CALGARY, ALBERTA--(Marketwire - Sept. 26, 2012) - Argonaut Exploration Inc. (the "Company") (News - Market indicators), a company engaged in the exploration and development of precious and base metals near Terrace British Columbia, is pleased to announce the completion of the 2012 Victor vein drill program.

Victor Vein Drilling

Eight NQ sized drill holes totaling 750 metres were drilled in a westerly directed fanning pattern from two vein parallel drill pads to test the 150 metre long, gold bearing, Victor quartz vein. The holes varied in dip from -45° to -90° with quartz veining encountered in all eight holes. Core and rock samples are being prepared for assay. The program results will be released at a future date.

Final Share Payment

The Company's High Gold property is subject to a 100% purchase agreement dated September 22^nd, 2009. Argonaut has currently issued 50,000 common shares to complete the final share installment for a total of 200,000 shares in payment of the negotiated Hidden Valley (High Gold property) mineral claims option agreement. A $50,000 final cash payment remains to be paid by September 22^nd, 2013 to complete Argonaut's purchase agreement requirements.

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.