Platinex Inc.
TSX VENTURE : PTX

Platinex Inc.

February 17, 2011 10:47 ET

Till Samples Evidence Large Untested Gold Zone on Platinex's Shining Tree Property

TORONTO, ONTARIO--(Marketwire - Feb. 17, 2011) - Platinex Inc. (TSX VENTURE:PTX), announced today the results of till sampling on its Shining Tree property. Of 165 till samples analysed to date 77 contained ten or more gold grains 8 contained more than 50 gold grains and one contained 101gold grains. Partial analyses also conducted on the fine fraction of 88 till samples revealed systematic property-wide evidence of mineralization correlating with high gold counts.

Mr. James R. Trusler, President & CEO of Platinex, said, "These results are very encouraging. The data exhibit a linear trend of highest gold values and high arsenic values with a close spatial relationship to the observed intense ENE trending shearing and mylonitization for the entire nine kilometer length of the property. This anomaly infers the existence of an extensive gold zone that has never been tested by anyone including the old timers. It stands out over and above till values near known mineralized areas and deposits. Another anomalous gold trend which coincides with highly anomalous arsenic values correlates with the NNW trending Michiwakenda fault. This trend includes the Herrick deposit which we are exploring. In addition, along the Herrick trend to the NNW several grains of platinum arsenide were found within a till sourced nickel anomaly which correlates with a circular magnetic anomaly. Again this area is previously untested."

The map of the gold grains in till is attached to this release and is posted under the Shining Tree property on the website.

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 focuses on carefully selected Platinum Group Element targets and opportunistic acquisition and exploration of other selected precious metal targets. Platinex holds seven large PGE prospects and a unique royalty which runs with the land in a large area of northwestern Ontario. 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. 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.

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.

To view the map included with this release, please visit the following link: http://media3.marketwire.com/docs/ptx217map.pdf

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