Argentex Mining Corporation

In mid-January 2007, Argentex announced the successful completion of its latest drill program at Pinguino. The program included a total of 30 HQ diamond drill holes totaling 3,000 meters (9,842 feet). The 30 holes tested near-surface mineralization in the Marta Centro and Yvonne areas. Of the 30 holes, 23 were drilled into Marta Centro for a total of 2,475 meters (8,120 feet) and seven were drilled into Yvonne for a total of 525 meters (1,722 feet). Average hole depth was 100 meters (328 feet) with an average -55 degree dip.

With this drilling, Argentex tested approximately 500 meters (1,640 feet) of the 700-meter (2,297 foot) Marta Centro segment.

Results from the first 11 holes were characterized by wide intervals of strong zinc, lead, indium, silver, copper and gold values and show the definition and expansion of near-surface mineralization from the 2006 discovery holes.

Drill Hole (ID)	From (m)	To (m)	*Width (m)	*Width (ft)	Indium (g/t)	Gold (g/t)	Silver (g/t)	Copper (%)	Lead (%)	Zinc (%)
Area: Marta Centro (depth of oxidation approximately 40 meters)
Testing 0 - 50 m depth below surface (within oxidized zone)

P71	21.70	43.70	22.00	72.18	3	0.29	43	<0.01	0.21	0.08
including	21.70	25.50	3.80	12.47	7	0.88	157	<0.01	0.70	0.02

P72	13.20	37.03	23.83	78.18	1	0.42	19	<0.01	0.46	0.02
	13.20	25.90	12.70	41.67	2	0.60	18	<0.01	0.54	0.03
	17.20	21.20	4.00	13.12	<1	1.25	10	<0.01	0.03	0.02

P73	33.85	57.00	23.15	75.95	9	0.71	93	<0.01	0.46	0.26
including	34.90	37.50	2.60	8.53	27	5.52	704	0.01	1.28	0.06

Area: Marta Centro
Testing 0 - 50 m depth below surface (primary sulphides intersected)

P74	40.76	85.40	44.64	146.45	33	0.18	31	0.04	0.70	1.25
	40.76	59.40	18.64	61.15	78	0.39	69	0.10	1.48	2.67
	44.65	50.50	5.85	19.19	207	1.05	201	0.32	4.34	8.18

P75	43.25	94.85	51.60	169.29	33	0.14	23	0.03	0.83	2.37
including	43.25	64.00	20.75	68.08	46	0.22	38	0.06	1.59	3.72
including	46.90	56.14	9.24	30.31	59	0.29	45	0.02	1.83	5.64

P76	35.70	54.05	18.35	60.20	66	0.33	59	0.02	0.86	3.76
	48.00	51.30	3.30	10.83	158	0.81	113	0.05	2.52	9.98

P77	33.75	78.70	44.95	147.47	15	0.10	14	<0.01	0.24	1.26
including	33.75	50.25	16.50	54.13	30	0.23	29	<0.01	0.39	2.34

P78	29.50	49.00	19.50	63.98	30	0.17	25	0.01	0.48	2.70

P91	52.85	69.46	16.61	54.40	10	0.06	5	<0.01	0.09	1.03

P92	44.53	55.03	10.50	34.45	2	0.01	3	<0.01	0.11	0.62

P93	44.20	65.80	21.60	70.87	3	0.07	16	<0.01	0.43	1.37
	53.67	60.80	7.13	23.39	9	0.17	43	0.02	1.10	3.56
	59.40	60.80	1.40	4.59	43	0.61	191	0.07	4.67	14.48

* Estimated true widths are approximately 90% of the drilled interval.

Abbreviations and conversion equivalents:
1 ppm = 1 g/t (gram per metric tonne)
1 troy ounce per short ton = 34.2857 grams per metric tonne = 34.2857 ppm
1 % = 10000 ppm
1 m (meter) = 3.2808 ft (feet)

The final 19 holes (12 at Marta Centro and seven at Yvonne) included some of the highest zinc-lead-indium values recorded at Pinguino to date. In addition, findings continued to reveal high-grade intervals of zinc, lead, indium, silver, copper and gold values surrounded by large intervals of disseminated mineralization in near-surface drill intersections.

Drill Hole (ID)	From (m)	To (m)	*Width (m)	*Width (ft)	Indium (g/t)	Gold (g/t)	Silver (g/t)	Copper (%)	Lead (%)	Zinc (%)
Area: Marta Centro
Testing 50 - 75 m depth below surface (primary sulphides intersected)

P90	38.91	90.72	51.81	169.98	7	0.62	15	0.03	0.24	0.75
including	62.30	76.70	14.40	47.24	25	2.06	32	0.09	0.36	1.96
including	68.94	70.75	1.81	5.94	108	14.90	100	0.72	1.19	7.74

P79	39.03	92.20	53.17	174.44	4	0.10	22	0.04	0.21	0.21
including	53.25	71.20	17.95	58.89	8	0.21	48	0.10	0.41	0.30
including	57.57	59.66	2.09	6.86	14	0.77	239	0.52	0.78	0.63

