Mr. Mazen Alnaimi reports

ARGEX TITANIUM PROVIDES UPDATE ON $3.5 MILLION PRIVATE PLACEMENT

Argex Titanium Inc. is providing an update on its private placement of a maximum of 46,666,666 units at a price of 7.5 cents per unit, for maximum gross proceeds to Argex of $3.5-million. Argex has extended the closing date of the private placement and expects the private placement closing to take place by mid-August, 2017.

Argex has also engaged Robson Capital Partners Corp. of Vancouver as its non-exclusive sales, marketing and administrative agent in connection with the private placement. Robson Capital will assist Argex in finding subscribers for the private placement on a best-efforts basis. The units are being offered to "accredited investors" in some or all of the provinces of Canada and in other jurisdictions, if any, determined by Argex.

Each of the units will be composed of one common share and one-half of a common share purchase warrant; each full warrant will entitle its holder to acquire one additional Argex common share at a price of 13 cents for a period of 18 months from the closing date. In the event that the closing price of Argex's common shares on the Toronto Stock Exchange is at least 15 cents for a period of not less than 20 consecutive trading days, the warrants will expire, at the sole discretion of Argex, on the 30th day after the date on which Argex sends a notice in prescribed form to the holders of the warrants.

Argex will use the net proceeds from the private placement to complete FEL-2 engineering and a technology package for its titanium dioxide (TiO2) project.

About Argex Titanium

Argex has developed an advanced chemical process for the volume production of high-grade titanium dioxide for use in paint, plastics, cosmetics and other titanium dioxide applications.

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