Toronto, Ontario – (February 25, 2021) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce its financial and operating results for the fourth quarter and year ended December 31, 2020. For the fourth quarter 2020, the Company reports record quarterly revenue of $100.8 million, adjusted net income1 of $20.8 million or adjusted earnings per basic share1 of $0.07 and net income of $18.0 million or earnings per basic share of $0.06, derived from the sale of 53,478 gold equivalent ounces2 (“GEO” or “GEOs”), which generated record quarterly cash flow before changes in working capital of $39.5 million. For the full year 2020, the Company reports record annual revenue of $319.7 million, adjusted net income1 of $48.3 million or adjusted earnings per basic share1 of $0.21 and net income of $14.2 million or earnings per basic share of $0.06, derived from the sale of 179,169 GEOs, which generated record annual cash flow from operations before working capital changes of $95.0 million. All dollar amounts are expressed in United States dollars unless otherwise specified.
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