Argentex Mining Corporation

Argentex Mining Corporation

November 04, 2013 09:15 ET

Argentex Completes 2013 Resource Development Drilling Program at Pinguino

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 4, 2013) - Argentex Mining Corporation ("Argentex" or the "Company") (TSX VENTURE:ATX)(OTCQB:AGXMF) is pleased to announce the completion of its 2013 resource development drilling program (Phase IX) at its 100% owned Pingüino silver and gold project located in Santa Cruz Province, Argentina. The 3,003-metre drill program, which was undertaken from September 12, 2013 to October 26, 2013, was comprised of 58 holes of reverse circulation drilling targeting oxide material in previously discovered high priority veins, which is not included in the current resource model. Additionally, approximately 7,700 metres of trenching is being finalised to test continuity to surface of mineralisation.

"The program was completed on schedule and on budget. Upon receipt of the new drill results, our plan is to update the mineral resource estimate at Pingüino with a goal of increasing the inventory of near surface oxide material," commented Michael Brown, President and CEO of Argentex. "We continue to review internal engineering studies to determine the next stage of development of the project."

About Pingüino

Argentex's 10,000-hectare advanced silver and gold exploration Pingüino project is located in Argentina's Patagonia region, within the Deseado Massif of Santa Cruz province. The Deseado Massif is an active region of mining with four precious metal mines currently in production, and includes multiple active advanced and early stage exploration projects.

The Pingüino system has grown to 70+ individual veins, with a combined strike length approaching ~113 line-kilometers. The Pingüino project is unique within the Deseado Massif region of Santa Cruz province in that it contains two different and spatially distinct types of mineralisation; a precious metal intermediate sulphidation epithermal system and a polymetallic sulphide-rich system.

Pingüino is easily accessible, situated approximately 400 meters above sea level in low-relief topography. An existing system of all-weather roads provides year-round access to the property.

Technical content of this press release has been reviewed and approved by Michael Brown, MAIG, the President and CEO of Argentex Mining Corporation, and a Qualified Person as defined by National Instrument 43-101.

About Argentex

Argentex Mining Corporation is an exploration company focused on developing its advanced Pingüino silver-gold project located in Santa Cruz, Patagonia, Argentina. In total, Argentex owns 100% of 100,000+ hectares of highly prospective land located in the Santa Cruz and Rio Negro provinces. Shares of Argentex common stock trade under the symbol ATX on the TSX Venture Exchange and under the symbol AGXMF on the OTCQB.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

On behalf of Argentex Mining Corporation:

Michael Brown

President and CEO

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements in this news release include our plan is to update the mineral resource estimate at Pingüino with a goal of increasing the inventory of near surface oxide material. Actual results may differ materially from those currently anticipated due to a number of factors beyond the Company's control. These risks and uncertainties include, among other things, management's assumptions about the availability of the necessary consultants and capital and the risks inherent in Argentex's operations, including the risks that the Company may not find any minerals in commercially feasible quantity or raise enough money to fund its exploration plans. These and other risks are described in the Company's Annual Information Form and other public disclosure documents filed on the SEDAR website maintained by the Canadian Securities Administrators and the EDGAR website maintained by the Securities and Exchange Commission.

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