ARGEX ENGAGES BAA INC. TO COMPLETE A SCOPING STUDY ON ITS LA BLACHE PROPERTY

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

MONTREAL, Jan. 27 /CNW Telbec/ - Argex Mining Inc. (Argex) (TSX-V: RGX) (FSE: ASV) (OTCBB: ARGEF) has engaged BBA Inc., one of Canada's leading firms of independent engineering professionals in the mining and metals sector, to complete a scoping study compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects for the La Blache property. The scoping study will be comprised of the evaluation of the mining and milling operations and metallurgical processing facility, accompanied by all necessary infrastructures needed for the development of the La Blache property. It is expected that a cost estimate and financial analysis should be completed by March 31, 2011.

The major areas to be covered by the scoping study of BBA include: mine design, general infrastructure, integration of the contributions of third parties (metallurgy, environmental study, market study, transportation study and others), capital and operating cost estimates, cash flow model and financial analysis, and a project implementation schedule.

Argex's objective is to develop a world class titanium mining operation with a hydrometallurgical processing facility treating upwards of three million tonnes per year of ore (3Mtpa); producing high-grade titanium dioxide, iron oxide and vanadium products. The chemical purity of all products is expected to be excellent.

"BBA has put together a highly qualified team of experienced professionals," said Michael Dehn, Argex's President and Chief Excutive Officer, "BBA's multidisciplinary mines and metals group has completed numerous projects related to iron ore, gold and base metals in northern Quebec. We are confident that their involvement in the project is a value-added for our shareholders." 

About BBA Inc.

Established in 1979, BBA is an independent Canadian consulting engineering firm with nearly 600 employees. BBA offers engineering services across Canada and around the globe with a high level of expertise, focusing on the mines, metals, energy and petrochemical sectors. From a project's definition to commissioning, BBA offers a complete range of multi-disciplinary engineering services including feasibility studies, management consulting, process/energy audits, detailed engineering, EPCM and start up assistance. The company is headquartered in Mont-Saint-Hilaire, Quebec and has offices in downtown Montreal and Vancouver as well as in Labrador City. www.bba.ca

About Argex Mining Inc.

Argex is a junior titanium, iron, vanadium and magnesium explorer with projects in Québec, Canada. Headquartered in Montreal, Québec with plans to rapidly advance towards titanium production at the 100%-owned La Blache deposit located near Baie-Comeau, Québec. Argex also owns 100% of the Mouchalagane Iron Ore project, located 380 kilometres north of Baie-Comeau, Québec and of the same type of deposit as ore bodies currently being mined by Québec Cartier Mining's (Arcelor Mittal) Fire Lake Mine and Consolidated Thompson's Bloom Lake Mine. Recently, Argex expanded its land holdings near Baie-Comeau, Québec surrounding Consolidated Thompson's Lac Brûlé Titanium-Iron-Vanadium deposit. 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:

Michael Dehn, President and Chief Executive Officer
Argex Mining Inc.
647-477-2382
michael@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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