Platinex Inc.

Platinex Inc.

March 02, 2009 08:30 ET

Platinex Retains Blackstone Canada for Public Relations and Media Support

TORONTO, ONTARIO--(Marketwire - March 2, 2009) - Platinex Inc. (TSX VENTURE:PTX), a Canadian exploration company, announced today that it has retained the services of Blackstone Public Affairs Group, a public relations firm specializing in targeted, highly effective advocacy and media campaigns. Blackstone will be focusing on a number of areas - including restoring the company's brand and image to its rightful place, as well as dealing with the McGuinty Government to try to find a solution to the current impasse over the Big Trout Lake property.

"Platinex is pleased to welcome Blackstone's involvement," said James R. Trusler, President and CEO of Platinex Inc. "They have a proven track record of success, and are quite diligent at ensuring that only the facts are presented."

Blackstone Principal Stephen Skyvington agreed. "We are looking forward to working with Platinex and its team of professionals. In the days and weeks ahead, we believe that a successful outcome is not only possible but very likely."

In addition to holding face-to-face meetings with senior government officials, Blackstone also plans to launch a media campaign, featuring newspaper and radio ads.

Platinex will pay Blackstone a monthly fee in cash or by issuance of common shares. The deemed price of any shares issued in payment will be the closing price of Platinex's common shares when the fee becomes due, subject to a minimum of $0.05 per share and subject to a 20% discount if the closing price exceeds $0.505. Blackstone is also entitled to a contingency fee payable in cash, equal to any court costs, exploration costs or opportunity costs recovered by Platinex in connection with Big Trout Lake. The issuance of common shares to Blackstone is subject to approval by the TSX Venture Exchange and any shares issued will be subject to a four month hold period.

About Platinex Inc.

Platinex is a Canadian exploration company based near Toronto. Platinex focuses on carefully selected Platinum Group Element targets in settings analogous to the JM reef (Stillwater Complex, Montana) and the Merensky and UG2 reefs (Bushveld Complex, RSA) 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".

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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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