Toronto, ON, December 18, 2007 -- Argentex Mining Corporation (OTCBB: AGXM) is pleased to announce the appointment of Mr. Patrick Downey, P.Eng., an accomplished mining-industry executive, to the company's formal advisory board. The board is comprised of seasoned resource industry professionals with complementary backgrounds and expertise.
Mr. Downey has more than 20 years of international experience in the resource industry. Currently, he is President and CEO of Aura Gold Inc., a TSX-listed company that is actively exploring and developing properties in Brazil. Previously, Mr. Downey was President and CEO of Viceroy Exploration Ltd., where he successfully developed the Gualcamayo project in Argentina until the company was acquired by Yamana Gold (TSX: YRI) for $600 million. His background also includes work as President of Oliver Gold Corporation where he negotiated the transaction to form Canico Resources, which was purchased by CVRD for $800 million. Mr Downey has been involved with several international construction projects and mine operations, including operating and engineering positions at several mining projects for Anglo American Corporation in South Africa.
"Mr. Downey is very well respected in the mining industry. He is a dynamic mining professional and a proven mine finder and we are delighted to welcome him to our advisory board," said Ken Hicks, President of Argentex. "His most recent success advancing the Gualcamayo project in Argentina is a great inspiration to us and we believe he will be a valuable advisor to Argentex as we pursue our own advanced exploration in Santa Cruz and Rio Negro."
Mr. Downey joins Dr. Diego Guido and Mr. Sebastian Jovic on the Argentex advisory board.
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 also identify forward-looking statements. Forward-looking statements are based on current facts and analysis and on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward-looking statements in this news release include the Company's statement that it believes that Mr. Downey will be a valuable advisor to Argentex as it pursues its own advanced exploration program in Santa Cruz and Rio Negro.
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.