Argentex fieldwork discovers 12 new mineralized veins at Pinguino, Santa Cruz, Argentina



    VANCOUVER, May 6 /CNW/ - Argentex Mining Corporation (TSX-V: ATX, OTCBB:
AGXM) is pleased to announce the results of a detailed field-mapping program
that was recently completed by the company's geologists at Pinguino. A total
of 14 additional line kilometers (8.7 additional line miles) of veins were
discovered in 12 new structures. Areas were selected for investigation based
upon a combination of anomalous multi-element soil geochemistry, IP
chargeability, and ground magnetics as well as extensions to existing
structures, including the Yvonne zone. One meter resolution IKONOS imagery was
used as a base for mapping and prospecting purposes.
    Mapped veins on the property now cover a combined strike length of 74
kilometers (45 miles) and mineralization has been proven to depth by drilling
in 15 of 47 zones. Results from this recent fieldwork include individual
samples with values of up to 2.5 grams per tonne (g/t) gold, 10% lead and
greater than 300 g/t silver, respectively.
    "Based on the significant geological interpretation, mapping and sampling
by our field crews we can now identify the subtle surface expression of the
weathered sulphide veins at Pinguino, which were not identified by previous
owners," said Ken Hicks, President of Argentex. "The preliminary results from
our 2009 field program are extremely encouraging, and present several new
targets from which to develop additional mineralization at depth and along
strike. We are currently completing our very first National Instrument
43-101-compliant resource estimate, which will be the next significant stage
in the company's development."

    Results

    The following table displays highlighted analytical results for 24 of 107
prospecting-style representative rock samples collected during the 2009
field-mapping program at Pinguino. Additional results are pending. Follow-up
trenching and channel sampling work is planned to determine the true width and
extent of the 12 newly discovered veins. A location map of the vein zones is
available on our web site:
http://www.argentexmining.com/12-Pinguino_veins.php.

    
    -------------------------------------------------------------------------
    Sample ID     Gold        Silver   Copper    Lead     Zinc        Indium
                 (ppm)         (ppm)    (ppm)   (ppm)    (ppm)         (ppm)
    -------------------------------------------------------------------------
    AREA: Kallia
    -------------------------------------------------------------------------
    504522       0.13           6.2     313.4  38100.0   3249.0         0.13
    -------------------------------------------------------------------------
    504523       0.10          10.0     118.9  15300.0   1603.0         0.85
    -------------------------------------------------------------------------
    504524       2.24          57.8    1038.4   8090.6   1458.0        20.36
    -------------------------------------------------------------------------
                                                                   less than
    504525       0.76           4.6      77.6   1984.0    431.0         0.02
    -------------------------------------------------------------------------
    504526       0.02          43.7     505.3   1875.5   1716.0         0.04
    -------------------------------------------------------------------------
    504527       0.40           8.7     320.2  11500.0    542.0         0.09
    -------------------------------------------------------------------------
    504528       0.01           0.9      26.2   1132.5    329.0         3.32
    -------------------------------------------------------------------------
    504529       0.28         183.0      80.2   3328.0    121.0         0.37
    -------------------------------------------------------------------------
    AREA: Moria
    -------------------------------------------------------------------------
    504533       0.01           1.7      28.8    750.4    102.0         0.15
    -------------------------------------------------------------------------
    504535       0.01           0.3      33.3    824.0     86.0         0.18
    -------------------------------------------------------------------------
    AREA: Monica
    -------------------------------------------------------------------------
    504538       0.42           9.3     227.0  25000.0    3208.0        2.55
    -------------------------------------------------------------------------
    504540       0.22          20.6     144.2  21000.0    1705.0        7.15
    -------------------------------------------------------------------------
    504541       0.08          24.5     400.5  98000.0    3225.0        4.74
    -------------------------------------------------------------------------
    AREA: Kimberly
    -------------------------------------------------------------------------
    504548       0.10           8.2     912.4  43200.0    3557.0      542.22
    -------------------------------------------------------------------------
    AREA: Kristina
    -------------------------------------------------------------------------
    504556       0.06           1.5      39.9     38.7      38.0        0.04
    -------------------------------------------------------------------------
    AREA: Yvonne
    -------------------------------------------------------------------------
    504547       0.39          33.8     283.8   18400.0   3402.0        2.49
    -------------------------------------------------------------------------
    AREAS: Silvina and Savary
    -------------------------------------------------------------------------
                       greater than
    504550       0.35           300     363.8   60200.0    355.0        1.32
    -------------------------------------------------------------------------
    504552       4.64         147.0     204.6    6203.5    666.0        0.43
    -------------------------------------------------------------------------
    AREAS: Nozi, Pamela and Aurora
    -------------------------------------------------------------------------
                                                                   less than
    504516       0.01           2.3      61.7     566.7    180.0        0.02
    -------------------------------------------------------------------------
    504517       0.03           0.1      45.7     726.5    469.0        0.05
    -------------------------------------------------------------------------
    AREA: Fantasma
    -------------------------------------------------------------------------
    504542       0.01           0.4      20.4      94.9    478.0        0.04
    -------------------------------------------------------------------------
    AREA: Trinda and Gladis
    -------------------------------------------------------------------------
    504543       0.02           2.5      21.9    2675.7     78.0        0.47
    -------------------------------------------------------------------------
    504551       0.04          15.7      94.3     743.8     88.0        0.09
    -------------------------------------------------------------------------
    AREA: Puchini
    -------------------------------------------------------------------------
                                                                   less than
    504557       0.01           0.1      25.3      13.6     55.0        0.02
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    

