Argyle Resources Corp. Announces Filing of 22 Mineral Lode Claims Near Bovill, Idaho
Argyle Resources Corp. Announces Filing of
22 Mineral Lode Claims Near Bovill, Idaho
Calgary, Alberta--(Newsfile Corp. - March 7, 2025) - Argyle Resources Corp. (CSE: ARGL) (OTCQB:
ARLYF) (FSE: ME0) ("Argyle" or the "Company") is pleased to announce that its exploration partner,
Rangefront Mining Services ("Rangefront"), has filed 22 mineral lode claims on the Company's behalf
with the U.S. Bureau of Land Management (BLM) near Bovill, Idaho.
The Company is naming these
consolidated claim blocks, the Bovill Silica Project.
Figure 1: Claim Map of the Bovill Silica Project
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The newly staked claims are strategically located in a region known for its rich deposits of silica and
feldspar. Notably, a portion of the newly staked claims includes a historical feldspar quarry, further
supporting the prospectivity of the site.
Figure 2: Historical Mines and Prospects in the Bovill Region
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The 22 lode claims have been submitted to the BLM for application processing, with finalization
expected within approximately six weeks. Argyle and Rangefront will continue to evaluate the potential of
the claims and explore opportunities to advance the project in alignment with the Company's strategic
growth initiatives.
"We are excited about the acquisition of these new claims, which add to our expanding portfolio of
mineral assets," said Jeff Stevens, CEO of Argyle Resources Corp. "The historical mining activity in the
region, coupled with our technical team's expertise, presents a strong opportunity to unlock value from
these properties."
The Company will provide further updates as the permitting process advances and as exploration
activities commence on the claims.
The Company is pleased to announce that it has closed its previously-announced non-brokered private
placement (please see news release dated December 12, 2024, for aggregate gross proceeds of
$300,000 through the issuance of 555,555 units (each, a "
Unit
") at a price of $0.54 per Unit (the
"
Offering
").
Each Unit is comprised of one (1) common share of the Company (a "
Common Share
")
and one common share purchase warrant ("
Warrant
"), with each Warrant entitling the holder to
purchase one Common Share at a price of $0.65 for a period of 24 months from the date of the closing.
The Company intends to use the net proceeds of the Offering for expenditures on its mineral exploration
properties, and for general working capital purposes.
All securities issued under the Offering are subject to a four-month and one-day hold period.
The securities issued pursuant to the Offering have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold within the United
States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an
applicable exemption from the U.S. registration requirements. This news release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the
United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
The Company also announces it has granted 600,000 stock options ("
Options
") to a consultant of the
Company, pursuant to its equity incentive Plan, and has granted 1,250,000 restricted share units
("
RSUs
") to certain directors, officers and consultants of the Company.
George M. Yordanov, OGQ., P.GEO., a consultant to the Company, is the Qualified Person (as such
term is defined in National Instrument 43-101), who has reviewed and approved the scientific and
technical disclosure contained in this news release.
About Rangefront Mining Services
Rangefront Mining Services is a leading provider of geological and exploration services, specializing in
claim staking, permitting, and mineral assessment to support mining companies in advancing their
projects.
About Argyle Resources Corp.
Argyle Resources Corp. is a junior mineral exploration company engaged in the business of acquiring,
exploring, staking and evaluating natural resource properties in North America. In addition to the Saint
Gabriel project, the Company currently holds an option to acquire up to 100% of the Frenchvale Graphite
Property located in Nova Scotia, Canada and owns 100% interest in the Pilgrim Islands, Matapedia and
Lac Comporté quartzite silica projects in Quebec, Canada. Argyle is engaged in a research partnership
with the National Institute of Scientific Research (INRS), a high-level research and training institute
funded by the Québec government to conduct exploration programs on the Company's silica projects.
The Company was incorporated in 2023 and its head office is located in Calgary, Alberta, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
'Jeffrey Stevens'
President & CEO
For all other inquiries:
Email:
Phone: (825) 724-0033
Website:
www.argyleresourcescorp.com
Forward-Looking Statements
All statements included in this press release that address activities, events or developments that Argyle
expects, believes or anticipates will or may occur in the future are forward-looking statements. Such
statements may involve, but are not limited to, statements with respect to the exploration and
development of the Company's mineral properties and the use of proceeds from the Offering. These
forward-looking statements involve numerous assumptions made by Argyle based on its experience,
perception of historical trends, current conditions, expected future developments and other factors it
believes are appropriate in the circumstances. In addition, these statements involve substantial known
and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts,
projections and other forward-looking statements will prove inaccurate, certain of which are beyond
Argyle's control. Readers should not place undue reliance on forward-looking statements. Except as
required by law, Argyle does not intend to revise or update these forward-looking statements after the
date hereof or revise them to reflect the occurrence of future unanticipated events.
Neither the Canadian Securities Exchange nor its Regulation Service Provider accepts responsibility for
the adequacy or accuracy of this news release.
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