Platinex Releases More Gold Results on Shining Tree Sampling

TORONTO, ONTARIO--(Marketwire - Nov. 24, 2010) - Platinex Inc. (TSX VENTURE: PTX.V), announced further processing of old data on the Caswell prospect. This data has revealed several vein swarms exhibiting compelling gold concentrations over thick widths based on partial channel sample assaying of veins. A 415 m interval between vein 107 in the south and vein 118 in the North averages 7.19 g/t Au uncut. This interval includes a 40 m interval enclosing both veins 107 and 109 grading 72.6 g/t Au. The best value in the section is from vein 107. It grades 1,068.33 g/t Au/1.22 m uncut. The mineralization appears to be similar in the skewed distribution and broad extent to that recently announced to the west of Platinex's Shining Tree property by Trelawney Resources.

"It is important to put these results in perspective." says James R. Trusler, President and CEO of Platinex Inc. "We can say with certainty that the mineralized structures exist in abundance and that much of the past work illustrates both the highly skewed nature of the gold values and the widespread abundance of gold in those structures. However, the old values have not yet been qualified. I am very excited about the work Platinex will be doing on the Caswell prospect."

A map depicting the location of veins and drill holes is attached for reference and separate tables listing results of grab samples and channel samples are included herein.

The major structural feature at the Caswell site is the Saville/Evelyn vein/shear which trends west northwest parallel to the Tyrrell structural zone. Thirty nine documented shear hosted veins tend to be 0.41 to 0.62 m thick and are flanked on either side by a 0.77 m thick mineralized shear zone. Platinex has stripped an area 200m x 800m on the east side of Michiwakenda Lake. A comprehensive program of exploration will be carried out this winter including bulk sampling of trenches.

Further releases of data on sampling in vicinity of the two shafts and drill hole data will be forthcoming.

For the purpose of this release James R. Trusler, P.Eng is considered the qualified person.

About Platinex Inc.

Platinex is a Toronto based exploration company. Platinex focuses on carefully selected Platinum Group Element targets in settings analogous to the Merensky and UG2 reefs (Bushveld Complex, RSA) and the JM reef (Stillwater Complex, Montana) and opportunistic acquisition and exploration of other selected precious metal targets. Platinex is determined to find platinum sources to be used in the campaign to eliminate the threat of global warming. 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.

To view the map included with this press release, please visit the following link: http://media3.marketwire.com/docs/ptxMAP1124.pdf

HISTORIC CHANNEL SAMPLES                                                    
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                                    Avg grade                               
Vein No.    Grade (g/t) Width (m)       (g/t) Avg width (m) Length (m) Dates
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1                 9.943       0.9       67.78          1.14       10.7  1923
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1                23.147      1.22                                       1974
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1                91.199      1.22                                       1974
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1               132.343      1.22                                       1974
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2                45.943      0.61       58.54          0.98             1916
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2                71.657      0.61                                       1916
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2               133.029      0.25                                       1916
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E. of 2          50.743      2.43                                       1924
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3                21.943      1.47       21.94          1.47             1923
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Saville(4)       52.457      0.91       51.21          0.84             1916
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Saville(4)       49.714      0.76                                       1916
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7               101.143      1.52       97.94          0.80             1916
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7                28.457      0.07                                       1923
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19               21.257      0.31       17.49          0.31             1923
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19               13.714      0.31                                       1923
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103             302.743      0.25       19.67          1.57             1916
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103                31.2      2.13                                       1916
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103              10.629      1.83                                       1916
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103              23.657      2.64                                       1923
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103               9.257      1.02                                       1923
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107            1068.329      1.22     1068.33          1.22             1923
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109            1052.901      1.52     1052.90          1.52             1923
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113              43.543       0.5       43.54          0.50             1923
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115               4.114      0.76       21.07          1.30             1923
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115              28.114      1.83                                       1924
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116              25.029      2.13       25.03          2.13             1924
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117              30.171      1.83       36.37          1.10             1916
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117              18.514      1.22                                       1916
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117              91.543      0.61                                       1916
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117             109.371      0.61                                       1916
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117             121.029      0.61                                       1916
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117              16.114      0.38                                       1916
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117               8.914      0.76                                       1916
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117               5.486      0.61                                       1916
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117              42.514      1.83                                       1916
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117               9.943      2.13                                       1916
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117              33.599      1.52                                       1924
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118              23.314      0.61       23.31          0.61             1924
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HISTORIC GRAB SAMPLES                                                       
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Vein No.           Grade (g/t)                Source          Date
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1                        6.506      Practical Mining          2001
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1+2                    287.109     Chesbar Resources          1987
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1+2                     41.143     Chesbar Resources          1987
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1+2                      0.514      Practical Mining          2001
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3                        0.009      Practical Mining          2001
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Saville(4)               0.537      Practical Mining          2001
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Saville(4)               0.641      Practical Mining          2001
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Saville(4)               0.348      Practical Mining          2001
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Saville(4)               0.031      Practical Mining          2001
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101                      0.206      Practical Mining          2001
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101                      0.833      Practical Mining          2001
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103                      7.748     Chesbar Resources          1987
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107                      0.007      Practical Mining          2001
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109                     25.234     Chesbar Resources          1987
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109                     18.925     Chesbar Resources          1987
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109                      4.114     Chesbar Resources          1987
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109                     13.474      Practical Mining          2001
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109                      2.160      Practical Mining          2001
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109                     12.983      Practical Mining          2001
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109                      0.079      Practical Mining          2001
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111                      9.394     Chesbar Resources          1987
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111                      5.486     Chesbar Resources          1987
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111                      0.718      Practical Mining          2001
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111                      0.039      Practical Mining          2001
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113                      3.840     Chesbar Resources          1987
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114                      2.297      Practical Mining          2001
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115                      7.886     Chesbar Resources          1987
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115                      5.760      Practical Mining          2001
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122, 123                 0.024      Practical Mining          2001
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113-123                  8.331            M. Newbury          1974
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113-123                  8.126            M. Newbury          1974
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113-123                  5.691            M. Newbury          1974
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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.

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.

Contacts

James R. Trusler
Platinex Inc.
President & CEO
905-258-0517
jtrusler@platinex.com