Toronto, ON, March 17, 2005 -- Argentex Mining Corporation (OTCBB: AGXM) is pleased to announce the commencement of drilling on its Pinguino property located in Argentina’s mineral-rich Patagonia region. The initial drill program includes a planned 9,800 feet (3,000 meters) of HQ diamond core drilling. Drilling will focus on high priority target areas within the main Marta vein system, where high-grade gold-silver assay results were returned following an extensive trenching and sampling program in 2004.

“We are excited to be taking this significant next step in developing the extensive potential of our Pinguino property,” said Ken Hicks, Vice President of Exploration for Argentex. “Results from our 2004 work program revealed large widths of multi-gram gold mineralization and extremely high-grade silver ranging to thousands of grams per tonne.”

Marta is one of the largest and most intensely explored vein systems within the Pinguino property, with structurally controlled segments extending over a total strike length of at least 3.5 miles (6 kilometers). El Tranquillo is another major siliceous structure, situated approximately 4,900 feet (1,500 meters) from Marta and visible on Landsat imagery over a distance of at least 5 miles (8 kilometers). Approximately 15 miles (25 kilometers) of epithermal veins have been documented to date on the Pinguino property and occur within rhyolitic tuffs of the Lower Jurassic Roca Blanca Formation.

Evidence to date indicates that precious metal mineralization at Pinguino is geologically similar to classic epithermal gold-silver occurrences around the world. Epithermal textures include open space filling, silica flooded hydrothermal breccias, banded silica and vein swarms.

Argentex’s Pinguino exploration activities began in April 2004. A comprehensive program of detailed soil sampling, prospecting and 3D Induced Polarization geophysics was carried out over significant portions of known mineralization. Diamond saw channel sampling was also conducted along 20 of the 155 open trenches. Follow-up trenching and additional detailed soil sampling was carried out by Argentex on prospective targets through mid-December 2004.

Drilling will be conducted by Connors Drilling, a respected Canadian company with an office in Mendoza, Argentina. At least 20 holes are planned to test near-surface as well as potential at depth. Samples selected for analysis will be sent to Acme Analytical Laboratories in Santiago, Chile for gold and silver assays. Both Argentex and Acme 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. 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
1-888-601-8366
[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.