Mr. Serge Depatie reports

ARGEX COMPLETES NON-BROKERED PRIVATE PLACEMENT

Argex Titanium Inc. has completed a non-brokered private-placement financing for total gross proceeds of $650,000, with funds managed by Marquest Asset Management. As part of the offering, 1.2 million hard-dollar units were sold at a price of 12.5 cents per hard-dollar unit for gross proceeds of $150,000 and four million flow-through units were sold at a price of 12.5 cents per flow-through unit for gross proceeds of $500,000.

Argex owns titanium-bearing mining claims on the north shore of the St. Lawrence River in Quebec. Argex believes that these claims represent important assets to the company and that, by performing minimal and targeted exploration work, these assets can be developed and/or monetized in the short term.

"This placement is part of the necessary groundwork required to implement the financial support required to achieve Argex's value-added goals," said Roy Bonnell, president and chief executive officer of Argex.

"In the context of today's depressed TiO2 [titanium dioxide] market and based on ongoing discussions with industry producers, it gives me great confidence that the Argex value proposition of more profitable and environmentally friendly TiO2 production is an attractive proposition for them," added Mr. Bonnell. "Over the last two months, we have successfully streamlined our operations and have been working diligently to achieve the goals that we have set out," added Mr. Bonnell.

Each hard-dollar unit comprises: (i) a common share of Argex; and (ii) a common share purchase warrant entitling its holder to acquire one common share of Argex at a price of 15 cents per share until Sept. 18, 2017. Each flow-through unit comprises: (i) a common share issued on a flow-through basis, pursuant to the Income Tax Act (Canada); and (ii) one-half warrant. The net proceeds of the offering will be used for exploration expenditures, general corporate and working capital purposes.

Argex has paid a $39,000 finder's fee and has issued 312,000 warrants to Secutor Capital Management for its services rendered in connection with the offering.

Securities issued pursuant to the offering will be subject to a four-month-plus-one-day statutory hold period from their date of issuance. The Toronto Stock Exchange has conditionally approved the offering.

We seek Safe Harbor.