ARGEX'S LA BLACHE ARCHAELOGICAL STUDY COMPLETED

  • No archaeological, heritage or cultural sites found that may otherwise impede development.

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

MONTREAL, June 22, 2011 /CNW Telbec/ - Argex Mining Inc. (Argex) (TSXV: RGX) (FSE: ASV) (OTCBB: ARGEF) announced today the completion of the preliminary aboriginal issues, archaeological and sites of interest study conducted for its 100% owned La Blache property. This study was conducted by Genivar Inc. (Genivar). one of Canada's leading environmental engineering firms in collaboration with the Innu of Pessamit. The proposed La Blache mine is located on the Nitassinan of Pessamit, a territory of 255.4 km2.

The study's purpose was to identify the location of any archaeological sites at or near the proposed mine site, pipeline corridor and industrial sites and to propose alternatives if required. The study will form an important part of the baseline environmental study which will be included in the Argex's NI 43-101 Preliminary Economic Assessment.

A total of 145 archaelogical heritage sites have been identified in the southern section of the Nitassinan of Pessamit territory (banque de l'inventaire des sites archéologiques du Québec) . Most sites are located on the coastline  and near the mouths of rivers or in the lower sections of the major rivers. A prehistoric Indian site (DlEl-1) was discovered at the mouth of the Praslin River southwest of the La Blâche mine site.

No archaelogical sites have been identified either by this study or by the Innu of Pessamit on Argex's proposed mine site, pipeline route or industrial sites reviewed in the study. Nor was there any evidence of any significant heritage or cultural sites on  the propsosed mine site, pipeline corridor or industrial site.

In other news, on June 20, 2011, Argex issued 3,100,000 incentive stock options. Officers and directors of Argex were granted 2,250,000 incentive stock options. The balance of the stock options was issued to consultants of the Company. These incentive stock options are exercisable at $0.445 with an expiry date of June 20, 2016.

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 Mining Inc.

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.

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:

Roy Bonnell, President and Chief Executive Officer
Argex Mining Inc.
514-928-5933
roy@argex.ca

or

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

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ARGEX MINING INC.

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