Platinex Closes the Transactions to Expand Shining Tree Gold Property
TORONTO, ONTARIO--(Marketwired - Sep 14, 2016) - Platinex Inc. (TSX VENTURE:PTX) ("Platinex" or the "Company") has received the TSX Venture Exchange's approval to complete the two transactions described in the Company's press release dated August 17, 2016 to expand the Shining Tree Gold property and has issued an aggregate of 600,000 common shares of Platinex (the "issued securities").
The combined property created by the acquisitions comprises 216 claim units (3,456 ha (8,640 acres)) and provides close in coverage of potential down dip and strike extensions of the mineralization associated with the former producing Ronda Gold Mine.
The issued securities carry a four-month hold period under Canadian securities laws from the date of issuance.
About Platinex Inc.
Platinex's goal is to create shareholder value through exploration, opportunistic acquisition and discovery of commercial deposits with a focus on gold. Platinex has revealed strong evidence of a major gold bearing zone on its Shining Tree property as evidenced by a provincially significant, extraordinarily high gold content of soil samples (glacial till) along a nine km long corridor. Platinex has commissioned an independent valuation of the Herrick deposit. The Central Zone of the Herrick deposit has been systematically sampled over a 361 m length returning an average of 6.98 g/t Au/1.9 m true width. Sixty two holes to a depth of 300 meters have been drilled to initially assess the Herrick deposit. Shares of Platinex are listed for trading on the TSX-V under the symbol "PTX".
The information presented in this news release has been reviewed and approved by James R. Trusler, Geological Engineer, the Chief Executive Officer of the Company and the Qualified Person for exploration at the Shining Tree property, as defined by National Instrument 43-101 "Standards of Disclosure for Mineral Projects".
To receive Company press releases, please email jtrusler@platinex.com and mention "Platinex press release" on the subject line.
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.
Contact
Platinex Inc.
James R. Trusler
President and CEO
(416) 565-5616
jtrusler@platinex.com
www.platinex.com
