Mr. Greg Ferron reports

PTX METALS COMPLETES W2 PROJECT PROPERTY-WIDE AIRBORNE MAGNETIC SURVEY

PTX Metals Inc. has recently completed a property-wide, high-resolution airborne magnetic survey on its W2 copper/nickel/platinum group element project. Scott Hogg & Associates (SHA) was commissioned to fly a 3,191-line-kilometre Heli-GT survey covering the entire property at 75-metre line spacing. The Heli-GT system records triaxial magnetic gradient data flown at low altitude and tight-line spacing to provide industry-leading magnetic data, which will be used to target the subtle magnetic anomalies associated with copper/nickel/PGE mineralized gabbro bodies at the W2 project. The infrastructure and equipment used for the survey were based out of Webequie First Nations and the survey was completed ahead of schedule. Delivery of final magnetic products from SHA is expected by the end of the month.

Ryan Weston, PGeo, head of PTX's W2 project technical committee, stated: "The Heli-GT airborne magnetic survey, coupled with SHA's proprietary GT-Grid gridding software, is widely regarded as one of the best airborne magnetic products on the market. We are excited to receive the final product from SHA, which will provide PTX with detailed information and high-quality magnetic data needed to identify many of the subtle yet important magnetic features on the W2 project and ultimately will form the basis of our property-wide geological interpretation and 3-D modelling efforts in the central area as we advance drill targets."

Financing

In addition to the financing that closed in December raising total combined gross proceeds of $3,419,834 (see press release dated Dec. 11, 2024), the company is also pleased to inform the closing of the previously announced $180,000 Quebec flow-through private placement at 15 cents per share of PTX, resulting in the issuance of 1.2 million common shares (please see press release dated Dec. 30, 2024). All securities issued in connection with this private placement will be subject to a four-month-plus-one-day hold period from the date of issuance in accordance with applicable securities laws.

Stock options granted

PTX Metals announces that it has granted an aggregate of 1,375,000 incentive stock options of the company to certain directors, officers, employees and consultants of the company in accordance with the company's stock option plan. Each option is exercisable to acquire one common share of the company at an exercise price of 15 cents per common share for three years. The options are subject to vesting conditions. Further, in November, 2024, 937,500 stock options expired.

Qualified person

The technical information presented in this news release has been reviewed and approved by Ryan Weston, PGeo, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About PTX Metals Inc.

PTX is a mineral exploration company focused on high-quality critical mineral projects, including two flagship projects situated in Northern Ontario, renowned as a world-class mining jurisdiction for its abundance of mineral resources and investment opportunities. The company's corporate objective is to advance the exploration programs toward proving the potential of each asset, which includes the W2 copper/nickel/PGE and gold project and the South Timmins gold joint venture project.

PTX's portfolio of assets offers investors exposure to some of the world's most valuable metals, including gold, as well as essential critical minerals for the clean energy transition -- copper, nickel, PGEs, uranium and rare metals. PTX's portfolio of assets were strategically acquired for their geologically favourable attributes and proximity to established mining companies. PTX's mineral exploration programs are designed by a team of expert geologists with extensive career knowledge gained from their tenure working for global mining companies in Northern Ontario and around the world.

PTX 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.

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