Toronto, ON, May 11, 2004 – Argentex Mining Corporation (OTCBB: AGXM) today announced that its Phase 1 exploration program at Pinguino is advancing on schedule and that geophysical work has commenced on the property.

SJ Geophysics Ltd., a Canadian-based geophysical consulting and contracting services firm, has been retained to conduct Argentex’s geophysical program at Pinguino, including Induced Polarization (IP) surveys on the main vein and surrounding areas. The program will include approximately 50 kilometers of traverses with line spacing and dipole length to be determined in the field. Ongoing satellite interpretation will be used as an aid to exploration.

Objectives of the geophysical program at Pinguino include further definition of the main vein and its host structure, identification of new prospective zones and follow-up in areas of highly anomalous soil geochemical assays. The most promising targets are expected to be drill tested later in the field season.

“We are optimistic that the survey will delineate zones of alteration and mineralization, some of which could translate into intersections of significant gold and silver mineralization once drilled,” said Chris Dyakowski, President and CEO of Argentex Mining Corporation.

ABOUT ARGENTEX:
Argentex Mining Corporation is a junior mining exploration company with significant holdings in the Patagonia region of Argentina. The company owns mineral rights to 26 properties with over 240,000 acres of highly prospective land, located in the Rio Negro and Santa Cruz provinces of Argentina. Argentex is well funded for its 2004 exploration program. The company trades under the symbol AGXM on the OTCBB.

FURTHER INFORMATION:
Argentex Mining Corporation
1-888-601-8366
[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.

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. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.