Platinex Inc. (the ?Company?) provided an update on exploration activities at the Mallard Gold (?Mallard?) and Heenan Gold (?Heenan?) projects located in northeastern Ontario which are, along with the Shining Tree Gold Project, held through the South Timmins Mining Joint Venture (?South Timmins JV?) with Fancamp Exploration Limited. Exploration activity at Mallard has identified surface gold mineralization approximately 500 m southeast of the Camp and River Zones indicating a potential expansion of these zones. Grab samples collected from the new area show up to 0.98 g/t Au and soil samples trend up to 1,210 ppb Au (1.21 g/t).

Fourth Quarter Exploration Activity: Currently, work is focused at Heenan where mechanized stripping has been completed in three areas. Geological mapping and channel sampling are underway in preparation to drill test a high-priority coincident geophysical (IP) and geochemical anomaly. Follow-up prospecting and infill geochemical sampling (B-horizon) is also planned for Mallard.

Mallard Gold Project Results: During the month of August, field crews completed reconnaissance prospecting and geochemical programs in the Woman River area (Camp and River Zones). The primary objective was to identify potential extensions of the Camp and River Zones, previously explored by Noranda Exploration Co. Ltd. These zones targeted gold mineralization hosted within two northwest-oriented shear zones that are interpreted as splays of the Ridout Deformation Zone which is located south of the Property.

Historical diamond drill intercepts at Camp and River (41O09NW0003) include: 5.04 g/t Au over 3.69 m (BE-85-1), 6.62 g/t Au over 1.83 m (BE-85-3), 1.85 g/t Au over 6.25 m (BE-85-4), 3.50 g/t Au over 2.77 m (BE-85-5), and 5.31 g/t Au over 3.84 m (BE-85-6). A total of 446 B-horizon soil samples were collected to cover the projected strike of the historical zones where limited historical work has been completed. Values of the samples ranged from below detection (<5 ppb) to 1,210 ppb Au (1.21 g/t).

Of the 446 soil samples, 9 samples returned >25 ppb Au, with 2 samples returning >500 ppb Au (0.5 g/t). The most significant area lies approximately 500 m southeast of the Camp Zone and is defined by a cluster of samples that range from 54 ppb to 1,210 ppb Au and may be related to the mineralization hosted within the same structure or parallel structures that hosts the Camp Zone. A total of 32 grab samples were also collected and submitted for analysis.

Values of the samples ranged from below detection (<5 ppb) to 1,520 ppb Au (1.52 g/t), with 6 samples returning > 100 ppb Au. The most significant results come from an area 500 m east-southeast from the Camp Zone where an infilled historical trench was discovered through prospecting. The material in the trench and surrounding area consisted of pyrite-bearing quartz-carbonate veinlets hosted within felsic to intermediate volcanic rocks with values ranging from below detection (<5 ppb) to 983 ppb Au.

Of the 8 samples collected from this area, 2 of the samples returned > 500 ppb Au. This area may represent a sub-parallel zone to the Camp Zone. Forestry operations are currently in progress near Mallard, and it is anticipated that new roads currently being constructed will provide substantially improved access to the project for an upcoming drill program.