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Appendix A

30 June 2016

PRESENTATION TO INVESTORS - APPENDIX A

Further to the 29 June 2016 Presentation to Investors, Argent Minerals Limited (ASX: ARD, Argent Minerals) is pleased to provide Appendix A for details of the Kempfield Mineral resource estimate referred to on pages 4 and 7 of the presentation.

Appendix A should be read in conjunction with, and forms an addendum to, the 29 June 2016 announcement.

For further information please contact:

David Busch Managing Director

Argent Minerals Limited

M: 0415 613 800

E: [email protected]

Argent Minerals Limited ABN 89 124 780 276

Phone +61 2 9262 2211 Facsimile +61 2 9475 5346 www.argentminerals.com.au

KEMPFIELD JORC 2012 RESOURCE STATEMENT SUMMARY

Table 1.0 is a summary of the Kempfield mineral resource estimate announced on 6 May, 2014, and as reported in the Mineral Resources and Ore Reserves Statement in the 30 June 2015 Annual Report. Table 2.0 shows the Resource tonnes and grades by Measured, Indicated and Inferred categories, whilst Table 3.0 provides details of tonnes and contained metal in the Measured and Indicated categories.

At cutoff grades 25 g/t Ag (Oxide/Transitional) and for 50 g/t Ag equivalent1 (Primary):

Table 1.0 - Kempfield Resource Summary

Silver (Ag)

Gold (Au)

Lead (Pb)

Zinc (Zn)

In-situ Contained Ag Equivalent2

Oxide/

Resource Tonnes (Mt)

Grade (g/t)

Contained Metal (Moz)

Grade (g/t)

Contained Metal (000 oz)

Grade (%)

Contained Metal (000 t)

Grade (%)

Contained Metal (000 t)

Grade (Ag Eq g/t)

Contained Ag Eq (Moz)

Transitional* 6.0 55 10.7 0.11 21 N/A N/A N/A N/A - 11.7

Primary** 15.8 44 22.3 0.13 66 0.62 97 1.3 200 - 40.5

TOTAL*** 21.8 47 33.0 M 0.12 86 N/A 97 N/A 200 75 52 M

* 90% ** 79% *** 82%: Percentage of Resource tonnes in Measured or Indicated Category. See Table 3.0 for details.

Note 1 - 50 g/t Silver Equivalent Cutoff Grade

This Resource is only reported in Resource tonnes and contained metal (ounces of silver and gold, and tonnes for lead and zinc). The Resource estimation for the Primary material was based on a silver equivalent cutoff grade of 50 g/t.

A silver equivalent was not employed for the oxide/transitional material estimation and was based on a 25 g/t silver only cutoff grade. The contained metal equivalence formula is based on the following assumptions made by Argent:

Silver price: $US 30/oz ($US 0.9645/g)

Gold price: $US 1,500/oz

Lead & zinc price: $US 2,200/tonne Silver and gold recoverable and payable: 80% of head grade Lead & zinc recoverable & payable: 55% of head grade

Based on metallurgical testing to date, Argent Minerals is of the opinion that recoverable and payable silver and gold of 80% is achievable, and recoverable and payable lead and zinc at 55% of the head grade. Argent Minerals is also of the opinion that this is consistent with current industry practice. These metallurgical recoveries were included in the calculation of silver equivalent cutoff grades used for reporting of mineral resources. Please note that Ag Eq is reported as in-situ contained ounces and grade i.e. not recoverable & payable

ounces and grade, and in accordance with the JORC Code 2012 Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves. 1

Table 2.0 - Resource by Category

Grade (g/t) Grade (%) In-situ Grade (Contained Ag Eq g/t)

Category	Resource Tonnes (Mt)	Silver (Ag)	Gold (Au)	Lead (Pb)	Zinc (Zn)	Silver Equivalent (Ag Eq)
Oxide/Transitional
Measured	2.7	68	0.11	-	-	73
Indicated	2.7	47	0.11	-	-	52
Inferred	0.6	39	0.08	-	-	43
Total Oxide/Transitional	6.0	55	0.11	-	-	60
Primary
Measured	4.1	57	0.12	0.66%	1.2%	93
Indicated	8.4	41	0.13	0.58%	1.2%	76
Inferred	3.2	35	0.13	0.66%	1.4%	74
Total Primary	15.8	44	0.13	0.62%	1.3%	80
Total Resource	21.8	47	0.12	N/A	N/A	75

Note 2 - Contained Silver Equivalent ('Ag Eq') Calculation Details

1. A revenue figure was calculated for each metal by category and material class (r) as follows: r = tonnes * head grade * recoverable and payable %.

   Eg. For Measured Oxide/Transitional silver: r = 2.7Mt * 68 g/t * 80% / 31.1 g/oz * $US 30/oz = $US 142M. Eg. For Measured Primary Zinc: r = 4.1Mt * 1.2% * 55% *$US 2,200/t = $US 59.5M.

2. Total revenue R was calculated for each resource category and material class as the sum of all the individual (r) revenues for that category and class.

3. Contained silver metal equivalent ounces was then calculated as follows:

   Ag Eq (oz) = R / Ag recoverable and payable % / Ag price = R / 80% /$US 30.

4. Contained silver metal grade was calculated as follows: Grade (Contained Ag Eq g/t) = Ag Eq (oz) * 31.1 / tonnes.

Table 3.0 - Kempfield Resource tonnes and contained metal in Measured and Indicated categories

Contained Metal

Resource Tonnes (Mt)	Moz Silver (Ag)	000 oz Gold (Au)	000 t Lead (Pb)	000 t Zinc (Zn)	In-situ Moz Silver Equivalent (Ag Eq)
Oxide/Transitional
Measured	2.7	5.8	9.3	-	-	6.3
Indicated	2.7	4.1	9.9	-	-	4.6
Measured + Indicated	5.4	10	19	-	-	11
As % of Total Oxide/Transitional	90%	93%	93%	-	-	93%
Primary
Measured	4.1	7.5	16	27	51	12
Indicated	8.4	11	36	49	103	21
Measured + Indicated	13	19	51	76	154	33
As % of Total Primary	79%	83%	79%	78%	77%	81%
Oxide/Transitional + Primary
Measured	6.8	13	25	27	51	19
Indicated	11	15	46	49	103	25
Total Measured + Indicated	18	28	71	76	154	44
As % of Total Resource	82%	86%	82%	78%	77%	84%

Note 3 - Rounding and Significant Figures

Figures in the tables in this Appendix may not sum precisely due to rounding; the number of significant figures does not imply an added level of precision.

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