VANCOUVER, March 18 /CNW/ - Argentex Mining Corporation (TSX-V: ATX, OTCBB: AGXM) is pleased to announce that, on March 16, 2010, its President Kenneth E. Hicks exercised the last 450,000 of the 750,000 share purchase warrants originally acquired by him in a private placement on January 15, 2009. After adjusting for this exercise, Mr. Hicks owns approximately 5.9% of the company's issued and outstanding shares.
"I can't think of a better way to demonstrate my confidence in Argentex and its exceptional portfolio of mineral properties in Argentina than by increasing my personal investment in the company," said Mr. Hicks.
Drilling is ongoing at Argentex's flagship Pinguino project, which hosts the largest known undeveloped vein system in Santa Cruz province after the developed AngloGold Ashanti Cerro Vanguardia mine. Results for many holes are pending and will be reported following receipt and compilation.
Argentex Mining Corporation is a Delaware corporation. It is a junior mining company in the exploration stage with significant holdings in the Patagonia region of Argentina. 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, including the Pinguino property. 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. Mr. Hicks is not considered independent of the issuer.
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.
SOURCE ARGENTEX MINING CORPORATION
For further information: For further information: Ken Hicks, President, Argentex Mining Corporation, 1-866-594-7687, firstname.lastname@example.org