Argonaut Gold Announces Q3 Production of 26,322 Gold Equivalent Ounces and Revised Guidance

TORONTO, ONTARIO–(Marketwired – Oct. 17, 2016) – Argonaut Gold Inc. (TSX:AR) (“Argonaut”, “Argonaut Gold” or the “Company”) reports production of 26,322 gold equivalent ounces (“GEOs”) during the third quarter ended September 30, 2016 (“Q3”). The lower than anticipated production during the third quarter is primarily a result of two factors at the Company’s El Castillo mine: higher than anticipated rainfall and changes in mine sequencing. Given the lower than planned production, the Company is adjusting its 2016 production guidance to between 115,000 and 120,000 GEOs (previously 130,000 to 135,000 GEOs). All dollars in this press release are expressed in U.S. dollars, unless otherwise noted.

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