Argonaut Gold Announces Quarterly Production of 58,777 Gold Equivalent Ounces, $39.6 Million of Cash Flow1 and Provides Third Quarter 2021 Operating and Financial Results

Toronto, Ontario – (November 15, 2021) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce its operating and financial results for the third quarter ended September 30, 2021. The Company reports quarterly production of 58,777 gold equivalent ounces2 (“GEO” or “GEOs”), cash flow from operating activities before changes in noncash operating working capital and other items of $39.6 million, net income of $15.0 million or earnings per basic share of $0.05 and adjusted net income3 of $17.4 million or adjusted earnings per basic share2 of $0.06. All dollar amounts are expressed in United States dollars, unless otherwise specified (C$ refers to Canadian dollars).

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