Platinex Inc. announced an agreement for a non-brokered private placement issue of 37,500,000 non-flow-through units at an issue price of CAD 0.04 per non-flow-through unit for gross proceeds up to CAD 1,500,000 and 22,222,223 flow-through units at an issue price of CAD 0.045 per flow-through unit for gross proceeds of CAD 1,000,000 for aggregate proceeds of up to CAD 2,500,000 on February 6, 2023. The transaction will include participation from new investor, Fancamp Exploration Ltd. will subscribe non-flow-through units, representing approximately 9.5% of the issued and outstanding shares of the company. Each non-flow-through unit shall be comprised of one common share of the company and one half of one common share purchase warrant, with each whole warrant exercisable into one common share of the company at a price of CAD 0.055 at any time on or before the date which is 60 months from the closing of the non-flow-through offering.

Each flow-through unit will be comprised of one common share of the company and one half of one common share purchase warrant. Each warrant shall be exercisable into one flow-through common share of the company at a price of CAD 0.055 per share at any time on or before the date which is 60 months after the closing date of the flow-through offering. The warrants will be subject to an acceleration clause requiring the exercise of the warrants if the company share price closes on the Canadian Securities Exchange at CAD 0.15 or greater for 20 consecutive trading days.

The company may pay finders fees on subscriptions. The flow-through offering and non- flow-through offering are subject to receipt of all necessary regulatory approvals including the Canadian Securities Exchange. The shares and warrants comprising the flow-through units, and the non-flow-through units will be subject to a hold period of four months and one day in accordance with applicable securities laws.