Mr. Greg Ferron reports

PTX METALS INC. ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION

PTX Metals Inc. will consolidate its common shares on the basis of four preconsolidated common shares into one postconsolidated common share, effective as of the open of business on Sept. 11, 2024.

As of the effective date, the company will commence trading on the Canadian Securities Exchange on a consolidated basis and the new Cusip number and ISIN (international securities identification number) will be 69380V205 and CA69380V2057, respectively.

The share consolidation will result in the number of issued and outstanding common shares being reduced from the current outstanding 370,213,062 common shares to approximately 92,553,265 common shares. No fractional common shares will be issued as a result of the share consolidation. If the fraction is less than one-half of one common share, the common share will be rounded down to the closest whole number of common shares, and, if the fraction is at least one-half of one common share, the common share will be rounded up to one whole common share. The company's outstanding convertible securities will also be adjusted in accordance with their terms to reflect the share consolidation.

The company has made progress in advancing its mineral projects and expects that the share consolidation will provide greater flexibility as it continues to develop these projects. Additionally, the company anticipates that the share consolidation will align shareholders for the potential distribution of common shares in its subsidiaries.

There will be no change in the company's name or trading symbol. The company expects that the exchange will issue a bulletin in short order, confirming that the company's common shares will commence trading on a postconsolidation basis as of the effective date.

Letters of transmittal will be mailed to registered shareholders who hold share certificates, with instructions for the exchange of existing share certificates for new share certificates. Shareholders holding uncertificated shares (such as BEO, NCI and DRS positions) will not receive a letter of transmittal but will have their holdings adjusted electronically by the company's transfer agent and need not take any further action to exchange their preconsolidation common shares for postconsolidation common shares.

About PTX Metals Inc.

PTX Metals is a minerals exploration company with two flagship projects situated in Northern Ontario, renowned as a world-class mining jurisdiction for its abundance of mineral resources and investment opportunities. The corporate objective is to advance the exploration programs toward proving the potential of each asset, which includes the W2 copper/nickel/platinum group metal project and the South Timmins gold project.

The portfolio of assets offers investors exposure to some of the world's most valuable metals, including gold, as well as essential metals critical for the clean energy transition such as copper, nickel, uranium and rare metals. The projects were acquired for their geologically favourable attributes and proximity to established mining producers. PTX Metals' work 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. PTX Metals is based in Toronto, Canada, with a primary listing on the exchange 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.

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