Argo Gold Inc. · CSE:ARQ
Argo Gold — Investor Presentation (December 2025)
15 slides from Argo Gold's investor presentation, Dec 23, 2025
Slide 1: Argo Gold Year-End 2025 High Grade Update
Argo Gold Year-End 2025 High Grade Update Gold Projects Oil Production Uranium Initiative CSE: ARQ | OTC: ARBTF | XFRA / XSTU / XBER: A2ASDS
Slide 2: Forward-Looking Information
F o r wa r d - L o o ki n g I n fo r m a t i o n Certain information contained in this investor presentation of Argo Gold Factors that could cause actual results to vary from forward-looking statements Inc. (the "Company") may constitute forward-looking statements and or may affect the operations, p
Slide 3: The Bases are Loaded with Solid Gold Assets
The Bases are Loaded with Solid Gold Assets Uchi Gold Project – NW Ontario ▪ Multi-year exploration identified high-grade gold mineralization zones on multiple mineralized trends ▪ Drilling from surface to 200 metres drilling has identified ~ 400,000 ounces gold @ ½ ounce gold //tonne ▪ Multi Millio
Slide 4: Oil Production - Lloydminster Area, Alberta
Oil Production - Lloydminster Area, Alberta ▪ 2024 Net Operating Cash Flow has been finalized at CAD$ 1.7 M ▪ 2025 Net Operating Cash Flow Year-to-Date (Jan 2025 – Oct 2025) - CAD$ 0.97 M ▪ Capital Deployment - Drilling of Lloyd 3 and the partial re-drill of Lloyd 2 is oil price dependent ▪ Growth o
Slide 5: Argo's Oil Reserves – Year-End
A r g o ’s O i l R e s e r v e s – Ye a r - E n d 2 0 2 4 Year-End 2024 Company Gross (1) Company Net (2) 0% NPV 10% NPV 15% NPV Heavy Crude Heavy Crude Oil Heavy Crude Oil Million Million Million Oil Reserves Mbbl Mbbl CAD $ CAD $ CAD $ Proved Developed Year-End 2024 200.3 173.3 10.6 7.9 7.0 Oil Re
Slide 6: YTD 2025 Oil Production – Jan-Oct
Argo YTD 2025 Oil Production – Jan-Oct YTD 2025 YTD 2025 YTD 2025 Net Sparky & GP Oil Wells Oil Production Oil Revenue* Operating Cash Flow** (barrels) (CAD $) (CAD $) Lindbergh 1 9,188 $681,793 $353,310 Jan – Oct 2025 Oil Revenue* Lloyd -Includes Oil 5,872 $397,315 $221,409 Jan – Oct 2025 Royalties
Slide 7: 2024 Oil Production Results
Argo 2024 Oil Production Results 2024 2024 2024 Net Operating Sparky & GP Oil Wells Oil Production Oil Revenue* Cash Flow** (barrels) (CAD $) (CAD $) Lindbergh 1 Oil Revenue* 13,474 $982,849 $612,901 -Includes Oil January – December 2024 Royalties Paid in Lloyd Kind and Oil 12,420 $915,869 $590,099
Slide 8: 2023 Oil Production Results
Argo 2023 Oil Production Results 2023 2023 2023 Net Operating Sparky Oil Wells Oil Production Oil Revenue* Cash Flow** (barrels) (CAD $) (CAD $) Lindbergh 1 Oil Revenue* 12,208 $864,082 $533,910 Mar – Dec 2023 -Includes Oil Royalties Paid in Lloyd Kind and Oil 3,942 $254,246 $222,775 Royalties Paid
Slide 9: Oil Operations 2023 - 2025
Argo Oil Operations 2023 - 2025 ▪ Argo put $2.6 M in capital in the ground in 2023 – 2024 participating in development drilling for heavy oil in the Lloydminster, AB area with Croverro Energy. By the end of 2024, Argo had a participating interest in 3 oil wells at Lindbergh, 2 oil wells at Lloyd. ▪
Slide 10: Uranium in the Athabasca Basin, Saskatchewan
U r a n i u m i n t h e At h a b a s c a B a s i n , S a s k a t c h e w a n ▪ 162 square kilometres of highly prospective uranium mineral claims acquired in late 2024 & expanded on in 2025 ▪ Drill targets at both Thunderbolt (3,793 hectares near the Hurricane Uranium deposit) and Thunderclap (264 h
Slide 11: Corporate Snapshot
Argo Corporate Snapshot Shares Outstanding 72,197,774 No Warrants Market Capitalization C $4 M Ongoing Share Buyback (NCIB) Institutions 40% Retail 50% Insiders 10% CSE: ARQ | OTCQB: ARBTF | XFRA / XSTU / XBER: A2ASDS
Slide 12: Appendix A – Argo History & Evolution
Appendix A – Ar go Histor y & Evolution ▪ 2016 - 2017 – Acquired eight high-grade gold projects in NW Ontario and the Wawa area through in-field ground staking and acquisitions ▪ Sold four non-core gold projects to Manitou (sold to Alamos), Angus Gold (sold to Wesdome), RT Minerals, and Cross River
Slide 13: Appendix A – Argo History & Evolution cont.
Appendix A – Ar go Histor y & Evolution cont. ▪ July / August 2024 – Argo stakes over 200 square kilometres in the Rottenstone Belt. ▪ August 2024 – Lloyd 2 Oil Well drilled. September 2024 production. Argo’s share: 18.75%. ▪ October 2024 – Lindbergh 3 Oil Well drilled & producing. Argo’s share: 18.
Slide 14: Appendix B – Canada Matters in Oil
Appendix B – Canada Matter s in Oil ▪ Canada is 5% of the world’s oil supply versus Canada’s 1.5% of global GDP. ▪ Canada exported US$ 568 Billion in 2023. US$ 124 Billion was oil. ▪ Demand for all energy sources continues to grow on a global basis. ▪ 2023 oil consumption was 102 million bbls/day -
Slide 15: Appendix B – Why Oil & Gas?
Appendix B – Why Oil & Gas ? ▪ Oil is 90% of the transportation industry in the United States (2020). The EV initiative is great -> transformation reality is multiple decades. ▪ Coal-fired electric power plants are being transformed to Natural Gas to decrease historical reliance on coal for electric