PTX Metals Inc. Announces Effective Date of Share Consolidation

TORONTO, Sept. 06, 2024 - PTX Metals Inc. (CSE: PTX) (OTCQB: PANXF, Frankfurt: 9PF) ("PTX Metals" or the "Company") announces that it will consolidate its common shares (the "Common Shares") on the basis of four (4) pre consolidated Common Shares into one (1) post consolidated Common Share (the "Share Consolidation"), effective as of the open of business on September 11, 2024 (the "Effective Date").

As of the Effective Date, the Company will commence trading on the Canadian Securities Exchange (the "Exchange") on a consolidated basis and the new CUSIP and ISIN number will be 69380V205 and CA69380V2057, respectively.

The Share Consolidation will result in the number of issued and outstanding Common Shares being reduced from the current outstanding 370,213,062 Common Shares to approximately 92,553,265 Common Shares. No fractional Common Shares will be issued as a result of the Share Consolidation. If the fraction is less than one half of one Common Share, the Common Share will be rounded down to the closest whole number of Common Shares, and if the fraction is at least one half of one Common Share, the Common Share will be rounded up to one whole Common Share. The Company's outstanding convertible securities will also be adjusted in accordance with their terms to reflect the Share Consolidation.

The Company has made progress in advancing its mineral projects and expects that the Share Consolidation will provide greater flexibility as it continues to develop these projects. Additionally, the Company anticipates that the Share Consolidation will align shareholders for the potential distribution of Common Shares in its subsidiaries.

There will be no change in the Company's name or trading symbol. The Company expects that the Exchange will issue a bulletin in short order, confirming that the Company's Common Shares will commence trading on a post-consolidation basis as of the Effective Date.

Letters of Transmittal will be mailed to registered shareholders who hold share certificates, with instructions for the exchange of existing share certificates for new share certificates. Shareholders holding uncertificated shares (such as BEO, NCI and DRS positions) will not receive a Letter of Transmittal but will have their holdings adjusted electronically by the Company's transfer agent and need not take any further action to exchange their pre-Share Consolidation Common Shares for post-Share Consolidation Common Shares.

About PTX Metals Inc.

PTX Metals is a minerals exploration Company with two flagship projects situated in northern Ontario, renowned as a world-class mining jurisdiction for its abundance of mineral resources and investment opportunities. The corporate objective is to advance the exploration programs towards proving the potential of each asset, which includes the W2 Copper Nickel PGE Project and South Timmins Gold Projects.

The portfolio of assets offers investors exposure to some of the world's most valuable metals including gold as well as essential metals critical for the clean energy transition such as copper, nickel, uranium, and rare metals. The projects were acquired for their geologically favorable attributes, and proximity to established mining producers. PTX Metals' work programs are designed by a team of expert geologists with extensive career knowledge gained from their tenure working for global mining companies in northern Ontario.

PTX Metals is based in Toronto, Canada, with a primary listing on the Exchange under the symbol PTX. The Company is also listed in Frankfurt under the symbol 9PF and on the OTCQB in the United States as PANXF.

For additional information on PTX Metals, please visit the Company's website at https://ptxmetals.com/.

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Caution Regarding Forward-Looking Information:

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This press release contains "forward-looking information" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. In particular, this press release contains forward-looking information in relation to the timing of the Share Consolidation and the Company's business plans. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to, the ability of the Company to execute on its plans for the Company and its affiliated entities; and the ability to obtain required regulatory approvals.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; the actual results of the Company's future operations; competition; changes in legislation affecting the Company; the ability to obtain and maintain required permits and approvals, the timing and availability of external financing on acceptable terms; lack of qualified, skilled labour or loss of key individuals.

A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-looking information contained in this press release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, are subject to change after such date. However, the Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.