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Argex to Sell Mouchalagane Iron Ore Property to Impact Iron Mines, Starting Spin-Off Process

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Argex Mining Inc. (RGX.V) announced today that its Board of Directors has unanimously approved the sale by Argex of the Mouchalagane iron ore property to Impact Iron Mines Inc., Argex's wholly-owned subsidiary.

Argex President and CEO, Roy Bonnell, said: "The Mouchalagane property is an undeveloped iron ore property in the Fermont-Labrador City mining district with significant near-term mineral resource potential. Our focus is to unlock the value of this asset for Argex's shareholders. The sale of the Mouchalagane property to Impact Iron Mines is the first step in the spin-off process to create two public companies: Argex as a titanium dioxide pure-play and Impact as a pure iron ore company."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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