AR Argonaut Gold Inc

Argonaut Gold Inc. (the "Offeror"), a wholly-owned subsidiary of Argonaut Gold
Ltd. (TSX:AR), is pleased to announce that it has completed the compulsory
acquisition process under the Canada Business Corporations Act (the "Act") and
has acquired the remaining issued and outstanding common shares of Castle Gold
Corporation ("Castle") (TSX VENTURE:CSG) not acquired pursuant to the Offeror's
take-over bid dated November 23, 2009 to acquire all of the issued and
outstanding common shares Castle (the "Offer").


As a result of the compulsory acquisition, Castle is now a wholly owned
subsidiary of the Offeror and Castle shareholders, other than those who exercise
dissent rights, are entitled to receive $1.29 for each Castle share formerly
held by them. To effect the compulsory acquisition, the Offeror has mailed a
Notice of Compulsory Acquisition ("Notice") to each of Castle's registered
shareholders and has deposited with Computershare Trust Company of Canada
("Computershare"), as agent for Castle, the total consideration payable for the
Castle share acquired under the compulsory acquisition. Computershare will hold
such funds in trust for Castle's former shareholders and pay the acquisition
price to them upon deposit of the certificates representing the Castle common
shares formerly held by them. Deposits of the certificates representing Castle
common shares can be effected by using the Letter of Transmittal that has been
mailed to Castle's registered shareholders along with the Notice.


Castle has applied to have its common shares delisted from the TSX Venture
Exchange. Trading of Castle common shares has been halted and the common shares
will be delisted from the TSX Venture Exchange as of the close of market on
February 23, 2010. In addition, Castle intends to apply to the relevant
provincial securities regulators to cease to be a reporting issuer.


Cautionary Note Regarding Forward-looking Statements

This news release contains forward-looking statements that involve risks and
uncertainties that could cause results to differ materially from management's
current expectations. Actual results may differ materially due to a number of
factors. Except as required by law, Argonaut Gold Inc. assumes no obligation to
update the forward-looking information contained in this news release.

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