Mr. Michael Dehn reports

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

Argex Mining Inc. 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 comprise 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 upward of three million tonnes per year of ore, 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 executive 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."