Mr. Greg Ferron reports

PLATINEX ANNOUNCES FLOW THROUGH FINANCING

Platinex Inc. has arranged a $1-million flow-through financing of which $525,000 has closed. The company issued 13,125,000 flow-through common shares at a price of four cents per share. The company anticipates closing a final tranche of the offering shortly.

Each FT common share consists of one common share of the company.

The company will use the gross proceeds of the FT offering to incur eligible Canadian exploration expenses that are flow-through critical mineral mining expenditures and will qualify as flow-through mining expenditure as such terms are defined in the Income Tax Act (Canada) related to the W2 copper-nickel-platinum-group-element project, on or before Dec. 31, 2024. All qualifying expenditures will be renounced in favour of the subscribers effective Dec. 31, 2023.

All securities issued in connection with this offering are subject to a four-month-plus-one-day hold period from the closing date in accordance with applicable securities laws.

The closing of the offering is subject to certain conditions including, but not limited to, receipt of all necessary regulatory approvals. The company may pay finder's fees to eligible finders in connection with the offering.

About W2

W2 is a district-scale land package comprising 1,122 cell units covering 22,094 hectares (220 square kilometres) in an area of world-class geological targets located in the Oxford Stull dome complex near Ontario's Ring of Fire. W2 controls the mineral-rich and underexplored, layered mafic-ultramafic Lansdowne House igneous complex (LHIC), which is highly prospective for copper-nickel (Cu-Ni), platinum group element (PGE), gold and chromite deposits. The common thread of strong Cu-Ni-PGE, chromium and titanium-vanadium mineralization in the mafic-ultramafic intrusions ringing the Oxford Stull dome is suggestive of a common source, a very large magmatic system and therefore a potential significant abundance of metals in each intrusion.

Historical work, including approximately 20,000 metres of drilling in the W2 area by operators such as INCO and Aurora Platinum, has been delineated at least seven significant mineralized zones within a 7.5 km long folded corridor near the centre of the land package. Additionally, VTEM (versatile tile-domain electromagnetic) and AeroTEM II airborne geophysical surveys have identified multiple high-priority conductors in the eastern section of the property which have yet to be drill tested.

About Platinex Inc.

Platinex creates shareholder value through the opportunistic acquisition and advancement of high-quality projects in prolific Canadian mining camps. Current assets include a 100-per-cent ownership interest in the W2 copper-nickel-PGE project near the Ring of Fire in Northern Ontario and a 75-per-cent interest in the South Timmins Mining joint venture with Fancamp Exploration, which is focused on gold exploration along the Ridout-Tyrell deformation zone near Iamgold's Cote Gold operation in the southwest Abitibi. Platinex also holds majority ownership in Green Canada Corp., which holds uranium assets in Saskatchewan, Ontario and Quebec, as well as an option to earn as a 100-per-cent ownership interest in the Muskrat Dam critical minerals project in Northwestern Ontario. In addition to its mineral exploration assets, Platinex holds a portfolio of net smelter return (NSR) royalties on gold, PGE and base metal properties in Ontario. Having put together a strong and diversified project portfolio and an expert technical team, the company is focused on comprehensively exploring and evaluating each project to maximize shareholder value. Platinex is based in Toronto, Canada, with a primary listing on the Canadian Securities Exchange under the symbol PTX. The company is also listed in Frankfurt under the symbol 9PF and on the OTCQB in the United States as PANXF.

We seek Safe Harbor.