Argonaut Confirms the Filing of Prefeasibility Study for the Magino Project in Wawa, Ontario

TORONTO, ONTARIO--(Marketwired - Feb. 22, 2016) - Argonaut Gold Inc. (TSX:AR) ("Argonaut Gold", "Argonaut" or the "Company") is pleased to confirm the filing today of its prefeasibility study in relation to its Magino Property in Wawa, Ontario, pursuant to National Instrument 43-101 of the Canadian Securities Administrators. For further information on the Magino Project, please see the technical report entitled "Preliminary Feasibility Study Technical Report For the Magino Project, Wawa, Ontario, Canada" effective date of January 18, 2016 and available on www.sedar.com and under the Company's profile as well as the Company's website, www.argonautgold.com.

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.