Argus Divests Hyland Gold Project Into Banyan Capital Corp.

Argus Metals Corp. (the "Company" or "Argus") (TSX VENTURE:AML) has signed a
letter of intent ("LOI") with Banyan Coast Capital Corp. ("BYN") for the sale of
the Hyland Gold Project to BYN for 4,000,000 common shares of BYN. The Company
intends to distribute these shares to all Argus shareholders of record upon
completion of the final transaction. 


Terms of the agreement include:



--  4,000,000 common shares in BYN to be distributed to Argus shareholders
    of record on acceptance by the TSX Venture Exchange 
--  $15,000 cash payment to be made within seven days of signing the LOI and
    an additional $20,000 payment on final closing of the agreement.



The agreement with BYN, and the proposed subsequent distribution of the BYN
shares to Argus' shareholders, is subject to both the acceptance of the TSX
Venture Exchange and a vote by Argus shareholders at the Company's AGM expected
to occur in November, 2012.


BYN. is a capital pool company with 3,334,000 shares outstanding. 1,334,000 of
these are escrow shares which will be released over a 36-month period following
closing of the transaction. The purchase of the Hyland project will be BYN's
"qualifying transaction". On the basis of the proposed acquisition and
associated financing, Argus shareholders will hold 33% of the resultant issued
shares of BYN and over 40% of the free-trading shares of BYN.


President Michael Collins comments, "The Board and management of BYN is a
Yukon-focused mineral exploration group with a vision for the further
development of the Hyland Gold Project. Given current market conditions, and the
existing stock structure of Argus, Company management believes that this
proposed transaction is the best way to ensure the strongest participation of
current Argus shareholders in the Hyland Gold Project as it moves forward."


Hyland Gold Project:

The Main Zone gold inferred resource, at a 0.6 g/t gold equivalent ("AuEq")
cutoff now stands at 12,503,994 tonnes containing 361,692 ounces gold at 0.9 g/t
and 2,248,948 ounces silver at 5.59 g/t which represents an increase of 209%
over the historic, non NI 43-101 compliant resource. Targets for expansion of
this resources include the Main Zone as well as the CUZ Zone located four km to
the south and the Strat Zone target located 1.5 km north of the Main Zone. 


Resource highlights are:

NI 43-101 Main Zone Inferred Resource Estimates at 0.6 g/t AuEq(i) cutoff:



--  361,692 oz gold (12,503,994 tonnes of 0.90 g/t) 
--  2,248,948 oz silver (12,503,994 tonnes of 5.59 g/t) 



Combined gold & silver, AuEq



--  396,468 oz gold equivalent (12,503,798 tonnes at 0.99 g/t)

----------------------------------------------------------------------------
AuEq                                                                        
Cut-off          Tonnes Grade      Ozs   Ag g/t     Ag Ozs AuEq g/t AuEq Ozs
----------------------------------------------------------------------------
 0.4 g/t     16,820,094  0.79  425,424     4.84  2,619,911     0.86  465,946
----------------------------------------------------------------------------
 0.5 g/t     14,734,230  0.84  397,785     5.18  2,453,560     0.92  435,738
----------------------------------------------------------------------------
 0.6 g/t     12,503,994  0.90  361,692     5.59  2,248,948     0.99  396,468
----------------------------------------------------------------------------
 0.7 g/t      9,678,679  0.99  307,098     6.39  1,988,733     1.09  337,824
----------------------------------------------------------------------------
 0.8 g/t      7,038,666  1.10  248,349     7.31  1,654,686     1.21  273,942
----------------------------------------------------------------------------
(i) "Gold equivalent" or "AuEq" is based on silver metal content valued at  
0.016 gold value using a $1016 US Au price and a $15.82US Ag price, which   
approximates the average prices for these metals over the last three years. 



With the execution of the Hyland transaction the Argus Board of Directors
envisions a share consolidation of up to 20 for one basis. The proposed share
consolidation will be brought forward for approval of Argus shareholders at the
Argus AGM expect to occur in November 2012. Argus will now focus on the Ike
Project in Yukon and the Iron King Project in Peru.


ON BEHALF OF THE BOARD OF DIRECTORS

Michael Collins, President & CEO

We seek safe harbour.

Certain statements set out in this News Release constitute forward-looking
statements. Forward-looking statements are often, but not always, identified by
the use of words such as "expect", "may", "could", "anticipate", or "will", and
similar expressions; (ii) may describe expectations, opinions or guidance that
are not statements of fact and which may be based upon information provided by
third parties, or upon the opinions, expectations and estimates of management of
the Company as at the date the statements are made; (iii) are subject to a
variety of known and unknown risks and uncertainties and other factors that
could cause actual events or outcomes to differ materially from those
anticipated or implied by such forward-looking statements, including, but are
not limited to risks, uncertainties and other factors that are beyond the
control of the Company, risks associated with the industry in general, commodity
prices and exchange rate changes, operational risks associated with exploration,
development and production operations, delays or changes in plans, risks
associated with the uncertainty of reserve estimates, health and safety risks
and the uncertainty of estimates and projections of production, costs and
expenses. In light of the risks and uncertainties associated with
forward-looking statements, readers are cautioned not to place undue reliance
upon forward-looking information. In particular there is no assurance that the
Company will be able to close the proposed sale of the Hyland project on the
terms outlined above, or at all. Although the Company believes that the
expectations reflected in the forward-looking statements set out in this press
release or incorporated herein by reference are reasonable, it can give no
assurance that such expectations will prove to be correct. The forward-looking
statements of the Company contained in this press release, or incorporated
herein by reference, are expressly qualified, in their entirety, by this
cautionary statement.