Argyle Resources Corp. announced a non-brokered private placement of up to 3,571,429 non flow-through units at a price of CAD 0.35 per unit for the gross proceeds of CAD 1,250,000 and up to 2,500,000 flow-through units of the company at a price of CAD 0.40 per unit for the gross proceeds of CAD 1,000,000 for the total gross proceeds of CAD 2,250,000 on May 30, 2024. Each non flow-through unit shall consist of one common share in the capital of the company and one share purchase warrant, with each warrant entitling the holder thereof to purchase a share at an exercise price of CAD 0.45 for a period of 24 months from the date of issuance.

Each FT unit shall consist of one common share in the capital of the company and one share purchase warrant, with each FT Warrant entitling the holder thereof to purchase a share at an exercise price of CAD 0.50 for a period of 24 months from the date of issuance. Closing of the private placement offerings is anticipated to occur in one or more tranches, and by on or about June 14, 2024. Closing is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals.

All securities to be issued under the private placement offerings will be subject to a statutory hold period of four months and one day from the closing date of the private placement offering.