Argentex makes final
option payment on Pinguino to secure 100% ownership
Vancouver, B.C., June 26,
2008 -- Argentex Mining Corporation (TSX-V: ATX,
OTCBB: AGXM) is pleased to announce that it has made the final option payment
on its silver-zinc-lead-indium-gold Pinguino property
to earn 100% interest, subject to a 2% net smelter return.
?Completing
the final option payment to earn our 100% interest in Pinguino
was a significant milestone for the company,? said Ken
Hicks, President of Argentex. ?Pinguino is well situated in the
mining friendly province of Santa Cruz,
within the productive Deseado Massif region, at an
elevation of only 400
meters above sea level (1,312 feet) and with
excellent access and infrastructure. Argentex
plans to capitalize on these advantages and use our exploration expertise to
continue to advance the property towards production.?
The significant silver-zinc-lead-indium-gold discovery
at Pinguino in 2006 marked a major exploration
milestone for Argentex. This was the first
discovery of its kind in the region, unique with both silver-gold and
indium-enriched base-metal mineralization in multiple zones that remain
open-ended along strike and to depth.
Since 2006, exploration of Pinguino?s
base-metal-rich targets has expanded beyond discoveries at the Marta Centro and
Yvonne zones and now totals eight mineralized veins, including the Yvonne Sur,
Yvonne Norte, Sonia, Kasia,
Savary and Luna veins. The veins are contained
in an area measuring approximately 8.0 square kilometers
(3.0 square miles).
ABOUT ARGENTEX:
Argentex Mining Corporation is a junior mining exploration company with
significant holdings in the Patagonia region of Argentina.
It holds 100% mineral rights to the polymetallic Pinguino property and more than 30 additional properties,
covering a total of 377,490+ acres (152,766+ hectares) of prospective land in Santa Cruz and Rio Negro, Argentina.
Shares of Argentex common stock trade under the
symbol AGXM on the OTCBB and, beginning July 28, 2008, will trade on the TSX
Venture Exchange under the symbol ATX.
FURTHER
INFORMATION:
Ken Hicks, President
Argentex
Mining Corporation
1-866-594-7687
info@argentexmining.com
The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this news release.
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 are based on current facts and analysis and on forecasts of future
results, estimates of amounts not yet determined and
assumptions of management. Forward-looking statements in this news
release include statements about the Company?s belief that to capitalize on these
advantages and use our exploration expertise to continue to advance the
property towards production. 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 the Company?s operations including the
risk that the Company may not find any minerals in commercially feasible
quantity. 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.