Argonaut Exploration Inc. Completes Two Acquisition Agreement Cash Payments for the Historic Cordillera Gold Property

Argonaut Exploration Inc. (TSX VENTURE:AGA) ("Argonaut" or "the Company") has
completed two asset purchase agreements (the "Agreements") dated effective
September 30, 2012 with arm's length parties (the "Vendors"), to acquire 100%
interest in certain mineral properties located in the Terrace area of British
Columbia (the "Cordillera Gold Property"). The Cordillera Gold Property consists
of 4 mineral tenures totalling approximately 187 hectares and is adjacent to the
Company's recently acquired Lucky Luke Mine tenures. Additional information on
the Cordillera Group is summarized in the Company's news release dated October
16, 2012.


Pursuant to the terms of the Agreements, the Company acquired a 100% interest in
the Cordillera Gold Property mineral tenures in consideration for cash payments
totalling $8,000 and the issuance of an aggregate of 150,000 common shares in
the capital of the Corporation, subject to approval of the TSX Venture Exchange.
Using a deemed value of $0.025 per common share, the aggregate consideration to
be paid to the Vendors is $11,750.


About Argonaut Exploration Inc. 

Argonaut is a junior mineral exploration company focused on the acquisition,
exploration and development of gold, silver and copper bearing mineral
properties. For more information on the Corporation visit its website at
www.argonautexploration.com.


This news release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact, are
forward-looking information and such information involves various risks and
uncertainties. There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such information. A description of assumptions used to
develop such forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking information
can be found in the Company's disclosure documents on the SEDAR website at
www.sedar.com. The Company does not undertake to update any forward-looking
information except in accordance with applicable securities laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Argonaut Exploration Inc.
Ray Cook
President and C.E.O.
[phone]
[e-mail]