Argonaut Gold Chairman Brian Kennedy Retiring; Jim Kofman to Become Chairman

TORONTO, ONTARIO--(Marketwired - Nov. 24, 2015) - Argonaut Gold Inc. (TSX:AR) (the "Company", "Argonaut Gold" or "Argonaut") announces the retirement of Brian Kennedy from the Board and as a Chairman of the Company effective December 31, 2015 for personal reasons.

Mr. Kennedy has been Chairman of the Board of Argonaut since the Company went public in December 2009. Prior to that Mr. Kennedy was Chairman of Meridian Gold Inc.

Mr. Jim Kofman will assume the role of Chairman effective December 31, 2015. Mr. Kofman has been a director of the Company since January 2010.

Mr. Pete Dougherty, President and Chief Executive Officer noted, "I have been privileged to work with Brian in many ventures and thank him for his leadership of the Argonaut team. On behalf of all of us I wish he and Nancy a long and happy retirement."

Mr. Kofman stated, "On behalf of the Board, management and all stakeholders in Argonaut Gold, I wish to thank Mr. Kennedy for his years of leadership in the mining industry in general. His most recent service at Argonaut has been exemplary."

About Argonaut Gold

Argonaut Gold is a Canadian gold company engaged in exploration, mine development and production activities. Its primary assets are the production stage El Castillo mine in Durango, Mexico, and La Colorada mine in Sonora, Mexico. Advanced exploration stage projects include the San Antonio project in Baja California Sur, Mexico, the Magino project in Ontario, Canada and the San Agustin project in Durango, Mexico. The Company also has several exploration stage projects, all of which are located in North America. The Company is pursuing a development strategy for the San Agustin project that it expects to rely upon common infrastructure with the nearby El Castillo mine. In the event that this strategy is proven out, the Company intends any future development of the San Agustin project to proceed as an extension of the El Castillo mine.