Argonaut Gold Inc. and Pediment Gold Corp. Complete Business Combination

Argonaut Gold Inc. (TSX:AR) ("Argonaut" or the "Company") and Pediment Gold
Corp. (TSX:PEZ)(OTCBB:PEZGF) ("Pediment") are pleased to announce the completion
of their previously announced plan of arrangement (the "Arrangement").


Pursuant to the Arrangement, Argonaut has acquired all of the issued and
outstanding common shares of Pediment ("Pediment Shares") in a transaction
valued at approximately $137 million. In accordance with the Arrangement, former
Pediment shareholders are entitled to receive 0.625 of a common share of
Argonaut ("Argonaut Shares") for each Pediment Share. Outstanding options to
acquire Pediment Shares have been converted into options to acquire Argonaut
Shares, adjusted in accordance with the same ratio. The Pediment common shares
are expected to be delisted from the TSX on or about February 1, 2011. The
Argonaut Shares issued under Arrangement will be listed on the TSX the same day
that the Pediment Shares are de-listed from the TSX. The Pediment Shares will
also be removed from quotation on the OTCBB. We anticipate the share
certificates representing the Argonaut Shares issued pursuant to the Arrangement
will be sent to the former Pediment shareholders place shortly after the
de-listing, for more information regarding the new Argonaut share certificates
please refer to Computershare Investor Services Inc. at Toll Free:
1.800.564.6253 (North America); Telephone: 1.514.982.7555 (Overseas); E-Mail:
corporateactions@computershare.com.


As part of the Arrangement, Peter Mourdant will be appointed to the board of
directors of Argonaut.


Mr. Dougherty President and CEO of Argonaut stated "We are pleased to have
completed the amalgamation of Pediment into the Argonaut family. This marks an
important step in our goals of creating the next immerging mid-tier gold
producer. We appreciate the continued support of our shareholders, and welcome
our new shareholders formerly of Pediment."


About Argonaut Gold Inc.

Argonaut is a gold company engaged in exploration, mine development and
production activities. Its primary assets are the producing El Castillo Mine,
early stage development project San Antonio and two advance stage exploration
projects La Colorada and La Fortuna all located in Northern Mexico. For further
information about Argonaut, including summary technical information, please see
the Annual Information Form of Argonaut dated March 31, 2010 in relation to the
year ended December 31, 2009 and our web site at www.argonaugoldinc.com.


Cautionary Note Regarding Forward-looking Statements

This news release contains forward looking statements of Argonaut and Pediment,
within the meaning of the U.S. Private Securities Litigation Reform Act of 1995
and within the meaning of applicable Canadian provincial securities legislation.
Forward-looking statements are statements which are not historical facts. There
can be no assurance that such statements will prove accurate. Such statements
are necessarily based upon a number of assumptions that are subject to numerous
risks and uncertainties that could cause actual results and future events to
differ materially from those anticipated or projected. Important factors that
could cause actual results to differ materially from Argonaut's or Pediment's
expectation are in the documents filed by Argonaut and Pediment, respectively,
from time to time with the Toronto Stock Exchange and provincial securities
regulators, most of which are available at www.sedar.com. Other than as required
by applicable securities legislation, Argonaut and Pediment disclaim any
intention and assumes no obligation to revise or update any forward-looking
statement even if new information becomes available, as a result of future
events or for any other reason.

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