Argentex Mining Corporation Announces C$10,005,000 Bought Deal Financing.

Argentex Mining Corporation (TSX-V: ATX, OTCBB: AGXMF) is pleased to announce that it has closed its previously announced �bought-deal� offering of 8,700,000 units (the �Units�) at a price of C$1.15 per Unit (the �Offering Price�), for aggregate gross proceeds of C$10,005,000 (the �Offering�). Each Unit consists of one common share in the capital of the Company (each a �Common Share�) and one-half of one non-transferable common share purchase warrant (each whole common share purchase warrant, a �Warrant�). Each Warrant entitles the holder to purchase one additional Common Share for C$1.60 at any time until 5:00 p.m. (Vancouver time) on August 19, 2013 (the �Expiry Date�).

A copy of the full press release is enclosed for your reference. For further information please contact us at 1-866-594-7687, or via e-mail at info@argentexmining.com.

Sincerely,

Adam Bello
Media & Investor Relations Specialist
Primoris Group Inc.
Tel.: (416) 489-0092 * 1 (866) 594-7687 x 226
Fax: (416) 352-5239
E-mail: abello@primorisgroup.com

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Argentex Mining Corporation Announces C$10,005,000 Bought Deal Financing

Vancouver, BC, Canada � August 19, 2011 - Argentex Mining Corporation ("Argentex" or the "Company") (TSX-V: ATX, OTCBB: AGXMF) is pleased to announce that it has closed its previously announced �bought-deal� offering of 8,700,000 units (the �Units�) at a price of C$1.15 per Unit (the �Offering Price�), for aggregate gross proceeds of C$10,005,000 (the �Offering�). Each Unit consists of one common share in the capital of the Company (each a �Common Share�) and one-half of one non-transferable common share purchase warrant (each whole common share purchase warrant, a �Warrant�). Each Warrant entitles the holder to purchase one additional Common Share for C$1.60 at any time until 5:00 p.m. (Vancouver time) on August 19, 2013 (the �Expiry Date�).

The Units were sold pursuant to an underwriting agreement with a syndicate of underwriters led by GMP Securities L.P. and including Haywood Securities Inc., Byron Capital Markets Ltd and Casimir Capital Ltd. (collectively, the �Underwriters�). Pursuant to the underwriting agreement, Argentex granted to the Underwriters an over-allotment option to purchase up to an additional 1,305,000 Units at the Offering Price and/or up to an additional 652,500 Warrants, or any combination thereof, to cover over-allotments, if any, and for market stabilization purposes. This over-allotment option may be exercised in whole or in part at any time until 5:00 p.m. (Vancouver time) on September 19, 2011. If the over-allotment option is exercised in full for additional Units only, Argentex would raise additional aggregate proceeds of approximately C$1,500,750.

As compensation for their services in connection with the Offering, Argentex has paid to the Underwriters a cash commission equal to six percent of the gross proceeds of the Offering and it has issued to the Underwriters an aggregate number of Broker Warrants equal to six percent of the number of Units sold in the Offering. Each Broker Warrant entitles the holder to purchase one Unit at the Offering Price until the Expiry Date.

The Units were offered by way of a short form prospectus filed in all of the Provinces of Canada, other than Quebec. The Units were not registered under the U.S. Securities Act of 1933, as amended (the �1933 Act�), and no Units were offered or sold in the United States or to any U.S. Persons (as that term is defined in Rule 902 of Regulation S, promulgated under the 1933 Act). The additional securities issuable upon exercise of the over-allotment option have not been registered under the 1933 Act, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements.

The Company plans to use the net proceeds from the Offering to advance the ongoing exploration programs at its exploration properties in the Patagonia region of Argentina, including the Company�s Pinguino property, and for general working capital and corporate purposes.

About Argentex:
Argentex Mining Corporation is an exploration company focused on the discovery of silver, gold and polymetallic deposits on its advanced exploration project portfolio in the Patagonia region of southern Argentina. In total, Argentex owns 100% of the mineral rights to more than 35 properties located within approximately 307,981 acres (124,636 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 OTCBB.

On behalf of Argentex Mining Corporation:

"Ken E. Hicks"
President

For additional information please contact:

Peter A. Ball
Executive Vice President Corporate Development
Phone: 604-568-2496 (ext. 103) or 1-888-227-5285 (ext. 103)
Email: peter@argentexmining.com
www.argentexmining.com

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 those concerning Argentex�s planned use of the net proceeds of the Offering to fund exploration programs at its mineral properties in the Patagonia region of Argentina, for working capital and for general corporate purposes. 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, market factors 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 final short form prospectus filed in connection with the Offering, the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission, which can be found on SEDAR.