Vanadium Will Be A By-Product Of This Titanium Deposit

8/6/2019 Vanadium Will Be A By-Product Of This Titanium Deposit

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TITANIUMIRON ANDVANADIUMTSX-V: RGX

RGX TSX.V1

ARGEXMINING INCCORPORATE PRESENTATION

May 2011


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Forward Looking StatementThe information presented contains forward-looking statements, within the meaning of the United States Private Securities Litigation Reform Act of 1995, and

forward-looking information under similar Canadian legislation, concerning the business, operations and financial performance and condition of the Company. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to estimated production, the estimation of mineral reserves and

mineral resources; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; capital expenditures; success of

exploration activities; permitting time lines and permitting, mining or processing issues; government regulation of mining operations; environmental risks; unanticipated

reclamation expenses; title disputes or claims; litigation liabilities; and limitations on insurance coverage. Generally, forward-looking statements and forward-looking

information can be identified by the use of forward-looking terminology such as plans, expects or does not expect, is expected, budget, scheduled, estimates,

forecasts, intends, anticipates or does not anticipate, or believes, or variations of such words and phrases or sta te that certain actions, events or results may,

could, would, might or will be taken, occur or be achieved. Forward-looking statements and forward-looking information are based on the opinions and estimates

of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results,

level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or

forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from thosecontained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There

can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any

forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.

Investors are advised that National Instrument 43-101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resources be

reported separately. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated or Inferred Resources

The information presented uses the terms measured, indicated and inferred mineral resources. United States investors are advised that while such terms are recognizedand required by Canadian regulations, the United States Securities and Exchange Commission does not recognize these terms. Inferred mineral resources have a great

amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be

upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States

investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are

also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.

RGX TSX.V2


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RGX TSX.V3

High Quality Projects and Technology andRapid Evaluation

An Aggressive and Successful Approach toExploration and Rapid advancementtowards productionCommodities the world needs titaniumdioxide, vanadium pentoxide and iron

What is Argex?


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RGX TSX.V4

Rapid advancement to production = potential nearterm cash flowTitanium dioxide price forecast to double in the period

from 2010 to 2015Expected to be the largest vanadium pentoxideproducer in the Americas

Iron ore at all time highsProprietary TiO2 Technology

Why invest in Argex?


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Highlights NI 43-101 compliant resource estimate including: 30,888,000 tonnes

measured and indicated and 13,013,000 tonnes inferred resourceestimate grading >44% iron (63.36% Fe2O3), >11% titanium(18.67% TiO2) and >0.24% vanadium (0.43% V2O5).

High grade titanium, iron and vanadium deposits

Environmental Permitting work underway by Genivar

100 km from deep water port

Extensive infrastructure in place

Exclusive exploration agreement with Innu

Initial sample testing shows excellent iron and titanium recovery andpurity

20,000m of Drilling completed by Major Drilling

NI43-101 Preliminary Economic Assessment (PEA or Scoping Study)currently being prepared by BBA.

Favourable valuation to other comparables

RGX TSX.V5


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Team

Michael Dehn, President, CEO & Director President and CEO of Puget Ventures Inc. and Director of other mining companies

B.Sc. in Earth Sciences from the University of Waterloo

Former Senior Geologist with Goldcorp Inc. (1995-2005); over 19 years of experience in the

mining industry, including extensive technical knowledge of the Red Lake district

Mark Billings, CFO, Director President and CEO of Orex Exploration Inc. (TSX-V: OX), a gold exploration company with

properties in Nova Scotia

BA (Honours) from Carleton University and an MBA from the Harvard Business School;

Chartered Financial Analyst

Enrico Di Cesare, COO & VP TechnologyRoy Bonnell, VP Business and Corporate Development, Director

Managing Director of Atwater Financial Group, a Montreal-based merchant banking group.

M.Sc. Accounting & Finance (London School of Economics), MBA (McGill) University, L.L.B.

Western Ontario, B.A. (Queens University).

