TORONTO, Ontario – (May 5, 2023) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) today reported financial and operating results for the three months ended March 31, 2023 (the “first quarter”), as well as a development update for its Magino Project. All dollar amounts are expressed in United States dollars, unless otherwise specified (CA$ refers to Canadian dollars).