TORONTO, March 3,
2022 /CNW/ - Argonaut Gold Inc. (TSX: AR)
("Argonaut" or the "Company") is pleased to announce
it has filed a technical report in accordance with National
Instrument 43-101 – Standards of Disclosure for Mineral
Projects, on its 100% owned Magino gold project, located in
Ontario, Canada.
The technical report, entitled "Magino Gold Project,
Ontario, Canada, NI 43-101
Technical Report, Mineral Resource and Mineral Reserve Update"
(the "Magino Technical Report"), effective date of
February 14, 2022, has been prepared
for Argonaut by Independent Mining Consultants, Inc. with the
assistance of a number of specialized consultants, including SLR
Consulting (Canada) Ltd., and T.R.
Raponi Consulting Ltd. The Magino Technical Report is available on
SEDAR (www.sedar.com) under Argonaut's issuer profile.
Argonaut's news release dated February
14, 2022 (entitled "Argonaut Gold Announces
Updated Technical Reports, 2021 Production, 2022 Guidance
and Provides Exploration Update") summarized certain key
results, assumptions and estimates contained in the Magino
Technical Report. The Company is pleased to report that there are
no material differences between the key results, assumptions and
estimates contained in the Magino Technical Report and its news
release dated February 14, 2022.
Cautionary Note Forward-Looking Statements
This press release contains certain "forward-looking statements"
and "forward-looking information" under applicable Canadian
securities laws concerning the business, operations and financial
performance and condition of Argonaut Gold Inc. ("Argonaut" or
"Argonaut Gold"). Forward-looking statements and forward–looking
information include, but are not limited to statements with respect
to the Magino project, the realization of mineral reserve
estimates; the timing and amount of estimated future production;
costs of production; estimated production and mine life of the
various mineral projects of Argonaut; timing of approval for
modifications to existing permits; permitting and legal processes
in relation to mining permitting and approval; the benefits of the
development potential of the properties of Argonaut; the future
price of gold, copper, and silver; the estimation of mineral
reserves and resources; success of exploration activities; and
currency exchange rate fluctuations. Except for statements of
historical fact relating to Argonaut, certain information contained
herein constitutes forward-looking statements. Forward-looking
statements are 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", "should" or "will" occur. Forward-looking
statements are based on the opinions and estimates of management at
the date the statements are made and are based on a number of
assumptions and subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
Many of these assumptions are based on factors and events that are
not within the control of Argonaut and there is no assurance they
will prove to be correct.
Factors that could cause actual results to vary materially from
results anticipated by such forward-looking statements include the
possibility of project cost overruns or unanticipated costs and
expenses; variations in ore grade or recovery rates; changes in
market conditions; risks relating to the availability and
timeliness of permitting and governmental approvals; risks relating
to international operations; fluctuating metal prices and currency
exchange rates; changes in project parameters; labour disputes and
other risks of the mining industry, failure of plant, equipment or
processes to operate as anticipated.
These factors are discussed in greater detail in Argonaut's most
recent Annual Information Form and in the most recent Management's
Discussion and Analysis filed on SEDAR, which also provide
additional general assumptions in connection with these statements.
Argonaut cautions that the foregoing list of important factors is
not exhaustive. Investors and others who base themselves on
forward-looking statements should carefully consider the above
factors as well as the uncertainties they represent and the risk
they entail. Argonaut believes that the expectations reflected in
those forward-looking statements are reasonable, but no assurance
can be given that these expectations will prove to be correct and
such forward-looking statements included in this press release
should not be unduly relied upon. These statements speak only as of
the date of this press release.
Although Argonaut has attempted to identify important factors
that could cause actual actions, events, or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results
not to be anticipated, estimated or intended. There can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Argonaut
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change
except as required by applicable securities laws. The reader is
cautioned not to place undue reliance on forward-looking
statements. Statements concerning mineral reserve and resource
estimates may also be deemed to constitute forward-looking
statements to the extent they involve estimates of the
mineralization that will be encountered if the property is
developed. Comparative market information is as of a date prior to
the date of this document.
About Argonaut
Argonaut is a Canadian gold company engaged in exploration, mine
development and production. Its primary assets are the
El Castillo mine and San Agustin mine in Durango, Mexico, the La Colorada mine in Sonora, Mexico and the Florida Canyon mine in
Nevada, USA. The Company also
holds the construction stage Magino project, the advanced
exploration stage Cerro del Gallo
project and several other exploration stage projects, all of which
are located in North America.
SOURCE Argonaut Gold Inc.