RGX TSX.V6


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Team (contd)Peter H. Smith, Director

President and CEO of Fancamp Exploration Ltd. (TSX-V: FNC),

B.Sc. in geology from McGill University and an MS and Ph.D. from Northwestern University

Anthony Garson, Director B.Sc. in Earth Sciences from the University of Waterloo and an MBA from the University of

Toronto.

Involved in the brokerage industry as a Mines and Metals Analyst, V-P Scotiabank 1975-80,

Dean Witter Reynolds (Canada) Ltd. ,Canaccord Capital. Founding partner of Union CapitalMarkets (UK) Ltd.

Director of Alamos Gold Inc.

RGX TSX.V7


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Commodity Prices

RGX TSX.V8

Commodity Price (per tonne, US$)Iron Ore (Magnetite) $125Titanium Dioxide (TiO2) $600 - $3,000Vanadium Pentoxide V2O5 $15,000
http://rds.yahoo.com/_ylt=A9G_bDiLBjZMRx8ALfWjzbkF/SIG=12kbtum05/EXP=1278695435/**http:/www.warehamforge.ca/ironsmelting/june08/images/ore952.jpg


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La BlacheMetal Value(based on NI 43-101 compliant resource estimate)

9RGX TSX.V

Estimated In Situ Metal Valueof NI 43-101 Compliant Resource Estimate:Iron Ore TiO2 V2O5

Market ($US/tonne) $125 $3,000 $15,000NI 43-101 Est. Grade 63.29% 18.78% 0.45%30,888,000 tonnes(measured + indicated only)

Est. Metal Value (bil. $US) $2.44 $17.40 $2.08

Total Value (billions $US) $22Gross Value of Metal Per Share($US) $247(based on 88,725,304 shares outstanding)


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Titanium Mining/Exploration(Comparables)

10RGX TSX.V

Company

Shares

Outstanding

Share Price

(CAN$) Market Cap (CAN$)

Resource/Reserve

tonnes

Ore Grade

TiO2

Planned Production

tonnes

TiO2

Product

ILUKA 418,700,000 8.61 $ 3,606,765,540 275,600,000 6.00% 1,371,000 66.2%

KENMARE RESOURCES

PLC 2,403,502,000 0.52 $ 1,257,743,200 6,520,000,000 1.19% 800,000 55%

TITANIUM RESOURCES

GROUP 65,870,856.24 0.17 $ 65,870,856 277,000,000 1.35% 100,000 55%

ARGEX MINING INC 88,725,304 0.50 $ 44,362,652 30,888,000 17.40% 600,000 98%

$3,607

$1,258

$66 $440

1,000

2,000

3,000

4,000

ILUKA KENMARE RESOURCES PLC TITANIUM RESOURCESGROUP

ARGEX MINING INC

CAN$

Market Cap (CAN$)

*NI 43-101 compliant resource estimate, anticipated production -share prices and market cap data as of May 17, 2011


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Business Strategy 2011

Complete NI 43-101 Preliminary EconomicAssessment Report

Mini-Plant operation for commercializationtesting and product production for customer

materials testing

Capital Financing for Production Plantconstruction

Mine site development and pre-productionmining

11RGX TSX.V


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Progress for La Blache Project

12

Dec.2008

Dec.2009

Dec.2009

Jan.2010

Jan.2010

Feb-May2010

May-July2010

May-Aug2010

Feb.2011

May2011

June2011

Ju;y2011

43-101 Qualifying ReportCompilation and PlanningAirborne Geophysical SurveyModel and Validate TargetCamp Installation, MobilizationDrill (13,000m) (Consul-Teck/Major)Drilling (7000m) (Consult-Teck/Major)Initial Metallurgical Testing (Oretech)43-101 Resource Estimate (Met-Chem)Phase Two Met. Testing (Oretech)Scoping Study (BBA)Mini-Plant (Oretech)

RGX TSX.V

Testwork completeawaiting additional mini-plant results

Underway

Leaching has commenced and is ongoing


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La Blache Project The La Blache Project comprises three known lenses of massive titaniferous magnetite

(Fe-Ti-V) mineralization: West Hervieux, East Hervieux and Schmoo Lake. It was discovered in 1952 by Bersimis Mining.

