Argentina Gold: Drilling Commences at Amable SE Target, Veladero.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 25, 1998-- Argentina Gold Corp. (VSE:ARP.) (the "Company") is pleased to announce the start of the 1998/1999 drilling program at the Company's Veladero project in San Juan, Argentina.

The first hole, Hole V98-79, located approximately 110 meters NNE of Hole V98-76 at the Amable target, is directed to test the geophysical, geochemical and geological anomaly first tested by Hole 76 in the previous season. Hole 76 returned 193 meters of 1.49 g/t gold and 55.09 g/t silver.

So far, at a depth of 67 meters, Hole 79 has shown a similar geology to that of Hole 76. From 30 meters down, a strongly silicified breccia with several types of veinlets of silica is being logged.

The drill program at Amable comprises several holes (approximately 6,000 meters) at an initial spacing of approximately 100 meters north and south of discovery hole 76. The Amable geophysical/geochemical anomaly is of elliptical shape measuring some 800 meters (N-S) by 300 meters (E-W).

Last season's results from the Amable target were not included in the Filo Federico target resource estimate provided by independent consulting engineers. Resource estimates are currently at 2.4 million ounces of gold and 75 million ounces of silver. Less than 20 percent of the Veladero project area has been explored to date.

In addition, a 2,000 meter diamond drilling program is planned for the Filo Federico target to further delineate higher grade zones encountered last season and to check for possible losses in fines. The Filo Federico resource area is open in all directions with potential extensions to the southeast, south and southwest onto the Amable target.

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.

ON BEHALF OF THE BOARD J. Patricio Jones, President