Argyle Commends the Ontario Governments Critical Minerals Exploration and Developments Initiatives

Rhea-AI Summary

Argyle Resources Corp. (ARLYF) has expressed strong support for Ontario Government's new critical minerals initiatives. The comprehensive strategy includes a $500 Million Critical Minerals Processing Fund to boost local mineral processing capacity, and a $3.1 billion investment in Indigenous partnerships, with $3 billion allocated to the Indigenous Opportunities Financing Program. The government is implementing a "One Project, One Process" model to reduce mining project approval times by half, particularly in the Ring of Fire region. The initiative aims to establish Ontario as a global leader in critical mineral development, with Premier Doug Ford emphasizing the province's commitment to securing future resources and economic sovereignty. Argyle's Clay Howells project in Ontario aligns with the province's vision for developing a sustainable critical minerals supply chain.

Positive

• Ontario Government's $500 Million Critical Minerals Processing Fund could benefit Argyle's local processing capabilities
• $3.1 billion investment in Indigenous partnerships shows strong government support for mining sector
• Streamlined approval process could accelerate development of Argyle's Clay Howells project
• Strategic alignment of Argyle's projects with government's critical minerals initiative

Negative

• None.

Calgary, Alberta--(Newsfile Corp. - June 4, 2025) - Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) (FSE: ME0) ("Argyle" or the "Company") is pleased to announce its strong support for the Ontario Government's recent initiatives to bolster critical mineral exploration and development within the province.

The Ontario Government has unveiled a comprehensive strategy to enhance the province's position in the global critical minerals market. As the province navigates the fight against tariffs, recognizing that growing Canada's rich critical mineral landscape into immense economic opportunity is crucial. Key components of this strategy include:

• $500 Million Critical Minerals Processing Fund: Aimed at attracting and supporting mineral processing capacity in Ontario, ensuring that minerals mined in the province are also processed locally.
• Indigenous Economic Participation: A nearly $3.1 billion investment to support Indigenous partnerships in critical mineral development, including tripling the Indigenous Opportunities Financing Program to $3 billion and expanding eligibility to include mining and resource development projects.
• Streamlined Approvals: Introduction of the "One Project, One Process" model to halve the approval time for new mining projects, particularly in strategically important regions like the Ring of Fire.

Premier Doug Ford emphasized the significance of these measures, stating, "This legislation sends a clear message: Ontario will lead-not follow-in securing the resources that power the future, defending our economic sovereignty, and building prosperity for generations to come."

Peter Bethlenfalvy, Ontario's Minister of Finance, added, "By investing to unlock and process these minerals here in Ontario in partnership with Indigenous communities, we can make Ontario the top global hub of critical mineral development and protect our economy, workers and communities for decades to come."

The Company commends the Ontario Government for its proactive approach to developing a robust critical minerals sector. The Company's Clay Howells project in Ontario align with the province's vision of a sustainable and integrated critical minerals supply chain.

Figure 1: Clay Howells REE Property Location Map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10451/254418_8f34fa7674ac89a5_001full.jpg

About Argyle Resources Corp.
Argyle Resources Corp. is a junior mineral exploration company engaged in the business of acquiring, exploring, staking and evaluating natural resource properties in North America. In addition to the Saint Gabriel project, the Company currently holds an option to acquire up to 100% of the Frenchvale Graphite Property located in Nova Scotia, Canada and owns 100% interest in the Pilgrim Islands, Matapedia and Lac Comporté quartzite silica projects in Quebec, Canada. Argyle is engaged in a research partnership with the National Institute of Scientific Research (INRS), a high-level research and training institute funded by the Québec government to conduct exploration programs on the Company's silica projects. The Company was incorporated in 2023 and its head office is located in Calgary, Alberta, Canada.

ON BEHALF OF THE BOARD OF DIRECTORS

'Jeffrey Stevens'
President & CEO

For all other inquiries:
Email: info@argylresourcescorp.com
Phone: (825) 724-0033
Website: www.argyleresourcescorp.com

Forward-Looking Statements

All statements included in this press release that address activities, events or developments that Argyle expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements may involve, but are not limited to, statements with respect to the exploration and development of the Company's mineral properties and the use of proceeds from the Offering. These forward-looking statements involve numerous assumptions made by Argyle based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond Argyle's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, Argyle does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

Neither the Canadian Securities Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254418

FAQ

What is the size of Ontario's Critical Minerals Processing Fund announced in June 2025?

Ontario announced a $500 Million Critical Minerals Processing Fund aimed at attracting and supporting mineral processing capacity in the province.

How much is Ontario investing in Indigenous partnerships for critical mineral development?

Ontario is investing $3.1 billion in Indigenous partnerships, including $3 billion for the Indigenous Opportunities Financing Program for mining and resource development projects.

How will Ontario's new 'One Project, One Process' model affect mining approvals?

The model aims to halve the approval time for new mining projects, particularly in strategic regions like the Ring of Fire.

How does Argyle Resources (ARLYF) benefit from Ontario's critical minerals initiative?

Argyle's Clay Howells project in Ontario aligns with the province's vision for critical minerals development and could benefit from streamlined approvals and processing fund support.

What is Premier Doug Ford's stance on Ontario's critical minerals strategy?

Premier Ford stated that Ontario will lead in securing resources that power the future, defending economic sovereignty, and building prosperity for generations to come.