A historic (non-compliant) estimate of the property is 79 million tons at 48% Fe, 20.5%TiO2, and 0.36% V2O5.

In excess of 110 holes totaling more than 6000 metres completed in 41 holes at theWest Hervieux occurrence and nearly 9000m in 69 holes on the East Hervieux occurrence,located approximately 2 km east and 1.25 km north of the West Hervieux Occurrence.Results for more than 70 holes are pending.

RGX TSX.V13

HOLE # From

Length

along

core (m)

Fe Ti V Fe2O3 TiO2 V2O5HW-10-001 7.5 161.25 42.62 11.04 0.27 61.86 18.29 0.48HW-10-003 9.40 85.80 42.14 10.73 0.26 60.25 17.90 0.46

HW-10-007 10.00 121.50 43.34 11.16 0.27 61.96 18.61 0.48

HW-10-008 34.90 72.00 44.38 11.33 0.28 63.45 18.90 0.50

HW-10-013 3.80 68.00 41.72 10.46 0.27 59.65 17.45 0.47

HW-10-029 4.60 105.40 43.31 10.70 0.28 61.92 17.85 0.50

HW-10-030 50.90 51.90 43.05 11.13 0.28 61.55 18.57 0.50

HW-10-030 108.50 58.80 37.07 9.29 0.26 53.00 15.50 0.46

HW-10-031 4.00 107.00 44.99 11.68 0.29 64.33 19.48 0.52

HW-10-039 127.10 67.10 41.76 10.83 0.27 59.70 18.07 0.48

Significantresults from2010 WestHervieux drilling


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La Blache ProjectNI 43-101 Resource Estimates

Resource Category In Situ (tonnes) Fe % Ti % V % Fe2O3% TiO2% V2O5%

Measured 8,017,000 44.22 11.27 0.25 63.22 18.8 0.45

Indicated 22,871,000 44.28 11.26 0.26 63.31 18.78 0.46

Measured + Indicated 30,888,000 44.27 11.26 0.25 63.29 18.78 0.45

Inferred 13,013,000 44.11 11.19 0.24 63.06 18.67 0.43

In Situ Grades Calculated In Si tu Oxide Grades

Resources Estimation Summary for West and East Hervieux (COMBINED)

East Hervieux and West Hervieux (Cut-Off 40% Fe)


Measured 5,601,000 44.19 11.34 0.25 63.18 18.92 0.45

Indicated 12,839,000 44.37 11.37 0.27 63.44 18.55 0.43

Measured + Indicated 18,440,000 44.32 11.36 0.26 63.36 18.95 0.46Inferred 4,173,000 44.14 11.4 0.27 63.11 19.02 0.48

In Si tu Grades Calculated In Situ Oxide Grades

Resources Estimation Summary for West Hervieux

West Hervieux (Cut-Off 40% Fe)


Measured 2,416,000 44.28 11.12 0.24 63.31 18.55 0.43

Indicated 100,320,000 44.17 11.12 0.24 63.15 18.55 0.43

Measured + Indicated 12,448,000 44.19 11.12 0.24 63.18 18.55 0.43Inferred 8,840,000 44.1 11.09 0.23 63.05 18.5 0.41

In Si tu Grades Calculated In Situ Oxide Grades

Resources Estimation Summary for East Hervieux

East Hervieux (Cut-Off 40% Fe)


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The Mouchalagane Project

The Mouchalagane Project consists of a group of 3 iron oreproperties referred to as Hanna, Consolidated Morrison

and Fortin.

The Hanna and Morrison properties have an historicalestimate that is non compliant under National Instrument43-101 of 300+ millions tonnes, with historical gradesranging from 31% to 36% Fe.

