Toronto, ON, April 4, 2006 -- Argentex Mining Corporation (OTCBB: AGXM) is pleased to provide an update and overview on recent corporate activities.

Phase Two Exploration Advances in Santa Cruz Province

Surface exploration at Pinguino, which continued through February 2006, included the first comprehensive geological mapping program carried out on the property.  This detailed examination was conducted within the core of the Pinguino mineralized system and discovered several new epithermal veins, vein stockworks and vein breccias.

Reconnaissance prospecting and sampling was also carried out on several other Argentex properties in Santa Cruz.  Argentex expects to be in a position to announce results from its 24,092-acre (9,750-hectare) Cerro Contrera property and its 7,290-acre (2,950-hectare) Nuevo Oro 2 property in the coming weeks. Both properties are underlain by prospective Jurassic Chon Aike volcanic stratigraphy.

Completes $1-million Financing

Argentex has completed a financing for gross proceeds of $1 million.  The funds raised will be used for continued exploration on the company’s Argentine projects and initiating the 2006 drill program scheduled for Pinguino, Santa Cruz, working capital requirements and repayment of outstanding debt.  Using the Pinguino property as a base of operations, Argentex will conduct follow-up exploration on surrounding company land and other properties in Santa Cruz as part of its continuing commitment toward new discoveries in this prospective terrain.

Expands Management Team

Argentex continued to strengthen its management team with the appointment of accomplished mining professionals Jenna Hardy, M.Sc., MBA, P.Geo., and Rick Thibault, B.A.Sc. (Honors), P.Eng., to its Board of Directors and Hamish Malkin as Chief Financial Officer. These additions served to augment the existing Board, including Colin Godwin, PhD, P.Eng., P.Geo., and Kenneth Hicks, B.Sc. (Honors), P.Geo., who also serves as President of Argentex.

Ms. Hardy spent 10 years with Pan American Silver Corp. (NASDAQ: PAAS, TSX: PAA) responsible for corporate oversight of health, safety and environment issues at operating subsidiaries in Peru, Mexico and Bolivia, as well as development projects in Argentina, Canada and the United States.  She is a member of the Association of Professional Engineers & Geoscientists of British Columbia (APEGBC), where she has been Chair of the Geoscience Committee since 1998.

Mr. Thibault is a registered mining engineer with 28 years of operations, management and consulting experience in North and South America, including nine years in Argentina.  Over the past six years, he has been providing mining engineering services to international clients active in Argentina, Chile and throughout Latin America.  Before becoming a consultant, Mr. Thibault was the Managing Director of an operating industrial minerals mine in northwestern Argentina.

Mr. Malkin is a Chartered Accountant with over 15 years experience in senior and executive financial positions, including nine years in the mining industry.  He also currently serves as the Chief Financial Officer for Entrée Gold (TSX-V: ETG; AMEX: EGI).  Mr. Malkin is a member of the Canadian Institute of Chartered Accountants and the Institute for Chartered Accountants of British Columbia.

Adds Technical Advisory Board

Argentex also announced the appointment of two prominent Argentine geological scientists to its technical advisory board.  Diego Guido, Ph.D., and Sebastián Jovic are specialists in Patagonia’s Deseado Massif and its ore deposits.  They have in-depth knowledge of Argentex’s Pinguino property, based in part on the extensive fieldwork and research they have conducted, as well as tremendous local expertise.  Argentex looks forward to their continuing contributions to the company.

Reduces Shares Outstanding

In late 2005, Argentex announced that it had successfully renegotiated the property agreements covering its properties in Rio Negro and Santa Cruz.  This resulted in the net reduction and cancellation of approximately 4.75 million escrowed shares.  The number of common shares of the corporation now issued and outstanding is 18,398,890 as at March 21, 2006.

ABOUT ARGENTEX:
Argentex Mining Corporation is a junior mining exploration company with significant holdings in the Patagonia region of Argentina. The company currently owns mineral rights to 30 properties with over 345,000 acres (139,616 hectares) of highly prospective land, located in the Santa Cruz and Rio Negro provinces of Argentina. The company trades under the symbol AGXM on the OTCBB.

FURTHER INFORMATION:
Argentex Mining Corporation
Investor Relations
1-866-594-7687
[email protected]

Information Regarding Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Argentex's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of commodity prices, product demand, market competition, and risks inherent in Argentex's operations. 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.