Argentina Gold announces results at Veladero Project, San Juan, Argentina, and Huasapampa Project, Cordoba, Argentina.

VANCOUVER, BC--(BUSINESS WIRE)--SEPTEMBER 7, 1995--ARGENTINA GOLD CORP. (VSE: ARP) ARGENTINA GOLD CORP. (the "Company") reports that all assay results have been received from the sampling program from the Veladero Project, in the Province of San Juan, Argentina. The Company is the operator and 60 percent owner of the joint venture with Barrick Exploraciones Argentinas S.A. The property is less than 12 km from the Nevada Project in Chile.

An area of 750 by 140 metres has been identified in volcanic breccias which is mineralized with gold. 111 rock samples collected from the area returned a weighted average grade of 1.35 g/tonne Au, excluding silver equivalents. A program of in-fill sampling, trenching and geophysics followed by drilling will commence in early October. Three other targets have been identified in the Veladero region where exploration will continue during the Andean summer of 1995-1996.

At the Huasapampa Project, the Company reports that favourable results have been obtained from completion of Phase I of the program to evaluate the La Bismutina claims, located in the Province of Cordoba. The La Bismutina claims cover an area of approximately 5 km2 in an area that, in the past, has been subjected to small scale mining operations for bismuth and tungsten. The Company is currently evaluating the property for copper and gold potential. The geology of the area is characterized by metamorphic basement rocks intruded by granitic plutons with vein deposits of tungsten and widespread hydrothermal alterations consisting of quartz-sericite, pyrite, hematite and silicification. As part of the Phase I program, the Company completed a preliminary geophysical survey in conjunction with geologic mapping and sampling. An induced polarization survey conducted over the project area has identified an anomaly with minimum dimensions of 600 by 300 metres. Preliminary geochemical analysis of 250 surface rock-chip samples has resulted in an overall average copper content in various altered rock types of 0.2 percent copper with a positive relation to geochemically anomalous gold values ranging up to 0.230 grams per tonne. Phase II will be initiated immediately with follow-up detailed surveying, sampling and mapping with the objective of defining the economic potential for bulk tonnage, open pit copper-gold mineralization.

Also at the Huasapampa Project, the Company has completed a program of ground magnetics and induced polarization and resistivity surveying covering an area 2.5 km long and 1.0 km wide on the Guasapampa claims. This area has produced anomalous values at the surface as high as 19 g/tonne Au. Results of the geophysical survey have identified an induced polarization anomaly 1,000 metres long and 100 metres wide, which may be related to gold bearing structures or gold bearing sulfide mineralization at depth. Coincident surface geochemical samples range up to 4.0 g/tonne Au over this anomaly. These targets are currently being analyzed and compared with the results of geochemical surveying with the aim of designing a program of testing by drilling and/or trenching. -0- ON BEHALF OF THE BOARD Signed: "J. Patricio Jones" President -0- Note: Location maps are available from the company at phone number listed above.

CONTACT: William V. Williams, Corporate Development

Telephone: [phone] REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or

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