Argyle Resources Corp Secures New Facility to Enhance Silica Exploration Operations

Calgary, August 30, 2024 - Argyle Resources Corp. (CSE: ARGL) (OTC Pink: ARLYF) (FSE: ME0) ("Argyle" or the "Company") is pleased to announce the rental of a strategically located pilot processing facility in St-Lambert-de-Lauzon which is in close proximity to its silica exploration properties in Quebec and also in close proximity to the Institut National de la Recherche Scientifique ("INRS") campus near Quebec City. The Company has started assembly of a pilot processing facility and laboratory. This rented facility in St-Lambert-de-Lauzon will serve as a crucial hub for the company's silica outcrop samples processing operations and potentially contribute to Quebec's strategic battery material supply chain.

The facility will house a fully mobile series of trailer-mounted crushing, grinding, and sorting equipment. This advanced setup allows for easy assembly, disassembly, and transportation, making it an ideal solution for Argyle's exploration and processing needs. The goal for this equipment is to process grab samples and an eventual bulk sample from quartzite silica outcrops that have been previously identified within Argyle's three 100% owned quartzite silica exploration properties in Quebec.

As part of the 2024 field season, which is being conducted in collaboration with the INRS, the goal is to extract 200 kg bulk samples of quartzite silica outcrops from each of the three properties. These samples will then undergo processing of crushing, grinding and pulverizing quartzite samples to produce high-grade metallurgical silica. The resulting product will be analyzed to determine its suitability for various industrial and high technology applications such as solar panel manufacturing, semiconductor chip manufacturing for artificial intelligence applications and EV battery manufacturing, which will be completed at the INRS Campus laboratories near Quebec City.

"We are excited to announce this new pilot processing facility, which represents a significant step forward in our exploration and processing capabilities," said Jeff Stevens, CEO of Argyle Resources Corp. "Having a dedicated space for crushing equipment will streamline our operations and enhance our ability to efficiently process and analyze our silica samples."

Figure 1: St-Lambert-de-Lauzon pilot plant facility

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Figure 2: Mobile crusher equipment for use in pilot plant facility

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This new infrastructure will allow Argyle to optimize processing and increase the efficiency of its silica operations by having the ability to extract grab samples which are then easily, and cost efficiently transported by INRS technicians to the proximal pilot plant facility for processing.

The strategically located facility will serve as a hub for testing, innovation and potential for supporting the development of high-quality silica products crucial for next-generation battery technologies and for other high technology silica applications such as photovoltaic solar panel manufacturing and semi-conductor chip manufacturing for artificial intelligence uses.

The mobile pilot plant will further the Company's capabilities by enabling real-time testing and optimization of its silica solutions directly at the point of need. This flexibility will not only enhance processing efficiency but also has potential to provide tailored solutions to meet the evolving demands of the battery material sector within Quebec.

Set for completion in 2026, a $7 billion battery manufacturing facility is being constructed on Montreal's South Shore in Saint-Basile-le-Grand, Quebec by Northvolt AB, a Swedish battery developer and manufacturer, specialising in lithium-ion technology for electric vehicles. Quebec's provincial government pledged $2.9 billion in financing to secure the deal with Northvolt. The Canadian federal government has committed up to $1.34 billion to build the plant and another $3 billion worth of other incentives. Once completed, it is expected to have an output of 56,000 tonnes of batteries per year.

"Quebec's strategic focus on expanding its electric vehicle battery supply chain aligns well with Argyle's growth strategy," commented Jeff Stevens, CEO of Argyle. "By integrating our enhanced silica operations into this dynamic ecosystem, we are committed to supporting the region's role as player in the global battery market while advancing our own sustainable material solutions."

The rental of this facility is a key component of Argyle Resources Corp's strategy to enhance its exploration activities and expand its operations in Quebec.

Marc Richer-Lafleche P.GEO., as a consultant to the Company and a Qualified Person, as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information reported in this news release.

ON BEHALF OF THE BOARD OF DIRECTORS

'Jeffrey Stevens'
President & CEO

About Argyle Resources Corp.

Argyle Resources Corp. is a junior mineral exploration company engaged in the business of acquiring, exploring, staking and evaluating natural resource properties in North America. The Company currently holds an option to acquire up to 100% of the Frenchvale Graphite Property located in Nova Scotia, Canada and owns 100% interest in the Pilgrim Islands, Matapedia and Lac Comporte quartzite silica projects in Quebec, Canada. Argyle is engaged in a research partnership with the INRS, a high-level research and training institute funded by the Quebec government to conduct exploration programs on the Company's silica projects. The Company was incorporated in 2023 and its head office is located in Calgary, Alberta, Canada.

www.argyleresourcescorp.com

Forward-Looking Statements

This news release contains forward-looking statements and other statements that are not historical facts. Forward-Looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. Such statements in this news release include, but are not limited to, the statements with respect to future processing at the pilot facility and laboratory, goals for extraction of bulk samples for processing, the suitability of sample product for industrial and technology applications, increased efficiency of processing, potential for development of high-quality silica products for next generation battery technologies and other high technology applications, real-time testing and optimization of silica solutions, potential for tailored solutions in the battery material market, the completion of a $7 billion battery manufacturing facility and its expected output and the Quebec and federal governments' financing of same, the Company's planned exploration program; the execution of such exploration program in collaboration with INRS; and the initiation of work programs generally. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to vary from forward-looking statements or may affect the operations, performance, development and results of the Company's business include, among other things that mineral exploration is inherently uncertain and may be unsuccessful in achieving the desired results; that mineral exploration plans may change and be re-defined based on a number of factors, many of which are outside of the Company's control. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-Looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

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