Ms. Joanna Longo reports

ARGONAUT GOLD ANNOUNCES NOTICE OF FIRST QUARTER FINANCIAL RESULTS & MAGINO PROJECT UPDATE

Argonaut Gold Inc. plans to release its first quarter financial and operating results for the three months ended March 31, 2023, on Friday, May 5, 2023. The announcement will also include a development update on the Magino project. A live conference call and audio webcast will follow at 10 a.m. ET where management will review the results, discuss Magino project highlights, and host a question-and-answer session.

Q1 2023 conference call information

Date and time: Friday, May 5, 2023, at 10 a.m. ET

Telephone: 1-888-664-6392 (toll-free North America) or 1-416-764-8659 (international)

Conference ID: 54944086

Presentation: Available for download on Argonaut website

Conference call replay

Telephone: 1-888-390-0541 (toll-free replay North America) or 1-416-764-8677 (international replay)

Entry code: 944086 followed by pound key

The conference call replay will be available from 12 p.m. ET on May 5, 2023, until 11:59 p.m. ET on May 12, 2023.

Virtual annual general and special meeting of shareholders

Argonaut will hold its annual general and special meeting of shareholders on the same date at 1:30 p.m. ET. The meeting will be held virtually via live audio webcast.

Virtual meeting information

Date and time: Friday, May 5, 2023, at 1:30 p.m. ET

Instructions: Voting and participation instructions for eligible shareholders were provided in the company's notice of the annual general and special meeting of shareholders and management information circular and are also available on the Argonaut website.

About Argonaut Gold Inc.

Argonaut Gold is a Canadian gold company with a portfolio of operations and multistage assets in North America. Focused on becoming a low-cost, mid-tier gold producer, the company is in the final stages of construction at its Magino project, located in Ontario, Canada. Magino is expected to achieve commercial production in the third quarter of 2023 and become Argonaut's largest and lowest-cost mine. The commissioning of Magino will be the first step in transforming the company as it enters a pivotal growth stage.