Toronto, ON, May 9, 2006 -- Argentex Mining Corporation (OTCBB: AGXM) is pleased to announce the commencement of drilling on its Pinguino silver-gold property in Argentina’s Patagonia region.  The program is proposed to include a minimum of 1,500 meters (4,900 feet) of HQ diamond core drilling with a focus on high-priority target areas within the Yvonne and Marta Norte veins.  This initial drilling will be conducted as part of the company’s recently announced $2-million exploration program in Santa Cruz province, which is scheduled to include a total 10,000 meters (32,800 feet) of drilling.

“We will be targeting a number of priority targets that were identified during our 2004-2005 work program at Pinguino,” said Ken Hicks, President of Argentex.  "To date, we have recognized three distinct pulses of epithermal mineralization exposed on surface within the 24,710 acre (10,000 hectare) property and we look forward to drill testing these targets as we begin our 2006 drilling season.”

Sites being targeted in this phase of drilling include the approximately 1,000-meter (3,280-foot) long Yvonne vein, which is exposed on surface as a distinct linear gossan, and the Marta Norte area.  Drilling conducted at Marta Norte in 2005 returned results including 8.8 meters of 1,095 grams per tonne (g/t) silver in the same area of an anomalous trench that returned 9.0 meters of 1,690 g/t silver on surface.  In addition, selected geophysical anomalies along the main Marta vein system not drill tested as part of the 2005 program are included in this proposed program.  More than 21 miles (35 kilometers) of epithermal veins have been documented to date on the Pinguino property.

Drilling will be conducted by Connors Drilling, a respected Canadian company with an office in Mendoza, Argentina, and is expected to be completed by the end of June.  At least 15 holes are planned to test areas with potential mineralization at shallow depths. 

Samples selected for analysis will be sent to Alex Stewart (assayers) Argentina S.A. in Mendoza, Argentina for silver and gold assays.  Referee analyses will be carried out by Acme Analytical Labs in Santiago, Chile. Argentex, Alex Stewart Labs and Acme Analytical Labs maintain comprehensive and independent Quality Control/Quality Assurance programs.

ABOUT ARGENTEX:
Argentex Mining Corporation is a junior mining exploration company with significant holdings in the Patagonia region of Argentina. It currently owns mineral rights to 30 properties with over 345,000 acres (139,616 hectares) of prospective land, located in the Santa Cruz and Rio Negro provinces of Argentina. Argentex is also in negotiations 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_2u4n46ziaej8mdk2st2eti.css; Forward-looking statements in this news release include statements about the Company’s belief that its drill program will include a minimum of 1,500 meters of HQ diamond core drilling with a focus on high-priority target areas.  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.