Argonaut Gold Provides Commissioning Update
at its Magino Mine in Northern Ontario
TORONTO, Ontario - (June 1, 2023) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut
Gold” or “Argonaut”) is pleased to announce that wet commissioning activities at its Magino Mine
(“Magino”) are well underway, with the introduction of ore into the crushing circuit on May 13th and
ore into the grinding circuit on May 19th. The Company is now guiding towards a first gold pour by
mid-June as it works closely with Ausenco Engineering Canada Inc., its engineering,
procurement, and construction manager, to proactively and systematically progress through the
anticipated challenges that are common during the commissioning phase.
“The initial 48-hour run of the mills was completed on May 30th, and the requisite re-torquing of
the grinding mills, mechanical inspections and some minor repairs and modifications have begun.
Milling is scheduled to resume on June 4th. Initial results during commissioning indicate that
throughput targets in the crushing and grinding circuits should be easily achieved, and the team
is now working on achieving design availabilities as we work through instrumentation, electrical,
and communications issues that are common in the startup of a process plant of this size.
Furthermore, the tailings commissioning is complete, and all operating permits have been
received to operate the plant and tailings management facilities. Overall, the ramp up
to commercial production remains on schedule and is expected in the third quarter,” stated
Chuck Hennessy, Vice President, Canadian Operations.