Argonaut Gold Announces Q3 Production of 32,122 Gold Equivalent Ounces

Toronto, Ontario – (October 15, 2014) Argonaut Gold Inc. (“Argonaut”, “Argonaut Gold” or the “Company”; TSX: AR), announced today that the Company produced 32,122 gold equivalent ounces (“GEOs” or “GEO”) during the third quarter (“Q3”) ended September 30, 2014. This included 22,980 GEOs at its 100% owned El Castillo Mine (“El Castillo”) located in Durango, Mexico and 9,142 GEOs at its 100% owned La Colorada Mine (“La Colorada”) located near Hermosillo, Mexico. Additionally, the Company reported record GEOs loaded to the pads in Q3, which will be reflected in the fourth quarter (“Q4”) production numbers.

1 GEOs are based on conversion ratio of 55:1 for silver to gold and is the referenced ratio throughout this release.
2 Recoverable ounces – see tables titled Third Quarter 2014 El Castillo Operating Statistics and Third Quarter 2014 La Colorada Operating Statistics.