Argonaut Gold Acquires Key Mineral Concessions Surrounding its San Agustin Mine from Fresnillo for US$5.75 Million and More Than Quadruples Mineral Tenure in the San Agustin District

TORONTO, Oct. 12, 2021 /CNW/ – Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce that its wholly-owned subsidiary, Minera Real Del Oro, S.A. de C.V., has acquired key mineral concessions from Desarrollos Mineros El Aguila, S.A. de C.V., a wholly-owned subsidiary of Fresnillo Plc for a cash consideration of US$5.75 million. The mineral concessions acquired more than quadruples Argonaut’s mineral tenure and area of potential exploration in the San Agustin district to 5,884 hectares.  The acquired mineral concessions consist of a very large concession of 4,791 hectares surrounding all of Argonaut’s existing concessions in the district, as well as four key concessions totalling 27 hectares immediately surrounding the San Agustin pit (see Figure 1 below). 

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