Platinex Inc.
TSX VENTURE : PTX

Platinex Inc.

November 24, 2010 19:57 ET

Clarification of Platinex Results on Shining Tree Sampling

TORONTO, ONTARIO--(Marketwire - Nov. 24, 2010) - Platinex Inc. (TSX VENTURE:PTX), announced that due to considerable requests for more clarification, the Company hereby is providing further disclosure to explain the assay averages provided for the widths of 415m and 40m in the first paragraph of the November 24, 2010 news release. The quoted values were based on all of the results presented in the table herein:

Vein
No.
  Grade
(g/t)
  Width
(m)
  Avg
grade
(g/t)
  Avg
width
(m)
  Length
(m)
  Dates
107   1068.329   1.22   1068.33   1.22       1923
109   1052.901   1.52   1052.90   1.52       1923
113   43.543   0.5   43.54   0.50       1923
117   30.171   1.83   36.37   1.10       1916
117   18.514   1.22               1916
117   91.543   0.61               1916
117   109.371   0.61               1916
117   121.029   0.61               1916
117   16.114   0.38               1916
117   8.914   0.76               1916
117   5.486   0.61               1916
117   42.514   1.83               1916
117   9.943   2.13               1916
117   33.599   1.52               1924
118   23.314   0.61   23.31   0.61       1924

No other values were used in determining the averages. The bulk of intervening areas (some 410m) have not been assayed and a zero weight was given for that portion of the average. In the absence of any information supporting the possibility of bulk mining, averaging of narrow high grade assays across much greater widths can be complicating. As stated in the release the results are not yet qualified, but the Company has confirmed that the veins are present as originally mapped and carry significant concentrations of gold. A map depicting the location of veins and drill holes is on the Company website. Platinex is currently carrying out an extensive program of stripping, channel sampling and bulk sampling over this portion of the property and intends to continue with drilling this winter to provide a better understanding of the Caswell mineralization. Bulk sampling 160m to the southeast of the above sample interval reported in a September 22, 2010 press release provides evidence for significant quantities of very high grade gold and silver within the vein system.

The winter program will investigate both the selective high grade potential of this area and the bulk mining potential.

For the purpose of this release James R. Trusler, P.Eng is considered the qualified person.

About Platinex Inc.

Platinex is a Toronto based exploration company. Platinex focuses on carefully selected Platinum Group Element targets in settings analogous to the Merensky and UG2 reefs (Bushveld Complex, RSA) and the JM reef (Stillwater Complex, Montana) and opportunistic acquisition and exploration of other selected precious metal targets. Platinex is determined to find platinum sources to be used in the campaign to eliminate the threat of global warming. Shares of Platinex are listed for trading on the TSX Venture Exchange under the symbol "PTX".

To receive Company press releases, please email lparadis@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.

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