ARGEX'S EAST HERVIEUX TARGET DEMONSTRATES COMPARABLE RESULTS WITH WEST HERVIEUX TARGET

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

  • Significant new results include:
    • 60.20 m of  0.43% V2O5, 65.19% Fe2O3 and 19.17% TiO2
    • 42.70 m of  0.41% V2O5,  62.31% Fe2O3 and 18.33% TiO2
    • 42.00 m of  0.41% V2O5,  64.78% Fe2O3 and 18.45% TiO2
    • 48.20 m of  0.37% V2O5,  62.49% Fe2O3 and 17.16% TiO2
    • 47.82 m of  0.41% V2O5,  64.08% Fe2O3 and 18.67% TiO2
    • 43.83 m of  0.39% V2O5,  62.66% Fe2O3 and 17.38% TiO2
    • 43.81 m of  0.41% V2O5,  62.62% Fe2O3 and 18.58% TiO2

MONTREAL, May 12 /CNW Telbec/ - Argex Mining Inc. (Argex) (TSXV: RGX) (FSE: ASV) (OTCBB: ARGEF) reports final results intersected from drilling at the La Blache property, East Hervieux target. Results from the drilling are being included in a National Instrument 43-101 compliant technical report on the mineral resource estimate for the La Blache Project currently being completed by Met-Chem Canada Inc of Montreal, Quebec. Significant titanium, iron and vanadium mineralization was interested in the East Hervieux drilling.

Drilling on East Hervieux was carried out in two phases. Phase I consisted of holes HE-10-001 to HW-10-076, a total of 77 holes. Selected results are available in Table 1 below. A complete list of results from East Hervieux is available at the end of this release in Table 2.

Table 1: Selected intersections from East Hervieux

HOLE # From
(m)
Length
along
core
(m)
Fe (%) Ti (%) V (%) Fe2O3
(%)
TiO2
(%)
V2O5
(%)
*HE-10-001 57.80 91.20 44.67 11.42 0.30 63.87 19.05 0.53
*HE-10-004 23.00 43.00 44.94 11.17 0.27 64.25 18.63 0.48
HE-10-005 87.00 48.30 41.81 10.48 0.21 59.78 17.48 0.37
HE-10-006 65.00 53.00 42.31 10.22 0.20 60.49 17.05 0.36
HE-10-015 58.00 42.00 41.66 9.99 0.20 59.56 16.66 0.36
HE-10-017 4.00 47.00 43.23 10.62 0.22 61.81 17.72 0.39
HE-10-031 11.50 42.00 45.31 11.06 0.23 64.78 18.45 0.41
HE-10-032 5.50 43.00 40.83 10.26 0.21 58.37 17.11 0.37
HE-10-033 59.30 43.10 43.81 11.14 0.23 62.64 18.58 0.41
HE-10-036 5.30 53.20 43.83 10.42 0.22 62.66 17.38 0.39
HE-10-038 30.40 48.60 42.20 10.73 0.20 60.33 17.90 0.36
HE-10-047 5.10 53.40 39.97 9.84 0.20 57.15 16.41 0.36
HE-10-048 67.40 44.60 44.82 11.19 0.23 64.08 18.67 0.41
HE-10-055 149.00 58.60 36.94 9.07 0.18 52.81 15.13 0.32
HE-10-057 189.70 48.20 43.71 10.29 0.21 62.49 17.16 0.37
HE-10-057 189.70 53.30 41.71 9.82 0.20 59.63 16.38 0.36
HE-10-062 83.00 53.70 42.25 10.55 0.22 60.40 17.60 0.39
HE-10-062 74.30 62.40 41.07 10.21 0.22 58.72 17.03 0.39
HE-10-063 47.30 60.20 45.60 11.49 0.24 65.19 19.17 0.43
HE-10-064 243.00 54.50 42.03 10.49 0.21 60.09 17.50 0.37
HE-10-065 246.70 47.30 42.23 10.26 0.21 60.38 17.11 0.37
HE-10-067 233.20 54.70 35.60 8.94 0.19 50.90 14.91 0.34
HE-10-070 59.50 42.70 43.58 10.99 0.23 62.31 18.33 0.41

*previously released, final assay

The well mineralized zone runs for a minimum 950 metres strike length, from surface to a minimum depth of 250 metres below surface, with the zone remaining open at depth.

