Argo Gold Inc. (CSE: ARQ) (“Argo Gold” or the “Company”) has entered into a mining claim acquisition agreement with Dollard Mines Ltd. pursuant to which Argo Gold can acquire a 100% interest certain mineral claims located in Earngey Township of the Red Lake Mining District in exchange for an aggregate of 1,000,000 common shares of the Company and the grant of a 2% NSR on the property. The acquisition of the mineral claims is subject to receipt of regulatory approval and the common shares issuable thereunder will be subject to a statutory hold period of four months and one day from the date of issuance.

The Woco Gold Project is comprised of 20 mineral claims in Earngey Township covering 320 hectares located northwest of Uchi Lake proximal to the Uchi Lake Deformation Zone in the Birch-Uchi Greenstone Belt. The Woco Gold Project is located 85 kilometres northeast of Ear Falls, Ontario and 1.5 kilometres south of the past-producing Uchi Mine.

Diamond drilling by St. Jude Resources in 1993 (Source: Assessment Files, MNDM) identified high grade gold quartz vein mineralization on a well-identified stratigraphic/structural horizon. Highlights of the drill results are as follows:

Lower “Rich Woco Vein” Intersections

Upper “Weak Woco Vein” Intersections

NOTE: For Drill Holes 1,4,11,20,21,22

The weighted averages for the six drill holes intersections near the crest of the “Rich Woco Vein” had a weighted averaged of 1.10 ounces Gold per ton (uncut) over an averaged width of 4.0 feet for 300 foot length of vein (after Chester J. Kuryliw, St. Jude Resources Ltd., 1993). All assays were done by Wawa Assaying in 1993 using a Fire Assay with Gravimetric finish.

Additional drilling was completed by St. Jude Resources in 1994 to test the down-plunge and strike extension of the vein (Source: Assessment Files, MNDM); highlights of these results are as follows:

Woco Down-Plunge and Strike Extension Intersections

All assays were completed by Accurassay Laboratories, Thunder Bay, Ontario in 1994 using a standard fire assay method. The results from duplicate samples were averaged. True widths were not provided with 1994 drill data.

The Company has not yet completed the work necessary to verify the past exploration results and since some of these results are historical in nature and some results predate National Instrument 43-101 (“NI 43-101”) standards. In addition, a qualified person has not completed sufficient work to verify these historical results. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Delio Tortosa, P.Eng., a “Qualified Person” as defined by NI 43-101 and a Technical Advisor for Argo Gold.

Argo Gold believes follow-up exploration activity is warranted at the Woco Gold Project.

About Argo Gold Inc.

Argo Gold is listed on the Canadian Securities Exchange under the ticker ARQ. Argo Gold is focused on gold exploration projects Central and Northwestern Ontario. All of Argo Gold’s projects are 100 per cent owned and have indications of economic viability.

Information relating to the Company and its properties can be obtained from SEDAR at www.sedar.com and on the Company’s website at www.argogold.ca. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) under the ticker ARQ and on the OTC under the ticker ARBTF.

For more information please contact:

Judy Baker
Chief Executive Officer and Director
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(416) 786-7860