Greg Ferron, President

, and Chief Executive Officer of Platinex, said, "The Transaction achieves a number of goals for Platinex. It creates a stronger gold-focused growth vehicle in a world class Ontario gold camp and brings in a strong joint venture partner, Fancamp with access to capital and technical expertise, allowing us to accelerate exploration at Shining Tree Gold Project. The newly acquired Heenan Mallard Gold project which borders IAMGOLD’s Côté Gold Project, and the Shining Tree Gold Property are expected to be the first projects to be drilled. The

 Transaction provides a clear strategy for the enhanced gold portfolio while retaining a 100% ownership of our high-quality W2 Ni-Cu project and the recently acquired Muskrat Dam Critical Minerals Project."

Subject to any regulatory approvals or filings, the Transaction is expected to close on or about February 24, 2023 (the "Closing Date"), or on such other date and time as is mutually agreed to between Platinex and Fancamp.