Argus Metals

Argus Metals Corp. reports assays from nine additional drill holes resulting in a new gold discovery at the CUZ Zone and an expansion of the Main Zone deposit at depth and to the east at its Hyland Gold Project, Selwyn Basin, Yukon. Additional assay results are pending and will be announced as they are received. An NI 43-101 compliant resource update for the Main Zone has been commissioned and is anticipated to be completed early in 2012 once all remaining assays are received.

Exploration drilling four km south of the Main Zone at the CUZ anomaly intersected 4.5 m of 1.93 g/t Au in quartz stockwork mineralization. Soil sampling in the 2011 summer exploration program has also expanded the strike of the CUZ gold-in-soils geochemical target to over two km in length. This stock work zone is interpreted as a secondary (cross-cutting) east-west trending structure with potential for expansion where it intersects the primary north-south Quartz Lake Lineament.

Results of up to 25.9 m of 2.03 g/t gold and 6.42 g/t silver have expanded the Main Zone Deposit at depth and to the east. Additional drill results are pending for the Main Zone.

President Michael Collins says, “In Fall of 2010, Argus doubled the size of the Hyland Claim package to exploit the new model developed from the 2010 exploration success and the evolution of the Selwyn Basin exploration models used by other companies including ATAC Resources and Northern Tiger to the north of the Hyland Gold Project. The discovery of the CUZ Zone mineralization four km south of the Main Zone demonstrated the district-scale potential of the now 24 km strike of the Hyland Gold Project land package. Argus will continue to work to expand both the newly discovered CUZ Zone mineralization and also to define promising gold/arsenic-in-soils anomalies in the under explored north and south extents of the Hyland Gold Project.”