or economic viability

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1 CSE: ARQ ARBTF or economic viability Developing High-Grade Gold Projects in Ontario February 2017 September 2018 CSE: 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 Company s 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 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. 2

3 All-Star Technical Team Delio Tortosa Over 30 years of experience in the mining and mineral exploration industry as an industry consultant, and in government as the Resident Geologist for the Wawa District, and in academia teaching GPS, GIS, and Remote Sensing. Bill Kerr Geologist with over 40 years in the exploration and mining industry and was directly involved with multiple uranium discoveries in the Basin. He has spent many years in Ontario, and was exploration manager for Dome Mines for the Red Lake and Timmins offices where he was involved, in varying degrees, with discovery and delineation of economically mineable gold deposits at Dona Lake, Detour Lake & Musselwhite. Dr. Jay Hodgson Research Exploration Geologist with over 40 years of global experience in base metal and precious metal exploration. From 1972 to 1995, Dr. Hodgson was Professor of Economic Geology at Queen s University. From 1996 to 2006, Dr. Hodgson was Chief Geologist at Barrick Gold Corp. where he designed their worldwide exploration programs including several world-class gold deposits. Bill Nielsen Director 43 years of experience in mineral exploration and mine development. Mr. Nielsen is the past President and CEO of Kombat Copper and past VP Exploration for Crocodile Gold and Nevsun Resources. Phillip Walford Advisory Board President and CEO of Marathon Gold and founder of Marathon PGM. Mr. Walford has held senior positions at Pamour Porcupine Mines Ltd., LacMinerals Ltd. Geomaque Explorations Ltd., and Hudson Bay Exploration and Development and has extensive international experience in gold and base metal deposits. 3

4 The Rice Lake Pickle Lake Gold Belt Argo Gold s NW Ontario Gold Projects - Woco, Angela Lake, McVicar Lake 4

5 Woco Gold Project Drill Intercepts Flagship Asset 100% owned 4 Claim Blocks at the south end of the Birch Uchi Greenstone Belt Rich Woco Vein drill intercepts 65 g/t gold over 3.6 m 63 g/t gold over 1.8 m 22 g/t gold over 1.6 m 13 g/t gold over 1 m 15 g/t gold over 2.3 m 14 g/t gold over 1.4 m 63 g/t gold over 1.8 m Down-Plunge & Strike Extensions 140 g/t gold over 2.1 m 43 g/t gold over 1.7 m 5

6 Woco Gold Project continued Woco Gold Project is high-grade gold mineralization discovered in kilometres East of Red Lake Woco gold mineralization at the contact of felsic and mafic volcanics extending over a distance of 100 m along strike and drilled to 150 m depth Parallel structure and 300 metres west of known gold mineralization on the past-producing Uchi Break Economic gold grades over mineable widths indicated by historic drilling Potential for narrow vein high grade production 6

7 Located at the north end of Birch Uchi Greenstone Belt Angela Lake Gold Project Boulders discovered in the 1970 s with visible gold up to 0.5 cm wide in quartz veinlets in metasedimentary host rocks Follow-up drilling in 1980 s encountered only 3.7 g/t over 0.3 metres Structure may have been misinterpreted due to lack of outcrop Follow-up field work planned to better define the structure, geology and mineralization 7

8 McVicar Lake Gold Project The Chellow Vein outcrop at the McVicar Lake Gold Project averages 28 g/t gold over a 70 metre strike length on 2 metre channel sampling intervals Located 30 km NW of the pastproducing Golden Patricia Mine (600, grams per tonne gold) Bear Head Fault Zone cuts the SW margin of the 25 square kilometer project area of folded volcanic rocks and area porphyries Mineralization includes lode gold, epithermal and porphyry Mineral occurrences and alteration types, Lang Lake GB (modified after Magnus, 2014) 8

9 On Trend with Operating Mines in the Wawa Greenstone Belts Argo Gold s Macassa Creek, Abbie Lake and Mishi Lakle Gold Projects 9

