Mr. Michael Brown reports

ARGENTEX MINING ANNOUNCES COMMENCEMENT OF A STRATEGIC REVIEW

Argentex Mining Corp.'s special committee formed by the board to oversee discussions regarding a potential business combination with Austral Gold has recommended that the company undertake a broader review of strategic alternatives.

Chief executive officer and president, Michael Brown, commented: "Discussions with Austral Gold have not culminated in a business combination and we believe we should now conduct a full review of our opportunities. The recent activity in Argentina's resource sector coupled with the advance of our Pinguino project, our exceptional team of exploration professionals and cash in treasury, puts us in a great position to evaluate a range of options."

We seek Safe Harbor.