Argent Minerals Limited announced a maiden JORC 2012 Resource at its Mt Dudley Gold Prospect ("Mt Dudley Prospect") within the Company's Mt Dudley Gold Project on the eastern Lachlan Fold Belt, NSW. The Resource has been independently estimated by Odessa Resources Pty Ltd. (Perth). The estimate has been produced by using Leapfrog Edge software to produce wireframes of the various mineralised lode systems and block grade estimation using an ordinary kriging interpolation.

Top cuts were applied to individual lodes as necessary to limit the effect of high-grade outliers. The Resource has been classified as a global Inferred based on drill results. The future infill drilling will support further increase in the resource classification.

The Mt Dudley Exploration Licence (EL) 5748 is located approximately 5 km northwest of the township of Trunkey, near Blayney in New South Wales. The Exploration Licence 5748 is 100% owned and operated by Argent Pty Ltd. a wholly owned subsidiary of Argent Minerals Limited. Access can be gained along the sealed Bathurst-Abercrombie Road, thence along the gravelled Colo Road.

The project area covers three main historic workings which includes the Mt Dudley Mine, Scabben Flat workings, Golden Wattle workings and also a number of unnamed small pits. The Mount Dudley mine was discovered in 1913 by McKellar and party, sold to Kirkman and party in approximately 1916 and thence to the Mount Dudley Mining Co (1917) who worked the mine until 1922. Recorded production was 2,268 ounces Au (70.54 kilograms) from 2,800 tons (2,845 tons) at average grade 24.8 g/t. Selective mining appears to have been practised as approximately 1,300 tons of vein material was raised but not treated and approximately 9,000 tons of vein/wallrock in the dump has not been treated.

The mine was "put in order" for inspection during 1941 but no production is recorded at that time. The Scabben Flat workings were discovered prior to Department of Mineral Resources records (pre-1873) but were worked between 1893 and 1894 and from 1916-1917 for recorded production of 42 ounces Au (12.91 kilograms) from 388 tons (394 tons). Gold mineralisation is developed over a north oriented strike length of 630m.

Multiple 5-6m thick lodes form a package of up to 30m thickness that dips at 65o towards the west. The resource is modelled to depth of 95m from surface. However, the mineralization is not closed off at depth with the gold mineralised vein dipping 40o west at surface.

Historical references indicate that the vein steepens to dip 55o west at depth. Collapsed stopes indicate that the vein was mined over a strike length of 75m with most of the production coming from the upper most 15m of the mine.