McVicar Lake Gold Property Lang Lake Greenstone Belt Ontario. Argo Gold Inc. (ARQ)

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1 McVicar Lake Gold Property Lang Lake Greenstone Belt Ontario Argo Gold Inc. (ARQ)

2 Forward Looking Statements This presentation may contain forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook for the Companys business and operational results. By nature, these risks and uncertainties could cause actual results to differ materially from what has been indicated. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to failure to establish estimated resources and reserves, the grade and recovery of ore which is mined from estimates, capital and operating costs varying significantly from estimates, delays or failure in obtaining governmental, environmental or other project approvals and other factors including those risks and uncertainties identified above. The Company has not yet completed the work necessary to verify the past exploration results since some of these results are historical in nature and some results predate National Instrument standards. In addition, a qualified person has not completed sufficient work to verify these historical results. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information as a result of new information, future results or other such factors that affect this information, except as required by law.

3 Location Map, McVicar Lake Property

4 Land Tenure, McVicar Lake Gold Property

5 Regional Gold Production Lang Lake Greenstone Belt Meen-Dempster Greenstone Belt UCHI GEOLOGICAL SUBPROVINCE

6 Regional Geology Lang Lake Greenstone Belt Simplified geological Map of the Lang Lake greenstone belt (modified after Magnus, 2014)

7 Mineral Occurrences Lang Lake Greenstone Belt Mineral occurrences and alteration types, Lang Lake GB (modified after Magnus,2014)

8 McVicar Lake Gold Property Local Geology and Mineral Deposits detailed geology after Magnus (2015)

9 detailed geology after Magnus (2015) Chellow Vein Area Geology

10 modified after Waldie (1993) Chellow Vein Area Trenches & DDH

11 modified after Waldie (1993) Chellow Vein Gold Prospect

12 Chellow Vein Trench 1 and 2 Assays Channel Samples (uncut) Trench 1 Channel Assays Sample Assay g/t Au oz/ton Au Average: g/t Au over 30 metre length, 1 m sample width (approximate) Trench 2 Channel Assay Sample Assay g/t Au oz/ton Au Average: g/t Au over 10 metre length, 1 m sample width (approximate)

13 DDH Section Chellow Vein 1993 modified after Waldie (1993)

14 Summary The McVicar Lake Property is underlain by metavolcanics and felsic intrusives of the Lang Lake Greenstone Belt. The Bear Head Lake Fault underlies the southwestern part of the property where a number of gold occurrences were discovered. Bear Head Fault Zone (BHFZ) consists of an anatomizing network of dextral shear zones that form a wide sigmoidal structure that transects all rock types; a similar sigmoidal structure is associated with the Golden Patricia Mine (past producer), 30 km to the southeast. On the property gold mineralization is associated with altered late tonalitetrondhjemite intrusions, in shear-hosted quartz veins, and in altered shear zones. Results from previous exploration indicate that the Chellow Vein contains significant gold values over a length of 125 metres and has a pinch and swell morphology ranging from 2 to 50 cm wide and averaging 20 cm. A series of 34 channel samples collected across the vein at intervals of 2 metres are reported to have averaged 28.8 g/t Au (uncut) over an approximate width of 1 metre (Assessment Report, Waldie 1993). Drilling of the Chellow Vein indicated that it continued to a depth of 125 m, gold values were anomalous, but not reflective of the high grades from surface sampling and vein width did not improve in width from the 20 cm average at surface.

15 Conclusions The Bear Head Fault Zone is a significant crustal scale structure that has localized gold mineralization in the McVicar Lake Property and extends southeast 30 km where it is closely associated with the Golden Patricia Mine (past producer). The Golden Patricia mine contained 0.87 million tonnes grading 19.9 g/t Au (0.58 oz/t Au, and is in a similar structural setting as the lower McVicar Lake area (Chellow Vein). The shear-hosted quartz vein deposit model would be applicable. Surface channel sampling of the Chellow Vein indicated high grade gold values in the western trenches resulting in weighted average grades (uncut) of g/t Au over 30 metre length (Trench 1), and g/t Au over 10 metre length (Trench 2). (an approximate 1 m sample width is estimated) Five drill holes intersected the Chellow Vein up to a depth of 150 m, and contained anomalous gold values; the vein is primarily shear-hosted and does not increase from the average width of 20 cm. The lack of gold mineralization in drill holes was considered to be likely due to the nugget effect commonly encountered in quartz vein hosted deposits (Waldie, 1993); thin wall BQ drill holes were used. There is excellent continuity of the Chellow Vein and structure along strike and downdip. Within the immediate area of the Chellow Vein are altered shear zones contain quartz with significant gold values on surface. The the pinch and swell nature of the quartz vein may indicate a plunging system.

16 Structural Model for the McVicar Lake Property Bear Head Fault Zone Sigmoidal Structures

17 Recommendations Complete a geological compilation of historical data; create a 3D model from the known drilling. Drill collars are noted as being left in-place. Locate and georeference historic exploration such as stripping, trenching, sampling, grid lines, DDH collars. Prospecting/stripping/trenching/sampling of identified mineralized areas; structural/geological mapping of mineralized shear zones. A structural geologist should be contracted to measure various structural features and determine any potential plunge component to the Chellow Vein. Establish a structural and geological model based on results of geophysics, geochemistry and geology in the area. Further work is recommended involving a series of larger bulk samples of the Chellow Vein to better assess the true grade of the vein material. Drilling program of selected target areas based on fieldwork and geological/structural interpretation. Short drill holes to test the high grade trenches and grade continuity. Option/Joint Venture to lower exploration costs. Build an exploration team with experience in remote access operations.

18 CONTACT INFORMATION Judy Baker (416) Bay Street, Suite 400 Toronto, Ontario M5H 2V1 T: F:

19 Knowledge Gaps There is a high contrast between the gold grades from surface channel samples on the Chellow Vein, and the drill hole intersections at metre depth. What is causing this contrast? The western most trenches on the Chellow Vein have high average gold grades, but the eastern trenches are more reflective of the drill results (anomalous gold values). What is the cause of the variation in gold content on surface? Is it the pinch and swell nature of the quartz vein system? A nugget effect? Selective channel sampling? Little information is provided on detailed geological and structural mapping of the various mineralizaed zones. Does the Chellow Vein reflect the dextral movement found at the regional scale? Drill hole logs and cross sections indicate the presence of other shear zones. How continuous is the shear zone hosting the Chellow Vein? Are there any significant changes in rock competency where the Chellow Vein occurs? Gold mineralization is associated with an altered and sheared zone (AGM Zone) containing apple green mica (fuchsite) that appears to extend across lower McVicar Lake. How wide is this mineralized altered shear zone? Can this altered zone be identified geophysically? Is lake sediment sampling warranted on lower McVicar Lake? How is the Chellow Vein affected when the vein crosses from gabbro into a raft of metasediments with banded iron formation (Magnus, 2015)? OGS detailed mapping of the Chellow Vein area indicates that the Chellow vein is immediately south of a shear zone at the gabbro-felsic intrusive contact (Magnus, 2015). Does this shear zone incorporate the mineralized altered zone containing fuchsite (the AGM Zone)?