Platinex Inc. announced results from its exploration program on the Heenan Property, part of the Heenan Mallard Gold Project held through the South Timmins Mining Joint Venture ("South Timmins JV") with Fancamp Exploration Ltd. The Heenan Property is located in Heenan and Benton Townships in northeastern Ontario and lies within the Swayze area of the Abitibi Greenstone Belt. The Property is located on the fold nose of the Woman River magnetic high indicating a structural target favourable for gold which formed the basis for the exploration program. Heenan is immediately adjacent to Northern Superior Resources' "October Gold" Property (recently optioned by Evolution Mining Ltd.) and along the northwest border of IAMGOLD's soon-to-be-producing Cote Gold Project.

Results ranged from 0.5 g/t Au. Gold mineralization is associated with narrow concordant felsic to intermediate intrusive dykes within the iron-formation and metavolcanic sequence. Sample highlights are tabulated below (Tables 1 and 2) and shown in Figures 2 and 3. The Company is currently planning a late fall or early winter Phase 1 drill program to follow up on these results.

Project Geology: Heenan is located within the Woman River anticline and is centered on the Woman River iron formation, which combines overlying mafic volcanic rocks of the October Lake formation to the northwest and west from underlying, c-alkaline, felsic to intermediate volcanic rocks and sub-volcanic porphyries of the Strata Lake formation to the southeast. The Strata Lake formation occurs within the upper portions of the Marion Group which is thought to correlate with the Deloro assemblage of the southern Abitibi belt, based on U-Pb geochronology (van Breemen,et.al, 2006). Van Breemen, et.al., describe the upper portions of the Strata Lake formation as "dominated by variants chloritized and sulphidized volcanic rocks related to crackle breccia zones that are interpreted to represent paleo-hydrothermal conduits for iron-rich fluids that precipitated out of the overlying ironstones".

The South Timmins properties include the Shining Tree and Heenan Mallard gold projects, which lie along the Ridout-Tyrrell Deformation Zone (RTDZ) which also hosts IAMGOLD's Cote Gold project and Aris Mining's Juby deposit. The combined South Timmins land package totals over 285 km2 which is one of the largest land holdings in the region. Following a property review and exploration planning process, South Timmins JV commenced operations in May 2023.

Exploration work carried out to date has included geochemical soil sampling (B-horizon), prospecting, andized stripping at Shining Tree and Heenan mallard with drilling to commence upon the completion of initial exploration activities.