"The results from the East Hervieux are complimentary to those previously released from West Hervieux and the homogeneity of the mineralized zones" comments Argex's President and CEO Michael Dehn. "With the more than 10% increase in titanium dioxide prices in the market since the start of the year, Argex is well positioned to take advantage of the price increases with the La Blache property and the Canadian Titanium Limited technology."

A drill plan of the holes, as well as cross sections can be viewed at:
http://www.argex.ca/la-blache_east_hervieux.php

On the La Blache Property, the first outcrops of titaniferous magnetite found in an anorthosite were discovered at Schmoo Lake in 1952 by Anglo-Canadian Pulp and Paper Mills Ltd., which later founded the Bersimis Mining Company. From 1951 to 1954, the Bersimis Mining Company performed airborne and ground dip-needle magnetic surveys, geological mapping, surface sampling and assaying, as well as metallurgical testing. Four iron lenses distributed over a distance of 15 kilometres were identified: West Hervieux, East Hervieux, Schmoo Lake and La Blache East. This was followed by twenty (20) exploration drill holes done in 1964 which showed several intersections of major strength containing more than 45% Fe and 15% TiO2.

In 2009, work carried out by Argex consisted of a helicopter-borne survey of the La Blache Property. This 418.5-line-kilometre survey conducted in November 2009 by Géophysics GPR International of Longueuil, Québec, consisted of a magnetic, electromagnetic (VLF) and spectrometric survey. Based on analysis of the survey results, Argex decided to carry out a diamond drilling program on the showings in the East Hervieux and West Hervieux.

A total of 20,294 metres were drilled on the La Blache Property, including 10,936 metres on East Hervieux and 9,358 metres on West Hervieux. The drilling campaign was aimed at confirming the historical values of the 1964 drilling campaign. The two mineralized zones on the La Blache Property are made up of massive titaniferous magnetite, black in colour, with a high density of around 4.5. Greenish, semi-massive zones are also found, likely consisting of serpentine. The host rock is an anorthosite containing over 90% labradorite crystals and/or gabbroic anorthosites richer in amphibolites and/or pyroxenes. The iron content ranges from 35% to 47% Fe, titanium from 7% to 12% Ti and vanadium from 0.17% to 0.30% V.

The drill program was planned and is being supervised by Jean-Sébastien Lavallée, P.Geo (OGQ #773), Consul-Teck Exploration Inc., of Val d'or, Québec, Argex Mining Inc.'s consulting geologist and qualified person since 2007, as well as reviewing and approving this release. The drilling is being completed by Major Drilling Group International Inc, with crews being based out of the Val d'or, Québec office. Samples were sent for analysis in sealed containers to the Chemex laboratory in Val-d'Or by employees of Consul-Teck Exploration Inc.  Chemex is the laboratory used for analysis of all samples from programs on the La Blache property.  The samples are weighed and identified prior to sample preparation.  The samples are crushed to 70% minus 2 mm, then separation and pulverized to 85% passing 75 μm.  All samples are analyzed using ICP-81 (Iron-Titanium) and using ME-XRF-10 for Vanadium.

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.

TABLE 2: All results are drill intersections along the length of the core and may not be representative of the true thickness. See the intersection and results table below (all results are final):

