Toronto, Ontario--(Newsfile Corp. - April 21, 2025) - PTX Metals Inc. (TSXV: PTX) (OTCQB: PANXF) (FSE: 9PX) ("PTX" or the "Company"), a mineral exploration company focused on high-quality Cu-Ni-PGE and gold projects in northern Ontario, is pleased to hear the announcement of Ontario's Premier Doug Ford on April 17, 2025 that took place at the Exchange Tower in Toronto about the new legislation for Ontario to unleash the economic potential for critical minerals and energy projects. As the Ontario's Premier declared a positive step forward for the mining industry, he emphasized strong support in designating the Ring of Fire as an important economic zone and the urgency for infrastructure development, and streamlining approval processes (Doug Ford Announces Bill to Speed up Resource Development - April 17, 2025 | Headline Politics | CPAC.ca). The bill would give the province the new authority to designate special economic zones for strategically important projects, like the Ring of Fire mining development.
Greg Ferron, CEO and President of PTX Metals states: "We are delighted to see such positive enhancements within the Province of Ontario related to resource development and the potential legislation designating the Ring of Fire as an important economic zone. Importantly, we are also pleased to hear that First Nations will be included as a partner in the development of the area. As for PTX, it will support the growth of our projects, the W2 Project which hosts substantial mineralized zones hosting critical metals including Copper, Nickel, Gold and PGEs and our Shining Tree/Heenan Mallard gold projects near Timmins."
The Company recently announced the details of its active exploration program at W2 Cu-Ni-PGE Project (W2 Project) along with plans for subsequent work programs. The W2 Project is a 22,000-hectare property located southwest of the Ring and Fire and 160 kilometres from the existing Pickle Lake all season road, and 30 to 35 km southwest of the proposed utility corridor and all season Webequie Supply Road.
Currently the Company is making progress with a program consisting of drilling, a HeliGT Magnetic Survey, and most importantly enhancement of a 3D geological model over the Central Target. The Magnetic Survey and the 3D geological model has provided PTX with a better understanding of controls of the mineralization in the Central Area which hosts the CA and AP zones, as well as simultaneously defining new areas of interest across the W2 Project.
In September 2024, the Company reported a substantial near-surface Exploration Target in the Central Target (see press release of September 4th, 2024).
As PTX is advancing into the exploration program, the Company expects to update its Exploration Target as knowledge on the W2 Property are being enhanced.
Qualified Person:
The technical information presented in this news release has been reviewed and approved by Joerg Kleinboeck, P. Geo., a non-independent qualified person to PTX Metals who is responsible for ensuring that the technical information provided in this news release is accurate and who acts as a "qualified person" (QP) as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About PTX Metals Inc.:
PTX is a mineral exploration company focused on high-quality strategic metals assets in northern Ontario, allowing exposure for shareholders to Copper, Gold, Nickel, and PGEs. The Province of Ontario is renowned as a top mining jurisdiction for its abundance of mineral resources and investment opportunities.
Our corporate objective is to advance its assets, and unveil the potential of its two Flagship Projects, the W2 Cu-Ni-PGE located in the strategic Ring of Fire, and the Shinning Tree Gold Project neighbor of multi-million ounces gold deposits in the Timmins Gold Camp.
PTX's portfolio of assets was strategically acquired for their geologically favorable attributes, and proximity to established mining companies. PTX's mineral exploration programs are designed by a team of expert geologists with extensive career knowledge gained from their tenure working for global mining companies in northern Ontario and around the world.
PTX is based in Toronto, Canada, with a primary listing on the TSX under the symbol PTX. The Company is also listed in Frankfurt under the symbol 9PF and on the OTCQB in the United States as PANXF.
For additional information on PTX, please visit the Company's website at https://ptxmetals.com/.
For further information, please contact:
Greg Ferron, President and Chief Executive Officer
Phone: +1 (416) 270-5042
Email: gferron@ptxmetals.com
Forward-Looking Information
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information, including statements regarding the ability of the Company to satisfy the regulatory, stock exchange and commercial closing conditions of Private Placement, and the potential development of mineral resources and mineral reserves which may or may not occur. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and general economic and political conditions. Forward looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary approvals, including governmental and regulatory approvals, will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by applicable laws. For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from current expectations, please refer to the Company's public filings available under the Company's profile at www.sedarplus.ca.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
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