Platinex Announces Intentions for Activity Focus This Year - Seite 3

In February, 2018 Platinex filed an exploration plan and applied for a three year exploration permit which has been approved.

A NI 43-101 report on the Shining Tree property was filed in June, 2018.

Platinex has entered into exploration agreements with the Mattagami and Matachewan First Nations in respect of the Shining Tree property.

Platinex intends to implement the first phase of the exploration program outlined in the Shining Tree Property Technical Report dated June 8, 2018 subject to conducting additional financings. The Phase 1 program is to include compilation work, an Airborne LIDAR survey, an Airborne gradiant magnetic survey and 3,000m of diamond drilling.

Platinum Palladium Exploration Platinex was incorporated in 1998 to continue the continent-wide exploration for Platinum Group Elements (mainly platinum, palladium and rhodium) begun by International Platinum Corporation in the 1980s. The collective work has examined in depth over 40 properties in some 31 large layered mafic intrusions. From a geological perspective this was groundbreaking work resulting in discovery or establishment of reef type mineralization in a number of intrusions including:

Stillwater Intrusion, Montana – The Picket Pin Reef
Duluth Complex, Minnesota – The Birch Lake property
Fox River Sill, Manitoba – Unnamed PGE mineralization
Big Trout Lake Intrusive Complex, Ontario – four PGE reefs and one inferred reef, unnamed

(see Press Release ‘PLATINEX ANNOUNCES UPDATE ON BIG TROUT LAKE PLATINUM-PALLADIUM ROYALTY’ January 23, 2020).

James Trusler stated, “There is currently a chronic shortage of palladium to meet industrial demand. At the same time there is an opportunity if a large supply of cheap platinum can be made available to stimulate large scale adoption of the platinum-based hydrogen fuel cell. Platinex has the expertise and experience to make the next great PGE discovery hence the invitation to serious, well financed parties.”

The information presented in this news release has been reviewed and approved by James R. Trusler, P.Eng., Chairman and Interim CEO of the Company and the Qualified Person for exploration at the Shining Tree property, as defined by National Instrument 43-101 ‘Standards for Disclosure for Mineral Projects’.

About Platinex Inc.

Platinex is currently focusing efforts on its mining business in assembling a very large property in the Shining Tree gold camp, which has received little modern exploration compared to other gold camps in the Abitibi Greenstone Belt.  The Company utilizing its proprietary data is also seeking financial backing to secure and advance major Platinum Group Element properties in North America. Shares of Platinex are listed for trading on the CSE under the symbol "PTX".