[Marinir] {Disarmed} Argex (TSX-V: RGX) to Acquire Quinto's Lac Brule Claims

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http://www.argex.ca/ 

ARGEX TO ACQUIRE QUINTO'S CLAIMS ON THE LAC BRULE PROPERTY 

Argex Mining Inc. ("Argex") (TSX-V: RGX 

http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=RGX&region=C&lookup=symbol&snapshot=default 

) announced today that it has entered into a letter agreement (the 
"Letter Agreement") with Quinto Mining Corporation ("Quinto"), a 
wholly-owned subsidiary of Cliffs Natural Resources Inc., to acquire the 
claims located on the Lac Brûlé property, which is located 
95 km northwest of the city of Forestville on the Quebec North Shore 
(the "Lac Brûlé Property"). The Lac Brûlé 
Property is composed of one block of 35 map-designated claims covering a 
total of 19.6 km2 and is located at the center of Argex's existing claim 
block in the sector. 

The Lac Brûlé Property covers part of the Labrieville 
anorthosite complex which hosts known magmatic iron oxide deposits 
strongly mineralized in titanium. Historical exploration work completed 
on the property in the 50's and 70's outlined three massive ilmenite 
lenses. An internal study completed in 2005 following definition 
drilling completed on Lens A and Lens B reported a mineral resource 
estimate totalling 3.8 million tonnes and having an average grade of 
30.1% TiO2. Such tonnage is however not confirmed by the 43-101 report. 

A qualified person has not done sufficient work to classify the 
historical estimate as current mineral resources or mineral reserves and 
Argex is not treating the historical estimate as current mineral 
resources or mineral reserves. 

Argex's President and CEO Roy Bonnell commented on the acquisition, 
"This acquisition will complete our current set of properties in the Lac 
Brûlé area. It will provide us with a strong complement to 
our La Blache deposits with the potential contribution of higher grade 
TiO2 mineralization. Processing significantly higher grade TiO2 through 
the hydro-metallurgical plant should strongly increase the project's 
potential cash-flow without increasing capital costs." 

The Letter Agreement provides that, upon signature of a definitive 
agreement following successful completion of the due diligence review, 
Argex will purchase all rights, title and interest in the Lac 
Brûlé Property for a consideration of C$1,150,000 payable 
as follows: C$400,000 deposit which was paid at signature of the Letter 
Agreement, C$300,000 payable after the due diligence review on the 
information related to the Lac Brûlé Property and C$450,000 
payable upon the execution of the definitive agreement. 

The technical information disclosed in this news release has been 
reviewed and approved by André Laferrière, P.Geo., 
Qualified Person for Argex, as defined by National Instrument 43-101 for 
the Standards of Disclosure for Mineral Projects. 

About Argex Mining Inc. 

ARGEX MINING INC. has recently transitioned from a mining exploration 
company to a near-term producer of commodities that the world needs: 
Titanium Dioxide, Iron and Vanadium Pentoxide. With a primary goal of 
advancing rapidly towards production, Argex has adopted a simple and 
low-risk strategy for the scale-up of its proprietary process that 
allows it to produce high purity TiO2 directly from its 100% owned 
deposit. 

The process is running continuously at the mini-plant in Mississauga, 
Ontario. The closed-loop process is environmentally friendly and 
produces minimal inert tailings. 

Additionally, the Company owns 100% of the Mouchalagane property, which 
is a large Labrador Trough iron ore property that represents further 
potential upside for the Argex shareholders. 

For More Information: 

Roy Bonnell, President and Chief Executive Officer 

Argex Mining Inc. 

514-788-8923 

roy at argex.ca 

MEDIA: 

Frédéric Bérard, Vice President 

HKDP Communications and Public Affairs 

514 395-0375, ext.259 

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. 

For more information about this service, please see: 
www.infostockbiz.com 

http://www.infostockbiz.com 

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