    About Pinguino

    Argentex's Pinguino property is located in Argentina's Patagonia region,
within the Deseado Massif of Santa Cruz province. The 2006 discovery of
silver-indium-zinc-lead-gold mineralization at Pinguino marked a major
exploration milestone for the company. This was the first discovery of its
kind in the region, unique in that it contains both silver-gold and
indium-enriched base-metal mineralization. This mineralization is contained in
multiple zones that remain open-ended along strike and to depth. Since 2006,
exploration of base-metal-rich targets has expanded beyond the initial
discoveries at Marta Centro and Yvonne and now encompasses 15 drill-tested
veins from more than 47 veins mapped on the property to date. Argentex has
drilled a total of 269 holes at Pinguino for a total of 30,000+ meters (98,000
feet).
    Indium, a significant component of Argentex's polymetallic discovery at
Pinguino, is a high-value metal used in flat-panel (LCD, plasma) displays, and
in leading-edge thin-film solar cell technology.
    Pinguino is easily accessible, situated approximately 400 meters (1,312
feet) above sea level in low-relief topography. An existing system of
all-weather roads provides year-round access to the property.

    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.

    ABOUT ARGENTEX:

    Argentex Mining Corporation is a junior mining exploration company with
significant holdings in the Patagonia region of Argentina. It holds an
undivided 100% interest in the mineral rights to the Pinguino property. In
total, the company owns 100% mineral rights to more than 35 properties with
approximately 307,981 acres (124,636 hectares) of prospective land located in
the Santa Cruz and Rio Negro provinces of Argentina. Shares of Argentex common
stock trade under the symbol AGXM on the OTCBB and on the TSX Venture Exchange
under the symbol ATX.

    Exploration on the Pinguino property is being conducted under the
supervision of Mr. Kenneth Hicks, P.Geo., Argentex's President and a
"qualified person" as defined by Canada's National Instrument 43-101. Mr.
Hicks has read and approved the contents of this release.

    
    Neither 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.
    

    Statements in this news release that are not historical facts are
forward-looking statements that are subject to risks and uncertainties. Words
such as "expects", "intends", "plans", "may", "could", "should",
"anticipates", "likely", "believes" and words of similar import also identify
forward-looking statements. Forward-looking statements are based on current
facts and analysis and on forecasts of future results, estimates of amounts
not yet determined and assumptions of management. Forward-looking statements
in this news release include statements about the company's belief the
preliminary results from our 2009 field program are extremely encouraging, and
present several new targets to expand the known resource base at Pinguino. We
are currently completing our very first National Instrument 43-101-compliant
resource estimate, which will be the next significant stage in the company's
development. Actual results may differ materially from those currently
anticipated due to a number of factors beyond the Company's control. These
risks and uncertainties include, among other things, competition for qualified
personnel and risks that are inherent in Argentex's operations including the
risk that the Company may not find any minerals in commercially feasible
quantity or raise funds sufficient to prosecute its exploration plans. These
and other risks are described in the Company's Annual Report on Form 10-K and
other filings with the Securities and Exchange Commission.





For further information:

For further information: Ken Hicks, President, Argentex Mining
Corporation, 1-866-594-7687, info@argentexmining.com

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ARGENTEX MINING CORPORATION

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