AML Akwaaba Mining Ltd

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Argus Metals Corp. ("Argus" or the "Company") (TSX VENTURE:AML) announces its
intention to complete a non-brokered private placement of up to 20,000,000 units
of the Company (the "Units") at a price of $0.10 per Unit for gross proceeds of
up to $2,000,000. Each Unit will consist of one common share and one half common
share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder
to purchase one common share of the Company for a period of eighteen months from
the closing date at a price of $0.15 per common share.


The Company may pay finder's fees equal to 7.0% of subscription amounts found,
payable in cash or Units, plus issue finder's warrants in an amount equal to
7.0% of Units subscribed for, with each such finder's warrant exercisable into
one common share of the Company at a price of $0.10 for eighteen months from
closing. 


Closing of the Offering is anticipated to occur on or before February 29, 2012
and is subject to receipt of applicable regulatory approvals including approval
of the TSX Venture Exchange. Securities issued under the Offering will be
subject to a four month hold period which will expire four months from the date
of closing.


The proceeds from the Offering will be used to continue exploration on the
Company's Yukon and Guyana exploration projects and for general working capital
purposes.


For additional information please visit the Company's website at
www.argusmetalscorp.com. 


On behalf of the board of Directors,

Michael Collins, CEO and Director 

The Units have not been registered under the United States Securities Act of
1933, as amended (US Securities Act), and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements. This news release does not constitute an offer to sell or a
solicitation of an offer to buy such Units in any jurisdiction in which such an
offer or sale would be unlawful.


Certain statements in this press release may be considered forward-looking
information, including those relating to the "expectations", "intentions" or
"plans" of the Company, there is no guarantee the PP will close on the basis
announced, or at all. Such information involves known and unknown risks,
uncertainties and other factors -- including the approvals of regulators,
availability of funds, the results of financing and exploration activities, the
interpretation of drilling results and other geological data, project cost
overruns or unanticipated costs and expenses and other risks identified by the
Company in its public securities filings -- that may cause actual events to
differ materially from current expectations. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the
date of this press release. The Company disclaims any intention or obligation to
update or revise any forward-looking statements, except to the extent required
by law, whether as a result of new information, future events or otherwise.

Akwaaba Mining (TSXV:AML)
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Akwaaba Mining (TSXV:AML)
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