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<td><a
id="ct1_0"
href="http://www.actonsoftware.com/acton/ct/1523/s-0084-1111/Bct/l-0002/l-0002:15bcd/ct1_0/1"><img alt="" src="http://www.infostockbiz.com/images/RGX_logo.jpg" border="0" height="117" width="700" /></a> <font face="arial, verdana" size="2"><font face="arial, verdana" size="2"> <br /><font size="4"></font></font></font><center><span style="font-size: 13pt;"><b>ARGEX ANNOUNCES SUCCESSFUL COMPLETION OF MINI-PLANT TESTS</b></span></center></td>
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<p align="left"><b>Argex Mining Inc. (TSX-V: <a
id="ct2_0"
href="http://www.actonsoftware.com/acton/ct/1523/s-0084-1111/Bct/l-0002/l-0002:15bcd/ct2_0/1">RGX</a>)</b>announced today that it has successfully completed the mini-plant testing of ore from its 100%-owned La Blache deposit that had begun in February of this year. The ore was processed using the patented Process owned by Argex’s subsidiary Canadian Titanium Limited (CTL) and developed to produce titanium dioxide, iron oxide and vanadium product (CTL Process).</p>
<p align="left">Highlights of the testing include the following:</p>
<ul>
<li>Repeated and consistent results demonstrating production of 99.8% pure titanium dioxide rutile product directly from run-of-mine material.</li>
</ul>
<ul>
<li>Repeated and consistent results demonstrating titanium dioxide production with brightness that are in line with or superior to some of the major TiO2 industry producers.</li>
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<li>An improved and consistent TiO2 recovery rate of 90%.</li>
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<li>Organics used in the CTL Process have been recycled more than 100 times successfully demonstrating process viability.</li>
</ul>
<ul>
<li>TiO2 end-product successfully produced to the optimal 0.25 microns size as required for commercial use in paints and other products.</li>
</ul>
<p align="left">"It is largely because of the success of our proprietary mineral processing technology that we were able to produce such a successful Preliminary Economic Assessment (PEA) results," stated Argex President and CEO, Roy Bonnell, "The PEA confirmed for us the economic and technological viability of the CTL Process." On October 26, 2011, Argex reported by news release PEA results that demonstrated (among other things) a $2.2 billion NPV valuation."</p>
<p align="left">"I am excited and encouraged with the progress that we have made in recent months to prepare the road to production. The continued efforts to simplify and de-risk the project are demonstrating positive results" stated Argex COO and VP Technology, Enrico Di Cesare.</p>
<p align="left">The patented closed-loop CTL Process involves the leaching of titanium-bearing ore material in acid under conditions with both the iron and the titanium in the ore leached into solution. The energy efficient process operates at atmospheric pressure and does not require pre-treatment of the ore (no oxidation and/or reduction is required). The CTL Process operates with relatively low concentration of hydrochloric acid and avoids the need to handle chlorine, carbon or carbon containing chemicals at very high temperatures.</p>
<p align="left"><b>About Argex Mining Inc.</b></p>
<p align="left">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.</p>
<p align="left">The process is running continuously at the mini-plant in Mississauga, Ontario. The closed-loop process is environmentally friendly and produces minimal inert tailings.</p>
<p align="left">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.</p>
<p align="left"><small>Forward-Looking Statements and Disclaimer</small></p>
<p align="left"><i>This press release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of historical facts contained in this press release are forward-looking information. Such statements and information may be identified by words such as "about", "approximately", "may", "believes", "expects", "will", "intends", "should", "plans", "predicts", "potential", "projects", "anticipates", "estimates", "continues" or similar words or the negative thereof or other comparable terminology. Forward-looking statements are based on the best estimates available to Argex at this time and involve known and unknown risks, uncertainties and other factors that may cause Argex’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A description of the risks affecting Argex’s business and activities appears under the heading "Risk Factors" in Argex’s Amended and Restated Annual Information Form dated January 14, 2011 for the fiscal year ended December 31, 2009, which is available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that Argex will derive therefrom. In particular, no assurance can be given as to the future financial performance of Argex. The forward-looking information contained in this press release is made as of the date hereof and Argex undertakes no obligation to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws. The reader is warned against placing undue reliance on these forward-looking statements. </i></p>
<p align="left">For More Information:</p>
<p align="left">Roy Bonnell, President and Chief Executive Officer Argex Mining Inc. <br />Argex Mining Inc. TSX-V: RGX <br />514-788-8923 FSE: ASV <br /><a
href="mailto:roy@argex.ca">roy@argex.ca</a> <br /><br />MEDIA: <br />Frédéric Bérard, Vice President <br />HKDP Communications and Public Affairs <br />514 395-0375, ext. 259</p>
<p><small><i>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.</i></small></p>
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