Argus Closes Oversubscribed Private Placement

Further to its news release dated May 15, 2012, Argus Metals Corp. (the
"Company" or "Argus") (TSX VENTURE:AML) announces that it has received TSX
Venture Exchange approval to the closing of its private placement. The Company
has raised an aggregate $388,470 via two tranche closings through issuance of
2,559,400 units at a price of $0.05 per unit ("Unit") in the first tranche and
issuance of 5,210,000 Units in the second tranche closing.


Each Unit consists of one common share and one common share purchase warrant (a
"Warrant"). Each Warrant will entitle the holder to purchase one common share of
the Company for a period of twelve months from the closing date at a price of
$0.10 per share.


A finder's fee of $15,260, 7,000 Units and 340,200 finder's warrants of the
Company were paid in connection with the private placement closing. The finder's
warrants have the same terms as the Warrants. The securities issued in relation
to this private placement are subject to regulatory four-month hold period
expiring October 13, 2012, and October 27, 2012. 


The proceeds from the private placement will be used to continue exploration on
the Company's Kaituma, Guyana uranium/gold exploration project and for general
working capital purposes.


About Argus

Argus Metals is a Vancouver based exploration and development company with a
strong portfolio of assets focused on gold in the Yukon and uranium/gold in
Guyana. The 100% owned Hyland project in the Yukon is a highly prospective gold
project with the potential to substantially increase its existing NI 43-101 Au
Eq resource. 


The Company's directors and officers are a geologically focused team whose
objective is to build shareholder value through exploration and development of
existing projects and through identifying assets with company making potential. 


ON BEHALF OF THE BOARD OF DIRECTORS

Michael Collins, President and CEO

For further information on Argus Metals visit: www.argusmetalscorp.com.

The Units have not been registered under the United States Securities Act of
1933, as amended (US Securities Act), and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements. This news release does not constitute an offer to sell or a
solicitation of an offer to buy such Units in any jurisdiction in which such an
offer or sale would be unlawful.


Certain statements in this press release may be considered forward-looking
information, including those relating to the "expectations", "intentions" or
"plans" of the Company. Specifically, there is no guarantee the private
placement will close on the basis announced, or at all. Such information
involves known and unknown risks, uncertainties and other factors - including
the approvals of regulators, availability of funds, the results of financing and
exploration activities, the interpretation of drilling results and other
geological data, project cost overruns or unanticipated costs and expenses and
other risks identified by the Company in its public securities filings-- that
may cause actual events to differ materially from current expectations. Readers
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. The Company disclaims any
intention or obligation to update or revise any forward-looking statements,
except to the extent required by law, whether as a result of new information,
future events or otherwise.