First assays from Argex's East Hervieux target report results similar to West
Hervieux

    
    - 827 feet (252.0 metres) of 0.29% V2O5, 37.50% Fe2O3 and 10.76% TiO2 in
      holes HE-10-001
    - V2O5 values of 0.61% over 5.4m from 3.0m to 8.4m and 0.60% over 6.0m
      from 261m to 267m in hole HE-10-001
    - 77 holes (more than 10,500m) now completed on the East Hervieux
      Occurrence
    

MONTREAL, June 21 /CNW Telbec/ - Argex Silver Capital Inc. TSX-V:RGX Argex or the Company reports additional final results intersected from drilling at the La Blache property, East Hervieux occurrence. Many of the intersections include internal dilution of mineralization by unmineralized dykes. Argex in nearing completion of the expanded drill program at East Hervieux and the drill will be moving back to the West Hervieux target to follow up on previous results as well as to test new targets including recently identified massive titaniferous magnetite outcrop occurrences.

The first hole drilled by Argex on the East Hervieux occurrence intersected several zones of massive and semi massive titaniferous magnetite mineralization. From the bedrock surface to last intersection of the mineralized core in hole HE-10-001, a weighted average grade of 26.23% Fe, 6.45% Ti, 0.16% V, 37.50% Fe2O3, 10.76 % TiO2 and 0.29% V2O5 over a core length of 252m (827 feet) from 3m to 255m downhole. This intersection is not representative of the true thickness of the mineralization.

Drilling on the La Blache Properties has now seen in excess of 116 holes totaling more than 6000 metres completed in 41 holes at the West Hervieux occurrence and more than 10,500m in 77 holes on the East Hervieux occurrence, located approximately 2 km east and 1.25 km north of the West Hervieux Occurrence. Results reported today from the East Hervieux occurrence are very similar in grade to those previously reported by Argex from the West Hervieux occurrence.

All results are drill intersections along the length of the core and may not be representative of the true thickness. See the intersection and results table below (all results are fina1):

    
    -------------------------------------------------------------------------
                      Length
                      along
                       core     Fe       Ti      V     Fe2O3   TiO2    V2O5
    HOLE No.    From    (m)     (%)      (%)    (%)     (%)     (%)     (%)
    -------------------------------------------------------------------------
    HE-10-001      3    5.4    46.97    11.45   0.34   67.16   19.09   0.61
    -------------------------
    HE-10-001   57.8   91.2    44.67    11.42   0.30   63.87   19.05   0.53
    -------------------------
    HE-10-001    210     21    39.96     9.11   0.21   57.14   15.19   0.38
    -------------------------
    HE-10-001    261      6    47.27    11.83   0.34   67.58   19.73   0.60
    -------------------------------------------------------------------------
    HE-10-002                       Hole Abandoned
    -------------------------------------------------------------------------
    HE-10-003     61      6    45.61    11.47   0.31   65.21   19.13   0.56
    -------------------------
    HE-10-003    139      2    40.05     9.91   0.22   57.26   16.53   0.39
    -------------------------
    HE-10-004     14      6    36.23    10.30   0.17   51.80   17.18   0.29
    -------------------------
    HE-10-004     23     43    44.94    11.17   0.27   64.25   18.63   0.48
    -------------------------------------------------------------------------
    

The drill program was planned and is being supervised by Jean-Sébastien Lavallée, P.Geo (OGQ #773), Consul-Teck Exploration Inc., of Val d'or, Québec, Argex's Silver Capital Inc. consulting geologist and qualified person since 2007, as well as reviewing and approving this release. The drilling is being completed Major Drilling Group International Inc, with crews being based out of the Val d'or, Québec office Samples were sent for analysis in sealed containers to the Chemex laboratory in Val-d'Or by employees of Consul-Teck Exploration Inc. Chemex is the laboratory used for analysis of all samples from programs on the La Blache property. The samples are weighed and identified prior to sample preparation. The samples are crushed to 70% minus 2 mm, then separation and pulverized to 85% passing 75 (micro)m. All samples are analyzed using ICP-81 (Iron-Titanium) and using ME-XRF-10 for Vanadium.

About Argex

Argex is a junior titanium, iron, vanadium and magnesium explorer with projects in Quebec, Canada. Headquartered in Montreal, Quebec, the Company is committed to the interests of its shareholders, with plans to rapidly advance towards titanium production at the 100% owned La Blache deposit located near Baie-Comeau, Quebec. For additional information please visit our website at www.argex.ca.

    
    Forward-Looking Statements
    --------------------------
    

This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information: Michael Dehn, President and CEO, Argex Silver Capital Inc, 647-477-2382, [email protected]; Paradox Public relations, 514-341-0408, 1-866-460-0408