Argonaut Gold Added to the S&P/TSX Composite Index

TORONTO, ONTARIO -- (Marketwire) -- 03/14/12 -- Argonaut Gold Inc. (TSX: AR) ('Argonaut Gold', 'Argonaut' or the 'Company') is pleased to announce that Standard & Poor's Index Operations will be adding Argonaut Gold to the S&P/TSX Composite Index effective as at the open on Monday, March 19, 2012.

One year ago in March of 2011, Argonaut Gold was added to the S&P Global Gold Index and the Global Mining Index. Argonaut has maintained inclusion in these two indices.

At the end of 2011, Argonaut Gold had a fully diluted market cap of $824 million (2010 ended at $383 million) and an average trading volume of 556,000 shares a day (2010 ended at 150,000 shares a day).

Mr. Peter Dougherty, President and CEO of Argonaut Gold, stated 'The Company takes great pride in being able to announce we have been included in the S&P/TSX Composite Index. The accomplishments our team has achieved in just two years are very gratifying, and it's all because of the dedicated employees we have throughout every level of our organization'. Mr. Dougherty added: 'Over that time period we have seen a continual increase in both our market capitalization and share liquidity. The company is focused on delivering on our objectives as we strive to continue Creating Value Beyond Gold'.

About Argonaut Gold

Argonaut is a Canadian gold company engaged in exploration, mine development and production activities. Its primary assets are the production-stage El Castillo Mine in the State of Durango, Mexico, the La Colorada Mine in the State of Sonora, Mexico, the advanced exploration stage San Antonio project in the State of Baja California Sur, Mexico, and several exploration stage projects, all of which are located in Mexico.

Creating Value Beyond Gold

Cautionary Note Regarding Forward-looking Statements

This news release contains forward-looking statements that involve risks and uncertainties that could cause results to differ materially from management's current expectations. Actual results may differ materially due to a number of factors. Except as required by law, Argonaut Gold Inc. assumes no obligation to update the forward-looking information contained in this news release. Fully diluted market cap is based on statistics from stockwatch.com for volume and yahoo finance for stock price as of the final closing price for 2010 and 2011 respectively.

Contacts:

Argonaut Gold Inc.

Nichole Cowles

Investor Relations Manager

(775) 284-4422 x 101
nichole.cowles@argonautgoldinc.com
www.argonautgoldinc.com