10 Fortune Lake, Rex Lake, Campfire Lake 10

11 Fortune Lake Property: 46 claim units covering 942 hectares on the eastern end of the Werner-Rex Lakes Fault Zone. Four showings with sub-ore grade values of copper and nickel occur on strike and adjacent to the property, but cobalt values are low. Max-Min electromagnetic survey, completed in 1996 east of Fortune Lake, identified weak conductors coincident with east-west magnetic linear high. Drilling in 1997 identified mafic gneisses containing 10% - 20% pyrrhotite as thin bands, 5 cm thick and disseminated in the gneissic rock. Assays for Cu, Ni, Co and Zn were low. Campfire Lake Property: 41 claim units covering 890 hectares on the possible eastern strike extension of Werner-Rex Lakes Fault Zone. 50 kilometres east of the Werner Lake Mine site. Cobalt Projects: 100% Argo Owned Claims cover a Co-Cu lake-sediment geochemical anomaly discovered by an Ontario Geological Survey highdensity lake sediment survey carried out in Anomaly is on trend with the Werner-Rex Lakes Fault and its associated mineral deposits. Cobalt and copper values defining the anomaly are in the >99 percentile of the population of samples taken in the survey. There is no record of previous staking in the area. * Follow-up exploration warranted, based on: lake sediment anomaly associated with known mineralization on the trend; and, the presence of a relatively high grade, although small, cobalt mine on the trend. 11

12 Cobalt Projects: 100% Argo Owned continued Keelow Lake Property: 45 claim units, covering 945 hectares in the Sault Ste. Marie Mining Division. Situated in granitoid rocks and metasediments immediately north of the Montreal River Fault and north of the Batchewana Greenstone Belt. Area interpreted as the southwest extension of the Kapuskasing Structure. The lakes underlying the claims reflect a cluster of anomalous cobalt in lake sediment ranging from 40 to 105 ppm cobalt and are in the >99 percentile of the population of samples taken in the survey (Hamilton and Fortescue, OGS MRD009-REV, 2007). Follow-up exploration warranted due to the anomalous cobalt in lake sediments within a small watershed and the lack of detailed geological mapping, geophysics and historical work. 12

13 Property Map: Cobalt and other Commodities 13

14 Hurdman Zinc-Silver Project The Hurdman Sulphide Zone is a Zinc-Silver rich sulphide zone that is semi-massive to massive sulphides 450 metres along strike, dipping 15 to 25 degrees north and within 150 metres of surface Drill widths varying from 1 to 38 metres and the mineralization remains open in all directions Significant drill results include 3% zinc and 12 g/t silver over a true width of 23.6 metres The shallow dip of the deposit is amenable to open pit Significant gold credits impact value per tonne 120 k North of Timmins, ON 7928 hectares cover surrounding anomalies 14

15 Management & Directors Judy Baker CEO, Founder & Director 25 years of experience in capital markets including equity analysis, restructuring, fund management, and mineral exploration and mining company activity. Judy Baker holds an Honours B.Sc. Geological Engineering in Mineral Resources Exploration from Queen s University (1990) and an M.B.A. from Ivey Business School (1995). Ken Storey CFO Certified Professional/Management Accountant and Business Analyst with over 25 years of private and public entity accounting experience. Prior to joining Argo Gold, Mr. Storey held senior financial positions in a number of publicly traded, international companies, including Dundee Corp., Vinci S.A., Caterpillar Inc. and Dundee Precious Metals. Chris Irwin Corporate Secretary & Director Legal Counsel and Corporate Secretary for Argo Gold. Mr. Irwin has 20 years of experience in securities and corporate/commercial law. Bill Nielsen Director 43 years of experience in mineral exploration and mine development. Mr. Nielsen is the past President and CEO of Kombat Copper and past VP Exploration for Crocodile Gold and Nevsun Resources. Paul Olmsted Director Currently the CFO for Superior Gold Inc. Previously he served as the Senior Vice President of Corporate Development at IAMGOLD Corp. and was responsible for the company s M&A and divestiture program. George Langdon Director 25 years of experience in exploration & development for oil & gas. Rahim Kassim-Lakha Advisory Board Founder and principal of Blue Sail Capital, Inc, a Toronto based corporate development and consulting firm. Mr. Kassim-Lakha brings a wealth of experience with a unique combination of 16 years of Canadian capital markets experience combined with 7 years of U.S. buy-side training focused on portfolio management. Mr. Kassim-Lakha has held senior management positions with Canadian banks and boutiques and is a graduate of Brown University. 15

16 Argo Gold Summary High-Grade Gold Developing High-Grade Gold Projects in Ontario Woco Gold Project Historic drilling indicates economic grades over mineable widths Shareholder Ownership of Projects Argo Gold s shareholders own 100% of all projects All-Star Technical Team Technical ability to identify projects and explore in the context of economic viability Tight Capital Structure 30 M shares outstanding Great Exposure to Metals Market Turn-Around Exposure to improving gold, silver and zinc prices 16

17 Capital Structure Symbol ARQ on the CSE and ARBTF in the US Share Price $0.12 Common Shares 30,497,928 Warrants 0.1 $0.12 per share 1.3 $0.30 per share Market Cap ~ $3 million 52 Week Low $ Week High $

18 CSE: ARQ ARBTF Judy Baker