Argex Commences Equipment Ordering Process For Valleyfield Plant

• Vendors have commenced preliminary engineering for the longest lead items
• Delivery-time on other items have been reduced materially
• Argex focused on 2015 production and revenue

MONTREAL, Nov. 25, 2013 /CNW Telbec/ - Argex Titanium Inc. (TSX: RGX) ("Argex" or the "Company") announced today that it has commenced preliminary engineering work with the equipment vendors for the longest lead items as the first step in the ordering of the equipment for the Valleyfield industrial-sized plant.

"This is an important step in the equipment ordering process," commented Enrico Di Cesare, Argex's Chief Operating Officer and Vice-President of Technology, "it effectively maintains our company's planned schedule by securing our priority with the vendors for delivery."

"Furthermore, other equipment items that we had previously identified as having some of the longest lead times have been recategorized based on updated vendor information," commented Mr. Di Cesare, "the ongoing testing work that we have been carrying-out with many of the equipment vendors have led to their improved understanding of our requirements and this has led to materially reduced delivery times. In some cases, weaker market conditions for required equipment have also improved the delivery times and prices previously expected."

"Our core strategy at Argex continues to be to mitigate risk while moving rapidly towards 2015 production and revenue," he added, "the next steps will be the finalization of the purchase orders for the long lead items and the selection of the remaining equipment in the first quarter of 2014."

About Argex Titanium Inc.

Argex Titanium Inc. is a near-term producer of Titanium Dioxide (TiO₂) pigment. With a primary goal of advancing rapidly towards production, Argex has adopted a simple and low-risk strategy for the scale-up of its proprietary process. Argex is pleased to have selected Valleyfield, Quebec as the location for its Research & Development centre and first industrial-sized production facility. The location of the site can be viewed at Argex Valleyfield.

Forward-Looking Statements
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SOURCE Argex Titanium Inc.