Argent Minerals Limited (‘Argent' or ‘the Company') announced a maiden JORC 2012 Resource at its Queenslander Gold Prospect (‘Pine Ridge Prospect') within the Company's Pine Ridge 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 historical drill results. The future infill drilling will support further increase in the resource classification.

The database includes both historic and recent drilling completed in 1993 by Gold Rim Exploration Pty Ltd. and from 2019-21 by Argent respectively totaling 5,412.5m in 54 holes: 6 NQ diameter diamond holes for 812.5m; 48 reverse circulation holes for 4,600m; and 5,227 drill assay results. Geological models of the footwall and hanging wall Box Ridge Volcanics were created to aid the interpretation of the mineralized domains. Resource constraints were interpreted using a nominal 0.30 g/t Au lower cut off.

Two separate stacked south-west dipping envelopes were created. The Pine Ridge estimate is reported above a cut off 0.30 g/t Au as a global resource that is not constrained by an optimized pit shell. The Pine Ridge Exploration Licence (EL) 8213, located in an undulating region of the Central Tablelands in New South Wales (NSW), approximately 65 kilometres south of the township of Bathurst and 10 km south-west of Trunkey.

The Exploration Licence 8213 is 100% owned and operated by Argent Pty Ltd. a wholly owned subsidiary of Argent Minerals Limited. Alluvial gold was discovered within the area of EL 8213 in 1851 on the Abercrombie River and its tributaries. After the initial gold rush of the early 1850's, small scale alluvial and deep-lead prospecting and mining continued until the Second World War.

The actual Pine Ridge Gold Mine commenced mining in 1877 and continued sporadically until 1948, producing a total of 6,864t ore with variable gold grades. Mining was originally conducted by open cut workings and then subsequently by underground workings which consisted of 2 shafts up to 20m deep, small open cut pits, an adit and underground drives in a zone that extended over 300m. The mineralisation has been described as a series of mineralised zones (sub-parallel) of highly weathered porphyrite separated by phyllite up to 75m wide that contained gold bearing quartz veins.

Gold mineralisation is associated with strongly sheared volcaniclastics and strong quartz-carbonate-sericite-pyrite alteration. The gold mineralisation trends roughly N-S over a strike distance of 200m by 85m in width and dips steeply at 80o to the west. To date, all holes encountered quartz veining hosted within a volcanic unit (basalt).