Argo to Acquire the Hurdman Silver-Zinc Project

Executive Summary

• Argo Gold Inc. entered into an agreement to acquire 100 % of the Hurdman Silver‑Zinc mineral claims (2474 ha) located ~120 km north of Timmins, Ontario.
• Consideration: issuance of 1,250,000 common shares at a deemed price of CAD $0.125 per share plus a small net smelter return royalty to the vendors.
• The project hosts historic intercepts including 3.0 % Zn & 12.1 g/t Ag over 23.6 m, 48.7 g/t Au over 0.5 m and 2.5 g/t Au over 4.1 m; mineralization remains open in all directions.

Key Details

• Acquisition Structure:
• Issuance of 1,250,000 Argo Gold common shares to vendors (deemed price CAD $0.125 per share).
• Shares subject to a statutory hold period of four months and one day from issuance date.

• Vendors will also receive a small net smelter return (“NSR”) royalty on the Hurdman claims.

• Project Overview:

• Name: Hurdman Silver‑Zinc Project (also referred to as Hurdman Silver‑Zinc‑Gold).
• Location: 120 km north of Timmins, Ontario; situated at the junction of the Quetico Metasedimentary Belt and the Kapuskasing Structural Zone.

• Size: 2,474 hectares covering known mineralization, structural and geophysical targets prospective for additional silver and zinc.

• Historical Mineralization (cited from prior data):

• Silver‑Zinc rich semi‑massive to massive sulphides, striking 450 m, dipping 15–25 m north, within ~150 m of surface.
• True thickness of historic drill widths: 1 – 38 m; mineralization open in all directions.

• Notable intercepts:

  • 3.0 % Zn & 12.1 g/t Ag over 23.6 m.
  • 48.7 g/t Au over 0.5 m.
  • 2.5 g/t Au over 4.1 m.

• Exploration Potential:

• Numerous untested conductors and structural corridors identified as potential hosts for additional mineralization.

• Classified as an Archean Sedex‑type deposit.

• Regulatory & Technical Review:

• Technical information reviewed and approved by Qualified Person Michael Guo (NI 43‑101).
• Disclosure includes caution that historic results on adjacent properties are not necessarily indicative of future outcomes on Argo’s holdings.

Notable Quotes

(No direct quotes were provided in the release.)