Argo Gold to sell Rockstar to Manitou Gold

Mar 21, 2018

2018-03-21 09:28 ET – News Release

Also News Release (C-MTU) Manitou Gold Inc

Ms. Judy Baker of Argo Gold reports

ARGO GOLD ENTERS INTO AGREEMENT TO SELL ROCKSTAR GOLD PROPERTY

Argo Gold Inc. has entered into an agreement with Manitou Gold Inc. pursuant to which Argo Gold has agreed to sell its 100-per-cent interest in 16 unpatented mining claims comprising its Rockstar gold property located in the Sault Ste. Marie mining division to Manitou. Pursuant to the terms of the agreement the company has agreed to sell the Rockstar property, in exchange for:

$200,000 payable to the company on the closing date;
Four million shares of Manitou Gold to be issued to Argo Gold on the closing date;
A 1-per-cent net smelter return royalty in favour of Argo Gold on the Rockstar property. Manitou can purchase 0.5 per cent of the royalty (so that the remaining royalty is equal to 0.5 per cent) from Argo Gold for the sum of $500,000.

Completion of the transaction will be subject to receipt of all necessary consents and regulatory approvals.

About Argo Gold Inc.

Argo Gold is listed on the Canadian Securities Exchange under the ticker ARQ. Argo Gold is focused on gold exploration projects located in central and Northwestern Ontario. All of Argo Gold’s projects are 100 per cent owned and have indications of economic viability.

We seek Safe Harbor.

http://www.argogold.ca/index.php/press-releases.html