Platinex Announces Director Retirement and Appointment of Frank Hoegel To Finance Advisory Committee

TORONTO, March 29, 2021 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE: PTX) (the "Company" or "Platinex”) announces the retirement of long-standing board director Lorne D. Burden effective March 31, 2021. Further we are pleased to announce the appointment of Frank Hoegel to the Company’s Finance Advisory Committee chaired by Greg Ferron.

James R. Trusler, chairman and chief executive officer of Platinex, stated: "Lorne and I have been industry colleagues and friends for over 35 years. I wish him well in his retirement and look forward to assistance and insight as the drilling program and exploration activities at Shining Tree advance. We welcome Frank’s knowledge and extensive experience and track record he brings to our advisory board. Frank’s work in the mining sector includes capital markets activities, fundraising, diverse board and M&A experience.”

Mr. Hoegel has served as CEO at Peter Beck Performance Fonds GbR, bringing with him over 22 years of experience in the financial sector. He is an Asset Manager actively involved in the financial evaluation of companies and convertible debenture structuring. Mr. Hoegel has international financing experience, the ability to analyze expansion and acquisition opportunities, and expertise with Canadian and Australian resource companies. He has a broad base of involvement in global investments, primarily focused on the structuring, initiation, and completion of international convertible debenture financings. His background includes more than 20 years of direct experience in the mining industry, expertise as an international financier / investor and a successful track record as a consultant and stockbroker in London, England. He serves on the Board of Directors of numerous public companies and is a Member of the Advisory Board of Concept Capital Management Ltd. He has a Master of Business Administration (FH) degree from a University in Germany, with a focus on Financial Management, Banking, and International Business & Management.

The company has also granted 600,000 options to an advisor and consultant. The options are priced at seven cents and expire five years from today's date.

For more information on drilling program and to view the new corporate presentation, please visit Platinex's website.

To receive Company press releases please subscribe at the Company’s website.

Lori ParadisAssistant SecretaryTel: (416) 268-2682Email: [email protected]

Greg FerronDirector, Corporate DevelopmentTel: (416) 270 – 5042Email: [email protected]

Web: platinex.com

About Platinex Inc. – Advancing a District Scale Project in an Abitibi Gold CampPlatinex is focusing its efforts on the exploration of its property in the Shining Tree District. Platinex has created the largest combined gold focused property package in the Shining Tree District, northern Ontario, which has received little modern exploration compared to other gold camps in the Abitibi Greenstone Belt.. Shares of Platinex are listed for trading on the Canadian Securities Exchange under the symbol "PTX".

FORWARD-LOOKING STATEMENTS:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances, except as required by applicable securities laws.

Investing into early-stage companies, inherently carries a high degree of risk and investment into securities of the Company shall be considered highly speculative.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

The Canadian Securities Exchange has not approved nor disapproved the contents of this press release.

Source: Platinex Inc.

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