Vancouver, B.C., June 26, 2008 -- Argentex Mining Corporation (TSX-V: ATX, OTCBB: AGXM) is pleased to announce that it has made the final option payment on its silver-zinc-lead-indium-gold Pinguino property to earn 100% interest, subject to a 2% net smelter return.
“Completing the final option payment to earn our 100% interest in Pinguino was a significant milestone for the company,” said Ken Hicks, President of Argentex. “Pinguino is well situated in the mining friendly province of Santa Cruz, within the productive Deseado Massif region, at an elevation of only 400 meters above sea level (1,312 feet) and with excellent access and infrastructure. Argentex plans to capitalize on these advantages and use our exploration expertise to continue to advance the property towards production.”
The significant silver-zinc-lead-indium-gold discovery at Pinguino in 2006 marked a major exploration milestone for Argentex. This was the first discovery of its kind in the region, unique with both silver-gold and indium-enriched base-metal mineralization in multiple zones that remain open-ended along strike and to depth.
Since 2006, exploration of Pinguino’s base-metal-rich targets has expanded beyond discoveries at the Marta Centro and Yvonne zones and now totals eight mineralized veins, including the Yvonne Sur, Yvonne Norte, Sonia, Kasia, Savary and Luna veins. The veins are contained in an area measuring approximately 8.0 square kilometers (3.0 square miles).
ABOUT ARGENTEX:
Argentex Mining Corporation is a junior mining exploration company with significant holdings in the Patagonia region of Argentina. It holds 100% mineral rights to the polymetallic Pinguino property and more than 30 additional properties, covering a total of 377,490+ acres (152,766+ hectares) of prospective land in Santa Cruz and Rio Negro, Argentina. Shares of Argentex common stock trade under the symbol AGXM on the OTCBB and, beginning July 28, 2008, will trade on the TSX Venture Exchange under the symbol ATX.
FURTHER INFORMATION:
Ken Hicks, President
Argentex Mining Corporation
1-866-594-7687
[email protected]
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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_u2xpud5aigikd3tpsbarzo.css; Forward-looking statements in this news release include statements about the Company’s belief that to capitalize on these advantages and use our exploration expertise to continue to advance the property towards production. 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 the Company’s operations including the risk that the Company may not find any minerals in commercially feasible quantity. 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.
