retirement of md

The Directors of Argonaut Resources NL (ASX:ARE) advise that the Companys Managing Director and
Company Secretary, Mr Graeme Ellis has advised that he is retiring, effective 31 December 2009.
The Directors have appointed Mr Andrew Bursill as Company Secretary, acting General Manager and
Chief Financial Officer on a consulting basis.
The process to recruit a new Managing Director is underway.
Mr Lindsay Owler continues in his role as Exploration Director.

The Directors express appreciation for Mr Ellis efforts on behalf of the Company over 23 years and wish
him well in his retirement


GOOD RIDDANCE I SAY....Mr do nothing man take your Package after milking the company for 23 years & go retire to Laos...or put your money into the pokies like your former employees...hopefully the other directors will be more pro-active as stated here..."The Directors advise that they will be undertaking a review of the Companys resource investment
strategy over the next quarter."
All the best Graeme.