Argo Gold Commences Exploration at its Uchi Gold Project

Toronto, Ontario--(Newsfile Corp. - July 29, 2020) - Argo Gold Inc. (CSE: ARQ) ("Argo Gold" or the "Company") has commenced exploration at its Uchi Gold Project located 70 kilometres east of Red Lake, Ontario. Argo Gold's first drill program intersected 132 g/t Au over 1.8 metres at the high-grade Woco Vein and 34.4 g/t Au over 0.5 metres at the Northgate Shear Zone. The Woco Vein and the Northgate Shear Zone are 2 kilometres apart on a 5 kilometre mineralized trend that is considered highly prospective. The Summer 2019 Biogeochem Survey covered the main mineralized trend and identified multiple high priority anomalies proximal to the high-grade Woco vein and also identified additional new anomalies along the 5 kilometre strike length of the main mineralized trend; (Argo Gold PR, October 28 2019). West of the main mineralized trend, another mineralized trend - the HST Zone and the Raingold vein system - was sampled in the Summer 2019 field program and returned anomalous gold assays over 600 metres of strike length. One of the continuous chips of five samples assayed 14.5 g/t Au across 2.6 metres at Raingold. (Argo Gold PR, November 6 2019).

Argo Gold has commenced field work and is carrying out mechanical stripping and hydraulic washing at areas of known high-grade gold mineralization and identified anomalies for geological and structural mapping for a planned follow-on Summer 2020 drill program.

Bill Kerr, P.Geo, Exploration Geologist of Argo Gold, is the Qualified Person who assumes responsibility for the technical disclosures in this news release.

About Argo Gold Inc.

Argo Gold is a Canadian mineral exploration and development company, focused on gold exploration projects in central and northwestern Ontario. Argo Gold recently added the Talbot Lake Gold Project to its portfolio. (Argo Gold PR, June 11 2020). All of Argo Gold's projects are 100% owned by the company and its shareholders. Information on Argo Gold can be obtained from SEDAR at www.sedar.com and on the Company's website at www.argogold.ca. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) under the ticker ARQ, on the OTC under the ticker ARBTF and on the FSE under P3U.

For more information please contact:

Judy Baker, CEO
(416) 786-7860
jbaker@argogold.ca

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.

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