PTX Metals Inc. provide an update on the Company?s inaugural drill program at the W2 Cu-Ni-PGE Project (?W2? or the ?Project?) in the ?Ring of Fire? region of Northwestern Ontario with the Phase 1 Drill Program proceeding well.

Further, modelling of the complete historical resource area is underway with a goal to produce a NI 43-101 compliant resource estimate following the completion of an additional Phase 2 drill program. This process has been enabled by the recent acquisition and consolidation of the historical resource area. Drill Program: Progress on the two-phased 2,500-metre drill campaign at W2 is proceeding well.

Operations are centered in Webequie, Ontario where the Company has established its exploration base. The program was designed to test high-priority Cu-Ni-PGE targets in the central area of the project to expand zones of mineralization adjacent to Inco Ltd.?s historical resource area, as well as to test several geophysical anomalies that were generated through the recent modelling of airborne geophysical data provided through the Ontario Geological Survey?s data set, GDS 1235. Drilling is primarily focused to the northeast of a compiled 7.5 km long trend of Cu-Ni-PGE mineralization and the aim is to expand the strike length of the mineralization in areas that have seen little to no drilling by previous operators.