Ms. Judy Baker reports

ARGO RECEIVES PERMIT FOR THE UCHI GOLD PROJECT

Argo Gold Inc. recently received its mineral exploration permit for the Uchi gold project, located 90 kilometres east of Red Lake, Ont.

The Uchi gold project covers 25 square kilometres of mineralized trends with three areas of known mineralization -- Woco, Northgate and Raingold. The 2021 exploration program extended the strike length of the mineralized zones at Woco to 400 metres, at Northgate to 500 metres and at Raingold a new zone of mineralization was identified 100 metres east of Raingold.

Drill results at Woco include 132.3 grams per tonne (g/t) gold (Au) over 1.8 metres at 88 metres and 20.4 g/t Au over 0.5 metre at 107 metres. Surface high-grade gold mineralization from channel sampling at Woco include 10.4 g/t Au over 1.1 metres and 58.2 g/t Au over 0.55 metre.

At Northgate, the known gold mineralization has a strike length of approximately 500 metres. Drill hole AGN-21-024 intersected 26.26 g/t Au over 2.65 metres, drill hole AGN-21-025 intersected 9.24 g/t Au over 0.95 metre and drill hole AGN-21-30, located 225 metres northeast of the main Northgate area, intersected 22.7 g/t Au over 1.15 metres. The Northgate zone has 15 metres of strike length of high-grade gold exposed at surface where channel sampling includes 43.5 g/t Au over 1.65 metres, 40.1 g/t Au over 1.65 metres, 37.7 g/t Au over 1.6 metres and 77.5g/t Au over 0.65 metre.

At Raingold, there is high-grade gold mineralization exposed at surface over 15 metres of strike length, including 31.2 g/t Au over 2.3 metres, 29.8 g/t Au over 1.9 metres, 10.3 g/t Au over 1.9 metres and 5.4 g/t Au over 2.65 metres.

National Instrument 43-101 disclosure

The technical information in this news release has been reviewed and approved by Michael Guo, who is a qualified person as defined in National Instrument 43-101. Historical geochemical, drilling results and geological descriptions quoted in this news release are from historical data, previous news releases and from information provided by the government of Ontario. Management cautions that historical results or discoveries on adjacent or nearby mineral properties are not necessarily indicative of the results that may be achieved on Argo's mineral properties.

About Argo Gold Inc.

Argo Gold is a Canadian mineral exploration and development company, and an oil producer.

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