Platinex Update: Valuation of Herrick Deposit; Shining Tree and Acquisition of Mining Lease at Shining Tree

Platinex Inc. (TSX VENTURE:PTX), announced today that an internal valuation of
the Herrick deposit on Platinex's Shining Tree gold property has identified
potential gold content ranging from 111,000 oz to 172,000 oz Au within the
defined vein structures to a depth of 300m. The estimate is based on a minimum
of 1,628,000 tonnes grading 2.11 g/tonne Au to a maximum of 2,554,000 tonnes
grading 2.10 g/tonne Au. The estimate is derived from 3 narrow sub- parallel
quartz vein breccias and an enclosing mineralized shear zone within a 370m
strike length, to a 300m depth and within a 60m wide block. A cutoff grade of
0.5 g/tonne Au was used. 


The Central zone of the Herrick deposit outcrops for most of its length and is a
continuous readily definable body. The study is based on 62 drill holes and 60
channel sample sections which have been qualified in previous reports and
programs by independent qualified persons. Historic drilling and sampling
conducted prior to 1989 was excluded for the purposes of this study. 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.


James R. Trusler, President and CEO of Platinex further stated, "The study also
identified thicker zones of gold mineralization between bifurcating vein
structures in some holes and in outcrop which are not included in the
calculations. These structures plunge vertically providing a prospective target
for deeper exploration. 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."


In addition a program of deeper drilling to explore the thickened gold zones and
test potential parallel structures have a considered high potential for success.
The Herrick gold deposit is a structure related to the Michiwackenda fault which
becomes the Mattagami fault to the north. The West Timmins gold mine belonging
to Lake Shore Gold is related to the Mattagami fault and provides an example of
high grade potential at depth along this structure.


Lease Acquisition Shining Tree

A mining lease comprising some 16ha is surrounded by claims on the Shining Tree
property in Churchill Twp., Ontario. The Mining Lease has recently been acquired
for 200,000 common shares of Platinex Inc. subject to approval of the TSX
Venture Exchange. The shares are subject to a hold period until September 18th,
2012. Giving consideration to the share purchase arrangement 50,959,326 shares
of Platinex Inc. are issued and outstanding.


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".


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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.