Ms. Judy Baker reports

ARGO TO RENEW ITS NORMAL COURSE ISSUER BID

Argo Gold Inc. intends to renew its normal course issuer bid (NCIB) to purchase for cancellation, from time to time over a 12-month period starting June 27, 2025, common shares of the company in an aggregate amount of up to 3,654,388 common shares, representing 5 per cent of Argo's issued and outstanding common shares. The NCIB will end on June 26, 2026, unless the maximum number of common shares is purchased before then or Argo provides earlier notice of termination.

Since the inception of the original NCIB to the end of May 31, 2025, Argo Gold has purchased 777,307 shares out of the market and cancelled 747,807 shares. The uncancelled shares will be cancelled June 30, 2025.

The board and management of the company believe that the market price of the common shares may not fully reflect the value of its business and prospects, and as such believes that purchasing the common shares for cancellation is an appropriate strategy for increasing long-term shareholder value and represents an appropriate use of the company's financial resources.

The purchase and payment for the common shares will be made by Argo through the facilities of the Canadian Securities Exchange or alternative trading systems. The price paid for the common shares will be, subject to the applicable laws, the prevailing market price of such common shares on the CSE at the time of such purchase. Any common shares purchased by the company will be cancelled.

About Argo Gold Inc.

Argo Gold is a Canadian mineral exploration and development company, and an oil producer.