The TSX Venture Exchange has accepted for filing documentation with respect to the first tranche of a non-brokered private placement for Argus Metals Corp. announced Jan. 31, 2012:

Number of shares:  5,101,000 shares

Purchase price:  10 cents per share

Warrants:  2,550,500 share purchase warrants to purchase 2,550,500 shares

Warrant exercise price:  15 cents for an 18-month period

Placees:  47

Pro groups:  Dallas Fahy 150,000; Lynette Fahy 250,000; David L. Hamilton-Smith 150,000; Dimitri Kondratev 16,000; Else Emes 150,000; Carol Ellis 150,000; Donald Cromar 50,000; Thomas W. Seltzer 400,000

Finders' fees:  Scotia Capital Inc. will receive 28,000 units and 28,000 finder's warrants. Each unit has the same terms as the offering. Each finder's warrant is exercisable into a common share at 10 cents per share for an 18-month period. Tydewell Consulting (Vance Loeber) will receive 38,500 units and 77,000 finder's warrants. Each unit has the same terms as the offering. Each finder's warrant is exercisable into a common share at 10 cents per share for an 18-month period. Peter Krag-Hansen will receive 14,000 units and 14,000 finder's warrants. Each unit has the same terms as the offering. Each unit has the same terms as the offering. Each finder's warrant is exercisable into a common share at 10 cents per share for an 18-month period. Canaccord Genuity Group will receive $13,930 and 139,300 finder's warrants. Each finder's warrant is exercisable into a common share at 10 cents per share for an 18-month period. PI Financial will receive a finder's fee of $3,227, 66,500 units and 98,770 finder's warrants. Each unit has the same terms as the offering.