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Message: Argentex Drills 5.76 Meters Grading 675.7 g/t Ag and 5.99 g/t Au within oxide zo


Argentex has now completed 18,673 meters of drilling to-date in the 2011 program with a total of 201 holes. Results below are from the most recent 16 holes from the Marta Este, Marta Sur and Marta Centro veins:

Drill HoleFrom
(m)To
(m)Interval
(m)*Gold
(g/t)Silver
g/t
Marta Este vein
P369-11 27.77 89.56 61.79 0.94 88.8
including 82.80 88.56 5.76 5.99 675.7
P370-11 94.10 149.40 55.30 0.10 11.3
including 94.10 97.10 3.00 0.46 63.7
and including 132.60 135.05 2.45 0.33 35.8
and including 147.00 149.40 2.40 0.60 61.8
Marta Sur vein
P371-11 37.20 55.00 17.80 1.14 38.8
including 37.20 38.80 1.60 6.03 10.5
and including 49.40 52.90 3.50 2.46 58.5
P372-11 43.30 49.00 5.70 0.02 22.2
Marta Centro vein
PR091-11 10.00 39.00 29.00 1.33 92.9
including 12.00 21.00 9.00 3.83 271.3
PR092-11 11.00 50.00 39.00 0.34 41.4
including 11.00 22.00 11.00 1.03 112.7
PR098-11 9.00 16.00 7.00 0.26 16.1
PR100-11 12.00 19.00 7.00 0.07 23.7
PR101-11 2.00 21.00 19.00 0.52 17.4
including 14.00 15.00 1.00 6.35 126.0
PR103-11 2.00 26.00 24.00 0.41 47.9
including 12.00 13.00 1.00 3.21 322.0
PR104-11 5.00 23.00 18.00 0.16 29.4
including 18.00 19.00 1.00 0.95 111.0
P375-11 307.40 322.40 15.00 0.51 34.1
including 315.00 317.40 2.40 2.74 101.4
P376-11 282.40 304.26 21.86 0.05 16.1
including 297.70 303.12 5.42 0.12 36.6
P377-11 24.15 86.80 62.65 0.13 21.4
including 24.15 36.80 12.65 0.33 63.0
and including 30.00 33.00 3.00 0.72 138.0
P386-11 63.45 77.45 14.00 0.08 19.8
including 75.45 77.45 2.00 0.39 60.7
P387-11 88.60 120.75 32.15 0.07 13.8
including 119.55 120.75 1.20 0.16 56.2
*True widths are estimated to be 85-90% of the stated interval
"P" represents core holes, "PR" represents RC holes


"The discovery of high-grade silver and gold values within the near-surface oxide zone in the upper portions of mineralized veins, which we previously thought of as only primarily polymetallic mineralization, has opened up the precious metal potential of the entire property", commented Ken Hicks, President of Argentex. "We continue to expand this core of high grade mineralization. In many cases, this high grade mineralization is surrounded by a larger envelope of plus 1 gram gold-equivalent mineralization, which is also very promising. For these reasons, we have expanded our original drilling program to continue to test these zones further along strike and to depth."

Results

The table above displays selected analytical results from a total of 16 reverse circulation and core holes; 2 holes from Marta Este, 2 holes from Marta Sur and 12 holes from Marta Centro. A map of drill hole collars is available on our web site at www.argentexmining.com.

In addition, between May 20 and May 24, 2011 one of the Company's investors exercised share purchase warrants pursuant to which it purchased 500,000 of the Company's common shares at an exercise price of $0.15 share for aggregate gross proceeds of $75,000 and two of its investors exercised share purchase warrants pursuant to which they purchased an aggregate of 70,000 of the Company's common shares at an exercise price of CDN$0.90 share for aggregate gross proceeds of approximately $64,400 (CDN$63,000).

About Pinguino

Argentex's Pinguino property is located in Argentina's Patagonia region, within the Deseado Massif of Santa Cruz province. Argentex believes that recent high-grade silver discoveries within newly tested structures of the district scale vein system at Pinguino show potential for the development of a significant silver resource.

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.

Quality Assurance

Samples selected for analysis are sent to Acme Analytical Laboratories' sample preparation lab in Mendoza, Argentina. From there, sample pulps are sent to Santiago, Chile for fire assay gold analysis and to Vancouver, Canada for Group 1DX multi-element MS-ICP analysis. Samples with over-limit zinc, lead, silver and/or copper are reanalyzed using an ore-grade high detection limit 7AR analysis, also conducted in Vancouver. Acme Analytical Laboratories is an accredited ISO 9000:2001 full-service commercial laboratory with its head office in Vancouver. Referee analyses will be carried out by Alex Stewart (assayers) Argentina S.A. in Mendoza, Argentina. Argentex, Acme and Alex Stewart all maintain comprehensive and independent Quality Control/Quality Assurance programs.

Exploration on the Pinguino property is being conducted under the supervision of Mr. Kenneth Hicks, P.Geo. Argentex's President and a "Qualified Person" (QP) as defined by Canada's National Instrument 43-101.
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