Platinex Issues Common Shares
TORONTO, ONTARIO -- (Marketwire) -- 11/26/10 -- Platinex Inc. (TSX VENTURE: PTX), a Canadian exploration company, announced today that it has issued 100,000 common shares as an installment payment towards its Shining Tree Gold Property at a deemed value of $0.175 per share. The shares are subject to a hold period expiring on March 23, 2011.
About Platinex Inc.
Platinex is a Canadian mining exploration company. PTX's management team has been leaders in the exploration and development of Platinum Group Elements (PGEs) in North America for 24 years. Platinex also actively pursues the opportunistic acquisition of other precious metal targets. The Company's priority in exploration is reef-type targets which may host large scale ore bodies. Platinex's proprietary expertise in exploration for this type of ore body has led to the acquisition of 7 PGE property holdings over large layered intrusions. Platinex is also exploring the highly prospective Shining Tree gold property and recently expanded the known size of the Herrick gold deposit with a 49 drill holes returning good gold values.
PTX currently has 44,106,339 shares issued and outstanding.
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FORWARD-LOOKING STATEMENTS:
Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Platinex Inc.
James R. Trusler
President & CEO
(905) 470-6400 ext.8007
jtrusler@platinex.com