Tuesday 27 April 2021

Argos Resources Limited (AIM: ARG.L), the Falkland Islands based exploration company focused on the North Falkland Basin, is pleased to announce that the Falkland Islands Government has extended the second term of the Company's PL001 Licence by twelve months, to 1 May 2022.

The Company has a commitment to drill one exploration well within the licence area by the end of the second term of the licence.

Commenting on the extension, Mr Ian Thomson, OBE, Chairman of Argos, said:

"We are very pleased that the Falkland Islands Government has awarded a licence extension. This reflects the collaborative approach we seek to maintain with the government. Our intention is to secure partners and commence exploration drilling as soon as possible."