Platinex Inc.

Platinex Inc.

August 10, 2009 08:30 ET

Platinex's Ring of Fire Update

TORONTO, ONTARIO--(Marketwire - Aug. 10, 2009) - Platinex Inc. (TSX VENTURE:PTX), a Canadian exploration company, announced today that a Pending Proceedings Order has been recorded on all of Platinex's claims in the James Bay lowlands commonly referred to as the "Ring of Fire". The order is effective May 14, 2008 and will provide relief from the requirement to file assessment for approximately 23 months after a legal claim against Ontario respecting the Big Trout Property is resolved. In May 2008 Platinex had recorded 696 claim units (11,267 hectares) on the highly prospective Ring of Fire Intrusion and an additional 609 claim unit (9,760 hectares) on a related ultramafic intrusion.

"Platinex is very excited with its strategic involvement in the Ring of Fire and is very happy that all its claims in the area are now well protected." stated James R. Trusler, President and CEO of Platinex. "The order will enable Platinex to execute its exploration effectively and efficiently."

The application for the Pending Proceedings Order was filed due to the failure of the Ontario Government to resolve access issues on Platinex's Big Trout Lake property with the KI First Nation and the difficulty this has caused Platinex in carrying out its exploration on other properties.

To receive Company press releases, please email and mention "Platinex press release" on the subject line.


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.

Contact Information