Toronto, ON, January 4, 2006 ? Argentex Mining Corporation (OTCBB: AGXM) is pleased to report that the year 2005 has seen steady and positive progress, both in the growth of its management and local scientific team and in the exploration of its silver-gold properties in Argentina?s Patagonia region.

The year was highlighted by the completion of Argentex?s comprehensive Phase One exploration and drilling program on its extensive land holdings in the provinces of Santa Cruz and Rio Negro, Argentina.  The program culminated with a successful 3,000 meter drill program on the company?s flagship Pinguino epithermal silver-gold property, which returned some of the highest silver-gold intervals encountered at Pinguino to date.

Drilling at Pinguino focused on high-priority target areas within the main Marta vein system, testing upper levels of vein mineralization in select pockets along a total distance of 3.1 miles (5.0 kilometers).  Target areas were selected based on earlier surface trenching and sampling results, which had returned silver-gold assay values in excess of 1,500 grams per tonne (g/t) silver and 11.5 grams per tonne (g/t) gold.

?We believe that the results from our first-ever drill program were extremely promising, returning high values of silver and gold over significant widths,? said Ken Hicks, President of Argentex. ?We are encouraged by these results because they demonstrate the near-surface continuity of the higher-grade mineralization exposed during earlier trenching. In addition, our 3D IP geophysical survey shows large chargeability anomalies at depths that remain to be tested by drilling. Management is extremely encouraged by our results to date.?

Other 2005 exploration highlights include:
Diamond drilling at Pinguino returned significant results, including 8.8 meters of 1,095 g/t silver at a vertical depth of 23 meters below surface.  This discovery was made in the same area of a previously reported, anomalous trench that returned 9.0 meters of 1,690 g/t silver on surface.
Closely spaced drilling in parallel sections discovered a possible northwest plunge of high-grade silver mineralization shoots opening up numerous areas of potential mineralization for drill testing.
Geological modeling suggested the potential for higher grade mineralization at depth in Marta South.  A small number of drill holes at the end of first phase drilling were designated to test underneath a narrow surface trench with geologically favorable textures. It returned a best intersection of 5.9 meters of 4.8 g/t gold at a vertical depth of 46 meters below surface.  The zone remains open in three directions.

Approximately 15 miles (25 kilometers) of epithermal veins have been documented to date on the Pinguino property and occur within rhyolitic tuffs of the Lower Jurassic Roca Blanca Formation.  The largest of the vein systems extends more than 6.0 kilometers in strike length. Numerous other veins have yet to be tested on Argentex?s low relief, year-round road accessible property.

On the corporate front, Ken Hicks became president, Argentex added a distinguished geologist to its Board of Directors and the company attracted two prominent Argentine geological scientists to its technical advisory board.

Ken Hicks, B.Sc. (Hons), P.Geo. was appointed President effective June 1, 2005.  Mr. Hicks was formerly the Vice President of Exploration for Argentex and has successfully directed the company?s exploration programs in Argentina since March 2004.

Also on June 1st, distinguished geologist Colin Godwin (PhD, P.Eng., P.Geo.) joined the Argentex Board of Directors.  Dr. Godwin is an accomplished mining executive, Professor Emeritus at the University of British Columbia and published author. 

Argentex was also fortunate to attract two prominent Argentine geological scientists as technical advisors in 2005.  Dr. Diego Guido has extensive scientific research, academic and consulting mining experience in Argentina?s Patagonia region.  Mr. Sebasti?n Jovic is working at the Mineral Resources Institute (INREMI) at La Plata University in Buenos Aires and is a PhD candidate studying the economic geology of the Pinguino area.

?Argentex is exploring a large mineralized epithermal system at Pinguino, which has had little previous exploration since its discovery in 1996,? added Argentex?s Ken Hicks. ?We look forward to reporting on our Phase Two exploration program, during which we plan to carry out detailed surface mapping. This will be combined with our database of geological, geochemical and geophysical information to define and refine additional targets.  The latter portion of our Phase Two program is expected to include additional drilling.?

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.

Argentex Mining Corporation
Investor Relations
[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. Forward looking statements made in this press release include, among others, comments regarding the company?s belief that its exploration program will continue to provide positive results and that phase two of that program on the Pinguino property will aid in the interpretation of the large scale structural and mineralogical features of the Pinguino property.  These forward-looking statements are subject to numerous risks and uncertainties, including 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.

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