Mr. Greg Ferron reports

PTX ANNOUNCES COMMENCEMENT OF A PHASE 2 PROGRAM AT W2 CU-NI-PGE PROJECT, ONTARIO

PTX Metals Inc. has commenced a phase 2 program at its 100-per-cent-owned W2 copper-nickel-platinum-group-element project and has released plans for subsequent work programs. The W2 project is a 22,000-hectare property located directly southwest of the Ring of Fire, Ontario.

Drilling program

The phase 2 drill program consists of up to 10 holes that are designed to test and expand zones of mineralization in CA-1 and CA-2 in the Central target area. Preliminary results from the first five holes drilled have shown intercepts of visible mineralization as disseminated, semi-massive to massive sulphides over significant widths. Assay results have yet to be received.

A key priority is bringing the exploration target outline of Sept. 4, 2024, to a potential mineral resource estimate and expansion of mineralization in the interzone located between the CA-1 and CA-2 zones that could cumulate a four-kilometre strike length.

Drill targets were generated from a newly developed 3-D geological model led by SunDog Geology over the Central target focused on the CA zones. A similar model will be completed on the AP zones in April. This new interpretation will lead to expanding the mineralized corridor of the CA zones toward the northeast, derisking further work spending.

Additionally, the company has completed a property-wide HeliGT magnetic survey of 3,191 line kilometres, for which both the 3-D geological model and the mag survey results will be announced shortly. Such compilation aims to build confidence in expanding a larger mineralized system starting with the Central target and simultaneously defining new areas of interest across the W2 project.

Operations for the drill program are based out of the Webequie First Nation, situated 50 kilometres north of the W2 project. The company received drill permits from Mines on June 14, 2023, and Nov. 29, 2024 (see news release dated June 19, 2023, and Dec. 4, 2024).

Work plan and company technical strategy

The company has undertaken steps since consolidation of the W2 project to derisk and increase value of the asset -- starting with validation of historical data, including consolidation of the database, an initial exploration target outline, and a phase 1 stepout and expansion drill program primarily in the AP zones and regionally carried out in 2024. The program was successful in intersecting magmatic copper-nickel sulphide mineralization across the project (see news release dated July 24 and July 30, 2024).

Currently, the company is focused on additional drilling, improving targeting by implementing geophysical surveys and expanding the current geological model, all of which will be followed up by ground truthing and further drill programs.

As a result, the company is undertaking the following steps for the spring and summer:

• Developing additional targets defined by the magnetic survey review and data compilation;
• Undertake a geophysical induced polarization survey over the CA zones to resolve the geophysical response of the disseminated, semi-massive to massive sulphide mineralization and test for continuity beyond the areas of historic drilling;
• Additional drilling on CA interzone aiming to complete the connection between known mineralized zones, which were previously identified by historical drilling;
• Field mapping and ground truthing in areas of coincident magnetic and AEM anomalies on the property, which have never been tested previously within the Central target as well as at the property scale;
• Age dating on gabbro samples from its 2024 and 2025 drill program to determine if the mafic intrusions hosting Cu-Ni-PGE mineralization at W2 are the same age as the mafic-ultramafic intrusions in the Ring of Fire; understanding the relation between W2 and the Ring of Fire may have important implications for the exploration strategy moving forward.

Qualified person

The technical information presented in this news release has been reviewed and approved by Joerg Kleinboeck, PGeo, a non-independent qualified person to PTX Metals, who is responsible for ensuring that the technical information provided in this news release is accurate and who acts as 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 top mining jurisdiction for its abundance of mineral resources and investment opportunities. Its corporate objective is to advance the exploration programs toward proving the potential of each asset, which includes the W2 Cu-Ni-PGE and the South Timmins gold project.

PTX's portfolio of assets offers investors exposure to some of the most valuable metals, including gold, as well as essential critical minerals for the clean energy transition: copper, nickel, PGE, uranium and rare metals. PTX's portfolio of assets was strategically acquired for the assets' 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 TSX 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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