IRON-TITANIUM RESOURCE: Argex offers estimate for La Blache property

QUEBEC - Montreal's Argex Mining is pleased with the recent 43-101 report on its La Blache iron-titanium-vanadium project 145 km north of Baie Comeau. The property contains a measured and indicated resource of 30.9 million tonnes grading 63.29% Fe₂O₃, 18.78% TiO₂ and 0.45% V₂O₅. The inferred resource is 13.0 million tonnes at 63.06% Fe₂O₃, 18.67% TiO₂ and 0.43% V₂O₅.

The resource estimate includes both the East Hervieux and West Hervieux deposits, and the East deposit is largely open at depth. Investigations by Met Chem indicate the mineralized material is suitable for hydrometallurgical recovery.

Argex plans to continue work at La Blache. The next step is a preliminary economic assessment. The company said the world price for titanium oxide pigments is expected to double, reaching US$4,800/tonne.

Geological details for the property are posted at www.Argex.ca.