Argentex has assembled an impressive land portfolio in Argentina's Santa Cruz and Rio Negro provinces. In total, the company holds the option for 100% mineral rights to more than 30 properties with over 377,490 acres (152,766 hectares) of land. Argentex’s properties are located within two prominent geographical features, the Deseado and Somnumcura Massifs, both of which have proven to host significant epithermal precious metal deposits. In addition to Argentex’s precious metal discoveries at its Pinguino property in Santa Cruz, the company has discovered Patagonia’s first indium-rich polymetallic deposit within the property boundaries.

SANTA CRUZ 

Pinguino
Argentex has advanced its Pinguino property from the grassroots stage, making exciting discoveries of silver-gold and indium-rich base metals in just three years.  Pinguino is Argentex’s most advanced property in terms of exploration and drilling with just under 10,000 meters of drilling to date.  Management believes the property contains one of Santa Cruz province’s largest underexplored epithermal silver-gold systems and Argentex has so far documented approximately 36 miles (58 kilometers) of veins.  A new deposit type for Patagonia was discovered in 2006 drilling, containing high-grade zinc with indium, lead and copper mineralization over significant width.  Detailed drilling has defined a significant deposit in the discovery area and reconnaissance drilling has discovered other sulphides veins in the vicinity.  As part of its 2007-2008 exploration program, Argentex is currently conducting the largest-ever drill program at Pinguino.

Cerro Contreras
Specific activities scheduled for Cerro Contreras during the 2007-2008 exploration season include detailed mapping and prospecting.  Reconnaissance work conducted on the property in 2006 revealed anomalous gold values within the favorable Jurassic Chon Aike volcanic stratigraphy.

Condor
Argentex’s Condor epithermal gold-silver property has been 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 (g/t) gold. 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.  

Grassroots Properties
Outside of its Pinguino and Condor projects, Argentex has an extensive land package within the highly prospective Deseado Massif region of Santa Cruz province. Preliminary prospecting, sampling and mapping have shown good results and additional follow-up is planned during the 2007-2008 field season.

RIO NEGRO

Grassroots Properties
Argentex’s Rio Negro properties are in the Los Menucos epithermal silver-gold region of the Somuncura Massif located approximately 620 miles (1,000 kilometers) southwest of Buenos Aires.  Although at an earlier stage of exploration, the regional geological setting of the emerging gold area of Somuncura Massif, where the Argentex claims are located, is geologically similar to the Deseado Massif in Santa Cruz.

Argentex holds a total of 18 properties in Rio Negro covering approximately 70,000 hectares. Preliminary work has identified a significant number of epithermal veins and two separate gold discoveries in highly oxidized outcrops. This area has not yet been subject to any modern exploration such as trenching or drilling.