Platinex Inc.
TSX VENTURE : PTX

Platinex Inc.

April 28, 2011 09:00 ET

Platinex Posts Over Nine Cents Earnings Per Share

TORONTO, ONTARIO--(Marketwire - April 28, 2011) -Platinex Inc. (TSX VENTURE:PTX), announced that it has filed its annual Financial Statements and Management's Discussion and Analysis on SEDAR. Featured in the statements are milestones achieved in 2010 including:

  • Income per share of $0.093 (PE ratio 1:1)

  • A settlement from the government of Ontario totalling $5,000,000 plus a 2.5% Net Smelter Royalty on the former Big Trout Lake property.

  • The Shining Tree Gold property advanced to the discovery stage with the revelation of spectacular gold counts in soil along a nine kilometre length of a shear zone.

  • Sixty three holes drilled on the Herrick gold deposit to date on Shining Tree property have all intersected gold with a resource valuation to be conducted later this year.

  • Joint Venture agreement entered with Creso Exploration to explore a nine claim portion of adjoining property.

  • An extensive sampling program on the Caswell prospect at Shining Tree has confirmed the widespread and partially very high grade historic gold mineralization.

About Platinex Inc.

Platinex is a well financed Toronto based exploration company. 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. Platinex is also exploring the Herrick gold deposit with 63 holes drilled to date returning good gold values. Platinex's management team has been leaders in the exploration and development of Platinum Group Elements (PGE's) in North America for 24 years. 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.

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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