Acquisition Of The Muskrat Dam Critical Minerals Project

TORONTO - Platinex Inc. has closed the previously announced option agreement to acquire the Muskrat Dam Critical Minerals Project. The Muskrat Dam Project is located in Northwestern Ontario. The Project comprises 671 unpatented mining claims over six (6) property blocks, which together cover approximately 12,925 hectares (129.25 km2) in the highly prospective Muskrat Dam Lake (MDGB) and Rottenfish (RGB) greenstone belts. The Project includes the Axe Lake Property, which shows the potential to host lithium-bearing pegmatites. A major high-strain zone, the northwest-trending “Axe Lake deformation zone” (ALDZ), as termed here, is interpreted to pass through the property. This major structural zone potentially provided pathways for granitic melts and evolving pegmatites, potentially lithium-and other rare metals-bearing, to be emplaced into volcano-sedimentary rocks on the property. Additional information regarding the Project, work program, and the technical advisors assisting the Company with the Project will be provided early in the new year.