Argentex Continues To Expand At Pinguino Project 

VANCOUVER, BC - Argentex Mining Corporation reported additional drill results from its recently completed 2011 exploration program at the Pinguino project, located in the Santa Cruz province of Argentina. The program consisted of 19,800 meters of drilling in 206 holes. To date, the Company has released 6,015 meters of drilling results from 67 of these holes.

Positive analytical results from additional drilling on the regional scale Tranquilo fault continue to expand the near surface silver-enriched mineralized zones. These new results reflect large mineralized intervals enveloping high-grade silver values in the center of the Tranquilo fault system. The Tranquilo is a major regional fault that transects the Pinguino property and is believed to be the strategic geological controlling structure in the region.

"Tranquilo is one of the largest silver-gold mineralized structures on the Pinguino property. RC drilling during 2010 and 2011 has focused on near surface mineralization and continues to identify excellent high-grade silver intersections," said Ken Hicks, President. "We believe these results have significantly expanded the Pinguino resource and we look forward to receiving an updated NI 43-101 compliant resource estimate before the end of 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 was increased to 19,800 meters due to positive results, and was comprised of 11,200 meters of RC drilling and 8,600 meters of core drilling. In total, 56,000 meters have been drilled 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. 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. 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. 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. 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 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.