Mishi Lake Gold Property

Mishibishu Lake Area, Wawa, Ontario

Argo Gold Inc. (ARQ)

Forward Looking StatementsThis presentation may contain forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook for the Company’s business and operational results. By nature, these risks and uncertainties could cause actual results to differ materially from what has been indicated. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to failure to establish estimated resources and reserves, the grade and recovery of ore which is mined from estimates, capital and operating costs varying significantly from estimates, delays or failure in obtaining governmental, environmental or other project approvals and other factors including those risks and uncertainties identified above. The Company has not yet completed the work necessary to verify the past exploration results since some of these results are historical in nature and some results predate National Instrument 43-101 standards. In addition, a qualified person has not completed sufficient work to verify these historical results. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information as a result of new information, future results or other such factors that affect this information, except as required by law.

Location Map, Argo Gold Properties

Land TenureMishi Lake Gold Property

Argo Gold Inc.

Regional GeologyMichipicoten Greenstone Belt

Iron Lake Grenstone BeltMishibishu Lake Greenstone Belt

MISHI LAKEAu Project

SOUTH WAWAAu Project

Mishi Lake Area, Local Geology

MishibishuDeformation

Zone (MDZ)

Detailed Geology, Mishi North Gold Occurrence

Photo 1: Quartz Vein is Z-folded on centimetre scale

Photo 2: Quartz-sericite-ankerite+/-green mica+/- pyrite

Photo 3: Boudinaged and Z-folded Quartz vein on the metre scale

Mishi North Gold Occurrence

Photos: from Tremblay 2010

Mishi East Claims MMI Soil Geochemical Survey

MDZ

Summary and Conclusions • The main area of interest are the claims immediately east of the Wesdome Lease.

These claims are underlain by the east-central portion of the Mishibishu Deformation Zone which is estimated by the Ontario Geological Survey to be approximately 1.5 km in width through the Mishi Lake Property.

• Mishi North Gold Occurrence is located on the ESE trend of several gold prospects, including the Discovery, Hollinger, Amichi, and Northwest. All these gold prospects are characterized by quartz veins within highly deformed and altered metavolcanicand metasedimentary rocks near the metavolcanic-metasedimentary contact.

• The Mishibishu Lake Stock is a high-level, late-to post tectonic intrusive body of quartz monzonite to monzonite composition which intrudes the southern part of the Mishi Lake Property. Intrusive quartz-feldspar and feldspar porphyry dikes related to the Mishibishu Lake Stock are common in the vicinity of several of the gold occurrences within the MDZ, including the Mishi Lake Property

• The Discovery Prospect is located NW of the Mishi North Gold Occurrence and consists of a similar NW trending quartz vein enclosed by an alteration envelope; grab samples by the Ontario Geological Survey ranged from 13 to 82 g/t Au.

• Two of the soil samples from the eastern Argo claims have the highest gold response ratios from a 2012 MMI survey completed by Kritinor Metals Inc: 164 and 28 Au Response Ratio (samples 115626 and 115632).

Recommendations• Complete a geological compilation of historical data. Locate and georeference

historic exploration such as stripping, trenching, sampling, grid lines, DDH collars.

• Prospecting/stripping/trenching/sampling of Mishi Lake claims; grab samples should be taken at regular intervals throughout the altered zone of the Mishi North Gold Occurrence.

• Structural/geological mapping of the Mishi North Gold Occurrence; reconnaissance scale mapping to verify the OGS Mapping.

• Channel sampling across the main NW trending quartz vein, including the adjacent altered wall rock. Channel samples along the strike of the quartz vein to determine grade continuity. Channel sampling of deformed quartz veins and wallrock.

• Geochemical orientation survey for soil sampling (i.e. partial extraction and regular analysis) across the strike extension of the NW vein at closely spaced intervals (i.e. 5 m) and across the SE extension of the outcrop area.

• Geochemical soil sampling program of the main shear/alteration corridor using best result from the orientation surveys (if the method is determined to be viable as a gold indicator).

• Establish a structural and geological model based on results of geophysics, geochemistry and geology in the area.

CONTACT INFORMATIONJudy Baker (416) 786-7860 judybakertoronto@gmail.com

365 Bay Street, Suite 400Toronto, Ontario M5H 2V1

T: 416 786 7860F: 416 361 2519

www.argogold.com

Knowledge Gaps• How much of the gold exploration potential on the Mishi Lake Property is

limited because the metavolcanic-metasedimentaty contact extends south of the shore line of Mishi Lake?

• How significant is the presence of quartz-feldspar dikes and the monzonitestock on the location of gold occurrences? Has the late period of quartz vein development affected the Mishibishu Lake Stock or related dikes and sills?

• Is the paucity of drill holes and trenching east of the Wesdome Lease due to a lack of mineral exploration or is there some geological reason?

• Does the lack of major, continuous vein systems limit the economic viability of the MDZ to low grade, high tonnage deposits (i.e. Mishi Deposit)?

• Are there any felsic or mafic intrusions within the tectono-stratigraphicpackage that may provide a ductility contrast which could have resulted in brittle fracture and provided a plumbing system for gold-bearing hydrothermal fluids?