PDG Prodigy Gold Inc.

Argonaut Gold Inc. ("Argonaut") (TSX:AR) and Prodigy Gold Inc. ("Prodigy") (TSX
VENTURE:PDG) 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 Prodigy ("Prodigy Shares") in a transaction valued
at approximately $341 million. In accordance with the Arrangement, former
Prodigy shareholders are entitled to receive 0.1042 of a common share of
Argonaut ("Argonaut Shares") and $0.0001 in cash per Prodigy Share. Outstanding
options to acquire Prodigy Shares have been converted into options to acquire
Argonaut Shares, adjusted in accordance with the same ratio. The Prodigy Shares
will be de-listed from the TSX Venture Exchange as of the date hereof. We
anticipate the share certificates representing the Argonaut Shares issued
pursuant to the Arrangement will be sent to the former Prodigy shareholders
shortly after the de-listing. 


Forward-Looking Statements 

This press release contains certain "forward-looking statements" and
"forward-looking information" under applicable Canadian securities laws
concerning the proposed plan of arrangement (the "Arrangement") between Argonaut
and Prodigy. 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. 


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 and Prodigy undertake 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Investor Relations Contact:
Argonaut Gold Inc.
Nichole Cowles, Investor Relations Manager
(775) 284-4422 x 101
nichole.cowles@argonautgold.com
www.argonautgold.com

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