Argyle Announces Concurrent Exploration Program at Matapedia Silica Project

Rhea-AI Summary

Argyle Resources Corp (OTCQB: ARLYF) has announced its Phase 1 exploration program at the Matapedia Silica Project in Québec, Canada. The program, set to begin Summer 2025, will work concurrently with ongoing research by the Institut National de la Recherche Scientifique (INRS).

The exploration program includes:

• GIS-based preliminary purity mapping using XRF analysis
• Detailed prospecting and collection of 130 chip samples
• Integration of field and lab data to identify high-purity zones
• Analysis of samples by ISO certified assay laboratory

The company plans to utilize its pilot plant facility and leverage operational efficiencies due to the project's proximity to their Saint Gabriel Silica Project. Additionally, Argyle has granted 250,000 stock options to a director at an exercise price of $0.56 per share, vesting after four months and exercisable for five years.

Positive

• Strategic location enables operational cost reduction and efficiency improvements
• Access to existing pilot plant facility reduces capital expenditure needs
• Concurrent research collaboration with INRS enhances data collection efficiency

Negative

• Project still in early exploration phase with no proven reserves
• Additional shareholder dilution through new stock option issuance

Calgary, Alberta--(Newsfile Corp. - April 22, 2025) - Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) (FSE: ME0) ("Argyle" or the "Company")") is pleased to announce the Phase 1 exploration program at the Company's Matapedia Silica Project, located in Québec, Canada. The Phase 1 exploration will focus on advancing the understanding of the potential of the project and identifying targets for a potential future phase 2 program at Matapedia.

The data from the concurrent Matapedia work program (see news release dated December 3, 2025) being carried out by the Institut National de la Recherche Scientifique ("INRS") is planned to be utilized to maximize efficiencies. Data such as silica outcrop locations, geologic and structural mapping of silica outcrops, gamma spectrometric analysis of silica outcrops and lithogeochemical sampling of silica outcrops will be shared to assist with efficiencies and to validate exploration work being conducted by INRS.

Phase 1 exploration will include comprehensive site visits and prospecting activities. Key tasks for this phase of exploration will include:

• GIS-Based Purity Mapping: The team will develop a GIS-based preliminary purity indication map, using data from the XRF analysis, to visualize the distribution of silica purity across the project area.

• Prospecting & Chip Sample Collection: The exploration team will conduct detailed prospecting and collect chip samples to better understand the geology and potential of the silica deposit. Phase 1 sampling program has proposed 130 samples from Matapedia to be collected

• Refining Purity Maps: Field and lab data will be integrated to refine the purity maps and highlight high-purity zones that have potential for further development.

• Sample Analysis: Program budgeted for 130 samples to be analyzed by ISO certified assay laboratory

Once the field activities are complete, a comprehensive report will be delivered, covering the results from the fieldwork, laboratory analysis, and specific recommendations for advancing to Phase 2 exploration.

Proposed Phase 2 program at Matapedia is a follow up stripping and channel sampling program at potentially identified high value targets.

Figure 1: Property Location Map of Matapédia in the La Rédemption region of Québec

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10451/249270_9ea013cda47a8909_001full.jpg

"We are thrilled to begin the concurrent Phase 1 exploration program at the Matapédica Silica Project" said Jeff Stevens, CEO of Argyle Resources Corp. "The data gathered during this program will be crucial for identifying and confirming high-purity silica zones and guiding our future exploration efforts."

The Phase 1 exploration program is expected to begin Summer 2025 and will include a variety of field activities to assess the geological and environmental conditions at the site. The data gathered from this phase will help guide future exploration and development activities aimed at defining the project.

Proximity to Argyle's Matapedia Project and Utilization of Pilot Plant Facility

The Saint Gabriel Silica Project is located in close proximity to Argyle's Matapédia Project, which offers significant logistical and operational efficiencies. The proximity of these two projects enables the Company to streamline exploration activities, reduce operational costs, and maximize resource development. Additionally, Argyle's pilot plant facility, currently being utilized by the INRS for other Argyle projects in Québec, will be available for processing materials from the Saint Gabriel Silica Project. This facility further enhances the efficiency and cost-effectiveness of Argyle's operations in the region.

In addition, the Company has granted 250,000 stock options ("Options") to a director, pursuant to its Omnibus Plan, at an exercise price of $0.56 per share. The Options will be exercisable for a period of five years and will vest four months and a day following the Option grant. The Options granted under the Omnibus Plan are subject to shareholder approval at the Company's next annual general meeting.

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, Matapédia, Lac Comporté and Saint Gabriel quartzite silica projects in Québec, 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.

Qualified Person
George Yordanov, P.Geo., Director, reviewed and approved the scientific and technical information disclosed in this press release, acting as the Company's Qualified Person as defined by National Instrument 43-101.

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. 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/249270

FAQ

What are the key components of ARLYF's Phase 1 exploration program at Matapedia?

The program includes GIS-based purity mapping, collection of 130 chip samples, field data integration, and ISO-certified laboratory analysis to identify high-purity silica zones.

When will Argyle Resources (ARLYF) begin its Matapedia Silica Project exploration?

The Phase 1 exploration program is scheduled to begin in Summer 2025.

How many stock options did ARLYF grant and at what price?

Argyle granted 250,000 stock options to a director at $0.56 per share, exercisable for five years with a four-month vesting period.

What are the operational advantages of ARLYF's Matapedia Project location?

The project's proximity to the Saint Gabriel Silica Project allows for streamlined exploration activities, reduced operational costs, and access to the company's pilot plant facility.