Reports assay results for first 11 of 45 holes

Toronto, ON, July 26, 2005 – Argentex Mining Corporation (OTCBB: AGXM) is pleased to announce the results for the first 11 of 45 HQ diamond drill holes from its 3,010 meters (9,875 feet) Phase One drilling program at its epithermal gold-silver Pinguino property located in Santa Cruz, Argentina.  This was Argentex’ first drill testing of the main Marta vein system and was designed to test near-surface extensions of mineralization discovered during trenching.  Assay results reveal several high-grade gold-silver intercepts within a broad mineralized zone and the system remains open in all directions. 

“We are extremely pleased with these initial results as they confirm that the exploration plan to develop our Pinguino property is advancing successfully,” said Ken Hicks, President of Argentex.  “We intend to use geological information acquired from this first phase of drilling to plan, target and execute additional drilling in the coming months.  Specifically, we are planning to test areas beyond our current discoveries along the 3.7 mile (6 kilometer) main Marta vein.  We also plan to initiate deeper drilling and test other veins within the 15.5 miles (25 kilometers) of epithermal vein strike length that we have verified at Pinguino.”

Encouraging Results
All holes intersected the targeted zone of gold-silver mineralization exposed in surface trenching.  Argentex diamond drill hole P05-1 returned 7.35 g/t gold and 140.0 g/t silver (gold equivalent 9.68 g/t) over 1.4 meters from within a 3.85 meter interval with gold values of 3.92 g/t and silver values of 91.58 g/t (gold equivalent 5.45 g/t).  High grade gold-silver mineralization continues with depth with hole P05-11 returning the deepest mineralized intercept and the highest combined gold and silver values to date at 5.89 g/t gold and 362 g/t silver over 2.17 meters for a gold equivalency of 11.92 g/t.

Selected high grade intercepts include:

Shallow drill holes, angled at 45 degrees and oriented perpendicular to the main zone, were used to test a small portion of the near-vertical Marta Este structure.  This should enable Argentex to define the subsurface system and determine if high-grade mineralization exposed on surface has a specific orientation within the larger zone of alteration. These high grade zones are generally contained within broad zones of altered tuffs, which are comprised of lower grade mineralized materials.  Mineralization appears to be related to fracturing, faulting and brecciation of the host felsic lithic tuffs.

Argentex plans to report on the results from the remaining 34 holes upon receipt of assays from Acme Analytical Labs.  Meanwhile, planning for exploration work at Pinguino is ongoing and is focused on the main Marta vein system and other vein systems within the property boundaries.

Samples were sent to Acme Analytical Laboratories in Santiago, Chile for gold and silver assays.  Both Argentex and Acme Labs maintain comprehensive and independent Quality Control/Quality Assurance programs.

ABOUT ARGENTEX:
Argentex Mining Corporation is a junior mining exploration company with mineral rights to 30 properties with over 345,000 acres (139,616 hectares) located in the Patagonia region of southern Argentina.  Argentex common stock currently trades under the symbol AGXM on the OTCBB.

FURTHER INFORMATION:
Argentex Mining Corporation
Investor Relations
1-866-594-7687
[email protected]

Information Regarding Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Argentex's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc., volatility of commodity prices, product demand, market competition, and other risks inherent in Argentex's industry and operations. Please refer to Argentex’ Annual Report on Form 10-K and other filings with the Securities and Exchange Commission for a comprehensive discussion of these and other risk factors.

Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.