Magna Gold Corp (fka MGLQF)

[Lowjack]

This is how Argonaut sees it.

5. Recievables

(1) On May 6, 2021, the Company entered into an agreement to settle a significant portion of the balance of receivables from
acquisition for total proceeds of $7,675. Upon settlement, the Company recognized a gain on settlement of receivables from
acquisition of $1,751 over the book value of components comprising the receivables from acquisition (note 14). The
Company received $5,000 in cash on the date of settlement and a short-term promissory note in the amount of $2,675 to be
paid in four equal installment payments from July to October 2021. The unsecured short-term promissory note includes an
interest rate of 5.0% per annum. At June 30, 2021, the Company had accrued $22 in accrued interest receivable on the
promissory note.

https://s22.q4cdn.com/115151820/files/doc_financials/2021/q2/Argonaut-Gold,-Inc.-FS-Q2-2021-FINAL.pdf