Argo to Acquire the Hurdman Silver-Zinc Project

Rhea-AI Summary

Argo Gold (OTC: ARBTF) agreed to acquire a 100% interest in the Hurdman Silver-Zinc Project on February 18, 2026.

The project comprises 2,474 hectares located 120 km north of Timmins, Ontario. Consideration is 1,250,000 common shares at CAD $0.125 per share, subject to a four-month statutory hold, plus a small NSR. Historical intercepts include 3.0% Zn and 12.1 g/t Ag over 23.6 m; mineralization is open in all directions.

Positive

• Acquisition of 100% interest in Hurdman project
• Project covers 2,474 hectares near Timmins Ontario
• Historical intercept: 3.0% Zn & 12.1 g/t Ag over 23.6 m

Negative

• Consideration via 1,250,000 shares issued at CAD $0.125
• Vendors receive a small NSR on the claims
• Historical results cited and not necessarily indicative of future results

Toronto, Ontario--(Newsfile Corp. - February 19, 2026) - Argo Gold Inc. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") entered into an agreement on February 18, 2026 to acquire a 100% interest in certain mineral claims known as the "Hurdman Silver-Zinc Project". The Hurdman Silver-Zinc Project is located 120 km north of Timmins, Ontario, totals 2474 hectares covering known mineralization, as well as structural and geophysical targets that are considered prospective for additional silver and zinc mineralization. See Map 1.

The mineral claims are being purchased in exchange for the issuance to the vendors of 1,250,000 common shares of the Company to be issued at a deemed price CAD $12.5 cents per share. The common shares will be subject to a statutory hold period of four months and one day from their date of issuance. Argo is also granting the vendors a small net smelter returns royalty ("NSR") in respect of the mineral claims comprising the Hurdman Silver-Zinc Project.

The Hurdman Silver-Zinc mineralization occurs 450 metres along strike as Silver-Zinc rich semi-massive to massive sulphides, dipping 15 to 25 metres north, within 150 metres of surface. Historical drill widths vary from 1 to 38 metres in true thickness, and the mineralization remains open in all directions. One significant drill intercept is 3.0% zinc and 12.1 g/t silver over 23.6 metres. There are also significant gold intercepts including 48.7 g/t Au over 0.5 metres and 2.5 g/t Au over 4.1 metres. There are numerous untested conductors and structural corridors that may host additional mineralization. Hurdman occurs at the juncture of the Quetico Metasedimentary Belt and the Kapuskasing Structural Zone and is considered to be an Archean Sedex type deposit.

National Instrument 43-101 Disclosure
The technical information in this news release has been reviewed and approved by Michael Guo, who is a "Qualified Person" as defined in National Instrument 43-101. Historical geochemical, drilling results and geological descriptions quoted in this news release are from historical data, previous news releases, a technical report on Hurdman dated March 2018, and from information provided by the Government of Ontario. Management cautions that historical results or discoveries on adjacent or nearby mineral properties are not necessarily indicative of the results that may be achieved on Argo's mineral properties.

About Argo Gold
Argo Gold is a Canadian mineral exploration and development company, and an oil producer. Information on Argo Gold can be obtained from SEDAR+ at www.sedarplus.ca and on Argo Gold's website at www.argogold.com. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) CSE: ARQ as well as quoted on OTC: ARBTF and XFRA, XSTU, XBER: A2ASDS.

Judy Baker, CEO
(416) 786-7860
jbaker@argogold.ca
www.argogold.com

Map 1: Hurdman Silver Zinc Project Mineral Claims and VTEM conductors

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3921/284598_c9486afb64b6885e_001full.jpg

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements in this news release include statements relating to the proposed completion of the acquisition of the Hurdman-Silver-Zinc-Gold Project and the Company's exploration plans in relation thereto. These statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to the acquisition of the Hurdman Silver-Zinc-Gold Property not being completed, delays or uncertainties with drilling and surface preparation work, and not achieving hoped for exploration success. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284598

FAQ

What did Argo (ARBTF) agree to acquire on February 18, 2026?

Argo agreed to acquire a 100% interest in the Hurdman Silver-Zinc Project. According to the company, the deal covers 2,474 hectares and transfers full claim ownership to Argo.

How much is Argo paying for Hurdman in shares and what are the terms?

Argo will issue 1,250,000 common shares at a deemed CAD $0.125 per share as consideration. According to the company, the shares are subject to a four-month-and-one-day statutory hold period.

What historical mineralization did Argo report at Hurdman and how significant is it?

Historical drilling includes 3.0% zinc and 12.1 g/t silver over 23.6 metres as a notable intercept. According to the company, mineralization is semi-massive to massive sulphides and remains open in all directions.

Where is the Hurdman project located relative to Timmins and what geology is noted?

Hurdman is located 120 km north of Timmins, Ontario. According to the company, it lies at the juncture of the Quetico Metasedimentary Belt and the Kapuskasing Structural Zone and is considered Archean Sedex type.

Does Argo grant any royalties to vendors in the Hurdman acquisition?

Yes. Argo is granting the vendors a small net smelter returns (NSR) royalty on the mineral claims. According to the company, the NSR applies to the claims comprising the Hurdman project.