Argentex
Mining shares begin trading on the TSX Venture Exchange under the symbol ?ATX?
Vancouver, B.C., July 28, 2008 -- Argentex
Mining Corporation (TSX-V: ATX, OTCBB: AGXM) is pleased to announce that
effective today, Monday, July 28, 2008, its common shares will begin trading on
Canada?s TSX Venture Exchange (TSX-V) in addition to
the company?s existing listings in the U.S. and
Germany. The company?s
shares will trade on the TSX-V under the symbol ?ATX.?
In 2004 Argentex acquired a
large package of prospective exploration properties in the Patagonia region of Argentina.
The Pinguino property quickly became the focus of the
company?s exploration
efforts, which in early 2006 culminated in the discovery of a significant new polymetallic and precious metal occurrence. Since
that initial discovery, numerous additional vein systems have been discovered,
covering more than 60 kilometers (37 miles) in total strike length, using
detailed geological mapping, soil geochemistry, magnetometry and IP geophysics. Diamond drill
testing has been successfully carried out on more than eight major Pinguino veins identified to date, returning excellent
intersections of mineralization.
?Argentex has made a significant new mineral discovery in the Patagonia region of
Argentina.
The impressive extent of mineralization at Pinguino
together with the indium-enriched zinc-silver-lead chemistry make it a unique
discovery in the region,? said
Ken Hicks, President of Argentex. ?Indium is a
high-value strategic metal used in flat-panel LCD-plasma displays and
leading-edge solar cell technology and markets for both applications continue
to grow at impressive rates. Our discovery at Pinguino
continues to attract the interest of numerous major mining and smelting
companies. We intend to continue expanding our exploration activities and
advancing our engineering studies at Pinguino, a
flagship project where we see great future potential.?
Drilling at Pinguino has so far
tested only a small portion of near-surface and deeper subsurface
targets. Mineralization has been discovered in exposed surface trenches
and drilled to a depth of 250 meters (820 feet) below surface. Results
showed no change in the strength of sulphide
composition with depth and the mineralizing system remains open at depth and
along strike. Argentex has so far completed
more than 20,000 meters (65,617 feet) of targeted diamond drilling during its
2007-2008 exploration season, for a total of more than 30,000 meters (98,425
feet) to date.
Pinguino displays two distinct styles of mineralization. The first is a
northwest-trending structurally controlled epithermal precious metal vein
system, with a low sulphide content and enriched in
silver and gold. Pinguino also shows a second,
distinct high-sulphide style, occasionally massive in
sections and containing a suite of higher-temperature elements including tin
and tungsten. Typically, massive sulphide
mineralization is surrounded by a wide zone of disseminated sulphides.
The host tuffs and continental sediments are some of the oldest and deepest
rocks exposed in the Deseado Massif.
Within the last 12 months, Argentex
has completed two rounds of financing to raise aggregate gross proceeds in
excess of five million dollars. The company has used the net proceeds of
these financings to advance exploration at Pinguino, to fund exploration of other Santa
Cruz mineral properties and for general corporate
purposes.
About Pinguino
Argentex?s Pinguino
property is located in Argentina?s
Patagonia region, within the Deseado Massif of Santa
Cruz province. The zinc-silver-indium-lead-gold-copper
discovery at Pinguino in 2006 marked a major
exploration milestone for the company. This was the first discovery of
its kind in the region, unique in that it contains both silver-gold and
indium-enriched base-metal mineralization. Since 2006, exploration of
base-metal-rich targets has expanded to encompass more than eight
mineralized zones, including Marta Centro, Yvonne, Yvonne Sur, Yvonne
Norte, Sonia, Kasia, Savary
and Luna veins, within an area of approximately 8.0 square kilometers (3.0
square miles).
Indium, a significant component of Argentex?s polymetallic discovery
at Pinguino, is a high-value metal used in flat-panel
(LCD, plasma) displays and in leading-edge thin-film solar cell technology.
Pinguino is easily accessible, situated approximately 400 meters (1,312 feet)
above sea level in low-relief topography. An existing system of
all-weather roads provides year-round access to the property.
ABOUT
ARGENTEX:
Argentex Mining Corporation is a junior mining exploration
company with significant holdings in the Patagonia region of Argentina.
It owns 100% of the mineral rights to the Pinguino
property and 100% mineral rights to more than 30 other mineral properties with
over 377,490 acres (152,766 hectares) in the Santa Cruz
and Rio Negro provinces of Argentina.
Shares of Argentex common stock trade under the
symbol AGXM on the OTCBB and, beginning July 28, 2008, trade on the TSX Venture
Exchange under the symbol ATX.
Exploration on the Pinguino
property is conducted under the supervision of Mr. Kenneth Hicks, P.Geo., Argentex's President, a
"qualified person" as defined by Canada?s NI 43-101.
Mr. Hicks has read and approved the contents of this release.
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 Pinguino is a flagship project with great future potential.
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. 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.