TORONTO, ONTARIO–(Marketwired – June 21, 2017) – Platinex Inc. (CSE:PTX)(CSE:PTX.CN)(CNSX:PTX) (the “Company”)
has agreed to purchase 127 claim units totaling 2,032 hectares (5,080 acres) in the Shining Tree area of Ontario. The vendor will receive 436,190 shares of Platinex Inc. in exchange for Platinex receiving a 100% interest in the claims. The acquisition plus the existing property holdings of Platinex are underlain by a 21 km strike length of the Tyrrell-Ridout Deformation Zone which Platinex believes is an important locus of gold mineralization as is evident on nearby IAMGOLD Corp’s Cote Lake project and Tahoe Resources’ Juby Project. The accompanying map shows the juxtaposition of Platinex’s Shining Tree property and major neighboring properties. The acquisition now brings Platinex holdings in the Shining Tree area to 876 claim units covering 14,016 hectares (35,040 acres).
To view the map accompanying this press release please click on the following link: http://media3.marketwire.com/docs/PTX0621.jpg
About Platinex Inc.
Platinex has a long history of resource exploration and continues to focus efforts in this area, and in addition is now exploring and developing business opportunities in the cannabis industry. Platinex is currently concentrating efforts on the timely and strategic development of an online platform for the cannabis industry. At the same time Platinex has been focusing its mining business efforts 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. Shares of Platinex are listed for trading on the Canadian Securities Exchange under the symbol “PTX”.
The information presented in this news release has been reviewed and approved by James R. Trusler, Geological Engineer, the Chief Executive Officer of the Company and the Qualified Person for exploration at the Shining Tree property, as defined by National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.
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Certain of the information contained in this news release may contain “forward-looking information”. Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Platinex, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company’s control. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.