Argex provides drilling update

    
    - Intersection of up to 161m of massive titaniferous magnetite
    - 1452 m completed in 10 holes
    - Current program planned for 13,000 m of drilling
    

MONTREAL, March 1 /CNW Telbec/ - Argex Silver Capital Inc. (TSX-V:RGX) ("Argex" or the "Company") reports drilling has successfully intersected titaniferous magnetite at the La Blache property, West Hervieux occurrence. Massive titaniferous magnetite was intersected in eight of the ten drill holes completed to date. The widest massive titaniferous magnetite intersection to date was 161.25 m in hole HW-10-001. All results are drill intersections along the length of the core and may not be representative of the true thickness. See the intersection table below:

    
    -------------------------------------------------------------------------
                               Length     Hole
     HOLE No.    From    To  along core  length      Description of the
                                 (m)      (m)     mineralized intersection
    -------------------------------------------------------------------------
    HW-10-001    7.50  168.75    161      200  Massive Titaneferous Magnetite
    -------------------------------------------------------------------------
    HW-10-002   12.00   17.45      5       99  Massive Titaneferous Magnetite
    -------------------------------------------------------------------------
    HW-10-003    9.40   95.20     86           Massive Titaneferous Magnetite
    ------------------------------------      -------------------------------
    HW-10-003  130.50  150.30     20      198  Massive Titaneferous Magnetite
    ------------------------------------      -------------------------------
    HW-10-003  164.45  171.00      7           Massive Titaneferous Magnetite
    -------------------------------------------------------------------------
    HW-10-004   39.80   77.30     38      111  Massive Titaneferous Magnetite
    -------------------------------------------------------------------------
    HW-10-005            NSV              162
    -------------------------------------------------------------------------
    HW-10-006   13.00   38.60     26           Massive Titaneferous Magnetite
    ------------------------------------      -------------------------------
    HW-10-006   47.10   97.00     50      150  Massive Titaneferous Magnetite
    ------------------------------------      -------------------------------
    HW-10-006  119.25  124.50      5           Massive Titaneferous Magnetite
    -------------------------------------------------------------------------
    HW-10-007   10.00  131.50    122      139  Massive Titaneferous Magnetite
    -------------------------------------------------------------------------
    HW-10-008   34.85  106.90     72           Massive Titaneferous Magnetite
    ------------------------------------  144 -------------------------------
    HW-10-008  114.60  134.80     20           Massive Titaneferous Magnetite
    -------------------------------------------------------------------------
    HW-10-009   58.20   74.35  16.15       99  Massive Titaneferous Magnetite
    -------------------------------------------------------------------------
    HW-10-010            NSV              150
    -------------------------------------------------------------------------
    *NSV - No Significant Values
    

Drilling on the La Blache Properties has now seen 10 holes totalling 1452 metres completed at the West Hervieux occurrence. A total of 6000m is currently planned for the West Hervieux occurrence. Once drilling is complete on the West Hervieux Occurrence, a 7000m drill program is planned to commence on the East Hervieux occurrence, located approximately 2 km east and 1.25 km north of the West Hervieux Occurrence.

A summary of drillhole collar information is provided below:

    
    -------------------------------------------------------------------------
    HOLE         EASTING    NORTHING  ELEVATION  AZIMUTH      DIP    LENGTH
                   (m)         (m)       (m)      (deg)      (deg)     (m)
    -------------------------------------------------------------------------
    HW-10-001     451912     5543595        508      185      -52       200
    -------------------------------------------------------------------------
    HW-10-002     451909     5543595        501      334      -50        99
    -------------------------------------------------------------------------
    HW-10-003     451846     5543555        509      154      -50       198
    -------------------------------------------------------------------------
    HW-10-004     451846     5543555        509      334      -87       111
    -------------------------------------------------------------------------
    HW-10-005     451846     5543555        509      334      -50       162
    -------------------------------------------------------------------------
    HW-10-006     451773     5543504        510      154      -50       150
    -------------------------------------------------------------------------
    HW-10-007     451773     5543504        510      154      -70       139
    -------------------------------------------------------------------------
    HW-10-008     451631     5543413        517      154      -50       144
    -------------------------------------------------------------------------
    HW-10-009     451631     5543413        517      154      -70        99
    -------------------------------------------------------------------------
    HW-10-010     451686     5543329        540      154      -50       150
    -------------------------------------------------------------------------
    

These first holes are designed to determine the geometry of the deposit and better refine the remaining drillholes planned for the West Hervieux occurrence which explains the variation in thickness of mineralized zone. Titaniferous Magnetite was encountered in all holes in the current campaign with the exception of hole HW-10-005 and HW-10-010. Samples are currently out for analysis and once results have been received by the Company, a drilling update with these results will be issued..

Photos of the drill core for hole HW-10-001 as well as geological sections will be posted on the Company's website shortly (www.argex.ca).

Below is exerts from the December 4, 2008 NI 43-101 Technical Report covering the Mouchalagane and La Blache Properties. This report is available for review at www.sedar.com under the company profile for Argex Silver Capital Inc., and filed on April 15, 2009, as well as at www.argex.ca.

"In 1954, three claim blocks held by the Bersimis Mining were visited by the Ressources naturelles et de la Faune du Québec (MNRFQ) (GM03107). The MRNFQ published a report and map jointly with Bersimis Mining that located and described the East Hervieux and West Hervieux occurrences (RP374) revealing the presence of medium to coarse grained magnetite in anorthosite. According to estimates made by Bersimis Mining at the time "these deposits contained 135,000,000 tons of ore up to a depth of 300 feet. It is reported that the average content of the ore is of 49 percent iron and 21 percent of TiO2." This estimate is historical in nature, non-compliant to NI 43-101 Mineral Resources and Mineral Reserves, and therefore should not be relied upon, but should only be considered as an indication of the iron-titanium mineral potential and not necessarily indicative of the mineralization on the La Blache Property.

The drill program was planned and is being supervised by Jean-Sébastien Lavallée, P.Geo, Vice-Président Exploration, Consul-Teck Exploration Inc., of Val d'or, Québec, Argex's Silver Capital Inc. consulting geologist, as well as reviewing and approving this release. The drilling is being completed Major Drilling Group International Inc, with crews being based out of the Val d'or, Québec office.

About Argex

Argex is a junior titanium, iron, vanadium and magnesium explorer with projects in Quebec, Canada . Headquartered in Montreal, Quebec, the Company is committed to the interests of its shareholders, with plans to rapidly advance towards titanium production at the 100% owned La Blache deposit 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 Titanium Inc.

For further information: For further information: Michael Dehn, President and CEO, Argex Silver Capital Inc, (647) 477-2382, michael@avantimac.com; Paradox Public relations, (514) 341-0408, 1-866-460-0408

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Argex Titanium Inc.

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