Toronto, ON, October 17, 2007 -- Argentex Mining Corporation (OTCBB: AGXM) today announced results from trenching conducted earlier this year on the Marta Centro zone at Pinguino, which is located in Santa Cruz, Argentina.  Trenching was conducted as part of the company's recently completed phase four exploration program.  Analytical results confirm that elevated levels of gold, silver and indium, originally discovered in drilling of deeper sulphide-rich mineralization, continue to the zone's oxidized near-surface expression.

"Marta Centro was our first test of the numerous Pinguino geophysical anomalies, which have very subtle vein expressions.  When we discovered sulphide-rich zinc-lead-indium-silver-gold mineralization at depth with our drilling, the natural next step was to determine what survived the near-surface oxidation," said Ken Hicks, President of Argentex.  "We are encouraged by the surface discovery of significant values of gold, silver and indium in these trenches on Marta Centro because it projects from the mineralization we've intersected at depth."

Argentex has now tested the Marta Centro vein from surface to a drilled depth of approximately 100 meters as well as along a strike length of approximately 500 meters.  Mineralization is open-ended both along strike and at depth based on drilling conducted to date and appears to follow linear high-chargeability geophysical anomalies.  Through ground geophysical surveys of selected areas, Argentex has discovered more than 5,000 meters of chargeability anomalies on the Pinguino property to date.

Trenches are spaced approximately 40 meters apart and sample results from Marta Centro are highlighted in the following table:

Pathfinder geochemistry results within the Marta Centro trenches also show elevated bismuth (to 168 ppm), tin (to 1,266 ppm) and erratic molybdenum (to 120 ppm). These elements form part of a group of elements commonly associated with intrusive-related mineralization.

Argentex's indium-rich polymetallic discovery at Pinguino was the first known discovery of its kind in the Patagonia region.  Results from drill programs at Marta Centro reveal consistent zinc-lead-indium-silver-gold-copper mineralization along strike and to depth.  A total of 23 holes drilled into Marta Centro show a consistent high-grade base metal core surrounded by wide intervals of disseminated mineralization, as detailed in press releases dated April 23, 2007 and April 16, 2007.

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.

Indium is a strategic, high-value metal that is primarily used in high-technology applications and in new solar technology.

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.

Samples selected for analysis are sent to Acme Analytical Laboratories' sample preparation lab in Mendoza, Argentina. From there sample pulps are sent to Santiago, Chile for fire assay gold analysis and to Vancouver, Canada for Group 1DX multi-element MS-ICP analysis.  Samples with over-limit zinc, lead, silver and/or copper are reanalyzed using an ore-grade high detection limit 7AR analysis, also conducted in Vancouver.  Acme Analytical Laboratories is an accredited ISO 9000:2001 full-service commercial laboratory with its head office in Vancouver.  Referee analyses will be carried out by Alex Stewart (assayers) Argentina S.A. in Mendoza, Argentina.  Argentex, Acme and Alex Stewart all maintain comprehensive and independent Quality Control/Quality Assurance programs.  Drilling was conducted by Connors Drilling, a Canadian company with an office in Mendoza, Argentina.

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_7mwxzqt0r7vvs2v0nvitzo.css; Forward-looking statements in this news release include statements about significant values of gold, silver and indium in these trenches on Marta Centro because it projects from the mineralization we've intersected at depth. 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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