Exploration

Hardrock East – Ontario, Canada

The Hardrock East Gold Project consists of a land package totaling approximately 200 square kilometres covering the eastern portion of the Beardmore-Geraldton gold camp in Northern Ontario. The land position includes claim blocks known as Milestone, Adel and Klotz Lake. In October of 2011, Goldstream entered into an agreement with Prodigy which allowed Goldstream, through various financing and work commitments, to acquire a 100% interest in the Hardrock East project.

Exploration by Prodigy occurred mainly during 2010 and 2011 and included extensive geologic study and fieldwork. In December of 2012, Goldstream contracted AMEC to conduct a non-compliant resource estimate on the Milestone target. The resultant resource from this study was designated only as a mineral inventory with no economic parameters applied except for using varying cutoff grades. The zone of mineralization was modeled by Goldstream geologists and at a 0.4 g/t cut-off, AMEC determined that the Milestone deposit contains a mineral inventory of 25.5 million tonnes grading 0.87 g/t gold for 710,713 ounces. In 2015, Argonaut acquired 100 % of the Hardrock East property.

Highland - Ontario, Canada

The Highland project is situated along the Goudreau-Lochalsh Deformation Zone 25 km north of Wawa, Ontario. The Deformation Zone is a regional structure more than 30 km long and up to 4.5 km wide which hosts a number of gold deposits including Magino, Island Gold, Kremzar, and four smaller past producers. The Highland Project is the largest group of claims along the Deformation Zone, with 81 claims covering over 21 square km 100% controlled by Argonaut Gold. To date Argonaut has identified at least 18 gold occurrences on the project. Gold is associated with quartz veins that commonly contain visible gold hosted in intensely deformed and altered Archean rocks of the Michipicoten Greenstone Belt. In addition to gold, a number of silver and cobalt occurrences have been identified in and around the claims.

Argonaut is currently conducting early stage exploration on the project.