AGA

Argonaut Exploration Inc. (the "Company" or "Argonaut") (TSX VENTURE:AGA)
announces that the Company has entered into an option agreement (the
"Agreement") with an effective date of October 22, 2013 with an arm's length
party, to earn a 100% interest in certain mineral claims located in the Hidden
Valley area of British Columbia (the "Hidden Valley Property"). The Agreement is
a replacement for a previous agreement dated September 22nd, 2009 which expired
on September 22nd, 2013 that pertained to the Hidden Valley Property. The Hidden
Valley Property, when combined with additional claims currently held by
Argonaut, form the Company's "High Gold" property. The Agreement supersedes all
prior agreements between the parties. 


Pursuant to the terms of the Agreement, Argonaut can earn a 100% interest in the
Hidden Valley Property by paying the optionor the aggregate amount of $50,000
and issuing the optionor an aggregate of 500,000 common shares of the Company on
the dates and in the amounts as follows:




a.  $10,000 on the effective date of the Agreement (the "Effective Date");
b.  500,000 common shares on receipt of TSXV approval;
c.  a cash payment equal to $40,000 on or before the date of the first
    anniversary of the Effective Date.



At a deemed value of $0.05 per Argonaut common share, the value of the aggregate
common share consideration to be paid to the optionor is $25,000 over the one
year option period. Pursuant to the Agreement, the optionor will retain a 2% net
smelter return royalty (the "Royalty") on proceeds derived from the sale of
minerals produced from the 5 claims composing the Hidden Valley claims. Argonaut
may purchase and terminate the Royalty at any time upon paying to the optionor
an aggregate cash payment of $1,500,000. The $10,000 first payment was made to
the optionor by the Effective Date of the new agreement. The transaction is
subject to regulatory approval.


President Ray Cook states: "Argonaut has successfully re-negotiated a new Hidden
Valley option agreement that assists in the near term preservation of the
Company's capital and simultaneously maintains a valuable mineral property asset
during a difficult funding period for Junior Resource Companies." 


High Gold Property

The High Gold property consists of 24 contiguous claims encompassing 7,832
hectares located 60 kilometres northeast of Terrace and 45 kilometres
west-northwest of Smithers, British Columbia. Argonaut holds a 100% interest in
the High Gold property, with the exception of 5 included mineral claims
described in the above summarized option agreement with an expiry date of
October 22, 2014.


In 2010, Argonaut explored a porphyry system within the High Gold property with
nine exploration drill holes totaling 2,542 metres from five locations with the
deepest drill hole reaching 316 metres. Surface geophysical programs included 13
kilometres of deep penetrating induced polarization and magnetometer surveys.
Geological mapping and detailed rock sampling targeted the northern gold zone
and the central porphyry system with 171 metres of trenching including 51
trenched metres of copper-gold-molybdenum mineralized stockwork bedrock.
Historic drill core stored on the property was also sampled adding 1,220 metres
of core analyses from seven additional sites.


Results from Argonaut's High Gold exploration program are summarized in the
Company's news releases from 2010 to 2011 and indicate a
molybdenum-copper-gold-silver mineralized Bulkley-type porphyry system. The High
Gold porphyry system contains zones of elevated metals associated with a
distinct well-fractured stockwork zone. Geological mapping, geochemistry,
drilling and the "deep penetrating" I.P. survey indicate a large and deep
metal-bearing system located just 18 km from a major highway with power and rail
infrastructure.


The High Gold property borders two other properties with significant copper,
molybdenum, gold and silver porphyry systems known as the Louise Lake and Zymo
properties. The Louise Lake Property owned by Victory Mountain Ventures Ltd.
(formerly North American Gem Inc.) borders to the east and has a reported
mineral resource of 147 million tonnes containing 6 million indicated tonnes
grading 0.369% copper equivalent and 141 million inferred tonnes grading 0.425%
copper equivalent. Eastfield Group's Zymo Project borders to the southwest with
numerous copper-gold drill intersections, including hole ZY-08-09 that
intersected 253 metres grading 0.32% copper and 0.23 g/tonne gold including 72
metres grading 0.72% copper and 0.54 g/tonne gold.


Late Cretaceous calc-alkalic porphyries in British Columbia can have very large
mineralized systems with an enriched stockwork core. Significant regional
Stikinia terrane mineralized calc-alkalic porphyry systems include Imperial
Metals Inc.'s Huckleberry Mine, which has been in production since 1997 and
still contains an estimated ore reserve of 424,000,000 pounds of copper plus
gold and silver credits; Copper Fox Metal's Schaft Creek porphyry, which
contains a measured plus indicated resource of 1.23 billion tonnes grading 0.27%
copper, 0.017% molybdenum, 0.18 g/tonne gold and 1.7 g/tonne silver; and,
Thompson Creek Minerals Ltd.'s producing Endako Mine, which contains a measured
and indicated resource of 394.3 million tons grading 0.041% molybdenum. 


About Argonaut Exploration Inc. 

Argonaut is a junior mineral exploration company focused on the acquisition,
exploration and development of gold, silver and copper bearing mineral
properties. For more information on the Corporation visit its website at
www.argonautexploration.com. 


This news release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact, are
forward-looking information and such information involves various risks and
uncertainties. There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such information. A description of assumptions used to
develop such forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking information
can be found in the Company's disclosure documents on the SEDAR website at
www.sedar.com. The Company does not undertake to update any forward-looking
information except in accordance with applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Argonaut Exploration Inc.
Ray Cook
President and C.E.O.
(403) 969-7903
ray@argoexp.com
www.argonautexploration.com

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