Argent Minerals : Drilling To Commence over New Drill Targets at Kempfield

ASX Code: ARD

19 July 2022

ASX Release

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DRILLING TO COMMENCE OVER NEW DRILL TARGETS AT KEMPFIELD

RC Drilling planned to commence in October/November 2022 subject to favourable weather conditions

HIGHLIGHTS

• RC drill programme of approximately 2,500m is planned over the Kempfield Polymetallic Project.
• The RC programme is designed to increase the known tonnage and grade of the resource over VHMS Kempfield Deposit along strike and depth.
• A detailed review of previous historical drilling results and re-interpretation of high-resolution geophysics has improved the targeting locations of structures which control the polymetallic mineralisation.
• The objective of the RC drilling campaign is focused on:

• Testing the high-grade mineralisation along strike and depth within the Kempfield Deposit to increase the grade and tonnage over the known JORC Resource.

personalArgent Minerals Limited (ASX: ARD) ("Argent" or "the Company") is pleased to announce the upcoming RC drilling program over its 100% owned Kempfield Cu-Pb-Zn-Au-Ag Project in New South Wales.

Argent Minerals Limited Managing Director Mr. Kastellorizos commented:

"The Kempfield Project still remains on track for further resource expansion based on numerous geochemical and geophysical targets which remain completely untested from previous exploration".

High-grade historical rock chip assays, drill grades and historical mined areas have highlighted the significant exploration potential over the Kempfield Project area".

"The high-resolution ground IP interpretation has clearly defined extensive high resistivity zones (potential quartz veins) and chargeability zones (potential sulphides) which have excellent potential for hosting polymetallic mineralisation. These targets have been defined as "stand up" and will be systematically tested by RC drilling in 2022".

"By completing this process, we have advanced the Company's strategy by identifying and priority target areas which have the Forpotential for delineating undiscovered mineralisation".

About the Kempfield Project Area

The Kempfield Project is located 45km SSW of Blayney and 8km west of Trunkey Creek in New South Wales. The Kempfield area first became known for barite mining which commenced in 1918 and continued periodically until the Geological Survey of NSW undertook mapping from 1971. Access to the project is by 9 km of an unsealed all-weather road from the town of Trunkey Creek in the Evan Shire. The Kempfield Project is the Company's flagship project and is registered in New South Wales State as a Significant Development.

ARGENT MINERALS LIMITED

Level 2, 7 Havelock Street, West Perth WA 6005

PO Box 308, West Perth WA 6872

1. [phone] | E: [e-mail]: 89 124 780 276

ASX Code: ARD

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Figure 1 - Kempfield Deposit Location Map highlighting the regional positioning to the Godolphin fault hosting the 2.2Moz McPhillamy's Gold deposit to the north

Strategically Positioned in World-Class Area

The Lachlan Orogen is host to one of the largest underground gold mines in the Southern Hemisphere, Newcrest's Cadia Valley Operations. The current Cadia Valley Operations Mineral Resource comprises more than 40 million ounces of gold. The region also hosts world-classcopper-gold and gold deposits (>100 Mt) such as Northparkes and Cowal.

ForThe Kempfield deposit belongs to a peer group of volcanic-hosted massive sulphide (VHMS) deposits located at the margins of geological basins. This peer group is known as the Eastern Australian Palaeozoic VHMS Deposits and includes well-known rich deposits such as Rosebery, Que River, Hellyer, Mt. Lyell, Sunny Corner, McPhillamys, Woodlawn, Captains Flat and Thalanga (Red River Resources).

The growing number of newly identified zones of the Kempfield deposit, along with the major deposit size and increasing lead, zinc, silver and gold grade trends, positions Kempfield with the significant potential to become a major provider of base and precious metals

Mineralisation

Mineralisation is hosted in stratiform and probably barite-rich horizons occurring in what appear to be a series of tight isoclinal folds. Silver, lead, zinc, gold and barite mineralisation is derived from submarine volcanic exhalations associated with the felsic

Table 1 - Upcoming Proposed RC Drillhole Programme outlining the various Drill Targets

ASX Code: ARD

volcanic activity. The geology and mineral assemblage are consistent with a distal facies of a volcanic-hosted base metals sulphide deposit (VHMS).

onlyPrimary mineralogy comprises pyrite, chalcopyrite (copper), galena (lead), sphalerite (zinc), tetrahedrite (silver), native silver and p rargyrite. Silver is present in tetrahedrite, native silver, pyrargyrite, argentite and galena. Seven (7) zones of barite/sulphide mineralisation have been identified over a 3 km strike length within the volcano-sedimentary sequence.

Exploration and Targets

The 2,500m RC drill programme is designed to increase the resource tonnage and grade within the main orebody and satellite mineralised lodes within the Hervey zones over a total length of 1.2 km.

use		Hole ID	Easting		Northing		Depth		Dip		Azimuth			Target
	P001	709212		6259142		170		-60		125			Eastern Henry Zone
	P002	709146		6259188		290		-60		125			Eastern Henry Zone
	P003	709129		6258988		150		-60		120			Southern Henry Zone
	P004	709271		6259249		180		-60		125			Southern Henry Zone
	P005	709073		6259030		240		-60		125			Henry Zone eastern lode
		P006	709216		6259476		200		-60		120			Northern Henry Zone eastern lode
		P007	709120		6259549		200		-60		120			Northern Henry Zone eastern lode
		P008	709074		6259342		260		-60		120			Henry Zone eastern lode
		P009	708261		6258082		240		-60		120			Main Zone
		P010	708591		6258407		310		-60		120			Main Zone
		P011	708521		6258275		220		-60		120			Main Zone

	Total		2,460m
This ASX announcement has been authorised for release by the Board of Argent Minerals Limited.
				-ENDS-
For further information, please contact:
personal
Pedro Kastellorizos
Manging Director/Chief Executive Officer
A gent Minerals Limited
[e-mail]
About Argent Minerals Ltd
ForArgent Minerals Limited is an ASX listed	public company focused on creating shareholder wealth through the discovery, extraction,

and marketing of precious and base metals. A key goal of the Company is to become a leading Australian polymetallic producer, mining 1.5

million tonnes per annum with a mine life of the order of 20 years. The Company's project assets are situated in the Lachlan Orogen in New South Wales, Australia, a richly mineralised geological terrane extending from northern NSW through Victoria and into Tasmania. Argent Minerals' three projects, in each of which the Company owns a controlling interest, is strategically positioned within a compelling neighbourhood that is home to Australia's first discovery of gold, and today hosts world class deposits including one of the largest underground copper-gold mines in the southern hemisphere, Newcrest's Cadia Valley Operation.

Argent Minerals Limited encourages all current investors to go paperless by registering their details with the designated registry service

provider, Automic Group.

ASX Code: ARD

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Figure 2 - Kempfield Project highlighting proposed RC drilling target areas

ASX Code: ARD

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Figure 3 - Location of barite outcrops vs the known JORC Mineralised Shells coinciding with surface geochemical zones and

untested geochemical anomalies