The more grass-roots Fortin property yielded grab samplesgrading in the range of 67% Fe and over.

Recently increased the property by 127% to cover expectediron formation prior to airborne geophysical survey

Completed 2447 km airborne geophysical survey thatidentified more than 40km of iron formation strike length

RGX TSX.V15


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Mouchalagane ProjectOriginally172 square km

RGX TSX.V16

M h l Ai b


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RGX TSX.V17

IRONFORMATION

IRONFORMATION

Mouchalagane AirborneGeophysics

(property increased to 230 sq km)


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RGX TSX.V18

Mouchalagane Property Now330 sq km


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Lac Brul Property

RGX TSX.V19

CLM Claims

Argex Mining Claims

ArgexMiningClaims


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Lower Costs Due to Unique Location

EXISTINGINFRASTRUCTURE

Rail lines

Power lines

Main access roads &logging roads

Housing for employees

7 deep sea ports

20

LABRADOR

QUBEC

St. Lawrence

River

Producing iron mine

Shipping terminal

Rail line

Hydro

Road

QNS&LQCM

Pointe NoireSept-Iles

Port Cartier

LabradorCity

Twin Falls

ChurchillFalls

Bloom Lake (CLM)WABUSH (WABUSH IRON)

CAROL LAKE (IOC)

MONT-WRIGHT (QCM)

Mouchalagane

Properties (RGX)

La Blache

Properties (RGX)

Baie-Comeau

RGX TSX.V


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Exclusive Innu Agreement

RGX TSX.V21

Mining exploration agreement between Argex and the Innu.

The Innu consent to Argex conducting mining exploration on landsthat they claims pursuant to their ancestral rights.

Innus grant Argex an exclusive right to mining exploration anddevelopment on land within a 100 km radius of any Argex claims.

Argex agrees to communicate with the Innu in a timely mannerits exploration plans and results.

Innu have a right of first participation in the financing of Argexs

future development projects on its territory.


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43-101 Resource

RGX TSX.V22

NI 43-101 compliant resource estimate including: 30,888,000 tonnes

measured and indicated and 13,013,000 tonnes inferred resourceestimate grading >44% iron (63.36% Fe2O3), >11% titanium (18.67%TiO2) and >0.24% vanadium (0.43% V2O5).

Scoping StudyArgex has hired Montreal based BBA Inc., one of Canadas leading firmsof independent engineering professionals in the mining and metalssector, to help the Company in its preparations for the scoping study onits La Blache Project.

The scoping study to include an economic analysis of the potential

viability of the mineral resources, forecast mine production rates, capitalcosts to develop and sustain the mining operation, operating costs, andprojected cash flows prior to the completion of a preliminary feasibilitystudy.


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Metallurgical Process

RGX TSX.V

Argex has signed an Letter of Intent toacquire 50.1% of the company CanadianTitanium Ltd which owns the technology

A purity of 99.8% TiO2 has been achieved The process in closed loopedno chemicals

are discharged

Minimal tailings from La Blache ore allinert

23


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CTL Process Flow

Crushing,Grinding

Ilmenite

Leaching

HCl+MgCl2

Filtering

S/X for Fe

TiO2 Fe2O3product

Precipitation S/X for Ti


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CTL Technology ComparedChloride Process (CP)1 Sulphate Process (SP)1 CTL Process (CTL)

Generally requires the use of high TiO2

content

Both lower cost and lower TiO2 content

ilmenite ores and sulfate slags may be

used in this process.

Primarily ilmenite ore, not optimized

for rutile

Generally higher product consistency Base particle size control is less

consistent than in the chloride process,

negatively impacting product

performance.

