Toronto, ON, October 4, 2007 -- Argentex Mining Corporation (OTCBB: AGXM) today announced findings from the final stage of its multi-phase IP geophysics program.  This latest stage has revealed the strongest chargeability anomaly discovered to date at the polymetallic Pinguino property in Santa Cruz, Argentina.  The anomaly is located at the regional Tranquilo fault zone.

"The prominent Tranquilo regional fault was the first feature visible from satellite imagery and is what initially drew our attention to the Pinguino property," said Ken Hicks, President of Argentex. "The fault zone is characterized by silicified country rock with scattered exposures of oxidized copper mineralization.  At Pinguino, we have successfully defined mineralized veins through drill testing of chargeability anomalies. These latest geophysical findings give us a substantial subsurface target on which to focus future drill testing."

The Tranquilo area is being scheduled for drill testing as part of Argentex's 2007-2008 work program.

This chargeability anomaly is of particular geological significance because it is bounded by the regional Tranquilo fault zone, which is believed to be an important component of the Pinguino mineralizing system.  

A total of eight geophysical targets were examined in stages during the year-long geophysics program.  Six of these zones, including Yvonne Sur, Kasia, Sonia, Yvonne, Savary and Yvonne Norte, have been drill tested to date -- all six vein systems returned significant mineralized intersections, including zinc, lead, copper, gold, silver and indium, as discussed in a press release dated September 19, 2007.

Since 2004, detailed mapping of the Pinguino property in conjunction with geochemical and geophysical surveys has led to the discovery of numerous parallel, subparallel and conjugate mineralized veins.  This continues to increase the exploration potential at Pinguino.

Argentex will be disclosing details of its comprehensive 2007-2008 work program in the coming weeks.

About the Pinguino Project
Argentex's Pinguino property is located in Argentina's Patagonia region, within the Deseado Massif of Santa Cruz province. Both silver-gold and base-metal discoveries have been made through the completion of approximately 9,350 meters (30,675 feet) of diamond drilling to date.  Mineralization remains open-ended along strike and at depth, and numerous targets remain to be tested by drilling.  Previous exploration in 2006 was focused on zinc-indium-lead-silver-gold-copper discoveries in the Marta Centro and Yvonne areas of the property.  A similar style of mineralization has been recently discovered at the Yvonne Sur, Yvonne Norte, Sonia, Kasia, Savary and Luna veins.

Pinguino is easily accessible, situated approximately 500 meters (1,640 feet) above sea level in low-relief topography.  An existing system of all-weather roads provides year-round access to the property.

Quality Assurance
Exploration on the Pinguino property is being conducted under the supervision of Mr. Kenneth Hicks, P.Geo., Argentex's President and a "qualified person" as defined by Canada's National Instrument 43-101.

A 30.3-line-mile (48.9-line-kilometer) dipole-dipole IP survey was completed by independent Argentine contractors in four stages and a final report has been compiled. The survey covered eight targets of mineralization including Yvonne Sur, Kasia, Sonia, Yvonne, Savary, Yvonne Norte, Luna and El Tranquilo.

ABOUT ARGENTEX:
Argentex Mining Corporation is a junior mining exploration company with significant holdings in the Patagonia region of Argentina. The company holds an option to acquire 100% mineral rights to the Pinguino property and owns 100% mineral rights to more than 30 properties with over 377,490 acres (152,766 hectares) of prospective land located in the Santa Cruz and Rio Negro provinces of Argentina.  Argentex trades under the symbol AGXM on the OTCBB.

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

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 css/casts_of_future_results__estimates_of_amounts_not_yet_determined_and_assumptions_of_management._nbsp_jrs43ganw4g8dx44zga474.css; Forward-looking statements in this news release include statements about "the Tranquilo area is being scheduled for drill testing as part of Argentex's 2007-2008 work program" and "Argentex will be disclosing details of its comprehensive 2007-2008 work program in the coming weeks".  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. 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.

Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

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