Argo Gold Announces May 2026 Oil Output of 2,514 Barrels with Average Price of CAD$109 per Barrel

May 2026 Oil Production and Pricing Overview

During May 2026, Argo Gold’s oil operations generated a total of 2,514 barrels, equating to an average daily production of 81 barrels across its oil-producing portfolio. This update provides investors with detailed operational data to evaluate production volumes relative to the company’s working interests in each asset.

The average oil price for May 2026 stood at CAD$109 per barrel, significantly impacting the company’s financial outcomes. Combining production volumes with this pricing, Argo Gold reported total oil revenue of $274,334 for the month. By disclosing both production and pricing figures, the company ensures transparency about the economic environment influencing its operations during this period.

Financial Performance: Revenue and Cash Flow from Oil Assets

Argo Gold’s oil operations generated gross revenue of $274,334 in May 2026, reflecting combined output from its five producing properties before deducting operational expenses. This figure highlights the revenue-generating strength of the company’s oil portfolio amid May’s market conditions.

Net operating cash flow for the month was $180,870, representing cash retained after covering direct operating costs related to oil production. The difference between total revenue and net cash flow indicates operational expenses incurred to produce and deliver the oil. This cash flow metric is crucial for investors assessing the company’s capacity to sustain operations and generate positive cash returns from its oil assets.

Production and Financial Contribution from Lindbergh 1

The Lindbergh 1 property, where Argo Gold holds a 37.5% working interest, was a significant contributor in May 2026. The asset produced 37 barrels per day gross, with the company’s share totaling 14 barrels per day. Lindbergh 1 generated $43,888 in oil revenue and $22,749 in net operating cash flow for the month.

As part of Argo Gold’s broader portfolio, Lindbergh 1’s 37.5% working interest means the company receives a proportional share of revenues and expenses. These financial figures demonstrate the asset’s role in the company’s overall May 2026 performance.

Contributions from Lloyd 1 and Lloyd 2 Properties

Argo Gold’s two Lloyd properties also contributed to May production. Lloyd 1, with an 18.75% working interest, had gross production of 71 barrels per day, translating to 13 barrels per day for the company. It generated $45,225 in oil revenue and $24,513 in net operating cash flow during May.

Lloyd 2 was the largest single-property contributor, with a 23.077% working interest. It produced 132 barrels per day gross, equating to 30 barrels per day for Argo Gold. Lloyd 2 delivered the highest monthly revenue and cash flow among all assets, contributing $102,978 in oil revenue and $81,475 in net operating cash flow. Combined, the Lloyd properties accounted for 43 barrels per day of the company’s total 81 barrels per day production in May 2026.

Operational Results from Lindbergh 2 and Lindbergh 3

Lindbergh 2, also with a 37.5% working interest, produced 37 barrels per day gross in May 2026, with Argo Gold’s share at 14 barrels per day. The property generated $50,237 in oil revenue and $32,251 in net operating cash flow, reflecting solid operational performance.

Lindbergh 3, where the company holds an 18.75% working interest, produced 51 barrels per day gross, with a company share of 10 barrels per day. It contributed $32,005 in oil revenue and $19,882 in net operating cash flow for May 2026. Collectively, the Lindbergh properties (1, 2, and 3) accounted for 38 barrels per day of Argo Gold’s May production, representing the largest combined output across the portfolio.

Portfolio Structure and Working Interest Breakdown

Argo Gold’s oil production portfolio consists of five properties with working interests ranging from 18.75% to 37.5%, including a 23.077% interest in Lloyd 2. This diversified portfolio approach means each asset contributes differently to the company’s overall production and financial results.

Variations in working interests affect the company’s proportional share of production, revenue, and cash flow. For example, a property producing 132 barrels per day at 23.077% interest yields a smaller company share than a property with similar output but a higher interest percentage. Understanding this structure is key for investors evaluating Argo Gold’s operational scale and net financial benefits.

Company Profile and Exchange Listings

Argo Gold Inc. is a Canadian mineral exploration and development company with active oil production operations. It is listed on the Canadian Securities Exchange under ticker ARQ, OTC Pink Markets as ARBTF, and on German exchanges (XFRA, XSTU, and XBER) under A2ASDS. This multi-market presence enhances accessibility for a diverse investor base.

The company’s dual focus on mineral exploration and oil production positions it within a diversified resource sector. Investors can find additional information on Argo Gold via SEDAR+ at www.sedarplus.ca, the company’s official website at www.argogold.com, and the Canadian Securities Exchange website at www.thecse.com.

Commitment to Transparent Monthly Reporting

Argo Gold’s detailed disclosure of May 2026 production and financial results highlights its commitment to operational transparency. The company provides property-level breakdowns of gross production, proportional shares, oil revenues, and net operating cash flows, enabling investors to assess both overall and asset-specific performance.

Regular monthly reporting supports investors in tracking production consistency, operational costs, and cash flow trends over time. The May 2026 report, released in July 2026, offers a retrospective view of recent performance, aiding informed analysis of Argo Gold’s operational trajectory and financial health.