Further Delay at Big Trout Lake Property

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Copyright 2006 Market News Publishing Inc. All Rights Reserved

 

Platinex Inc. reports that its Big Trout Lake project is further delayed as Kitchenuhmaykoosib Inninuwug First Nation (KI) seeks consultation with Government. As of this morning Platinex's efforts to achieve direct contact with the Provincial Minister of Northern Development and Mines have not been answered. The Company is continuing with efforts to work with KI to find a mutually acceptable way forward while issues with Government are resolved.

 

Platinex is seeking reparation for damages and actions will be announced in due course.

 

With the inclusion of newly acquired leases, the known length of high potential platinum bearing chromium reefs has been extended to 12 km. A qualifying report is being prepared by RJ Burnside Engineering to assess the extent and grade of the chromium deposits.

 

About Platinex Inc.

 

Platinex is a Canadian exploration company based near Toronto. Platinex focuses on carefully selected Platinum Group Element targets in settings with potential for the discovery of multi-million-ounce deposits, analogous to the JM reef (Stillwater Complex, Montana) and the Merensky and UG2 reefs (Bushveld Complex, RSA), each of which contain resources of PGEs in the tens or hundreds of millions of ounces. The Company is currently exploring on its Big Trout Lake Property in Northern Ontario, approximately 580 km (350 miles) north of Thunder Bay. Shares of Platinex became listed for trading on the TSX Venture Exchange on November 4, 2005, under the symbol PTX. Platinex has 14,271,173 common shares issued and outstanding.

 

To receive Company press releases, please email alison@chfir.com

 

and mention "Platinex" on the subject line.

 

Forward Looking Statements:

 

The TSX Venture Exchange has not reviewed this release and it does not accept responsibility for its adequacy or accuracy. This news release contains forward-looking statements regarding the Company's expectations and beliefs with respect to future events and/or financial performance. These forward- looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual events or results to differ materially from those expressed or implied in such forward-looking statements. The reader is referred to the documents that the Company files and will file from time to time with applicable Canadian securities and regulatory authorities for a discussion on certain risk and uncertainties that could cause actual results to differ from those projected, anticipated or implied. The Company does not undertake to update forward-looking statements.

 

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE

 

ADEQUACY OR ACCURACY OF THIS RELEASE.

 

TSX Venture closing price for Platinex Inc Date: 2006/03/03 Closing Price: 0.250

 

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(c)2006 Market News Publishing Inc. All rights reserved.

 

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