TORONTO, ONTARIO–(Marketwired – April 24, 2017) – Platinex Inc. (CSE:PTX)(CSE:PTX.CN) (the “Company”) has agreed to purchase 267 claim units totaling 4,272 hectares (10,680 acres) in the Shining Tree area of Ontario. The vendor will receive 391,250 shares of Platinex Inc. in exchange for Platinex receiving a 100% interest in the claims. The units are contiguous with the Platinex Shining Tree project, centered on the Ridout-Tyrrell Deformation zone between IAMGOLD Corp’s Cote Lake project and Tahoe Resources’ Juby Project. The acquisition now brings Platinex holdings in the Shining Tree area to 743 claim units covering 11,888 hectares (29,720 acres).
About Platinex Inc.
Platinex’s goal is to create shareholder value through entrepreneurial endeavors and its existing mineral exploration activities. The mining focus is currently on the Shining Tree gold camp, which has received little modern exploration compared to other gold camps in the Abitibi Greenstone Belt. However, its potential is accentuated by several major discoveries in recent years along a major deformation zone which also underlies the Shining Tree property. Platinex`s current entrepreneurial activities include the establishment of a cannabis mall. Shares of Platinex are listed for trading on the Canadian Securities Exchange (“CSE”) 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”.
To receive Company press releases, please email [email protected] and mention “Platinex press release” on the subject line.
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.
James R. Trusler
President and CEO