Argentex Mining Corporation (OTCBB Stock Symbol: AGXM) is a junior mineral resource company engaged in the discovery of precious metal and base metal resources in Argentina’s Patagonia region.  The company’s geological team has made tremendous strides since acquiring a sizeable grassroots property portfolio in 2004, including the discovery of a new indium-rich polymetallic system at Pinguino in Santa Cruz province, as well as early-stage exploration successes in both Santa Cruz and Rio Negro.  In total, Argentex’s portfolio includes mineral rights to more than 30 properties covering over 377,490 acres (152,766 hectares) of land.

Pinguino - Incredible Potential
In just three years, Argentex has advanced Pinguino from a raw prospect to a drill-tested mineralized system with both base metal and precious metal mineralization as well as excellent potential for expansion.  During this time period Argentex’s geological team discovered a significant zinc-lead-indium-silver-copper high sulphide system, which was the first discovery of its kind in Patagonia.

In November 2007, Argentex commenced the largest-ever drill program on its Pinguino property.  Scheduled to include at least 5,000 meters (16,404 feet) of HQ diamond drilling, the drill program is designed to provide the company with sufficient information to generate its first 43-101-compliant resource calculation at Pinguino.  Drilling will initially focus on further testing of known zinc-lead-indium-silver-copper-gold mineralization at Marta Centro, which remains open in all directions.  Pinguino’s prominent Yvonne vein and six newly discovered sulphides-rich zones are also scheduled for drill testing.

In addition to drilling underway at Pinguino, Argentex’s geological field team plans to complete approximately 2,000 meters (6,561 feet) of machine trenching within high-priority areas defined by surface mapping, chargeability and magnetic signatures.

Condor
Also part of Argentex’s extensive 2007-2008 exploration program, the Condor epithermal gold-silver property is scheduled for drill testing in early 2008. Limited historical grab sample results from this property returned high-grade gold with fire assay values up to 131.93 grams per tonne. A detailed geophysical survey on Condor is also planned in advance of drilling.

Like Pinguino, Condor is located within the approximately 60,000-square-kilometer Deseado Massif of Santa Cruz province, which is home to three operating silver-gold mines. 

Portfolio Exploration
Argentex’s large land position in Santa Cruz province provides numerous geological opportunities within the highly prospective Deseado Massif.  The company’s land portfolio includes a large block of claims located to the southeast of Pinguino along the regional Tranquilo fault, a prominent northwest-trending structure that Argentex believes to be one of the important factors in the formation of epithermal mineralization at Pinguino. Argentex is the largest holder of mineral rights along the Tranquilo trend.

Specific activities scheduled as part of the 2007-2008 exploration program include detailed mapping and prospecting of the Cerro Contreras property, which revealed anomalous gold values during a first-pass reconnaissance sampling program in 2006.  Other claim blocks, located north and south of Pinguino, will be evaluated through satellite imagery, property mapping and prospecting.  Plata Leon, which borders Pinguino to the north and east, is also scheduled to be examined and prospected.

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