Argentex Discovers New Gold Mineralization at Pinguino

VANCOUVER, BC - Argentex Mining Corporation reported additional drill results from its recently completed 2011 exploration program at the Pinguino project, located in the Santa Cruz province of Argentina. The program consisted of 19,800 meters of drilling in 206 holes. To date, the Company has released 7,167 meters of drilling results from 82 of these holes, with approximately 60% of holes remaining to be processed in the lab and released over the next couple of months. Results are from the most recent 15 holes from the Ivonne vein.
"Drilling results from preliminary testing of the 2,300 meter long Ivonne vein include multi-gram gold grades in near-surface as well as one intersection below 250m at depth. The results show a good consistency of gold mineralization from surface to depth, confirmed with both core and RC testing," said Ken Hicks, President. "The deepest intersection in these results returned 1.60 meters averaging 7.74 g/t Au and 63.5 g/t Ag. These robust gold numbers from this relatively unexplored vein show the excellent potential for precious metal mineralization at Pinguino."
The Ivonne vein runs approximately parallel to the Marta Centro-Marta Sur veins group, and represents an example of the higher temperature, gold-rich veins that are also contained within the district scale vein swarm centered at Pinguino.
Argentex's 10,000-hectare Pinguino property is located in Argentina's Patagonia region, within the Deseado Massif of Santa Cruz province. The Deseado Massif is an active region of mining with four precious metal mines currently in production, and includes multiple active advanced and early stage exploration projects.
Pinguino is easily accessible, situated approximately 400 meters above sea level in low-relief topography. An existing system of all-weather roads provides year-round access to the property. Argentex believes that recent high-grade precious metal discoveries within newly tested structures of the district scale vein system at Pinguino show potential for the development of a significant silver-gold resource.