ARGONAUT GOLD ANNOUNCES THE ACQUISITION OF THE CERRO DEL GALLO PROJECT IN GUANAJUATO, MEXICO FOR US$15 MILLION

http://www.argonautgold.com/_resources/news/nr_20171114.pdf

Toronto, Ontario – (November 14, 2017) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce its has reached an agreement with Primero Mining Corp. (“Primero”) whereby it will acquire the Cerro del Gallo project (“CDG” or the “Project”) through the purchase of all of the issued and outstanding shares of the Primero subsidiary San Anton Resource Corporation for cash consideration of $15 million, which is payable upon closing.  Argonaut expects to be able to recover approximately $1.7 million of value added tax, which reduces the total purchase price to $13.3 million.  The Company expects the transaction to close on or before November 30, 2017.

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