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Corporate Presentation

November 2013

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The 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 Argex Mining Inc. (“Argex or 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 state 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 those contained 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.

The technical information contained in the presentation has been reviewed by André Laferrière, Qualified Person for Argex and conforms to National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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.

The Qualified Person has not done sufficient work to classify the historical resources estimates and the issuer is not treating the historical estimate as current mineral resources

The Qualified Person has been unable to verify the information related to the Ni 43-101 mineral resources reported from other companies and included in the presentation

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 recognized and 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.

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Game-changing, patented

extraction process for pigment

grade titanium dioxide (TiO2)

production.

Process can uniquely

convert low cost ilmenite into

high purity TiO2.

TiO2 prices expected to rise with global economic growth.

Currently averaging $3,650 US/tonne*.

NDA ’ s in place with major end-users and distributors.

Developing collaborative partnerships in major sectors (accelerate and de-risk the learning curve.)

Currently negotiating purchase and sales agreements with end-users and distributors.

*Source: ICIS April 2013

Patented Extraction

Process

Economic Growth

Potential

Developing Industry

Relationships

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TiO2 is the most used white pigment

giving life to a colorful world.

Safe and environmentally friendly.

The most important properties are

optical:

Opacity

Brightness

Gloss

Tone (white) and under-tone (color)

Weather resistant and durable

Abrasiveness

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6.4 million tonnes per year (2011)*

China

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Current TiO2 price - $3,650 US tonne*

Prices are expected to double from 2010 to 2015** **Source: Ti Insight LLC, Dec. 2011 *Source: ICIS Apr. 2013

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(Ref. Ti Insight, LLC - December 2010)

*BRICS = Brazil, Russia, India, China & South Africa

Average German uses 9lbs of TiO2 per year.

Average North American uses 7lbs of TiO2 per year.

BRICS* currently uses on average 2lbs of TiO2 per year.

As emerging countries standard of living increases, so will their use of TiO2.

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ARGEX’S CTL PROCESS

Patented.

Proprietary.

Environmentally friendly.

The only TiO2 process that can effectively extract

TiO2 from ores containing different contaminates

such as MgO, V, Cr, etc.

Uniquely converts low quality ilmenite or mine

tailings that others cannot use into high purity

TiO2.

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Ongoing refinement has driven TiO2 purity beyond

99.8%.

Colour, brightness and opacity of TiO2 products

meet or exceed those of the industry leaders.

Environmentally friendly process:

− Closed-loop process.

− Every byproduct is saleable.

− Low temperatures required for process.

− Minimal inert residual (less than 10% of the feed).

− Able to utilize ilmenite from mine tailings that

others cannot use.

ARGEX’S CTL PROCESS

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ARGEX PLANT AND R&D CENTRE

VALLEYFIELD, QC

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Ilmenite Ore Crushing

And milling

Leaching Atmospheric

pressure

Filtration

Inert solid tails

Solvent extraction ( iron circuit)

Solvent extraction (titanium circuit)

TiO2 precipitation

TiO2 recovery (filtration)

Surface treatment

Finish product TiO2 pigment

Regenerated HCl

Co-product Iron oxide

Co-product Magnesium oxide

Regenerated HCl

Acid regeneration

Acid regeneration

Lixiviant Mixed acids

HCl recycling system

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ARGEX’S CTL PROCESS

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CTL PROCESS :

MULTIPLE ADVANTAGES Sulphate Chloride CTL

Raw material cost ($/ton of TiO2 feed)

Low

Ilmenite

($350)

High

Rutile

($1800)

Low

Ilmenite

($200)

TiO2 final product ($/ton of TiO2)

Low purity

($3500+)

High purity

(~$4500)

High purity

(~$4500)

Capital expenditure Medium High Low

Operational costs Medium High Low

Environmental High Medium Low

Flexibility in processing

raw material

Limited

(Cr, V)

Limited

(Mn, Mg, size) Complete flexibility

Process Condition

High temp.

High pressure

(140-180 0C)

Very High temp.

High pressure

(800-1,400 0C)

Low temp.

Atm. pressure

(70 0C)

TiO2 Pigment production Rutile/Anatase Rutile Rutile/Anatase

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Argex’s CTL Product

Competitive Product 1 Competitive Product 2

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State of the art, off-the-shelf, proven equipment:

Solvent extraction equipment has been used for

many years for uranium, copper, nickel, rare earths,

etc. on much larger scales than we are planning.

Filtering, rotary kilns, coating and finishing are proven

TiO2 technologies.

Existing building and infrastructure at Valleyfield, QC.

Solvent extraction typically scales up 15,000 to

100,000 times, Argex will only be scaling up 15,000

times.

All other equipment selection is based on off the shelf

designs already being used in the industry to minimize

redesign and scale up risks.

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RGX™ 100 Series RGX™ 200 Series

Pigments for

Cosmetics, Food and

Pharmaceuticals

RGX™ 171: very high

purity grade designed for

food, cosmetics and

pharmaceuticals

applications.

RGX™ 300 Series

Pigments for

Plastics

RGX™ 220: high durable

grade designed for plastics

applications like PVC,

plastisols, polyolefins,

masterbatches and

advanced plastics.

Pigments for

Coatings

RGX™ 330: high durable

grade designed for

coatings applications like

architectural (indoor and

outdoor), industrial paints

(water-bone and solvent)

and consumer, coil coating,

powder coatings.

