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Platinex Announces Appointment of New Director

TORONTO, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE: PTX) (Frankfurt 9PX) (the "Company" or "Platinex") is pleased to announce the appointment of Christophe Vereecke as a director. Mr. Vereecke is a nominee of Treasury Metals Inc. (“Treasury”) as a result of the recent sale of mining claims that are located adjacent to the Company's Shining Tree property, and royalties whereby Treasury became an equity holder of 12.5 million shares and 5 million warrants. The acquisition by Platinex has created the largest combined gold focused property package in the Shining Tree District, Northern Ontario. The Shining Tree property is located on 21km of the Ridout-Tyrrell Deformation Zone which also hosts both IAMGOLD’s Côté Gold gold deposit and Aris Gold’s (formerly Caldas Gold) Juby deposit.

Mr. Vereecke is a businessman and entrepreneur based in Paris, with a background in finance, oil and gas, mine royalties and renewable energy (post mining). As an entrepreneur he has been involved in the startup of several businesses including co-founder and former chief financial officer of Business Oil Platform, a physical oil trading and logistics company operating in Central and Eastern Europe. Mr. Vereecke’s current investment firm specializes in private fund management focused on the extractive industry, mine royalties, precious metals and the diamond markets. He is currently a director of Treasury Metals Inc. since 2015. Mr. Vereecke holds a GG (Graduate Gemologist) from the GIA in USA and an MBA 2 (Wealth Management & Family Office) from Financia Business School in France.

James R. Trusler, President and CEO of Platinex Inc stated, “The acquisition of Treasury’s claims substantially increased the size of Platinex’s Shining Tree holdings abutting the Aris Gold-Juby project and the IMETALS properties. We appreciate the support of Treasury’s nomination and involvement of Christophe as we commence drilling in Shining Tree camp.”

The information presented in this news release has been reviewed and approved by James R. Trusler, P.Eng., Chairman and CEO of the Company and the Qualified Person for exploration at the Shining Tree property, as defined by National Instrument 43-101 ‘Standards for Disclosure for Mineral Projects’.

See the new video coverage titled – “Active Exploration Program at Caswell
Lori Paradis, Assistant Secretary                 
Tel: (416) 268-2682                
Email: [email protected]
Web: www.platinex.com

About Platinex Inc. – Advancing a District Scale Project in an Abitibi Gold Camp
Platinex is focusing its efforts on the exploration of its property in the Shining Tree District. Platinex has created the largest combined gold focused property package in the Shining Tree District, northern Ontario, which has received little modern exploration compared to other gold camps in the Abitibi Greenstone Belt. Shares of Platinex are listed for trading on the Canadian Securities Exchange under the symbol "PTX".

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FORWARD-LOOKING STATEMENTS:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include use proprietary data to seek financial backing to advance its platinum group properties, submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of applicable assets and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances, except as required by applicable securities laws.

Investing into early-stage companies, inherently carries a high degree of risk and investment into securities of the Company shall be considered highly speculative.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

The Canadian Securities Exchange has not approved nor disapproved the contents of this press release.

Photos accompanying this announcement are available at: 

https://www.globenewswire.com/NewsRoom/AttachmentNg/c2d21624-d7f7-4168-ab84-cb8ae540f6d8

https://www.globenewswire.com/NewsRoom/AttachmentNg/8a6eb4ba-576f-4515-bd2a-6a2251c55fe6


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