Argo GOLD Announces Shares FOR Debt Settlement

ARGO GOLD INC.

365 Bay Street, Suite 400

Toronto, Ontario M5H 2V1

FOR IMMEDIATE RELEASE

ARGO GOLD ANNOUNCES SHARES FOR DEBT SETTLEMENT

Toronto, CANADA, January 29, 2019 – Argo Gold Inc. (“Argo Gold” or the “Company”) (CSE:

ARQ) announces that it has settled an aggregate of $ 12,000 of indebtedness of the Company

with an arm’s length creditor through the issuance of an aggregate 80,000 common shares

(“Common Shares”) at a price of $0.15 per Common Shares.

The Common Shares issued pursuant to the debt settlement are subject to a four month and

one day hold period pursuant to applicable securities laws.

About Argo Gold Inc.

Argo Gold is listed on the Canadian Securities Exchange under the ticker symbol ARQ. Argo Gold

is focused on gold exploration projects in central and northwestern Ontario. Argo Gold’s

website is www.argogold.ca.

For more information, please contact:

Paul Poggione Ken Storey

Corporate Development Chief Financial Officer

613-277-1989 905-301-3404

[email protected] [email protected]

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. For ward-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. Add itional 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 at

www.sedar.com