Mr. Serge Depatie reports

ARGEX TO WITHDRAW PRELIMINARY SHORT-FORM PROSPECTUS AND PROVIDES AN UPDATE ON PLAN AND BUDGET

As a consequence of recent market activity and conditions, Argex Titanium Inc. will not proceed with the offering of units under the short-form prospectus disclosed in its press release dated June 1, 2015.

As of June 10, 2015, Argex had a balance of cash and cash equivalents of approximately $1,825,000. Argex shall implement a new budgetary plan that includes cost-cutting measures, such as termination of employees, reductions in salaries, and suspension of research and development activities, allowing available funds to be specifically allocated to value-creating activities. Argex is also considering its alternatives with respect to some or all of its mineral claims as an additional cost-saving measure.

Argex is actively discussing with several partners to source the financing it needs to continue its objectives. Argex plans to leverage its assets in place, which include a strong technology that produces a high-quality product, an industry-leading projected cost structure, and extensive due diligence packages endorsed by leading investors and lenders and supportive industry partners.

Argex will continue to seek additional financing for the front-end engineering and design for the construction of Argex's first commercially sized titanium dioxide plant in Valleyfield, Que. The corporation also intends to pursue other alternatives, such as joint ventures and licences, instead of (or in parallel to) building its own facility. A royalty, service and technology transfer model is applicable especially in the case of the multiplant opportunities and moves the corporation closer to revenues. There can be no assurance that Argex will be successful in its efforts in that respect.

"Argex intends to advance toward a complete solution for strategic investors willing to enter or grow market share in the TiO2 industry. The completion of the FEED/FEL3 remains a valuable tool in this respect. Always having in mind value creation for its shareholders, we believe that the decisions taken today were necessary to achieve our goal," commented Roy Bonnell, president and chief executive officer of Argex.

We seek Safe Harbor.