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Platinex Announces Further Expansion of W2 Copper-Nickel-PGE Project, Canadian Business Journal

Toronto, March 17, 2022 (GLOBE NEWSWIRE) — Platinex Inc. (CSE: PTX) (Frankfurt: 9PX) (“Platinex” or “Company”) Its wholly owned subsidiary, Endurance Elements Inc. We are pleased to announce that (“Endurance Elements”) has obtained 149 mining claims along the western boundary of the W2 Copper-Nickel-PGE Project (“W2 Project” or “W2”). Ring of Fire, Ontario (see press releases dated 17 January 2022 and 27 January 2022). Additional 2,932 hectares (29.3 km)2) W2 land package on the ground will be 15,973 hectares (159.7 km)2). Endurance Elements is 100% interested in W2 projects.

The W2 project is currently a layered bitter iron-super-large Lansdowne House igneous complex (“LHIC”) that is very promising for copper nickel (Cu-Ni) and leaf-type platinum group element (PGE) deposits. ) Covers about 80%. Extensive Cu-Ni-PGE mineralization is depicted in at least seven important mineralization zones within a 7.5 km long folded corridor. The common thread of strong Cu-Ni-PGE, Cr, Ti-V mineralization in the mafic ultramafic intrusive rocks ringing the Oxford Stardome is a common source, a very large magmatic system, and therefore. Invasion suggests the potential considerable abundance of each metal.

The new claim adds a strike length of 10 km to the project, W2 extends 35 km along the Lavoie Lake Shear Zone System, and in the west to Northern Superior Resources Inc.’s TPK project (25.87 g / t Au over 13.5 m). Connect .. In addition, a new claim in the northern section of W2 covers the strike extension of the known Fe-Ti-V oxide layer.

According to a previously announced sale agreement between Endurance Elements Inc. and Springer Mineral Resources Corporation (“Springer”), some of the 149 mining claims are additional properties, with a 0.5% net smelter revenue in favor of Springer (“Springer”). NSR) Eligible for royalties. ..

We are currently editing W2 historical data and developing an exploration plan. Additional information about new claims and W2 projects is available in the presentation on our website (www.platinex.com).

The information contained in this news release is from our consulting geologists Ike Osmani, P. Geo and Chairman of Platinex Inc., James R. Trusler, P. Eng. It has been reviewed and approved by and both are considered qualified. Exploration in the W2 project as defined in the National Instrument 43-101, Minerals Project Disclosure Standards.

About Platinex Inc .: Platinex creates shareholder value by opportunistically acquiring and promoting quality projects in Ontario’s abundant mining camps. Current assets include 100% ownership of the district-wide W2 Copper-Nickel-PGE project and 100% ownership of 225 km.2 Shining Tree Gold Project in the Abitibi region of Ontario, the world-famous Gold District. The W2 project manages one of the major complexes of the Oxford Star Dome. The Shining Tree Project, heading west from the Bowden Mine in Newmont, passes through the area of ​​the IAM GOLD Coat Gold Deposit and covers most of the Redout-Tyrell Deformation Zone that spans the entire Jubby Project in Alice Gold. We are also developing a loyalty portfolio of net smelter income (NSR) and currently hold royalties on Ontario’s gold, PGE, and base metal assets.

For more information, please contact CEO Greg Ferron (416-270-5042) or email (gferron@platinex.com).

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Future-oriented statement:
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as a guarantee of future performance or results. Such statements include known and unknown risks, uncertainties, and other sources that may cause actual results, performance, or outcomes to differ materially from those implied by such statements. Factors are included. Such statements include the use of proprietary data to seek financial assistance to advance the Platinum Group’s assets, the submission of relevant documentation for the satisfaction of relevant regulatory agencies within the required time frame, and the applicable. A strategy that includes the completion of the acquisition of assets and sufficient financing to complete the company’s business. There is no certainty that any of these events will occur. Such statements are based on management’s reasonable assumptions, but there is no guarantee that such assumptions will prove correct. We are not responsible for updating or revising new events or circumstances to reflect new events or circumstances, except as required by applicable securities law.

This press release does not constitute an offer to sell or solicit a purchase, nor will securities be sold in states where such offer, solicitation or sale is illegal. Securities issued or will be issued under a private placement have not been and will not be registered as amended under the Securities Act of 1933. Applicable exemptions from registration requirements.

The Canadian Stock Exchange has not endorsed or denied the content of this press release.


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Platinex Announces Further Expansion of W2 Copper-Nickel-PGE Project, Canadian Business Journal

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