Progress on Shining Tree and Ivanhoe Gold Properties

Platinex Inc. (TSX VENTURE:PTX), announced today a summary report on the Shining
Tree gold property has been filed on SEDAR and the company website. The report
updates data collected since filing a qualifying report in 2008. 


In addition to the internal valuation of the Herrick deposit revealed in a press
release on May 15, 2012, a model for thickening and enrichment of the deposit
which plunges near vertically providing a prospective target for deeper
exploration is proposed. There is an undefined potential for a southwesterly
plunging thickened enriched section that could contain from a depth of 300m to
1500m some 14.6 million tonnes at a grade ranging from 2.0 to 5.0 g/t Au for a
gold content of 1.0 to 2.4 million ounces. The potential quantity and grade is
conceptual in nature. There has been insufficient exploration to define a
mineral resource and it is uncertain if further exploration will result in the
delineation of a mineral resource. More sampling of existing core and stripping
of identified thicker mineralized zones where these project to surface, is
warranted and could increase the identified potential within the exploration
envelope and ultimately lead to qualification of resources by an independent
qualified person.


Particular interest is focused on 446 samples recovered from basal till that
have been processed by Overburden Drilling Management. The results have revealed
one of the more exceptional gold dispersion trains in the Abitibi. Many of the
samples contain pristine gold grains indicating a nearby bedrock source. In
addition, 169 samples each returned more than ten gold grains (up to 144 gold
grains in one sample) that suggest several nearby previously unexplored gold
occurrences in the bedrock. Noticeably a line of the highest counts was obtained
along and to the north of a 9 km easterly trending shear believed to be the
Larder Lake Break or an associated splay fault and also correlating with broad
XDS ORTHO anomalies, a potassium decay anomaly, circular magnetic anomalies, and
partly circumscribing and correlating with an alkalic stock. The occurrence,
distribution and density of high gold counts in till is similar to such patterns
evident close to major gold deposits throughout the Timmins and Matachewan gold
camps. The anomalies encourage the conclusion that the sources are one or more
completely untested gold deposits.


A two phase exploration program is recommended with successive outlays of
$1,554,000 and $3,273,000 providing for 5,000m and 15,000m of drilling
respectively.


The Shining Tree property comprises 139 claim units and one mining lease for
2,240ha.


In December of 2010, and January of 2011 the Company staked 363 claim units
comprising approximately 5808 hectares near Chapleau in northern Ontario. The
properties (Ivanhoe One and Two) were staked to cover a favourable geological
trend that extends from Probe Mines, Borden Lake Discovery. A key aspect of the
acquisition is that it includes coverage of a drill hole in Sandy Twp by the
Keevil Mining Group in 1964 which obtained low grade copper mineralization in a
fragmental rock. No gold assays were reported. The mineralization and rock
description are comparable to descriptions of Probe's Borden Lake deposit.


Platinex conducted a reconnaissance till sampling program with 19 samples
processed by Overburden Drilling Management for gold grains. The best results
were three samples that had 6 gold grains two of which contained one pristine
grain. These are considered anomalous results in this particular area. Five of
those samples were processed for Kimberlite Indicator Minerals of which one
sample contained 1 grain of sperrylite (a platinum ore mineral), and one
contained 3 grains of pyrite.


The Ivanhoe I property also adjoins Red Pine Explorations, Ava-Claire property
on the north. Red Pine has also been carrying out an exploration program
including till sampling which recovered strong gold values in till south of the
Keevil Mining Group drill hole on the Platinex property (see Red Pine Press
Release March 29, 2012).


For the purpose of this release James R. Trusler P.Eng is the Qualified Person.

About Platinex Inc.

Platinex has recently revealed strong evidence of a major gold bearing zone on
its Shining Tree property as evidenced by an extraordinarily high gold content
of soil samples along a nine km long corridor. Platinex is expanding exploration
on the Herrick gold deposit with 66 holes drilled to date returning encouraging
gold values. Platinex's management team are leaders in the exploration and
development of Platinum Group Elements (PGE's) in North America. Shares of
Platinex are listed for trading on the TSX Venture Exchange under the symbol
"PTX".


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.
Platinex Inc. (TSXV:PTX)
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