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ARQ.CN ·

Argo Gold Inc. - Stock Option Cancellation 01-Feb-21

Share Capital & Compensation

350 Bay Street, Suite 700

Toronto, ON M5H 2S6

Argo Gold Stock Option Cancellation

Toronto, CANADA, January 31, 2021 – Argo Gold Inc. (“Argo Gold” or the “Company”) (CSE:

ARQ) (OTCQB: ARBTF) announces that all of the 5, 000,000 stock options currently outstanding

under the Company’s stock option plan have been cancelled. The Company plans to make

amendments to it’s existing stock option plan and submit the revised plan for approval at the

next annual general meeting for shareholders.

About Argo Gold Inc.

Argo Gold is a Canadian mineral exploration and development company, focused on gold

exploration at the Uchi Gold Project in the Red Lake District. Argo Gold recently added the Talbot

Lake Gold Project to its portfolio. (Argo Go ld PR, June 11 2020). Information on Argo Gold can

be obtained from SEDAR at www.sedar.com and on Argo Gold’s website at www.argogold.ca.

Argo Gold is listed on the Canadian Se curities Exchange (www.thecse.com) CSE:ARQ, as well as

OTCQB:ARBTF and FSE:P3U.

For more information please contact:

Judy Baker, CEO

(416) 786-7860

[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. 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 dat e 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 delay s 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 inf ormation 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.