Platinex adds Ontario properties to its portfolio: Six new PGE prospects and one gold property

    TORONTO, April 22 /CNW/ - Platinex Inc. (TSXV: PTX) today announced two
new developments that add exploration properties to the Company's portfolio of
assets. They are the staking of new claims on six platinum-group-elements
(PGEs) prospects in northern Ontario; and a gold property option agreement
with Skead Holdings Ltd.


    Platinex also announced that six PGE prospects have recently been staked
and filed in Ontario, which comprise a total of 1,795 claim units for 29,069
ha (71,800 acres). The properties are described below.

    -   North McFauld's Lake - is located 22 km north of Noront Resources'
        Eagle One and Eagle Two nickel-copper-PGE discoveries. This property
        comprises 608 contiguous claim units covering 9,846 ha
        (24,320 acres). The property adjoins on the south and east a claim
        block held by MacDonald Mines and Temex Resources, and on the west a
        block held by Noront Resources. It was staked to cover a layered
        intrusion coupled with magnetic anomalies which was recently revealed
        in survey publications by the Ontario government.

        Layered intrusions in the McFauld's Lake area containing Ni-Cu-PGE
        mineralization and thick chromium layers suggest they could be
        related in many respects to Platinex's Big Trout Lake holdings 250 km
        to the west. Platinex Management believes that the Company will be
        able to apply its unique knowledge of the geology of the
        Big Trout Lake Igneous Complex to the McFauld's Lake area.

    -   South McFauld's Lake - is located 25 km southwest of
        Noront Resources' Eagle One and Eagle Two nickel-copper-PGE
        discoveries. This property comprises 692 claim units in three blocks
        covering 11,206 ha (27,680 acres). The property adjoins a block held
        by MacDonald Mines, Temex and Baltic Resources on the southeast, a
        claim block held by MacDonald Mines and Temex Resources to the east,
        and a block held by Noront Resources and MacDonald Mines on the west.
        Platinex staked it covering a layered intrusion that is coupled with
        magnetic anomalies and the possible strike extension to the southwest
        of the host environment for the Noront discoveries; all of which were
        have been recently revealed in survey publications by the Ontario

    -   Norton Lake - is located 413 km north of Thunder Bay and 50 km
        northeast of Fort Hope in Ontario. This property comprises 56 claim
        units for 907 ha (2,240 acres). The property covers a magnetic
        anomaly to the south and west of a 2.46 million-tonne resource of
        nickel, copper, cobalt, and palladium held by Cascadia International
        Resources and East West Resources. Lake sediment anomalies in the
        area suggest an environment promising for these metals on the
        Norton Lake prospect.

    -   Awkward Lake - is located 175 km north of Thunder Bay. This property
        comprises 88 contiguous units covering 1,425 ha (3,520 acres). The
        property adjoins the International Nickel Ventures property on the
        south and the Cascadia International Resources property on the
        southwest as with Norton Lake (above). It was staked to cover the
        northern portion of the Awkward Lake intrusion which is believed to
        be the same age and style as the producing Lac des Iles intrusion
        belonging to North American Palladium Ltd.  and contains known
        nickel-copper-PGE mineralization.

    -   Core Zone - is located 174 km north of Thunder Bay and to the south
        of the previously mentioned International Nickel Ventures property.
        Platinex's property covers 302 claim units comprising 4,891 ha
        (12,080 acres) and was staked to cover a layered intrusion believed
        genetically related to the chromium-bearing Puddy Lake ultramafic
        intrusion. Nickel-copper-PGE mineralization has been found within the
        area described.

    -   Tib Lake - is located 60 km northwest of Thunder Bay. This property
        comprises 49 claim units covering 793.5 ha (1960 acres). The property
        adjoins the Tib lake property of Houston Lake Resources to the south
        and was staked to cover the northern portion of the Tib Lake layered
        intrusion. The intrusion is known to be related to the producing
        Lac des Iles intrusion and is mineralized on the adjacent property
        with nickel-copper-PGEs. Testing of this property is warranted,
        especially when considered in light of North American Palladium's
        nearby operation that demands feedstock.

    Worthy of mentioning is that one criterion in particular that Platinex
has used in property selection has been for positive relations between First
Nation Bands and exploration companies in the adjoining areas to have been
cooperatively demonstrated as exploration there has progressed to date.

    Option Agreement with Skead Holdings Ltd.

    Platinex has entered into an option agreement with Skead Holdings Ltd.,
subject to board and regulatory approval, with respect to certain claims
situated in Churchill, MacMurchy and Asquith Townships, in Ontario (the
"Shiningtree property"). Platinex has the right to acquire a 100%-interest in
the 133 claim units (5,320 acres or 2,153 ha), subject to a 3% NSR, by issuing
350,000 shares of Platinex, by making cash payments (or share equivalent) of
$400,000.00 and by incurring property expenditures of $850,000.00 during the
ensuing four-year period to April 11, 2012.
    The Shiningtree property is underlain by a northwest trending, steeply
dipping, sequence of felsic to mafic metavolcanic rocks and lesser irregular
quartz feldspar porphyries of Early Precambrian age overlain in part by
Nipissing diabase sills of middle Proterozoic age on 5% of the property.
    The Shiningtree property is transected by NNW and NW trending fault
systems and shear zones. Multiple gold bearing
quartz-sericite-ankerite-tourmaline fissure veins, lenses and anastamosing
fissure veins are evident  on the property within the Early Precambrian rocks.
    The gold mineralization has been explored and developed on several
occasions (1920 to 1937; 1974 to the late 1980's; and again in 2001). The No 1
shaft is reported to be 500 feet deep with drifts at the 92, 240, and the
500-foot levels. Apparently it was never mined, but development muck is
present on surface. Several other small shafts are reported. Drilling has been
conducted by several parties in the past and records of this work are being
assembled by Platinex and Skead.
    The Shiningtree property has not been the subject of a NI 43-101
compliant report; however an independent report is presently being prepared.
    In the past, grades greater than 1.0 ounce/ton Au have been observed by
different authors in several veins. One such vein is stated to have returned
grades over 1.0 ounce per ton over thicknesses of over 2.0 metres with
continuity over tens of metres laterally and vertically. However, old reports
and maps which would corroborate and testify to this mineralization are sparse
and not compliant with NI 43-101 standards. The Shiningtree property is in
need of a comprehensive program of geological mapping, overburden sampling,
stripping, trenching and quite possibly ground geophysics with line-cutting.
    The Company has sufficient finances currently to cover initial
exploration on these properties this year, but drilling will require
additional financing. Platinex will be initiating exploration work on these
new prospects which may variously include airborne geophysical surveys, ground
geological, geophysical and geochemical surveys with linecutting. An
independent report and exploration budget will be prepared prior to launching
the exploration program.
    James R. Trusler, P.Eng., President and CEO of Platinex Inc. is the
qualified person as defined by National Instrument 43-101 with respect to the
content of this release.
    Further information will be posted shortly on the Company's website.

    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). 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.

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    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.


    %SEDAR: 00014019E

For further information:

For further information: Platinex Inc.: James R. Trusler, President &
CEO, Tel: (905) 727-9046, Email:; CHF Investor Relations:
Cathy Hume, CEO, Tel: (416) 868-1079 ext. 231, Email:; CHF
Investor Relations: Chris Haldane, Account Manager, Tel: (416) 868-1079 ext.
237, Email:

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