Argonaut Gold Confirms Filing of Preliminary Economic Assessment for La Colorada

TORONTO, ONTARIO -- (Marketwire) -- 01/13/12 -- Argonaut Gold Inc. (TSX: AR) ('Argonaut Gold', 'Argonaut' or the 'Company') is pleased to confirm the filing today of its NI 43-101 compliant Preliminary Economic Assessment in relation to its La Colorada Property. For further information on the La Colorada Project please see the technical report entitled 'NI 43-101 Preliminary Economic Assessment on Resources at La Colorada Property Sonora, Mexico' dated December 30, 2011 and available on www.sedar.com and under the company's profile as well as the company's website, www.argonautgoldinc.com.

About Argonaut Gold

Argonaut is a Canadian gold company engaged in exploration, mine development and production activities. Its primary assets are the production-stage El Castillo Mine in the State of Durango, Mexico, the development stage and past producing La Colorada project, the advanced exploration San Antonio project, and several exploration stage projects, all of which are located in Mexico.

Cautionary Language Regarding Forward-Looking Information

This news release contains and refers to forward-looking information based on current expectations. All other statements other than statements of historical fact included in this release are forward-looking statements (or forward-looking information). The Company's plans involve various estimates and assumptions and its business and operations are subject to various risks and uncertainties. For more details on these estimates, assumptions, risks and uncertainties, see the Company's most recent Annual Information Form and most recent Management Discussion and Analysis on file with the Canadian securities regulatory authorities on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and there can be no assurance that such statements will prove to be accurate, such statements are subject to significant risks and uncertainties, and actual results and future events could differ materially from those anticipated in such statements. The Company assumes no obligation to update the forward-looking information contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements that are included herein.

Qualified Persons

Preparation of this press release was supervised by Mr. Thomas Burkhart, Argonaut's Vice President of Exploration and, a 'Qualified Person' as defined by NI 43-101.

Contacts:

Argonaut Gold Inc.

Nichole Cowles

Investor Relations Manager

(775) 284-4422 x 101
nichole.cowles@argonautgoldinc.com
www.argonautgoldinc.com