Announces Incentive Stock Options

CALGARY, ALBERTA--(Marketwire - Jan. 18, 2013) - Argonaut Exploration Inc. (News - Market indicators) (the "Company" or "Argonaut") announces that, in accordance with the Company's stock option plan, it has granted to its directors, employees and consultants incentive stock options to purchase up to an aggregate of 990,000 common shares exercisable on or before July 15, 2015 at a price of $0.10 per common share.

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, is 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 Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.