Argent Minerals Limited - RC DRILLING TO BE COMMENCING AT KEMPFIELD POLYMETALLIC PROJECT

About this update from Argent Minerals Limited

Argent Minerals Limited (ASX: ARD) ('Argent' or 'the Company') is pleased to advise the commencement of RC drilling over its 100% Kempfield Cu-Pb-Zn-Au-Ag Project in NSW. The Kempfield Silver Deposit Mineral Resource estimate for all categories has been upgraded to 63.7Mt @ 69.75 g/t silver equivalent for 142.8 million ounces Ag Eq, containing of 65.8Moz silver, 125,192 oz gold, 207,402t lead & 420,373t zinc (ASX Announcement 25 July 2024 : Significant Silver Resource Upgrade over Kempfield Deposit). Chief Drilling from Orange NSW has been awarded the contract to drill approximately 3,300m using a Bormor 150 drill rig and a 900/350 Sullair auxiliary compressor booster unit. Drilling will firstly commence over the Kempfield NW Zone and thereafter over the Sugarloaf Hill Prospect area Argent Minerals Limited Managing Director Mr Kastellorizos commented: 'Argent is pleased to announce that we have received NSW Regulator & Crown Lands approval for an RC drilling campaign over Argent's flagship project, Kempfield Deposit in NSW. Recent work in the project area has delineated significant walkup drill targets yet to be systematically drill tested. Based on structural, geological and the more recently completed geochemical programs, Argent has identified 13 untested zones which have excellent potential to host gold, silver and base metal mineralisation. We have advanced the Company's strategy by identifying priority target areas which have the potential for delineating undiscovered mineralisation. The Kempfield Project remains on track for further resource expansion based on numerous drillholes which finished in mineralisation along with broad high-grade down plunging silver mineralisation previously outlined RC drilling will focus on 13 high priority regional targets outside the current resource over the Kempfield Deposit. All RC drill holes are planned to test the shallow gold-silver-gold-base metal barite hosted mineralisation along these highly prospective regional trends. The planned drill depths vary from 50m to 100m at this stage - deeper extensional drilling will depend on the incoming XRF preliminary results on site Strategically Positioned in World-Class Area The Lachlan Orogen is host to one of the largest underground gold-copper mines in the Southern Hemisphere, Newmont Mining's (NYSE: NEM) Cadia Valley Operations. The current Cadia Valley Operations Mineral Resource comprises >50 million ounces of gold, and 8.7Mt of contained copper metal. The region also hosts world-class copper-gold and gold deposits (> 100 Mt ) such as the North Parkes and Cowal mines. The Kempfield Project is the Company's flagship project and is registered in NSW as a Significant Development . The growing number of newly identified zones of the Kempfield deposit, along with the major deposit size and increasing, silver, gold, lead and zinc grade trends, provides Kempfield with significant potential to become a major producer of base and precious metals. Contact: Email: [email protected] Competent Persons Statement The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Pedro Kastellorizos. Mr. Kastellorizos is the Managing Director/CEO of Argent Minerals Limited and is a Member of the AusIMM of whom have sufficient experience relevant to the styles of mineralisation under consideration and to the activity being reported to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Kastellorizos has verified the data disclosed in this release and consent to the inclusion in this release of the matters based on the information in the form and context in which it appears. Competent Persons Statement The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Pedro Kastellorizos. Mr. Kastellorizos is the Managing Director/CEO of Argent Minerals Limited and is a Member of the AusIMM of whom have sufficient experience relevant to the styles of mineralisation under consideration and to the activity being reported to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Kastellorizos has verified the data disclosed in this release and consent to the inclusion in this release of the matters based on the information in the form and context in which it appears. Forward Statement This news release contains 'forward-looking information' within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget' 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or indicates that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be' taken, 'occur' or 'be achieved.' Forward-looking information is based on certain factors and assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, commodity prices, the estimation of initial and sustaining capital requirements, the estimation of labour costs, the estimation of mineral reserves and resources, assumptions with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the project, permitting and such other assumptions and factors as set out herein. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in commodity prices; sources and cost of power and water for the Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labour costs; general global markets and economic conditions; risks associated with exploration of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade for the project; risks associated with uninsurable risks arising during the course of exploration; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing the Company and the Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalisation and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at the project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation. Although the Company has attempted to identify important factors that cause results not to be as anticipated, estimated or intended, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward looking information is made as of the date of this announcement and the Company does not undertake to update or revise any forward-looking information this is included herein, except in accordance with applicable securities laws. (C) 2024 Electronic News Publishing, source ENP Newswire

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