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1. Technical

Collaboration 2. Purchase & Supply

Agreement

Began collaborating in late 2011 and

will continue. Argex will be a significant TiO2

supplier to PPG.

2012

Two Parts To The

Agreement:

Announced their joint efforts to develop a TiO2 product

meeting conventional standards for architectural paint.

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Production capacity ( first module ) - 50,000 tonnes / year

Pre-tax IRR – 40.1% ( After-tax of 33.8% )

Pre-tax NPV - $964.4 million ( After-tax NPV of $678.3 million ) ( 8% discount )

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END-USER COLLABORATION

NDA’s are currently in place with major end-users and distributors.

ARGEX is developing collaborative partnerships in the following sectors

to accelerate and de-risk the learning curve:

• Architectural Paint and Coatings

• Cosmetics, Food and Pharmaceuticals

• Plastics

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Lead-user agreements.

Feasibility-stage study.

Secure industrial plant location.

$5M private placement with Ressources Quebec

$5M private placement with U.S.-based investment fund

TSX listing

Project financing of first industrial-sized module.

Continued process improvements

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SHARE STRUCTURE

Recent Price $1.04

52 Week High $1.45

52 Week Low $0.80

Market Cap ~$130 million

Outstanding 132,026,231

Options 10,749,500

Warrants 11,052,038

Fully Diluted 153,827,769

As of October 1, 2013

Capitalization

Market Performance

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Full Coverage: Byron Capital

Mackie Research

Cormark

Securities

ANALYST COVERAGE

Mention: Wells Fargo

Jefferies Bank

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Roy Bonnell - President & CEO, Director, Founder

CFO, Vice President, Corporate Development and Corporate Secretary of Argex 2007 to 2011.

Managing Director, Atwater Financial, 2003-2010.

M.Sc. Accounting & Finance (London School of Economics), MBA (McGill), L.L.B. (Western), B.A. (Queen’s).

Enrico Di Cesare - COO, VP Technology

Metallurgy, operations, know-how transfer, and management; Severstal, Danieli, Sammi Atlas Steel, Hoogovens/Corus/Hatch.

Metallurgical Engineer from McGill University.

Mark Billings - CFO, Director, Founder

Chief Financial Officer and Founder of Argex; President from 2007-2009.

BA (Honours) from Carleton University and an MBA from the Harvard Business School; Chartered Financial Analyst.

André Laferrière - VP Mining and Geology

Argex’s NI 43-101 Qualified Person.

Professional registered geologist with over 15 years experience in exploration and mineral development projects for various commodities, including mineral resource estimation and NI 43-101 reporting.

M.Sc. in geology (Université de Montréal).

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Geneviève Marchand - General Counsel and Corporate Secretary

Counsel and Partner, Davies Ward Phillips and Vineberg, from 2000-2005.

LLM from London School of Economics; LLB from Laval University.

Member of the Quebec Bar.

Ian Cox - Head of Engineering and Construction

Over 30 years’ experience, held executive positions in technology companies, construction and technology equipment providers to the metallurgy industry.

BS (Honours) from Leeds University.

Academic studies also include the University of Tennessee, Massachusetts Institute of Technology (MIT), and Harvard Business School.

Has published over 20 technical papers on the design, construction and operation of metallurgical furnaces.

Philippe Guillemaille - Manager, Sales and Marketing

Regional Business Manager, Europe & Africa for Kronos, a leading TiO2 producer company, from 1998-2011.

Graduate from the University of Chemistry of Lyon.

Peter Waugh – Team Leader, TiO2 Pigment Development

Past Technical Director for Huntsman Pigments.

Holds a degree in Mining Geology from Imperial College of London.

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Robert Guilbault - Chairman of the Board of Directors

Former President and CEO of Aluminerie Allouette Inc., Sept-Îles, Quebec.

General Manager of BHP Billiton’s Hillside Aluminum at Richard’s Bay, South Africa.

Has worked in the mining production field for twenty years.

Normand Bergeron - Director

Executive Counsellor at Samson Bélair/Deloitte & Touche since October 2011.

Chief Executive Officer of Infrastructure Québec from its creation in March 2010.

Deputy Minister, Québec Department of Natural Resources and Wildlife, from May 2005 to July 2009.

Member of Hydro-Québec’s Board of Directors (2005-2009).

Mazen Haddad - Director Former President of Township Capital Inc.

Received a B.A. degree in Economics from Emory University of Atlanta, Georgia.

Florian Rais – Director Founder of Far Investments Inc. a private equity and corporate finance firm

Partner at Tangent Venture, a private equity investment firm in London, England

Director of Blue Wall Shipping Limited and China Motors Ltd.Received a BA and MBA from University of Lausanne Business School

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Strategic partnership agreements

Commence ordering equipment

Project financing of the first industrial-sized module

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MANAGEMENT TEAM

Roy Bonnell, President & CEO

roy@argex.ca

Tel. : +1 514-788-8932

Mark Billings, CFO

mark@argex.ca

Tel. : +1 514-296-1641

CORPORATE HEADQUARTERS

630 Sherbrooke Street West, Suite 410

Montreal, Quebec H3A 1E4, Canada

Fax : +1.514.843.9208

www.argex.ca

Auditors: BDO Dunwoody

Legal Counsel: Heenan, Blaikie LLP

Transfer Agent: Canadian Stock Transfer

Company Inc.

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All of Argex’s public filings can be found on SEDAR (www.sedar.com)

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