TORONTO, June 1, 2020 /CNW/ - Argonaut Gold
Inc. (TSX: AR) (the "Company", "Argonaut Gold" or
"Argonaut") is pleased to announce that mining, crushing and
stacking activities have resumed at the El Castillo mine and San Agustin mine, which together form the El
Castillo Complex located in Durango,
Mexico, and the La Colorada
mine located in Sonora, Mexico.
Given that Argonaut operates heap leach mines, the Company has
maintained metal production and sales throughout the temporary
suspension of mining, crushing and stacking
activities.
Pete Dougherty, President &
CEO stated: "We will continue to implement strict protocols for all
employees in an effort to protect both our workforce and the
communities near our mines. Recognizing that mining operations are
deemed an essential business in Mexico, we have restarted full operations at
all of our mines."
Cautionary Note Regarding Forward-looking
Statements
This press release contains certain
"forward-looking statements" and "forward-looking information"
under applicable Canadian securities laws concerning the proposed
transaction and the business, operations and financial performance
and condition of Argonaut Gold Inc. ("Argonaut" or "Argonaut
Gold"). Forward-looking statements and forward-looking information
include, but are not limited to, statements with respect to the
COVID-19 pandemic, the impact of the pandemic on Argonaut and the
impact of government action aimed at ameliorating the pandemic on
the workforce, business and operations of Argonaut and on its
transaction with Alio Gold Inc.; statements with respect to
estimated production and mine life of the various mineral projects
of Argonaut; synergies and financial impact of completed
acquisitions; the benefits of the development potential of the
properties of Argonaut; the future price of gold, copper, and
silver; the estimation of mineral reserves and resources; the
realization of mineral reserve estimates; the timing and amount of
estimated future production; costs of production; success of
exploration activities; and currency exchange rate fluctuations.
Except for statements of historical fact relating to Argonaut,
certain information contained herein constitutes forward-looking
statements. Forward-looking statements are 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
of management at the date the statements are made, and are based on
a number of assumptions and subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. Many of these assumptions are based on
factors and events that are not within the control of Argonaut and
there is no assurance they will prove to be correct.
Factors that could cause actual results to vary materially from
results anticipated by such forward-looking statements include
changes in market conditions, the scope, duration and impact of the
COVID-19 pandemic, the scope, duration and impact of regulatory
responses to the pandemic on the employees, business and operations
of Argonaut and the broader market, variations in ore grade or
recovery rates, risks relating to international operations,
fluctuating metal prices and currency exchange rates, changes in
project parameters, the possibility of project cost overruns or
unanticipated costs and expenses, labour disputes and other risks
of the mining industry, failure of plant, equipment or processes to
operate as anticipated. Although Argonaut has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Argonaut undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions
should change except as required by applicable securities laws. The
reader is cautioned not to place undue reliance on forward-looking
statements. Statements concerning mineral reserve and resource
estimates may also be deemed to constitute forward-looking
statements to the extent they involve estimates of the
mineralization that will be encountered if the property is
developed. Comparative market information is as of a date prior to
the date of this document.
About Argonaut Gold
Argonaut Gold is a Canadian gold
company engaged in exploration, mine development and production.
Its primary assets are the El
Castillo mine and San
Agustin mine, which together form the El Castillo Complex in
Durango, Mexico and the
La Colorada mine in Sonora, Mexico. Advanced exploration projects
include the Cerro del Gallo project in Guanajuato, Mexico and the Magino project in
Ontario, Canada. The Company
continues to hold the San Antonio
advanced exploration project in Baja
California Sur, Mexico and several other exploration stage
projects, all of which are located in North America.
For more information,
contact:
Argonaut Gold Inc.
Dan
Symons
Vice President, Investor Relations
Phone: 416-915-3107
Email: dan.symons@argonautgold.com
SOURCE Argonaut Gold Inc.