Argo Enters into Strategic Alliance
Argo Enters into Strategic Alliance
Toronto, Ontario--(Newsfile Corp. - August 25, 2022) -
Argo
Gold Inc. (CSE:
ARQ
) (OTCQB:
ARBTF
)
(XFRA, XSTU, XBER:
A2ASDS
) ("
Argo
") is pleased to announce that it has entered into an agreement
with Jasper Mining Corporation (TSXV: JSP) ("Jasper") whereby the companies will share technical
knowledge and expertise, employing the particular technical strengths of each management team in their
respective resource industry.
Each of JSP and Argo have a similar asset mix, including lands which
contain significant quantities of precious and base metals within Canada; yet both aspire to expand their
operations to include a significant, or dominant, component in the oil and gas sector.
The joint-use of technical expertise and resources will have a near-term impact of reducing specific
consulting costs, where currently each company must retain professionals to fill gaps in its team's
technical ability to effectively evaluate acquisitions and conduct operations, without incurring costs to the
respective corporation. The initial term of the alliance shall be for 12 months; but can be terminated at
any time by either company giving written notice to the other.
Jasper's technical strengths include a management team with more than 100 years of combined
experience in financing and operating oil and gas properties, with a particular emphasis in highly
structured plays in western Canada. Jasper's team has also successfully managed international
stratigraphic and structural oil and gas operations in South America, Central America and the United
States. Its members have founded and concluded several publicly listed companies, including Manitok
Energy Inc., Ikkuma Resources Corp., and Briko Energy Corp. The team has successfully completed
more than a dozen asset acquisitions in western Canada and merged these assets with their existing
companies. The latest acquisition, in particular, involved more than 200 individuals and more then
20,000 BOE/d which flowed predominantly through several deep-cut sour gas plants.
Argo's strengths include a management team who has founded multiple junior resource companies,
transacted on dozens of mineral projects, and raised over $30 million for mineral exploration and
development. Argo's technical consultants have decades of experience in mineral exploration and
development across many commodities including gold, copper, base metals, lithium and other battery
metals.
Argo also has oil and gas expertise at the board level.
Expertise in identifying high quality
exploration projects has been key to its financing success.
Argo has recognized a long-term lull in oil and
gas exploration and development activity and is interested in pursuing these opportunities in the positive
post-pandemic oil and gas price scenario.
About Argo Gold
Argo Gold is a Canadian mineral exploration and development company.
Information on Argo Gold can
be obtained from SEDAR at
www.sedar.com
and on Argo Gold's website at
www.argogold.com
.
Argo
Gold is listed on the Canadian Securities Exchange (
www.thecse.com
) CSE:
ARQ
as well as OTCQB:
ARBTF
and XFRA, XSTU, XBER:
A2ASDS.
For more information please contact:
Judy Baker, CEO
(416) 786-7860
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES
PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information"
within the meaning of applicable securities law.
Forward-looking information is frequently
characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate"
and other similar words, or statements that certain events or conditions "may" or "will" occur.
Forward-
looking statements are based on the opinions and estimates at the date the statements are made,
and are subject to a variety of risks and uncertainties and other factors that could cause actual events
or results to differ materially from those anticipated in the forward-looking statements including, but not
limited to delays or uncertainties with regulatory approvals, including that of the CSE.
There are
uncertainties inherent in forward-looking information, including factors beyond the Company's control.
The Company undertakes no obligation to update forward-looking information if circumstances or
management's estimates or opinions should change except as required by law.
The reader is
cautioned not to place undue reliance on forward-looking statements.
Additional information
identifying risks and uncertainties that could affect financial results is contained in the Company's
filings with Canadian securities regulators, which filings are available.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/134837