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Argo’s Oil Operations Update

Toronto, CANADA, January 4, 2023 – Argo Gold Inc’s. (“Argo” or the “Company”) (CSE: ARQ, OTC: ARBTF and XFRA, XSTU, XBER: A2ASDS) oil production results for November 2023 are:

November 2023 Oil Production Argo’s interest Argo’s Oil Revenue Argo’s net operating cash flow

Lindbergh 1

(37.5% interest)

88 bbl/day 33 bbl/day $60,429 $36,533

Lloyd

(18.75% interest)

230 bbl/day 43 bbl/day $89,208 $78,752

In late November, a second horizontal oil well was drilled and completed at Lindbergh in the Sparky formation.  The Lindbergh 1 oil well was shut down for drilling of the Lindbergh 2 oil well resulting in lower production.  The Lindbergh 2 oil well is on production since the end of November.

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 OTC: ARBTF and XFRA, XSTU, XBER: A2ASDS.

Judy Baker, CEO

(416) 786-7860
jbaker@argogold.ca
www.argogold.com

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 the financing not being completed in its entirety, or at all, delays or uncertainties with drilling and surface preparation work, and not achieving hoped for exploration success.   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.

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