Platinex Inc. update on exploration activities at Shining Tree Gold Project. Shining Tree, as well as the Heenan-Mallard Gold Projects, is held through the South Timmins Mining Joint Venture with Fancamp Exploration Limited. In addition, Green Canada Corp., a subsidiary of Platinex, confirms closing the transaction announced on October 31 to acquire a portfolio of exploration-stage uranium projects and completion of a $500,000 financing.

The Central Area covers the Herrick, Caswell Lake, and Ronda areas. A total of 891 B-horizon soil samples have been collected with results that range from below detection (<5 ppb) to 582 ppb Au, with 22 samples returning >25 ppb Au, including 7 returning > 100 ppb Au. An additional 167 infill B-horizon samples have been collected and results are expected shortly.

As well, a first phase of follow-up prospecting/ground-truthing of the high-priority anomalous soil samples has been completed. This included 30 grab samples that have been collected and preliminary results are expected shortly, to direct further work in the area. A total of 53 reconnaissance B-horizon soil samples were also collected over a prospective target generated from data compilation.

Reconnaissance rock sampling was completed on the Ribble Vein over a strike length of approximately 300 m with results ranging from 0.10 to 14.30 g/t Au. A total of 13 samples were taken from the host rock (massive to sheared mafic volcanic) and the Ribble Vein itself, with samples ranging from 0.01 to 1.40 g/t Au for the host rock, and 4.85 to 14.30 g/t Au for the Ribble Vein. Reconnaissance sampling was also completed on the Churchill prospect where 3 samples were collected.

Results ranged from 0.25 g/t to 283 g/t Au, with visible gold noted in the field. Exploration work at Area 3 has returned anomalous geochemical and grab samples and supports further work to refine targets ahead of a drill program. The geochemical sampling was designed to infill areas covered in a widely spaced program completed in the fall of 2022 that covered a previously announced Soil Gas Hydrocarbon anomaly which has been described by Activation Laboratories Ltd. as having a high probability for gold mineralization.

Due to the lack of outcrop over the target, infill geochemical sampling was completed which included collecting an additional 97 B-horizon soils samples over the target. Of the 97 samples, 8 returned >25 ppb Au and 3 samples returning >100 ppb Au. Due to limited outcrop exposure, only 3 grab samples were collected in Area 3 with no significant gold values being returned.

Sampling was also completed southwest of Area 3 which was designed to cover both northwest and northeast-orientated structures known to host significant gold mineralization. A total of 34 grab samples and 535 B-horizon soil samples were collected. Values for the grab samples ranged from <5 ppb to 32.9 g/t Au; 5 samples returning greater than 1.00 g/t Au including sample 864914 (32.90 g/t Au) collected from the historical Kingston vein.

From the 438 B-horizon soil samples, 26 returned >25 ppb Au with 4 samples returning >100 ppb Au. The highest soil sample assay was sample 501915 which returned 0.71 g/t Au and coincides with grab sample 864914. Also of interest is grab sample 864916 which returned 0.34 g/t Au from a west-to-northwest oriented 25 cm wide quartz vein, and along with soil sample 864916 which returned 0.46 g/t Au that suggests the extension of the Mayflower vein to the northwest and through claims held by Platinex, towards the Bilmac/Atlas Property.

In addition, field crews have completed the infill geochemical and prospecting program over Area 2. Area 2 target covers a projected 6 km strike length of the RTDZ that has seen limited historical work. Reconnaissance work by Platinex in 2021 and 2022 led to the discovery of several highly anomalous B-horizon soil samples (up to 380 ppb Au) and till samples (up to 43 pristine gold grains). Fieldwork in 2023 concentrated ?up-ice?

of these areas and covered a strike length of 3 km of the interpreted location RTDZ structure. A total of 67 grab samples and 807 B-horizon soil samples were collected. Grab samples were limited due to limited outcropping in the area of interest, with the highest grab sample returning 110 ppb Au.

Soil samples ranged from below detection (<5 ppb) to 86 ppb Au, with 6 samples returning>25 ppb Au. Additional soil sampling has been completed to the northwest of the grid area to follow up on a series of weakly anomalous samples with 102 samples recently being submitted for analysis. In addition, reconnaissance prospecting has been carried out in Area 1 along the Rideout Deformation Zone.

The South Timmins JV continues to meet key program objectives at both Shining Tree and Heenan-Mallard with a goal of commencing drilling upon completion of the initial exploration programs. Work is also focused at Heenan where mechanized stripping has been completed in three areas and geological mapping and channel sampling is underway in preparation of a drill program. The Company confirms closing the transaction announced on October 3, 2023, between Platinex and its subsidiary, Green Canada Corporation with International Prospect Ventures Inc. to acquire a portfolio of exploration-stage uranium projects located in top jurisdictions in Canada. Concurrently, Platinex has also assigned its option agreement on the Muskrat Dam Critical Minerals Project to GCC.

GCC closed a private placement raising $500,000 at $0.09 cents per common share. These funds will be used for mineral exploration and administrative expenses related to GCC. Platinex owns approximately 60% of the issued common shares of GCC following the private placements, completion of the uranium acquisition, assignment of Muskrat Dam Project, and a share for debt issuance.

Platinex will also be entitled to a 1.0% net smelter return royalty on Muskrat Dam upon completion of the earn-in conditions between GCC and Springer. The common shares issued under the above noted transactions are subject to a statutory four-month hold period. In addition, GCC shares will be subject to either an 18-month or 36-month escrow hold period.