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Gold/Mining/Energy : ARP - V Argentina Gold -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (2328)	1/29/1999 11:54:00 AM
From: Gord Bolton	Read Replies (1) \| Respond to of 3282

NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: ARGENTINA GOLD CORP. VSE SYMBOL: ARP JANUARY 29, 1999 Argentina Gold: Hole 105 Extends Southeastern Amable Target; Barrick's Offer Extended to February 9, 1999 VANCOUVER, BRITISH COLUMBIA--Argentina Gold Corp. (the "Company") is pleased to announce results from Hole 105, drilled at the Company's Veladero project in San Juan Argentina. Amable Target - high grade expansion of southeast Amable continues Hole 105, collared 50 metres east of Hole 90, returned 81 metres of 2.3 grams per tonne gold and 17.6 grams per tonne silver including 39 metres of 3.2 grams per tonne gold and 16.9 grams per tonne silver. Similar to Hole 93, this hole encountered mineralization over a long intercept from 120 metres down to its total depth of 300 metres. Results from Hole 105 and its correlation with Holes 103 and 93 expand the mineralized resource area an additional 50 metres eastwards of the previously estimated area. Details of the results from Hole 105 are in the following table. /T/ Hole Total Inter From To Gold Silver Gold Azimuth Angle Coor- Depth -val Equiv. Dinates (x) (m) (m) (m) (m) (g/t) (g/t) (g/t) 105 300 81 160 241 2.27 17.59 2.62 270 -75 2407743 E including 39 178 217 3.18 16.92 3.52 6750445 N Elev: 4330 (x)50 g/t Ag = 1 g/t Au /T/ Drilling continues at the southeastern extension of the Amable target and the western extension of the high-grade zone of Filo Federico. As well, a second hole is underway at the new Amable North target. A second diamond core hole (DDA2) at the Amable target is also in progress. Hole 106 (Amable), collared 60 metres SSE of Hole 103, is complete with assays pending. Hole 107 (Filo Federico), collared 50 metres southwest of Hole 104, is complete with assays pending. Hole 108 (Amable), collared 10 metres east of Hole 80, drilling vertical, is testing potential deep continuity of high grade zones. Hole 109 (Filo Federico), collared 50 metres SSW of Hole 72, is complete with assays pending. Hole 110 (Amable), collared 50 metres east of Hole 92 is underway. Hole 111 (Amable North), collared 50 metres east of Hole 100 is underway and is currently at a depth of 93 metres. DDA2 (Amable) is currently at a depth of 32 metres and is located 15 metres north of Hole 89 (drilling in an easterly direction at an angle of 75 degrees). There are three reverse circulation rigs on site, one at Filo Federico, one at Amable and one at Amable North. One diamond core rig is in operation on the Amable target and a second rig for Filo Federico is being mobilized. Barrick extends $5.00 takeover bid to February 9, 1999 Barrick Gold Corporation announced today that it was extending its C$5.00 offer to acquire all the outstanding common shares of Argentina Gold to 12:01 a.m. (local time) on February 9, 1999. Please visit our website for maps and detailed information on the Veladero project. The website address is www.argentinagold.com Argentina Gold is the operator of the Veladero project holding a 60 percent interest. The Company's partner, Barrick Gold Corp., holds the remaining 40 percent. The drill samples are assayed by CIMM Labs of Chile using top quality control systems and interlab check assays. ON BEHALF OF THE BOARD Lukas H. Lundin, Director NOTE: Location maps available from the company at the number listed below. -30-