Platinex Closes Additional Transaction to Expand Shining Tree Gold Property

TORONTO, ONTARIO--(Marketwired - Nov. 30, 2016) - Platinex Inc. (TSX VENTURE:PTX) ("Platinex" or the "Company") has received the TSX Venture Exchange's approval to complete the transaction described in the Company's press release dated November 3, 2016 to expand the Shining Tree gold property and has issued an aggregate of 398,000 common shares of Platinex (the "Issued Securities").

The recent Shining Tree gold property acquisitions have increased the project size to 286 claim units (4,576 ha or 11,440 acres). The Shining Tree gold property covers many historic workings, and gold showings within an underexplored area. All weather logging roads provide year round access.

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. Shares of Platinex are listed for trading on the TSX Venture Exchange 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-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.