ARGEX MINING INITIATES ENVIRONMENTAL IMPACT STUDY ON THE MOUCHALAGANE IRON PROPERTY

  • Environmental Impact Study contract awarded to GENIVAR Inc. of Montreal, Quebec

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

MONTREAL, April 7 /CNW Telbec/ - Argex Mining Inc. (Argex) (TSXV: RGX) (FSE: ASV) (OTCBB: ARGEF) reports that it has awarded a contract to GENIVAR Inc. of Montreal, Quebec, to complete an Environmental Impact Study for Argex's Mouchalagane Iron Property. The EIS is anticipated to take approximately two years to complete and will outline all environmental concerns and constraints for expected production from Argex's Mouchalagane Iron Property.

"The start of the Environmental Impact Study is in line with the aggressive exploration and engineering work Argex has completed on the La Blache Titanium, Vanadium and Iron Property in the past 14 months. The completion of the Environmental Impact Study and an accelerated exploration plan that we anticipate to commence in the summer of 2012 will allow us to complete exploration, permitting and preliminary economic assessment by early 2013," said Argex's President and CEO Michael Dehn.

Historical drilling and metallurgical work on the Mouchalagane Iron Project, along with recent airborne geophysics and site visit to the property have given Argex's management the confidence to proceed with the Environmental Impact Study. A final drilling proposal is expected to be completed in the coming months with further information on the plans being announced once the final planning work is complete.

The Environmental Impact Study will cover:

  • Climate and Air Quality
  • Noise and Vibrations
  • Hydrological and Hydraulic Conditions
  • Water, Sediments, Benthos and Soil Quality
  • Hydrogeology
  • Geology and Geomorphology
  • Vegetation
  • Habitat, Terrestrial and Avian Fauna
  • Habitats and Fauna in the Aquatic and Semi-Aquatic Environment
  • Land Use
  • Economic and Social Environment including First Nations
  • Archaeology and Heritage
  • Landscape

A flow-chart and Tentative Schedule for the Mouchalagane Iron Project is available at:

http://argex.ca/misc/ods.pdf

About GENIVAR

GENIVAR is a leading Canadian engineering services firm providing private and public-sector clients with a comprehensive range of professional consulting services throughout all project phases, including planning, design, construction and maintenance. Ranging in size and scope, GENIVAR's clients primarily operate in the building, industrial and energy, municipal infrastructure, transportation and environmental sectors. GENIVAR is one of Canada's largest engineering services firms based on number of employees, with more than 4,500 managers, professionals, technicians and technologists and support staff in more than 85 locations in Canada and internationally. www.genivar.com

About Argex

ARGEX MINING INC. is transitioning from a titanium, iron and vanadium explorer to a development company with projects in Quebec, Canada. The Company is committed to its strategic plan of rapidly advancing towards profitable production at its 100% owned La Blache deposits located near Baie-Comeau, Quebec. For additional information please visit our website at www.argex.ca.

Forward-Looking Statements

This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE ARGEX MINING INC.

For further information:

Michael Dehn, President and CEO
Argex Mining Inc. 
647-477-2382 
michael@avantimac.com

Or

Paradox Public relations at 514-341-0408 or 1-866-460-0408

Profil de l'entreprise

ARGEX MINING INC.

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