Toronto, ON, June 5, 2006 -- Argentex Mining Corporation (OTCBB: AGXM) is pleased to announce the completion of geological logging of the first 5 holes of a proposed 25 hole program at Pinguino as part of the company’s recently announced $2-million exploration program in Santa Cruz province. 

“Drilling at Pinguino is progressing as planned and we are pleased with the work completed to date,” said Ken Hicks, President of Argentex.  “This initial phase is expected to include at least 1,500 meters (4,900 feet) of drilling and we have scheduled approximately 10,000 meters (32,800 feet) for the proposed overall exploration program.”

A new target, the Yvonne vein, is the focus of the initial holes of the company’s current drill program.  On surface, this vein displays a prominent limonite capping over a strike length that appears to exceed 1,000 meters (3,280 feet).  The formation of the limonite is due to a high concentration of sulphides weathered on surface.  This type of high-sulphide vein appears to be distinct from the other low-sulphide veins and vein breccias throughout the Pinguino property.

Drilling to date in the Yvonne area has intersected tuffites of the lower Jurassic Roca Blanca Formation in the upper portion of the holes, which appears to form a thin cover over sandstones and mudstones of the upper Triassic El Tranquillo Group.

At depth, the Yvonne vein is composed of a steeply northeast-dipping, sulphide-rich structure measuring 2 to 8 meters (6.5 to 26 feet) in thickness.  It displays brecciated, banded and massive textures with 10% to 90% sulphides together with quartz and clay minerals.  The sulphide mineralogy observed is mainly pyrite, arsenopyrite and sphalerite with minor galena, chalcopyrite and other undetermined sulphides and sulphosalts.  All the drill holes also cut an extensive mineralized interval that is mainly developed in the hanging wall of the vein and is composed of quartz and sulphide veinlets.  Details of the first five holes drilled are summarized in the following table:

Drill hole summary

The individual holes are spaced approximately 40 meters (131 feet) apart going north along the Yvonne vein and the interval between holes P46 and P50 is approximately 180 meters.

The five Yvonne vein drill holes confirm academic research carried out over the past three years by La Plata and Barcelona university teams.  Research is continuing as part of a Ph.D. project at La Plata University in Buenos Aires.  In their published research, the La Plata team has identified Yvonne as a sulphide-rich vein with anomalous concentrations of tin, cadmium and indium together with anomalous zinc and silver, and with elevated copper, manganese, lead, tungsten and bismuth, in a complex sulphide-rich mineralogy. Based upon the published scientific research conducted to date, the geochemical and mineralogical characteristics of mineralized material on the Yvonne vein could possibly represent a pulse of higher temperature polymetallic mineralization.

Argentex’s exploration of the Yvonne vein is part of the company’s continuous expansion of new targets on its extensive Pinguino land holdings.  Analytical findings will be reported upon receipt and compilation of results. 

QUALITY ASSURANCE
Exploration on the Pinguino project is being conducted under the supervision of Mr. Kenneth Hicks, P.Geo., Argentex’s President and a “qualified person” as defined by National Instrument 43-101.  Mr. Hicks is responsible for the preparation of technical information in this news release.  All samples were collected in accordance with industry standards. Samples were submitted to Alex Stewart Assayers, Argentina, S.A., in Mendoza, Argentina, for fire assay and ICP analysis. Selected samples of massive sulphides were submitted for a separate analysis for indium.  Check assays are submitted to Acme Analytical Labs, an ISO-9001:2000 certified lab, in Santiago, Chile. Accuracy of results is tested through the systematic inclusion of standards, blanks and check assays.

ABOUT ARGENTEX:
Argentex Mining Corporation is a junior mining exploration company with significant holdings in the Patagonia region of Argentina. It currently owns 100% mineral rights to 30 properties with over 369,710 acres (149,616 hectares) of prospective land, located in the Santa Cruz and Rio Negro provinces of Argentina. Argentex is also in the due diligence review phase to acquire controlling interest of a gold project in Nevada’s Battle Mountain region. The company 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_nv5x2iuhr0ko6yy2o2zfaz.css; Forward-looking statements in this news release include statements about its proposed drill program will include at least 1500 meters of drilling, that the Yvonne vein contains anomalous concentrations of tin, cadmium, indium and other metals as suggested by the La Plata research team. 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.