Argonaut Acquires Cerro del Gallo Project in Mexico

Argonaut Gold has reached an agreement with Primero Mining Corp. to obtain the Cerro del Gallo (CDG) project through the purchase of all the shares of Primero’s subsidiary San Anton Resource Corp. for $15 million in cash, which is payable upon closing. Argonaut expects to be able to recover approximately $1.7 million of value-added tax, which reduces the total purchase price to $13.3 million. The company expects the transaction to close on or before November 30.

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