Argonaut Gold Announces Record Quarterly Production of 56,986 Gold Equivalent Ounces and Annual Production of 203,483 Gold Equivalent Ounces; Provides 2021 Production, Cost and Capital Guidance

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TORONTO, Jan. 19, 2021 /CNW/ – Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce record quarterly production of 56,986 gold equivalent ounces (“GEOs” or “GEO”)1, representing a 16% increase over the previous quarter and a 20% increase over the same period the previous year.  Argonaut produced 203,483 GEOs in 2020 and had a cash balance of approximately $214 million at December 31, 2020.  The table below details fourth quarter and full year 2020 production results.  All dollar amounts are expressed in United States dollars, unless specified.

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