Argonaut Resources NL (ASX: ARE) (Argonaut or the Company) is pleased to announce that the South Australian Government has approved an Exploration Program for Environment Protection and Rehabilitation (E-PEPR) for the Murdie project in South Australia.

Highlights

The South Australian Government has approved an application to conduct ground gravity surveys and deep exploration drilling at the Murdie Project.

Drilling will target some of the most compelling copper exploration targets in Australia.

This is the second of three approvals required to undertake a major drilling program targeting Iron Oxide Copper-Gold (IOCG) deposits at Murdie.

The final approval is expected in April 2020.

Argonaut CEO, Lindsay Owler, said: 'The approval of our environmental and operational plan is major step towards the discovery of copper by Argonaut in the Eastern Gawler Craton. The project includes numerous large gravity targets that are analogous to BHP's nearby Oak Dam discovery. The discovery rate from gravity anomalies in this area is so high that none should go undrilled.'

Contact:

Tel: +61 8 8231 0381

Email: adelaide@argonautresources.com

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