Toronto, ON, June 30, 2004 – In addition to ongoing exploration work currently being conducted at Argentex Mining Corporation's (OTCBB:AGXM) Pinguino property in Santa Cruz, Argentina, the company wishes to report that it has completed a reconnaissance examination of several of its properties located in the Province of Rio Negro.

Rock chip samples collected from the Los Menucos Gold District in Rio Negro returned up to 4.1 grams per tonne gold (0.13 oz/t gold) in a newly discovered quartz vein stockwork zone that has a length in excess of 1,150 feet (350 meters) and remains open along strike. The company is very encouraged by its early success in this area where a number of mining companies have recently made significant gold-silver discoveries.

“ Prominent gold producers have recently announced sizable investments in the Los Menucos gold district, an area that is believed to hold multi-million ounce potential,” said Ken Hicks, Vice President of Exploration for Argentex, who spearheaded the exploration program. “The results returned from our properties represent an exciting discovery area that can be expanded and further defined as we continue our exploration program.”

Preliminary prospecting plus rock and soil geochemical sampling has been completed on 12 of the 18 properties that Argentex controls in the Province of Rio Negro. A total of 87 rock chip samples and 13 soil samples were taken from areas that exhibited characteristics of a strong, highly evolved regional hydrothermal system ideally suited for low and high sulphidation epithermal precious metal deposits.

In the Los Menucos area, Argentex has discovered large areas of silicification and argillic alteration within the property boundaries. The largest of these alteration zones covers an area in excess of 1.25 square miles. Four rock chip samples of quartz veins and vein stockwork were collected from this previously untested area. Sample widths ranged from approximately 4 feet (1.2 meters) to 16 feet (5 meters) and returned geochemical values of 4130 ppb (0.132 oz/t), 1167ppb (0.038 oz/t), 716 ppb (0.023 oz/t) and 562 ppb (0.018 oz/t) gold, taken over a strike length in excess of 1,150 feet (350 meters). Fire assay results of these anomalous samples confirmed the tenor of the initial MS-ICP gold values.

Samples from the discovery zone, which remains open along strike, contained a subtle geochemical correlation of Ba, Ag, Sb, As and Hg with Au. Other parallel zones of prominent silicification with jarositic weathering outcrop exhibited the same geochemical correlation over a strike length in excess of 3,200 feet (1,000 meters) and widths over 32 feet (10 meters).

Plans are being formulated for an aggressive follow-up exploration program, which will include an extensive examination of each claim block based upon the new data obtained from detailed correlation and interpretation of this initial discovery area. As well, a comprehensive program of geological mapping, rock and soil sampling is planned for the discovery area. Follow-up work will include trenching and drilling of high priority targets.

All analytical work on rock and soil samples is carried out by Acme Analytical Labs in Santiago, Chile and Vancouver, Canada.

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.