An anonymous director reports

ARGYLE CLOSES FIRST TRANCHE OF LIFE OFFERING FOR C$500,000

Argyle Resources Corp. has closed the first tranche of its previously announced offering of units, offered at a price of 20 cents per unit, for aggregate gross proceeds of $500,000. Each unit comprises one common share in the authorized share structure of the company plus one share purchase warrant. Each warrant will entitle the holder thereof to purchase one share at an exercise price of 27 cents for 24 months.

The units were issued under the listed issuer financing exemption under Part 5A.2 of National Instrument 45-106, Prospectus Exemptions. The units are therefore not subject to resale restrictions pursuant to applicable securities laws.

There is an offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website.

As consideration for the services rendered by certain finders, the company paid, in aggregate, cash fees of $16,800 and issued 84,000 common share purchase warrants, with each broker warrant exercisable for one common share of the company at a price of 27 cents for a period of 24 months.

The net proceeds of the offering are intended to be used for legal and accounting expenses, marketing and advertising, mineral property exploration activities and expenditures, general working capital purposes, and as otherwise described in the offering document.

About Argyle Resources Corp.

Argyle Resources is a junior mineral exploration company engaged in the business of acquiring, exploring, staking and evaluating natural resource properties in North America. The company owns a 100-per-cent interest in the Pilgrim Islands, Matapedia, Lac Comporte and Saint Gabriel quartzite silica projects in Quebec, Canada. The company also has an option to acquire 100 per cent of the following properties: the Clay Howells rare earth element project in Northern Ontario, Canada, and the Frenchvale graphite property located in Nova Scotia, Canada. Argyle is engaged in a research partnership with the National Institute of Scientific Research (INRS), a high-level research and training institute financed by the Quebec government to conduct exploration programs on the company's silica projects.

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