Argonaut Exploration Inc. Samples Untested Gold from Surface Rock Samples to 65.9 Grams / Tonne at Terrace, B.C.

CALGARY, ALBERTA--(Marketwired - Aug. 29, 2014) - Argonaut Exploration Inc. (TSX VENTURE:AGA) ("Argonaut" or "the Company") releases 2014 sample results. Argonaut Exploration Inc. investigates untested gold mineralization at surface on the Company's Columario Gold Mine property. Several samples were collected by company personnel in late summer, 2014 from different locations including sulphide-bearing quartz vein sub-outcrop samples from the historic Valhalla vein, loose sulphide-bearing quartz vein talus from the upper mine road fill and a 17.4 kilogram bulk soil sample collected from an upper mine road cross-trench with approximate dimensions 3.66 meters (m) long by 12.7 centimeters (cm) wide by 7.6 cm deep. The results are presented in Tables 1 and 2.

Argonaut has commenced testing through sample analysis the hypothesis that mined and unprocessed mineralized quartz vein muck was deposited in front of the tunnel portals during the mine tunnel development period from 1927 to 1933. This period of development was prior to the building of the mine's 100 ton per day flotation mill in 1934 (British Columbia ARIS Assessment report 17551).

Based on the sample results and with further verification, it is increasingly apparent that Argonaut's upper mine road switchbacks that access five mine tunnels may potentially be located on a mixture of talus and non-transported ore muck.

TABLE 1: 2014 COLUMARIO MINE ROAD SAMPLES

Sample Number	Sample Type	Location	Vein	Elevation (m)	Width (m)	Gold (g/t)	Silver (g/t)
Val07-14	Sub-outcrop	Valhalla tunnel Haulage mine road	1	562	grab	65.9	16.5
Ad107-14	Talus quartz float aggregate	Adit 1 Haulage mine road	-	564	grab	39.5	112.0

TABLE 2: 2014 COLUMARIO MINE ROAD - TRENCH BULK SOIL SAMPLE R1