Argentex has advanced its Pinguino property from the grassroots stage, making the initial new discoveries of indium-rich base metal and silver-gold mineralization within two years.  Since that time Argentex has continued to define a significant mineral deposit that remains open in all directions. 

Pinguino is Argentex’s most advanced property in terms of exploration and drilling with over 30,000 meters (98,000 feet) of drilling completed to date.  Detailed drilling has defined a significant mineral deposit in the discovery area of Marta Centro and Marta Este while reconnaissance drilling has discovered other sulphides veins in the vicinity.  Drill results from the 2007-2008 program include unprecedented intervals of high-grade gold as well as the longest high-grade base-metal intersection recorded to date at Pinguino.  In addition, the company intersected high-grade silver-zinc-lead at approximately 400 meters below the top of the Marta Centro mineralized zone.  Argentex believes that this may be the deepest and thickest mineralized intercept within the entire Deseado Massif of Santa Cruz province.  Argentex has so far documented over 37 miles (60 kilometers) of veins.

The indium-enriched base metal mineralization at Pinguino represents a new deposit type for Patagonia, and management believes the property contains one of Santa Cruz province’s largest base metal and epithermal silver-gold systems.