Argent Minerals Limited (ASX: ARD, Argent, or the Company) is pleased to provide an exploration and drilling program update.

EXPLORATON PROGRAMS AND OPERATIONS UPDATE

Kempfield RC Drilling Program

Kempfield Stage 1 RC drilling program was affected by rain allowing only 5 days of drilling in the past 6 weeks. To date 1,725 meters have been drilled over the current 3,500-metre drilling program and favourable weather conditions are forecast in September and October that will assist our safety management plan and improved ground conditions.

The Company is expected to receive assay results for the first 400 samples in the next two or three weeks and a further 1,300 sample results in late October. Interstate transport and laboratory availability to process samples has been affected by COVID-19 related delays.

The Company will report assay results with faster turnaround from October onwards and the laboratory in Orange has commenced sample preparation on the second batch of samples.

Managing Director and CEO George Karageorge said: 'Whilst the program has been frustrated by rain since early June, it is expected that good progress will be made in late October with a larger drill rig arriving at Kempfield that will allow us to drill deeper holes. 3 to 5 existing drill holes were drilled short due to the use of a smaller rig and the larger rig will allow us to define deeper mineralization'

'We will also improve our assay results turnaround time by using a local assay laboratory who have assured pre-COVID-19 availability'

Outstanding results from Kempfield rock chip sampling program

The Company has been conducting surface rock chip sampling outside the Kempfield resource area since March 2020. Rock chip sampling continued in July and September and to date over 32 samples have been taken containing gold, silver, copper, lead, zinc and barite assay results. The rock chip program will define anomalous extensions to the Kempfield resource with reconnaissance and target drilling programs.

The rock chip sampling programs have targeted the gold-copper footwall areas, barite test pits, historic barite production quarries and old gold, silver and copper prospects to the south and north of the existing Kempfield resource area. The rock chip sampling will continue until December running alongside the drilling programs at Kempfield and Pine Ridge. The surface and historic sample locations that have been sampled to date with available assay results have been listed below.

Contact:

George Karageorge

Tel: 0419 944 484

Email: george.karageorge@argentminerals.com.au

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