PTX

Platinex Inc. (TSX VENTURE:PTX) announced today initial results from the latest
drill program. In March of 2012 five holes for 870m were drilled on the property
to test coincident strong IP anomalies and high gold grain counts in till. The
drill holes tested targets along a 4.2km strike length. Due to budgeting
constraints some of the detailed logging and sampling of holes has been
postponed. However geologically significant results were observed in the
program.


The first three holes BP12-01 to BP12-03 inclusive were drilled in the area
south of Bielby Lake and are all significantly mineralized. A broad zone of
sericite and hematite alteration with focused quartz flooding in hole BP12-02
was sampled and analyzed throughout the hole which returned no significant
results. None of these holes evidenced the major shear zone trending through the
area, thus while holes BP12-01 and BP12-03 are strongly mineralized and will be
sampled ultimately it was decided that this is low priority mineralization.


Hole MP12-01 intersected a strongly chloritized but unstrained and unmineralized
intrusive syenite from top to bottom of the hole. Spot sampling of the hole has
revealed values of up to 0.324 g/tonne Au and a more thorough sampling program
will be carried out at a later date. More follow up work will be required to
locate the cause of the IP anomaly.


James R. Trusler, President and CEO of Platinex explained, "The geological
setting of this portion of the Shining Tree property is virtually identical to
the Young Davidson property in Matachewan. The syenite stocks and plugs which
are the drivers of gold in many camps such as in Matachewan is just about the
last piece of the puzzle for Platinex in Shining Tree. The syenite intersected
is an intrusive stock or plug which is coincident with the east west shear zone
striking through the property. The gold in till anomalies appear to encircle the
syenite stock. This realization will enable Platinex to refocus its next stage
of exploration."


Hole CKP12-01 drilled in the southwest corner of the property intersected mafic
to ultramafic volcanic rocks intruded by gabbro and porphyries all of which is
mineralized by a stockwork system of quartz carbonate veining. The rocks are
mildly to well strained or sheared. Portions appear to be mylonitized. A
selection of samples have been submitted for analysis and results will be
reported when available.


For the purpose of this release James R. Trusler P.Eng is the Qualified Person.

About Platinex Inc.

Platinex has recently revealed strong evidence of a major gold bearing zone on
its Shining Tree property as evidenced by an extraordinarily high gold content
of soil samples along a nine km long corridor. Platinex is expanding exploration
on the Herrick gold deposit with 66 holes drilled to date returning encouraging
gold values. Platinex's management team are leaders in the exploration and
development of Platinum Group Elements (PGE's) in North America. Shares of
Platinex are listed for trading on the TSX Venture Exchange under the symbol
"PTX".


To receive Company press releases, please email lparadis@platinex.com and
mention "Platinex press release" on the subject line.


FORWARD-LOOKING STATEMENTS:

Except for statements of historical fact, all statements in this news release -
including, without limitation, statements regarding future plans and objectives,
are forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate; actual
results and future events could differ materially from those anticipated in such
statements.

Platinex Inc. (TSXV:PTX)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Platinex Inc. (TSXV:PTX)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024