HOLE # From Length
along core
(m)
Fe (%) Ti (%) V (%) Fe2O3
(%)
TiO2
(%)
V2O5
(%)
*HE-10-001 3.00 5.40 46.97 11.45 0.34 67.16 19.09 0.61
*HE-10-001 57.80 91.20 44.67 11.42 0.30 63.87 19.05 0.53
*HE-10-001 210.00 21.00 39.96 9.11 0.21 57.14 15.19 0.38
*HE-10-001 261.00 6.00 47.27 11.83 0.34 67.58 17.73 0.60
*HE-10-002 Hole Abandoned            
*HE-10-003 61.00 6.00 45.61 11.47 0.31 65.21 19.13 0.56
*HE-10-003 139.00 2.00 40.05 9.91 0.22 57.26 16.43 0.39
*HE-10-004 14.00 6.00 36.23 10.30 0.17 51.80 17.18 0.29
*HE-10-004 23.00 43.00 44.94 11.17 0.27 64.25 18.63 0.48
HE-10-005 87.00 48.30 41.81 10.48 0.21 59.78 17.48 0.37
HE-10-005 143.45 2.00 44.51 11.31 0.24 63.64 18.87 0.43
HE-10-006 65.00 53.00 42.31 10.22 0.20 60.49 17.05 0.36
HE-10-006 127.00 8.00 40.34 10.09 0.22 57.67 16.83 0.39
HE-10-007 25.00 9.50 41.13 10.82 0.21 58.80 18.05 0.37
HE-10-008 89.00 8.50 45.98 11.64 0.26 65.74 19.42 0.46
HE-10-009 138.60 23.60 44.66 11.38 0.24 63.85 18.98 0.43
HE-10-010 74.60 34.20 41.89 10.75 0.24 59.89 17.93 0.43
HE-10-011 NSV              
HE-10-012 86.00 0.40 47.80 11.60 0.26 68.34 19.35 0.46
HE-10-013 NSV              
HE-10-014 NSV              
HE-10-015 58.00 42.00 41.66 9.99 0.20 59.56 16.66 0.36
HE-10-016 37.00 23.00 38.48 9.44 0.20 55.01 15.75 0.36
HE-10-017 4.00 47.00 43.23 10.62 0.22 61.81 17.72 0.39
HE-10-018 68.00 14.00 21.21 5.14 0.10 30.32 8.57 0.18
HE-10-019 23.00 8.00 40.89 9.41 0.19 58.46 15.70 0.34
HE-10-019 37.00 10.00 42.27 10.93 0.23 60.43 18.23 0.41
HE-10-020 27.00 35.00 33.12 8.56 0.19 47.35 14.28 0.34
HE-10-021 30.00 33.00 41.54 10.77 0.23 59.39 17.97 0.41
HE-10-022 88.40 4.90 45.01 11.97 0.25 64.35 19.97 0.45
HE-10-023 35.80 9.90 42.41 10.94 0.21 60.63 18.25 0.37
HE-10-024 23.30 7.90 40.63 10.03 0.21 58.09 16.73 0.37
HE-10-025 6.40 37.80 41.23 10.37 0.21 58.95 17.30 0.37
HE-10-025 51.50 5.30 45.09 11.67 0.25 64.47 19.47 0.45
HE-10-026 NSV              
HE-10-027 6.00 25.60 43.29 10.97 0.23 61.89 18.30 0.41
HE-10-027 39.20 1.40 24.98 7.42 0.15 35.71 12.38 0.27
HE-10-027 50.70 2.30 44.19 11.37 0.29 63.18 18.97 0.52
HE-10-028 5.20 12.40 40.55 10.26 0.20 57.97 17.11 0.36
HE-10-029 9.80 1.20 32.20 7.64 0.14 46.04 12.74 0.25
HE-10-029 19.90 22.10 44.51 11.96 0.24 63.64 19.95 0.43
HE-10-030 NSV              
HE-10-031 11.50 42.00 45.31 11.06 0.23 64.78 18.45 0.41
HE-10-032 5.50 43.00 40.83 10.26 0.21 58.37 17.11 0.37
HE-10-032 65.70 1.30 39.30 10.60 0.22 56.19 17.68 0.39
HE-10-033 59.30 43.10 43.81 11.14 0.23 62.64 18.58 0.41
HE-10-034 NSV              
HE-10-035 6.70 21.00 38.98 10.22 0.19 55.73 17.05 0.34
HE-10-036 5.30 53.20 43.83 10.42 0.22 62.66 17.38 0.39
HE-10-037 NSV              
HE-10-038 30.40 48.60 42.20 10.73 0.20 60.33 17.90 0.36
HE-10-039 20.70 19.70 46.09 11.79 0.24 65.89 19.67 0.43
HE-10-040 117.10 6.10 48.03 12.43 0.25 68.67 20.73 0.45
HE-10-041 114.50 6.30 48.89 12.40 0.26 69.90 20.68 0.46
HE-10-042 103.50 8.80 45.73 11.98 0.25 65.38 19.98 0.45
HE-10-043 106.00 4.80 45.61 11.81 0.22 65.21 19.70 0.39
HE-10-044 96.90 3.30 46.72 11.55 0.25 66.80 19.27 0.45
