Mr. Jeff Stevens reports

ARGYLE RESOURCES RECEIVES FINAL APPROVAL FOR 5:1 SHARE CONSOLIDATION

Further to Argyle Resources Corp.'s previously announced proposed consolidation of its issued and outstanding common shares on the basis of five preconsolidation common shares for one postconsolidation common share, the company has received all required approvals, including approval from the Canadian Securities Exchange (CSE), to proceed.

The consolidation is intended to improve the company's capital structure and provide greater flexibility in pursuing future corporate initiatives and financing opportunities.

The company's common shares will begin trading on a postconsolidation basis under the existing ticker symbol ARGL.

Consolidation details

Consolidation ratio:  5:1 (five preconsolidation shares for one postconsolidation share)

Ticker symbol:   ARGL

New Cusip:  04031A201

New ISIN:  CA04031A2011

No fractional common shares will be issued as a result of the consolidation. Any fractional interests will be rounded in accordance with applicable securities laws and Canadian Securities Exchange policies.

Shareholders holding their shares through a broker, bank, trust company or other intermediary are not required to take any action. Their holdings will be automatically adjusted to reflect the consolidation.

The company currently has approximately 56,870,298 common shares issued and outstanding. Following completion of the consolidation, the company expects to have approximately 11,374,060 common shares issued and outstanding, subject to adjustments for fractional shares and 3,705,218 common shares reserved for issuance

About Argyle Resources Corp.

Argyle Resources is a junior mineral exploration company engaged in the acquisition, exploration, staking and evaluation of natural resource properties in North America. The company holds a 100-per-cent interest in the Pilgrim Islands, Matapedia, Lac Comporte and Saint Gabriel quartzite-silica projects in Quebec, Canada, and has entered into an option agreement to acquire a 100-per-cent interest in the McKay Hill silver-gold property in Yukon, Canada.

We seek Safe Harbor.