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Toronto, Ontario – (October 15, 2015) Argonaut Gold Inc. (“Argonaut”, “Argonaut Gold” or the “Company”; TSX: AR) announced today that it produced 28,876 gold equivalent ounces (“GEO” or “GEOs”; calculated at conversion ratios set out below) during the third quarter ended September 30, 2015. This included 17,297 GEOs at its 100% owned El Castillo Mine (“El Castillo”) located in the State of Durango, Mexico and 11,579 GEOs at its 100% owned La Colorada Mine (“La Colorada”) located near Hermosillo, Mexico. Argonaut is well positioned to achieve its full year production guidance of 135,000 to 145,000 GEOs.