HE-10-045 94.80 4.20 44.33 11.19 0.22 63.38 18.67 0.39
HE-10-046 87.60 2.20 41.11 9.06 0.18 58.77 15.11 0.32
HE-10-047 5.10 53.40 39.97 9.84 0.20 57.15 16.41 0.36
HE-10-047 62.70 3.50 47.99 11.70 0.27 68.61 19.52 0.48
HE-10-048 67.40 44.60 44.82 11.19 0.23 64.08 18.67 0.41
HE-10-049 32.60 38.70 43.31 10.85 0.21 61.92 18.10 0.37
HE-10-050 13.60 30.00 45.33 10.99 0.23 64.81 18.33 0.41
HE-10-050 73.20 7.30 45.19 12.39 0.26 64.61 20.67 0.46
HE-10-050 91.00 1.10 45.50 12.10 0.26 65.05 20.18 0.46
HE-10-051 10.30 3.50 46.49 11.95 0.25 66.47 19.93 0.45
HE-10-052 NSV              
HE-10-053 98.90 3.20 46.23 11.69 0.23 66.10 19.50 0.41
HE-10-053 115.50 2.60 46.83 11.61 0.24 66.95 19.37 0.43
HE-10-054 NSV              
HE-10-055 149.00 31.10 42.40 10.32 0.20 60.62 17.21 0.36
HE-10-055 185.90 15.90 42.39 10.61 0.22 60.60 17.70 0.39
HE-10-055 204.20 3.40 43.87 11.11 0.23 62.72 18.53 0.41
HE-10-055 149.00 58.60 36.94 9.07 0.18 52.81 15.13 0.32
HE-10-056 92.70 34.60 41.26 9.79 0.19 58.99 16.33 0.34
HE-10-056 136.70 24.00 45.28 11.53 0.25 64.74 19.23 0.45
HE-10-057 189.70 48.20 43.71 10.29 0.21 62.49 17.16 0.37
HE-10-057 241.00 2.00 46.65 11.20 0.25 66.70 18.68 0.45
HE-10-057 189.70 53.30 41.71 9.82 0.20 59.63 16.38 0.36
HE-10-058 Hole Abandoned            
HE-10-058A 157.40 3.70 36.33 7.44 0.14 51.94 12.41 0.25
HE-10-058A 164.20 23.10 40.75 10.39 0.21 58.26 17.33 0.37
HE-10-059 127.00 15.10 40.36 8.98 0.18 57.70 14.98 0.32
HE-10-059 152.80 7.50 46.86 11.51 0.25 67.00 19.20 0.45
HE-10-060 168.70 38.10 42.28 10.43 0.22 60.45 17.40 0.39
HE-10-061 NSV              
HE-10-062 74.30 7.50 38.03 9.31 0.19 54.37 15.53 0.34
HE-10-062 83.00 53.70 42.25 10.55 0.22 60.40 17.60 0.39
HE-10-062 74.30 62.40 41.07 10.21 0.22 58.72 17.03 0.39
HE-10-063 47.30 60.20 45.60 11.49 0.24 65.19 19.17 0.43
HE-10-064 243.00 54.50 42.03 10.49 0.21 60.09 17.50 0.37
HE-10-065 246.70 47.30 42.23 10.26 0.21 60.38 17.11 0.37
HE-10-066 NSV              
HE-10-067 233.20 15.80 44.10 11.14 0.24 63.05 18.58 0.43
HE-10-067 253.00 6.90 40.55 10.37 0.23 57.97 17.30 0.41
HE-10-067 264.70 23.20 39.86 10.00 0.22 56.99 16.68 0.39
HE-10-067 233.20 54.70 35.60 8.94 0.19 50.90 14.91 0.34
HE-10-068 165.40 30.50 43.13 10.94 0.23 61.66 18.25 0.41
HE-10-069 166.30 21.00 45.19 11.52 0.25 64.61 19.22 0.45
HE-10-070 23.00 7.30 37.86 9.81 0.18 54.13 16.36 0.32
HE-10-070 34.20 3.20 37.36 9.82 0.19 53.41 16.38 0.34
HE-10-070 59.50 37.90 46.11 11.58 0.24 65.92 19.32 0.43
HE-10-070 100.30 1.90 46.69 12.57 0.25 66.75 20.97 0.45
HE-10-070 23.00 14.40 33.18 8.28 0.15 47.44 13.81 0.27
HE-10-070 59.50 42.70 43.58 10.99 0.23 62.31 18.33 0.41
HE-10-071 147.00 8.00 31.39 10.00 0.09 44.88 16.68 0.16
HE-10-071 196.00 3.00 25.97 8.71 0.06 37.13 14.53 0.11
HE-10-072 NSV              
HE-10-073 NSV              
HE-10-074 41.10 35.20 45.33 11.57 0.24 64.81 19.30 0.43
HE-10-075 53.20 3.60 38.77 9.51 0.21 55.43 15.86 0.37
HE-10-076 NSV              

*previously released, final assay
NSV - No Significant Values

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

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