P80	40.00	91.00	51.00	167.32	13	0.14	13	<0.01	0.20	0.90
including	64.20	72.80	8.60	28.21	64	0.56	53	0.02	0.81	4.36
including	67.60	70.00	2.40	7.87	127	1.17	85	0.04	1.39	11.29

P81	46.07	108.00	61.93	203.18	31	0.14	25	<0.01	0.66	2.22
including	55.07	70.00	14.93	48.98	105	0.41	78	0.02	2.03	6.91

P82	48.23	134.90	86.67	284.41	33	0.14	26	0.01	0.63	2.24
including	59.10	71.40	12.30	40.35	188	0.58	101	0.07	1.95	9.37
including	65.00	65.69	0.69	2.26	1081	1.88	159	0.22	2.66	34.57
and	99.20	117.92	18.72	61.42	15	0.12	29	<0.01	0.98	1.34

P83	50.00	88.80	38.80	127.30	27	0.13	28	0.01	0.64	2.35
including	50.00	72.80	22.80	74.80	45	0.20	44	0.02	0.99	3.71
including	60.60	70.80	10.20	33.46	91	0.33	78	0.03	1.70	6.92

P88	47.37	93.17	45.80	150.26	9	0.09	13	<0.01	0.20	1.07
including	53.37	67.15	13.78	45.21	26	0.24	36	0.02	0.52	2.92

Area: Marta Centro
Testing 75 - 100 m depth below surface (primary sulphides intersected)

P84	78.00	108.00	30.00	98.42	14	0.20	18	<0.01	0.29	1.56
including	84.70	108.00	23.00	75.46	17	0.23	21	<0.01	0.34	1.91
including	84.70	96.00	11.30	37.07	33	0.45	38	0.02	0.54	3.51

P85	63.76	145.10	81.34	266.86	9	0.09	14	<0.01	0.36	1.07
including	76.87	91.10	14.23	46.69	45	0.29	52	0.02	1.41	4.14
including	86.60	88.98	2.38	7.81	185	0.70	201	0.06	6.76	16.14

P86	60.10	167.00	106.90	350.72	20	0.11	15	<0.01	0.37	1.54
including	70.75	141.00	70.25	230.48	30	0.16	21	<0.01	0.51	2.23
including	82.40	97.10	14.70	48.23	117	0.42	73	0.03	1.72	7.22

P87	68.00	182.80	114.80	376.47	9	0.08	18	<0.01	0.45	1.34
including	74.00	100.00	26.00	85.30	25	0.20	61	0.02	1.47	3.18
including	86.50	98.00	11.50	37.73	54	0.38	130	0.04	3.08	6.17

P89	61.75	106.29	44.54	146.13	8	0.08	12	<0.01	0.27	1.20
including	74.75	87.67	12.92	42.39	17	0.17	24	0.02	0.48	2.52

Area: Yvonne (depth of oxidation approximately 30 meters)

P102	52.56	85.72	33.16	108.79	13	0.39	11	0.07	0.09	0.75
including	52.56	57.40	4.84	15.88	71	1.98	61	0.44	0.21	2.16

P95	35.37	36.37	1.00	3.28	107	8.00	95	1.00	0.34	0.51

P108	44.98	84.17	39.19	128.57	11	0.53	9	0.06	0.06	0.56

P107	47.70	97.10	49.40	162.07	9	0.28	5	0.02	0.07	0.62
including	71.90	97.10	25.20	82.68	12	0.48	7	0.03	0.05	0.69

P96	19.50	53.76	34.26	112.40	5	0.51	14	0.15	0.13	0.24
or	28.5	35.15	6.65	21.82	15	2.38	54	0.64	0.11	0.03
and	35.15	52.76	17.56	57.61	2	0.05	4	0.04	0.08	0.44

P98	17.75	27.46	9.71	31.86	11	0.34	6	0.03	0.05	0.05
including	17.75	18.46	0.71	2.33	48	2.37	35	0.39	0.05	0.41

P97	27.25	47.30	20.05	65.78	11	0.36	10	0.04	0.18	0.41
including	27.25	30.37	3.12	10.24	17	1.44	31	0.02	0.38	0.04
and	39.33	39.83	0.50	1.64	81	2.30	96	1.02	0.34	2.87

* Estimated true widths are approximately 90% of the drilled interval.

Abbreviations and conversion equivalents:
1 ppm = 1 g/t (gram per metric tonne)
1 troy ounce per short ton = 34.2857 grams per metric tonne = 34.2857 ppm
1 % = 22 lbs per metric tonne; ie 1% Zinc = 22 lbs Zn metal per metric tonne
1 m (meter) = 3.2808 ft (feet)

An additional 18 HQ diamond drill holes covering 1,357 meters (4,452 feet) were completed before the onset of winter conditions. Six new zones were drilled to test near-surface gossanous vein in bedrock within newly completed trenches. New sulphide targets had been discovered in all 20 trenches, which formed part of an expanded exploration program that was initiated following successful drill testing this season.

