Platinex Inc. Announces the Appointment of Director

TORONTO, Sept. 02, 2020 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE: PTX) (the "Company" or "Platinex") is pleased to announce that Mr. Greg Ferron has been appointed to the Platinex Board as an independent director, effective today, and that Mr. Gary Galitsky will be stepping down. Mr. Ferron will chair the newly formed finance committee.

Mr. James R. Trusler, Chairman of Platinex, stated, “We are thrilled to have Greg join our Board. His experience in both the mining and capital markets sectors will certainly contribute to the Company’s success moving forward. Greg has demonstrated in his work for Treasury Metals a great sense of alignment with shareholder value.

“The Company will be launching a comprehensive and progressive exploration program on its District scale gold property in the Shining Tree area of Ontario. The program will commence on several known deposits on the property as well as focus efforts on the under-explored 21 kilometres of the Ridout-Tyrrell deformation zone, which hosts both Iamgold's Cote Lake gold deposit and Caldas Gold's Juby deposit. Mr Ferron’s talents will be essential as access to capital is an important aspect of the Company’s game plan.”

Mr. Greg Ferron, newly appointed director, stated, “Platinex has a unique position in the Shining Tree gold camp, having the largest gold-focused property package and an exciting exploration program ahead. I look forward to working with Jim and his team on their upcoming exploration program and analysing other strategic opportunities before the company.”

Mr. Ferron held various positions, including as a member of the stock list committee and heading the Global Business Development and Corporate Finance for the mining sector, at the Toronto Stock Exchange and the TSX Venture Exchange and in corporate development roles at Treasury Metals, Laramide Resources and Vena Resources. Prior to that, Mr. Ferron was an Analyst at Scotiabank. Mr. Ferron holds a Bachelor of Commerce from the University of Guelph.

Platinex would like to thank Mr. Galitsky for his contributions and wish him well in future endeavours.

The Company would also like to announce that it has granted 650,000 options to a senior officer and director. The options are priced at the previous days close of $0.06 and expire 5 years from today’s date.

Lori Paradis, Assistant Secretary
Tel: (416) 268-2682
Email: lparadis@platinex.com
Web: www.platinex.com

About Platinex Inc. – Advancing a District Scale Project in an Abitibi Gold Camp
Platinex is focusing its efforts on the exploration of its property in the Shining Tree District. Platinex has created the largest combined gold focused property package in the Shining Tree District, northern Ontario, 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".

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

FORWARD-LOOKING STATEMENTS:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include use proprietary data to seek financial backing to advance its platinum group properties, submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of applicable assets and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances, except as required by applicable securities laws.

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