Argentex Mining Corporation
TSX VENTURE : ATX
OTC Bulletin Board : AGXM

May 25, 2011 10:06 ET

Argentex Drills 5.76 Meters Grading 675.7 g/t Ag and 5.99 g/t Au Within Oxide Zone at 100% Owned Pinguino Project, Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 25, 2011) - Argentex Mining Corporation (TSX VENTURE:ATX)(OTCBB:AGXM) is pleased to release additional drill results from its 2011 exploration program, and to announce the expansion of that drill program. The Company's original plans for 2011 called for approximately 17,000 meters of drilling at its 100% owned Pinguino Project, in Santa Cruz, Argentina but positive results to date coupled with the receipt of additional funds from the exercise of approximately $1.6 million worth of share purchase warrants since January, 2011 have enabled the Company to expand the drill program to include up to an additional 2,500 meters of drilling.

Argentex has now completed 18,673 meters of drilling to-date in the 2011 program with a total of 201 holes. Results below are from the most recent 16 holes from the Marta Este, Marta Sur and Marta Centro veins:

Drill HoleFrom
(m)
To
(m)
Interval
(m)*
Gold
(g/t)
Silver
g/t
Marta Este vein
P369-1127.7789.5661.790.9488.8
including82.8088.565.765.99675.7
P370-1194.10149.4055.300.1011.3
including94.1097.103.000.4663.7
and including132.60135.052.450.3335.8
and including147.00149.402.400.6061.8
Marta Sur vein
P371-1137.2055.0017.801.1438.8
including37.2038.801.606.0310.5
and including49.4052.903.502.4658.5
P372-1143.3049.005.700.0222.2
Marta Centro vein
PR091-1110.0039.0029.001.3392.9
including12.0021.009.003.83271.3
PR092-1111.0050.0039.000.3441.4
including11.0022.0011.001.03112.7
PR098-119.0016.007.000.2616.1
PR100-1112.0019.007.000.0723.7
PR101-112.0021.0019.000.5217.4
including14.0015.001.006.35126.0
PR103-112.0026.0024.000.4147.9
including12.0013.001.003.21322.0
PR104-115.0023.0018.000.1629.4
including18.0019.001.000.95111.0
P375-11307.40322.4015.000.5134.1
including315.00317.402.402.74101.4
P376-11282.40304.2621.860.0516.1
including297.70303.125.420.1236.6
P377-1124.1586.8062.650.1321.4
including24.1536.8012.650.3363.0
and including30.0033.003.000.72138.0
P386-1163.4577.4514.000.0819.8
including75.4577.452.000.3960.7
P387-1188.60120.7532.150.0713.8
including119.55120.751.200.1656.2
*True widths are estimated to be 85-90% of the stated interval
"P" represents core holes, "PR" represents RC holes

"The discovery of high-grade silver and gold values within the near-surface oxide zone in the upper portions of mineralized veins, which we previously thought of as only primarily polymetallic mineralization, has opened up the precious metal potential of the entire property," commented Ken Hicks, President of Argentex. "We continue to expand this core of high grade mineralization. In many cases, this high grade mineralization is surrounded by a larger envelope of plus 1 gram gold-equivalent mineralization, which is also very promising. For these reasons, we have expanded our original drilling program to continue to test these zones further along strike and to depth."

Results

The table above displays selected analytical results from a total of 16 reverse circulation and core holes; 2 holes from Marta Este, 2 holes from Marta Sur and 12 holes from Marta Centro. A map of drill hole collars is available on our web site at www.argentexmining.com.

In addition, between May 20 and May 24, 2011 one of the Company's investors exercised share purchase warrants pursuant to which it purchased 500,000 of the Company's common shares at an exercise price of $0.15 share for aggregate gross proceeds of $75,000 and two of its investors exercised share purchase warrants pursuant to which they purchased an aggregate of 70,000 of the Company's common shares at an exercise price of CDN$0.90 share for aggregate gross proceeds of approximately $64,400 (CDN$63,000).

About Pinguino

Argentex's Pinguino property is located in Argentina's Patagonia region, within the Deseado Massif of Santa Cruz province. Argentex believes that recent high-grade silver discoveries within newly tested structures of the district scale vein system at Pinguino show potential for the development of a significant silver resource.

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.

Quality Assurance

Samples selected for analysis are sent to Acme Analytical Laboratories' sample preparation lab in Mendoza, Argentina. From there, sample pulps are sent to Santiago, Chile for fire assay gold analysis and to Vancouver, Canada for Group 1DX multi-element MS-ICP analysis. Samples with over-limit zinc, lead, silver and/or copper are reanalyzed using an ore-grade high detection limit 7AR analysis, also conducted in Vancouver. Acme Analytical Laboratories is an accredited ISO 9000:2001 full-service commercial laboratory with its head office in Vancouver. Referee analyses will be carried out by Alex Stewart (assayers) Argentina S.A. in Mendoza, Argentina. Argentex, Acme and Alex Stewart all maintain comprehensive and independent Quality Control/Quality Assurance programs.

Exploration on the Pinguino property is being conducted under the supervision of Mr. Kenneth Hicks, P.Geo. Argentex's President and a "Qualified Person" (QP) as defined by Canada's National Instrument 43-101.

About Argentex:

Argentex Mining Corporation is an exploration company focused on the discovery of silver, gold and polymetallic deposits on its advanced late-stage exploration projects in the Patagonia region of southern Argentina.

In 2011, Argentex is currently advancing its highly prospective projects in Santa Cruz province, focusing primarily on its 100%-controlled Pinguino project. An early 2011 drill program of approximately 17,000 meters began at Pinguino, where Argentex proposed to drill test the extents of previously identified high-grade silver targets discovered in 2010. More than 11,200 of RC drilling and 7473 meters of core drilling have been completed in 2011. More than 50,000 meters of drilling has been completed on the project to date.

Argentex's 10,000-hectare Pinguino property is located in Argentina's Patagonia region, within the Deseado Massif of Santa Cruz province. Pinguino 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.

In total, Argentex owns 100% of the mineral rights to more than 35 projects located within approximately 307,981 acres (124,636 hectares) of highly prospective land located in the Santa Cruz and Rio Negro provinces of Argentina. Shares of Argentex common stock trade under the symbol ATX on the TSX Venture Exchange and on the OTCBB under the symbol AGXM.

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 statements about the company's belief that the discovery of high-grade silver and gold values within the near-surface oxide zone in the upper portions of mineralized veins has opened up the precious metal potential of the entire property, the ability to expand this core of high grade mineralization and surrounding larger envelope of plus 1 gram gold-equivalent mineralization and its belief that recent high-grade silver discoveries within newly tested structures of the district scale vein system at Pinguino show potential for the development of a significant silver resource. 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, competition for qualified personnel and risks that are inherent in Argentex's operations including the risk that the Company may not find any minerals in commercially feasible quantity or raise funds sufficient to prosecute its exploration plans. These and other risks are described in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.

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.

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