Very high purity (99.8 %) TiO2 (rutile)

product

Produces only rutile crystal forms Produces either the rutile or anatase

crystal form

Production of anatase pigment is

possible

Smaller buildings Larger buildings Larger buildings

Fewer vessels More vessels No pressure vessels

Less manpower necessary More manpower necessary More manpower than Chloride Process

Higher training requirements for plant

operations staff

Lower training requirements for the staff Mix of qualified staff and operating

personnel

A more continuous process A batch process Continuous process

Less environmental impact due to less

waste generation

More environmental impact due to much

higher waste generation

Environmentally attractive: energy

efficient, chlorine not used, closed loop

operation, very low inert tailings

1 Source: Modified from http://www.ti-cons.com/Ti-Cons/index.php?option=com_content&view=article&id=1&Itemid=12&lang=en


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Chloride Process (CP)1 Sulphate Process (SP)1 CTL Process (CTL)

Limited possibility to rework some of

the waste to sellable co-products

Process needs co-product management

and attractive markets for co-products

Sellable byproducts (dependent on the

source of ilmenite) of iron, vanadium

and chromium, acid recovery and

recycle

Requires stable production environment

and infrastructure

Process is easier to handle because of

batch process

Process is flexible can handle

variation in feed material

The process is more sensitive to

production shortfall because it has a

closed loop front end

Production does not directly stop if one

step fails

Production does not directly stop if one

step fails

Higher safety requirements due to the

use of Cl2 and TiCl4

Safer operation - chlorine not used,

organic solvents used

Higher degree of automation necessary Lower requirements to equipment and

automation

Continuous process can be

automated

In general, the production costs arelower and do vary by plant

In general, the production costs arehigher than chloride process plants,

especially outside of China

Lower capital costs, lower operatingcosts reagents recycled, by-product

revenue

CTL Technology Compared(contd)

1 Source: Modified from http://www.ti-cons.com/Ti-Cons/index.php?option=com_content&view=article&id=1&Itemid=12&lang=en


27/31

Summary

RGX TSX.V27

NI 43-101 compliant resource estimate including: 30,888,000 tonnes

measured and indicated and 13,013,000 tonnes inferred resourceestimate grading >44% iron (63.36% Fe2O3), >11% titanium(18.67% TiO2) and >0.24% vanadium (0.43% V2O5).

High grade titanium, iron and vanadium deposits

Environmental Permitting work underway by Genivar

100 km from deep water port Extensive infrastructure in place

Exclusive exploration agreement with Innu

Initial sample testing shows excellent iron and titanium recovery andpurity

20,000m of Drilling completed by Major Drilling

NI43-101 Preliminary Economic Assessment (PEA or Scoping Study)currently being prepared by BBA.

Favourable valuation to other comparables


28/31

Market CapitalizationMARKET PERFORMANCE Recent Price - $0.50

52 week High$0.92

52 week Low - $0.18

Market Cap $44.3 Million

As of May 17, 2011

CAPITALIZATION 88,725,304 Outstanding Shares (basic)

23,320,777 Escrowed Shares

65,404,527 Free-trading Shares

4,837,500 Options

47,521,846 Warrants

3,460,020 Broker Warrants

144,544,670 Outstanding Shares (fully diluted)


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MANAGEMENT TEAMMichael Dehn, President & [email protected]

Tel: +1.647.477.2382

Mark Billings, CFO

[email protected]

Tel: +1.514.296.1641

Roy Bonnell, VP Business Development

[email protected]

Tel: +1.514.928.5933

CORPORATE HEADQUARTERSSuite 410, 630 Sherbrooke Street West

Montreal, Quebec H3A 1E4

Fax: +1.514.843.9208

www.argex.ca

Auditors : BDO DunwoodyLegal Counsel : Heenan, Blakie LLPTransfer Agent : CIBC Mellon Trust Company

All of Argexs public filings can be found on SEDAR

(www.sedar.com)

Corporate Information
http://www.argex.ca/http://www.argex.ca/


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RGX TSX.V30

ARGEX

MINING INC

TSX-V: RGXwww.argex.ca


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RGX TSX.V

Vanadium Will Be A By-Product Of This Titanium Deposit

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Transcript of Vanadium Will Be A By-Product Of This Titanium Deposit