TORONTO, April 23, 2020 /CNW/ - Argonaut Gold Inc.
(TSX: AR) (the "Company", "Argonaut Gold" or "Argonaut")
announces that the Mexican federal government has extended the
closure of all non-essential businesses until May 30, 2020 with the exception of businesses
operating in municipalities with low or no cases of COVID-19
transmission, which may re-open on May 18,
2020. Therefore, Argonaut is preparing to re-open full
operations on May 18, 2020.
As the Company operates heap leach mines, processing of leach
solution and metal production and sales have continued since the
original government decree to cease non-essential businesses on
March 31, 2020. On May 18, 2020, mining, crushing and stacking
operations are expected to restart, and the Company expects it will
take approximately one week to fully ramp up to normal run
rates.
The Mexican federal government has created strict hygiene and
health protocols to protect personnel, which Argonaut has and will
continue to follow. Argonaut has also developed and
implemented additional protocols for the protection of its
workforce and communities where it operates. To date, there
are no known cases of COVID-19 infection at any of the Company's
operations, projects or corporate offices.
Pete Dougherty, President &
CEO stated: "It is important to recognize the seriousness of the
COVID-19 pandemic and while we have not experienced a known case in
the Company to date, we have been and will continue to take
precautionary measures as we begin restarting full
operations. The health and safety of our workforce, their
families and the communities in which we operate is paramount and
we continue to be dedicated to maintaining a safe work
environment."
Cautionary Note Regarding Forward-looking
Statements
This press release contains certain
"forward-looking statements" and "forward-looking information"
under applicable Canadian securities laws concerning the proposed
transaction and the business, operations and financial performance
and condition of Argonaut Gold Inc. ("Argonaut" or "Argonaut
Gold"). Forward-looking statements and forward-looking
information include, but are not limited to, statements with
respect to the COVID-19 pandemic, the impact of the pandemic on
Argonaut and the impact of government action aimed at ameliorating
the pandemic on the workforce, business and operations of Argonaut
and on its transaction with Alio Gold Inc.; statements with respect
to estimated production and mine life of the various mineral
projects of Argonaut; synergies and financial impact of completed
acquisitions; the benefits of the development potential of the
properties of Argonaut; the future price of gold, copper, and
silver; the estimation of mineral reserves and resources; the
realization of mineral reserve estimates; the timing and amount of
estimated future production; costs of production; success of
exploration activities; and currency exchange rate fluctuations.
Except for statements of historical fact relating to
Argonaut, certain information contained herein constitutes
forward-looking statements. Forward-looking statements are
frequently characterized by words such as "plan," "expect,"
"project," "intend," "believe," "anticipate", "estimate" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. Forward-looking statements are based
on the opinions and estimates of management at the date the
statements are made, and are based on a number of assumptions and
subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ materially from
those projected in the forward-looking statements. Many of
these assumptions are based on factors and events that are not
within the control of Argonaut and there is no assurance they will
prove to be correct.
Factors that could cause actual results to vary materially from
results anticipated by such forward-looking statements include
changes in market conditions, the scope, duration and impact of the
COVID-19 pandemic, the scope, duration and impact of regulatory
responses to the pandemic on the employees, business and operations
of Argonaut and the broader market, variations in ore grade or
recovery rates, risks relating to international operations,
fluctuating metal prices and currency exchange rates, changes in
project parameters, the possibility of project cost overruns or
unanticipated costs and expenses, labour disputes and other risks
of the mining industry, failure of plant, equipment or processes to
operate as anticipated. Although Argonaut has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be anticipated, estimated or
intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Argonaut undertakes no obligation to update
forward-looking statements if circumstances or management's
estimates or opinions should change except as required by
applicable securities laws. The reader is cautioned not to
place undue reliance on forward-looking statements. Statements
concerning mineral reserve and resource estimates may also be
deemed to constitute forward-looking statements to the extent they
involve estimates of the mineralization that will be encountered if
the property is developed. Comparative market information is
as of a date prior to the date of this document.
About Argonaut Gold
Argonaut Gold is a Canadian gold company engaged in exploration,
mine development and production. Its primary assets are the
El Castillo mine and San Agustin mine, which together form the El
Castillo Complex in Durango,
Mexico and the La Colorada
mine in Sonora, Mexico.
Advanced exploration projects include the San Antonio project in Baja California Sur, Mexico, the Cerro del
Gallo project in Guanajuato,
Mexico and the Magino project in Ontario, Canada. The Company also has
several exploration stage projects, all of which are located in
North America.
For more information,
contact:
Argonaut Gold Inc.
Dan
Symons
Vice President, Investor Relations
Phone: 416-915-3107
Email: dan.symons@argonautgold.com
Source: Argonaut Gold Inc.
SOURCE Argonaut Gold Inc.