Argonaut Responds to Trading Inquiries

TORONTO, ONTARIO--(Marketwire - Dec. 19, 2012) - Argonaut Gold Inc. (the "Company") (TSX:AR) has received inquiries regarding recent insider trading reports filed by members of senior management. The Company has been advised that certain members of management have engaged in trading their shares for personal tax planning purposes prior to the end of the calendar year. The Company also understands that no member of senior management has any present intention to materially change his overall equity interest in the Company.

About Argonaut Gold

Argonaut is a Canadian gold company engaged in exploration, mine development and production activities. Its primary assets are the production-stage El Castillo Mine in the State of Durango, Mexico, the La Colorada Mine in the State of Sonora, Mexico, the advanced exploration stage San Antonio project in Mexico, the recently acquired advanced exploration stage Magino project in Ontario, Toronto and several exploration stage projects, all of which are located in Mexico.

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Cautionary Note Regarding Forward-looking Statements

This news release contains forward-looking statements that involve risks and uncertainties that could cause results to differ materially from management's current expectations. Actual results may differ materially due to a number of factors. Except as required by law, Argonaut Gold Inc. assumes no obligation to update the forward-looking information contained in this news release.