Platinex Inc.

Platinex Inc.

April 04, 2011 16:00 ET

Platinex Grants Stock Options

TORONTO, ONTARIO--(Marketwire - April 4, 2011) - Platinex Inc. (TSX VENTURE:PTX), announced that it has granted stock options to purchase 1,560,000 common shares at $0.12 per share. The options will expire on April 1, 2016.

Conditional on TSX-V approval, 1,500,000 options were granted to the following directors and officers of Platinex:
James Trusler Director & CEO 240,000
Bruce Reilly Director & CFO 185,000
Joanna Perrin Director & VP 125,000
Lori Paradis Officer 130,000
David Mason Director 190,000
Lorne Burden Director 250,000
Michael Blair Director 190,000
Bill Baird Director 190,000

Pursuant to the grant of these options, a total of 4,430,000 options are outstanding under Platinex' Stock Option Plan and at this time, 225,054 options remain available for issuance. Platinex has outstanding 46,850,539 shares and giving consideration to this option issuance 56,947,675 shares on a fully diluted basis.

About Platinex Inc.

Platinex is a well financed Toronto based exploration company. Platinex's management team has been leaders in the exploration and development of Platinum Group Elements (PGE's) in North America for 24 years. Platinex is also exploring the Shining Tree gold property and recently expanded the known size of the Herrick gold deposit with a 48 hole drill program returning good gold values. Platinex has recently revealed strong evidence of a major gold bearing zone on its Shining Tree property as evidenced by very high gold content of soil samples along a nine km long corridor. Shares of Platinex are listed for trading on the TSX Venture Exchange under the symbol "PTX".

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

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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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