Platinex and Mattagami First Nation Sign Exploration Agreement for Shining Tree Gold Property



    TORONTO, Jan. 26 /CNW/ - Platinex Inc. (TSX-V: PTX), a Canadian
exploration company, announced today that it has entered into an Exploration
Agreement ("EA") with Mattagami First Nation for exploration activities being
carried out on the Company's Shining Tree Gold Property.

    EXPLORATION AGREEMENT

    The EA provides a framework for a working relationship between the two
parties. The Mattagami First Nation will have preferred access to employment
opportunities and contracts in connection with exploration on the Shining Tree
Gold Property. Platinex will have the benefit of traditional knowledge of the
Mattagami First Nation and both parties will work together to minimize and
mitigate environmental impacts from the exploration activities.
    James R. Trusler, President and CEO of Platinex Inc. said, "Platinex
counts the Mattagami First Nation as a respected part of the strategy we
implement at Shining Tree that serves the Company's long standing policy of
contributing to local employment and minimizing its environmental footprint
while advancing its exploration projects."
    Chief Walter Naveau of the Mattagami First Nation stated, "We are pleased
to work with Platinex and share knowledge, resources and our people to help
advance our common interests."

    About Platinex Inc.

    Platinex is a Canadian exploration company based near Toronto. Platinex
focuses on carefully selected Platinum Group Element targets in settings
analogous to the JM reef (Stillwater Complex, Montana) and the Merensky and
UG2 reefs (Bushveld Complex, RSA) and opportunistic acquisition and
exploration of other selected precious metal targets. Platinex is determined
to find platinum sources to be used in the campaign to eliminate the threat of
global warming. Shares of Platinex are listed for trading on the TSX Venture
Exchange under the symbol "PTX".

    
    To receive Company press releases, please email shirley@chfir.com and
                   mention "Platinex" on the subject line.
    

    FORWARD-LOOKING STATEMENTS:

    Except for statements of historical fact, all statements in this news
release - including, without limitation, statements regarding future plans and
objectives, are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate; actual results and future events could differ materially from those
anticipated in such statements.

    
    Neither the TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.
    

    %SEDAR: 00014019E




For further information:

For further information: Platinex Inc., James R. Trusler, President &
CEO, Tel: (905) 470-6400 ext. 8007, Email: jtrusler@platinex.com; CHF Investor
Relations, Cathy Hume, CEO, Tel: (416) 868-1079 ext. 231, Email:
cathy@chfir.com

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