Mr. Greg Ferron reports

PTX METALS UPDATES: ONTARIO'S PREMIER ANNOUNCES SUPPORT TO UNLEASH THE ECONOMIC POTENTIAL FOR CRITICAL MINERALS AND ENERGY IN ONTARIO AND RING OF FIRE

PTX Metals Inc. is pleased to hear the announcement of Ontario Premier Doug Ford on April 17, 2025, that took place at the Exchange Tower in Toronto about the new legislation for Ontario to unleash the economic potential for critical-minerals and energy projects. As Mr. Ford declared a positive step forward for the mining industry, he emphasized strong support in designating the Ring of Fire as an important economic zone and the urgency for infrastructure development, and streamlining approval processes. The bill would give the province the new authority to designate special economic zones for strategically important projects, like the Ring of Fire mining development.

Greg Ferron, chief executive officer and president of PTX Metals, stated: "We are delighted to see such positive enhancements within the province of Ontario related to resource development and the potential legislation designating the Ring of Fire as an important economic zone. Importantly, we are also pleased to hear that first nations will be included as a partner in the development of the area. As for PTX, it will support the growth of our projects: the W2 project, which hosts substantial mineralized zones hosting critical metals, including copper, nickel, gold and PGEs [platinum group elements]; and our Shining Tree/Heenan Mallard gold projects near Timmins."

The company recently announced the details of its active exploration program at the W2 copper-nickel-PGE project, along with plans for subsequent work programs. The W2 project is a 22,000-hectare property located southwest of the Ring and Fire and 160 kilometres from the existing Pickle Lake all-season road, and 30 to 35 km southwest of the proposed utility corridor and all season Webequie supply road.

Currently, the company is making progress with a program consisting of drilling, a HeliGT magnetic survey and, most importantly, enhancement of a three-dimensional geological model over the central target. The magnetic survey and the 3-D geological model have provided PTX with a better understanding of controls of the mineralization in the central area, which hosts the CA and AP zones, as well as simultaneously defining new areas of interest across the W2 project.

In September, 2024, the company reported a substantial, near-surface exploration target in the central target (see press release dated Sept. 4, 2024).

As PTX is advancing into the exploration program, the company expects to update its exploration target as knowledge on the W2 property are being enhanced.

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 strategic metal assets in Northern Ontario, allowing exposure for shareholders to copper, gold, nickel and platinum group elements. The province of Ontario is renowned as a top mining jurisdiction for its abundance of mineral resources and investment opportunities.

The company's corporate objectives are to advance its assets and unveil the potential of its two flagship projects: the W2 Cu-Ni-PGE project, located in the strategic Ring of Fire, and the Shinning Tree gold project, which is a neighbour of multimillion-ounce gold deposits in the Timmins gold camp.

PTX's portfolio of assets was 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.

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