Argonaut Gold Announces the Closing of its Acquisition of the Cerro del Gallo Project in Guanajuato, Mexico

ArgonautGold_20171127

Toronto, Ontario – (November 27, 2017) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce it has closed the previously announced acquisition of the Cerro del Gallo (“CDG” or the “Project”) through the purchase of all of the issued and outstanding shares of San Anton Resource Corporation, a subsidiary of Primero Mining Corp. (see press release dated November 14, 2017) for $15 million.  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 companies acquired as part of this transaction include approximately $22 million in tax losses.

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