Lake has weakly anomalous gold and silver in lake sediments as well as a highly anomalous halo of coincident gold and silver in lake sediments for 10 kilometres in the down-ice direction. (GSC). In 1968, prospecting at Dreaver Lake identified outcrops of quartz diorite rock consistent with rock hosting the gold mineralization in the Ramp Metals discovery hole Ranger 1 which intersected 73.55 grams/tonne Au over 7.5 metres from 227 to 234.5 metres (Ramp Metals, June 17, 2024). Exploration work in the 1960s was focused on nickel and copper, not gold. An airborne survey conducted for Noranda Exploration in 1966 at Dreaver Lake delineated three conductors, all with associated magnetic highs, in the metasediments flanking the intrusive granites. The highest-priority target is a strong, wide EM conductor that is approximately 1.5 km in length with associated magnetic highs on both sides. All three conductors remain undrilled. The Dreaver Lake mineral claims are located approximately 12 km southeast of the Ramp Metals property.

The Dreaver Lake property is contiguous to that of Eagle Plains Resources where trench sampling on the Cook showing returned 79.96 g/t Au over 1.0 metre, and a grab sample returned up to 78.84 g/t Au (gold), 2.7 g/t Ag (silver), 0.146 per cent Pb (lead) and 0.019 per cent Cu (copper) (Eagle Plains website, 2025). Approximately five kilometres southwest of the Dreaver Lake property, Fathom Nickel is currently exploring at Gochager Lake where recent drilling intersected 18.1 metres at 2.43 per cent Ni (nickel), 0.51 per cent Cu and 0.18 per cent Co (cobalt) (Fathom Nickel, April 12, 2023). Rock chip and soil geochemical sampling has extended the Gochager footprint by two kilometres to the southwest and two kilometres to the Northeast (Fathom Nickel, Aug. 26, 2024). Underground exploration drilling at the past-producing Roy Lloyd mine located 20 kilometres south of Dreaver Lake intersected 8.17 metres (5.32 metres true width) of 66.85 g/t Au, 6.79 metres (4.42 metres true width) of 80.12 g/t Au and 2.23 metres (1.73 metres true width) of 128.37 g/t Au at a depth of approximately 240 metres.

Argo recently completed a compilation of all historic data on its mineral claims acquired this past year (Argo Gold, Aug. 7, 2024, and Argo Gold, Jan. 20, 2025); and identified additional prospective mineral exploration ground where anomalous gold, silver and copper in lake sediments (GSC) coincide with an interpreted fold axis from historic geophysical data. Argo's mineral claim position in the Rottenstone belt covers areas of interest including: anomalous copper in soils, electromagnetic conductors identified by historic geophysical surveys, ultramafic rocks, the Gow Lake meteor crater area and the geological strike extension of the Rottenstone mine.

Argo Gold has initiated the permitting process for the company's mineral claims in the Rottenstone belt, Saskatchewan.

The Fraser Institutes Annual Survey of Mining companies ranked Saskatchewan as third in the world for mineral exploration and mining investment attractiveness Argo is well positioned to advance mineral exploration with high-quality assets in a mining-friendly jurisdiction.

National Instrument 43-101 disclosure

The technical information in this news release has been reviewed and approved by Michael Guo, PhD, PGeo, MG Geological Consulting Ltd., who is a qualified person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Historical geochemical, drilling results and geological descriptions quoted in this news release were taken directly from news releases by other mineral explorers and from information provided by the government of Saskatchewan. Management cautions that results reported by other parties on adjacent properties have not been verified nor confirmed by its qualified person, but Argo believes they create a scientific foundation for the exploration in the district. Management further cautions that historical results or discoveries on adjacent or nearby mineral properties are not necessarily indicative of the results that may be achieved on Argo's mineral properties.

About Argo Gold Inc.

Argo Gold is a Canadian mineral exploration and development company, and an oil producer. Information on Argo Gold can be obtained from SEDAR+ and on Argo Gold's website.

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