21:37:32 EDT Wed 03 Jun 2026
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PTX Metals Inc (2)
Symbol PTX
Shares Issued 174,140,430
Close 2026-06-03 C$ 0.12
Market Cap C$ 20,896,852
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PTX Metals drilling Ronda target at Shining Tree

2026-06-03 20:04 ET - News Release

Mr. Greg Ferron reports

PTX METALS ADVANCES SHINING TREE GOLD PROJECT WITH START OF DRILLING AT PRIORITY RONDA TARGET

PTX Metals Inc. is advancing the next phase of its exploration activities at the Shining Tree project, located south of Timmins in Ontario's gold belt, with drilling now under way at the priority Ronda target.

The program follows several years of technical work that has strengthened the company's understanding of the property's geological potential and identified multiple opportunities to expand known gold and base metal mineralization within a broader emerging district-scale exploration corridor.

The Ronda target is considered a priority drill location and will follow up on the previously sampled, 2024 trench program that returned up to 60.30 grams per tonne (g/t) gold over 1.0 metre and an average of 9.0 g/t gold over 16.0 metres of continuous channel sampling subparallel to the mineralized corridor. The phase 1 program consists of approximately 1,250 metres of diamond drilling (six holes) designed to test the Ronda target at depth and along strike.

"The Ronda target represents one of the most compelling near-term opportunities within our Shining Tree portfolio," said Greg Ferron, president and chief executive officer of PTX Metals. "This program is designed to test the continuity of high-grade mineralization while continuing to build our understanding of a broader mineralized corridor in one of Ontario's most prospective gold districts. With existing infrastructure, strong regional exploration activity and multiple targets across the property, we believe Shining Tree offers significant discovery and growth potential."

Alongside drilling, the company will continue advancing regional target generation efforts aimed at identifying additional zones of mineralization across the property and supporting long-term growth potential within the district where historic copper mineralization of 3.93 per cent copper and 71.2 g/t silver was discovered.

Recent geological mapping, sampling and structural interpretation work have significantly enhanced PTX's understanding of the mineralized system at Shining Tree. The work has highlighted the importance of the Ridout-Tyrrell deformation zone (RTDZ), a major regional structure associated with several significant gold deposits in the district and has generated a growing pipeline of exploration targets beyond Ronda.

The RTDZ hosts significant deposits, including the Juby deposit and Cote gold mines, and is located within the rapidly developing yet underexplored Shining Tree district of the southern Abitibi greenstone belt.

The Ronda target has been diligently mapped and sampled by PTX's technical team and coincides with the historical underground Ronda mine. Limited exploration work has been conducted since the surface acquisition by PTX from Alamos Gold, until PTX's recent activities.

Surface sampling program

Concurrently with the diamond drilling program, the company is launching a soil sampling program over the four recently identified targets, most of which are situated along the newly recognized structural RTDZ corridor. The program will include approximately 1,000 samples and is designed to systematically refine these mineralized zones and support the identification of larger-scale potential across the project. Access to the northwestern target has improved significantly in recent years due to the development of new logging roads. The program is designed to target the interpreted main break and associated splays of the Rideout-Tyrell deformation zone in the northwestern and R-Break extentsion target areas.

Qualified person

The technical information in this news release has been reviewed and approved by Kevin Wells, PGeo, a non-independent qualified person, as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, who is responsible for ensuring that the related technical information provided in this news release is accurate.

About South Timmins Mining Corp.

South Timmins Mining has a 100-per-cent interest of the Shining Tree gold project and Heenan Mallard gold projects, with PTX owning 75 per cent of the equity and Fancamp Exploration Ltd. owning the remaining 25-per-cent equity.

About PTX Metals Inc.

PTX is a proudly Canadian mineral exploration company advancing gold and critical minerals projects in Northern Ontario, including its W2 copper-nickel-PGE project in the Ring of Fire and the Shining Tree gold project in the Timmins gold camp. PTX offers shareholders exposure to copper, gold, nickel and platinum group element (PGE) discoveries. The province of Ontario is a mining jurisdiction renowned for both its abundance of critical minerals and stable regulatory environment.

The company's corporate objective is to advance its assets, unlocking the full potential of two flagship projects, the W2 Cu-Ni-PGE (copper, nickel and platinum group element) project, located close to existing winter road infrastructure at the gateway to the strategic Ring of Fire region, and the Shining Tree gold project, neighbouring other known deposits in the Timmins gold camp.

PTX's portfolio of assets was strategically acquired for the assets' geologically favourable attributes and proximity to established mining companies.

PTX is based in Toronto, Canada, with a primary listing on the Toronto Stock Exchange under the symbol PTX. The company is also listed in Frankfurt under the symbol 9PX.F and on the OTCQB in the United States as PANXF.

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