ARGENT MINERALS : STRATEGIC CO-OP AGREEMENT WITH MINREX AND EXPLORATION UPDATE

Argent Minerals Limited (ASX: ARD, Argent, or the Company) is pleased to announce it has entered into a strategic co-operation agreement with MinRex Resources Limited (MRR).

Strategic Co-operation Agreement

Argent Minerals Limited (ASX: ARD, Argent or the Company) has signed a strategic co-operation agreement with MinRex Resources Limited (ASX: MRR) outlining the commitment of both companies to work together to consider and exploit opportunities for potential synergies across their businesses.

MinRex has recently entered into binding agreement to acquire a number of gold and base metal projects in the prospective East Lachlan Fold Belt of NSW which is only 60km away from the Argent's 100Moz eq silver deposit at Kempfield.

The Strategic Co-operation Agreement has already yielded exploration traction, with Argent and MinRex securing a X350 RC drill rig in the Lachlan Fold belt from Strike Drilling for exploration campaigns in 2021.

On the Co-operation Agreement, Argent Managing Director George Karageorge said: 'Argent looks forward to working closely with MinRex. The Co-operation agreement provides both companies with unique opportunities such as the 12 months exclusive use of a Strike Drillings all-terrain track rig' Mr Karageorge added 'Argent and MRR's success in securing a drill rig for 2021 operations is a fantastic achievement given the lack of available and suitable drill rigs in NSW.'

About the X350 RC Drill Rig

The X350 drill platform is mounted on a VD3000 Moroka track base, an industry-leading combination of features that allows for a reduced environmental footprint (4 psi ground pressure) and extreme remote accessibility. The agreement provides for mobilization costs as the rig is currently in WA, which will be shared by the parties, and a schedule of rates for drilling and other activities, to be paid by the party using the rig. The rig is expected to arrive in the Lachlan Fold belt in February 2021 and will immediately commence drilling on Argent's historic Pine ridge gold Mine prospect.

Contact:

George Karageorge

Tel: [phone]

Email: [e-mail]

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