TORONTO, March 28, 2023 /CNW/ - Argonaut Gold Inc. (TSX: AR) (the "Company", "Argonaut Gold" or "Argonaut") is pleased to announce that it has completed the sale of the Ana Paula Project ("Ana Paula") to Heliostar Metals Limited. As per the purchase agreement announced on December 5, 2022, Argonaut has sold 100% of Ana Paula for US$10 million payable in cash upon closing, plus an additional US$20 million in deferred cash and share consideration, contingent on meeting certain milestones. Ana Paula is a non-core asset located in Guerrero, Mexico.