Toronto, Ontario – (April 30, 2018) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce its financial and operating results for the first quarter ended March 31, 2018. The Company reports a quarterly net cash1 increase of $7.2 million, cash flow from operating activities before changes in operating working capital of $21.0 million, net income of $12.2 million or earnings per share of $0.07, adjusted net income1 of $7.9 million or adjusted earnings per share1 of $0.04 and production of 40,853 gold equivalent ounces 2 (“GEO” or “GEOs”). All dollar amounts are expressed in United States dollars, unless otherwise specified (C$ refers to Canadian dollars).