Results from trenching confirmed that elevated levels of gold, silver and indium continue to the zone's oxidized near-surface expression. Details of the analytical results for the major intersections of the 18 drill holes are highlighted in the following table:

Drill Hole (ID)	From (m)	To (m)	Length (m)	Indium (g/t)	Gold (g/t)	Silver (g/t)	Copper (%)	Lead (%)	Zinc (%)
Area: Yvonne Sur

P094-07	20.60	33.70	13.10	18.9	0.32	78.6	<0.01	0.96	0.10
including	25.60	29.10	3.50	56.2	0.71	268.6	<0.01	2.22	0.04

P094-07	54.00	78.90	24.90	0.8	0.03	6.0	<0.01	0.37	0.93
including	54.00	67.96	13.96	1.2	0.04	7.8	<0.01	0.48	1.32

P099-07	41.40	56.45	15.05	19.6	0.23	6.7	0.02	0.07	0.66
including	43.40	45.40	2.00	36.8	0.16	11.0	0.04	0.20	1.39

P100-07	33.50	36.00	2.50	10.9	1.13	13.0	0.16	0.03	0.06
	42.00	46.00	4.00	34.4	0. 89	48.2	0.14	0.07	0.32

P100-07	69.20	82.30	13.10	39.0	0.37	10.9	0.02	0.29	1.97
including	71.30	79.30	8.00	50.9	0.51	13.5	0.02	0.35	2.46

Area: Yvonne Norte

P103-07	36.10	38.15	2.05	13.6	0.10	12.8	0.09	0.12	1.36

P103-07	49.00	63.45	14.45	12.7	0.13	5.8	0.01	0.13	1.08
including	51.48	52.60	1.12	118.1	0.39	29.8	0.06	0.33	4.78

P104-07	20.70	31.60	10.90	15.1	0.14	11.8	<0.01	0.07	0.02

P105-07	50.35	61.30	10.95	10.2	1.06	16.9	0.08	0.10	0.17
including	50.35	51.85	1.50	33.4	4.48	72.6	0.40	0.36	0.42
and inc	55.90	56.46	0.56	34.4	5.49	68.4	0.09	0.10	0.11

Area: Yvonne

P101-07	56.18	70.60	14.42	21.1	0.88	14.5	0.10	0.20	0.74
including	56.18	60.18	4.00	69.1	3.06	41.0	0.37	0.12	1.49

P106-07	66.00	77.43	11.43	14.0	0.57	12.6	0.10	0.08	0.52
including	76.07	77.43	1.36	81.5	3.64	75.9	0.71	0.12	0.98

P109-07	49.50	74.86	25.36	10.1	0.51	6.0	0.04	0.05	0.48
including	65.05	67.05	2.00	28.1	1.81	16.7	0.20	0.02	0.39
including	71.05	74.86	3.81	21.9	1.22	18.3	0.12	0.06	0.93

Area: Savary

P115-07	28.30	28.80	0.50	0.9	1.08	45.0	0.02	1.59	0.47

P116-07	37.70	39.70	2.00	33.3	0.72	35.3	0.02	0.84	2.48

Area: Kasia

P110-07	32.80	34.15	1.35	0.9	0.08	52.4	0.03	2.63	3.17

P-110-07	40.05	63.95	23.90	2.7	0.04	13.8	<0.01	0.67	1.39
including	41.05	44.10	3.05	2.7	0.06	11.6	<0.01	0.58	2.40
including	57.42	60.40	2.98	12.1	0.11	23.6	0.01	1.05	2.40

P111-07	41.90	64.78	22.88	21.2	0.10	9.1	0.01	0.51	1.72
including	50.55	62.75	12.20	32.8	0.16	14.4	0.02	0.80	2.65
including	60.36	62.75	2.39	144.9	0.66	29.3	0.06	0.81	6.25

P112-07	37.10	47.70	10.60	11.0	0.02	11.7	<0.01	0.37	1.25
including	37.10	38.60	1.50	24.6	0.01	11.2	<0.01	0.74	2.06
including	43.50	46.70	3.20	16.4	0.03	19.9	0.01	0.57	1.77

Area: Kae

P117-07	25.00	43.00	18.00	3.3	0.02	8.0	<0.01	0.28	1.02
including	33.00	43.00	10.00	5.6	0.02	10.8	<0.01	0.35	1.47
including	36.00	42.00	6.00	6.0	0.02	12.7	<0.01	0.43	1.81

Area: Sonia

P113-07	31.45	56.00	24.55	21.3	0.17	30.2	0.04	0.58	1.56
including	31.45	33.30	1.85	121.2	0.73	273.6	0.14	5.33	12.35

P118-07	18.47	19.03	0.56	12.8	0.03	14.6	<0.01	0.95	0.07
including	31.10	34.40	3.30	1.2	0.87	45.3	<0.01	0.48	0.08

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