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

Samples have been submitted to Acme Analytical Labs for analysis and findings will be reported upon receipt and compilation of results.

Argentex expects to schedule a follow-up drill program in Q2 2007.