Cerro Contreras

Location: Santa Cruz province, Patagonia, Argentina. Closest town is Pico Truncado, 80 km NE of the area

Property Size: 3,842.9 Hectares. Limit coordinates (Gauss Krügger) are: 2519000 & 2527985 Easting and 4757723 & 4762000 Northing.

Overview: Advancing Gold Exploration project

Ownership: 100% Argentex (through subsidiary SCRN Properties Ltd)

Capsule Geology: Intermediate (blue) to acid (pink) middle to late Jurassic lavas flows and domes (dashed lines) with some pyroclastics rocks, belonging to the Bajo Pobre and Chon Aike Formations, overlain by Cretaceous, Tertiary and modern sediments. Two main areas of interest; NW Dome and Main Vein. Features of a fossil volcanic center at the intersection of regional NW and ENE structures, and with a large alteration halo (5 km by 2 km) exists in the vicinity of the Main Vein area.

Mineralization: Represented by several occurrences of low sulphidation quartz veins, breccias and veinlets associated with volcanic rocks. The NW Dome has potential for fracture disseminated sulphide-rich mineralization and the Main Vein area has potential for deeper high grade precious metal deposits.

Work completed to date: Regional map of the district and detailed mapping of the two targets (Main Vein, NW Dome). Geochemical surveys: several rock chip samples all over the project, and 126 channel samples and 549 soil and 636 lag samples in the two targets. Geophysics: detail ground magnetometry surveys in each target (about 5 km2 covered), and two different IP surveys at Main Vein target: gradient in an area of about 2 by 2 Km, and 5.7 km of detail IP lines. Status: Drill ready.

Proposed Future Work: Initial drill testing of high priority targets derived from surface and geophysical work. Goal to define mineralization at depth, relationship to surface mineralization and effectiveness of target definition tools. With positive results, expansion and definition of mineralization to complete a preliminary resource estimate.