ARGYLE RESOURCES CORP - ARLYF STOCK NEWS

Argyle Resources Corp (CSE: ARGL, OTCQB: ARLYF) announces two non-brokered private placement offerings. The first is a flow-through (FT) private placement of units at $0.54 per unit, aiming to raise up to $1,000,000. Each FT unit includes one share and one warrant exercisable at $0.65 for 24 months. The second is a concurrent private placement at the same price per unit, targeting up to $300,000 in proceeds.

Both offerings are expected to close around December 20th, 2024, subject to regulatory approvals. Securities will have a four-month hold period. The FT shares qualify as flow-through shares under the Income Tax Act (Canada), with proceeds intended for Canadian exploration expenses. The company plans to use the funds to advance its exploration activities.

Argyle Resources Corp. has completed comprehensive field exploration work at its Matapedia Silica Project in St. Moise, Quebec, in partnership with INRS. The program included geological mapping, geochemical sampling, and petrophysical testing. Key activities involved verification of outcrops, gamma spectrometric analysis, lithogeochemical sampling, and collection of 400 samples (15-20 lbs each) for particle size studies. Additionally, a 150 kg sample of high-purity quartzite was collected for further analysis. The exploration work spanned seven weeks across three field interventions in 2024. Airborne drone imagery has been postponed to spring 2025 due to poor weather conditions.

Argyle Resources Corp. has closed a non-brokered private placement, raising approximately $999,998.65 through the issuance of 1,176,469 units at $0.85 per unit. Each unit includes one common share and one purchase warrant, allowing holders to buy a common share at $1.05 within 24 months. The shares qualify as 'flow through shares' under the Income Tax Act (Canada), with proceeds intended for Canadian exploration expenses that qualify as flow-through mining expenditures, which will be renounced to unit purchasers.

Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) announces a non-brokered private placement of flow-through units at $0.85 per unit, aiming to raise up to $1,000,000. Each unit includes one common share and one warrant, with warrants exercisable at $1.05 for 24 months. The flow-through shares qualify under the Income Tax Act (Canada), with proceeds intended for Canadian exploration expenses. The placement is expected to close around November 22, 2024, subject to regulatory approvals, with securities having a four-month hold period.

Argyle Resources (CSE: ARGL) (OTCQB: ARLYF) has entered into a definitive agreement to acquire the Saint Gabriel Silica project from Steadright Critical Minerals. The project consists of 23 contiguous mineral claims in Quebec's Bas Saint-Laurent region. The acquisition terms include $65,000 in cash and 300,000 common shares, with shares subject to escrow restrictions releasing in three tranches over 12 months. The claims carry a 2% net smelter returns royalty, half of which can be repurchased for $1,500,000. Argyle plans to deploy a technical team to commence initial exploration at Saint Gabriel.

Argyle Resources (ARLYF) provides an update on its pilot processing facility in St-Lambert-de-Lauzon, Quebec. The facility has been equipped with three key pieces of equipment from INRS: a ball mill for crushing quartzite, a sieving machine for particle analysis, and a hydraulic shaking table for mineral separation.

Starting November 2024, the company plans to process 200 kg bulk samples from the Matapedia project to produce high-grade metallurgical silica for potential use in solar panels, semiconductor chips, and EV battery manufacturing. The facility's strategic location near INRS campus and silica exploration properties will optimize processing efficiency and enable real-time testing.

Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) has completed Phase I diamond drilling at its Frenchvale Graphite Property in Nova Scotia. The program targeted an 800-metre trend of marble-hosted graphite, validating historic drill results and testing new targets identified by recent IP surveying. 425 metres of drilling across four holes intercepted crystalline flake graphite within light and dark grey siliceous marble.

Key observations include:

• Main Zone marble units show moderate to low conductivity and chargeability
• Bedrock outcroppings reveal a moderately shallow dip to the northwest
• The Main Zone metasedimentary package appears as a coherent block with minimal faulting

Samples will be analyzed for total graphitic carbon and flake characterization. The company emphasizes the importance of developing domestic graphite sources, given China's 2023 export ban on natural graphite.

Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) has provided an update on its Matapedia silica project in Quebec. The company, in collaboration with INRS, has identified five initial quartzite outcrop areas with high silica potential. These areas will serve as the first targets for exploration, chosen for their accessibility. A one-month restriction on access due to hunting season began on October 5, 2024, with exploration activities set to resume afterward.

The exploration program will include geophysical measurements, SWIR-NIR reflectance, and colorimetric measurements. Argyle has acquired an XRF gun for real-time analysis of silica samples. Samples will be processed at the company's pilot plant facility in St-Lambert-de-Lauzon to determine suitability for various industrial applications. Argyle is also in discussions with another university research group and potential end users for independent analysis and off-take partnerships.

Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) has completed an Induced Polarization (IP) geophysical survey at its Frenchvale Graphite Property in Nova Scotia. The 13.5-line-kilometer survey covered an area of historic drilling, which identified an 800-meter trend of marble-hosted graphite. Preliminary results show a 900-meter wide zone of very high chargeability responses, suggesting several sub-parallel mineralized horizons.

The final geophysical survey report, including 3D numerical inversions, will be combined with historical data to guide an upcoming drill program. Drilling notifications have been submitted, with approvals expected within a week. A drill contractor has been selected and is ready to start by the end of September.

Argyle emphasizes the importance of identifying domestic graphite sources, especially following China's 2023 ban on natural graphite exports. The company aims to contribute to supply chain stability and economic growth in response to increasing demand for this critical mineral.