Mr. Greg Ferron reports

PTX METALS RECEIVES NON-DILUTIVE GRANT FUNDING FROM THE ONTARIO JUNIOR EXPLORATION PROGRAM FOR ITS 100% OWNED W2 CU NI PGE AU PROJECT

PTX Metals Inc. has received approval from the Ontario Junior Exploration Program (OJEP) of $200,000 of funding for its 100-per-cent owned W2 Cu-Ni-PGE-Au (copper-nickel-platinum group element-gold) property in northwestern Ontario.

The non-dilutive funding allows the company to reclaim exploration activities at W2 carried out between April 1, 2024, and Feb. 28, 2025, and more specifically outlined in a work plan and budget previously agreed upon with a maximum grant amount of $200,000.

The W2 project was selected as part of OJEP an initiative of the government of Ontario that aims to attract investment in early exploration, expand the pipeline of mineral development projects, including critical minerals, and lead to more mines and jobs in Ontario.

"This investment is an important part of our government's plan to rebuild our economy as we support exploration of Ontario's vast mineral wealth," said George Pirie, Minister of Mines. "The Ontario Junior Exploration Program (OJEP) is helping unlock the province's mineral exploration potential and paving the way for the development of the mines of the future which will bring multigenerational opportunities to northern and first nation communities."

Greg Ferron, president and chief executive officer of PTX, said: "We are thrilled to have the continuing support of the government of Ontario, not only recognizing the importance of the W2 Cu-Ni-PGE-Au project for our province, but also financially supporting PTX efforts in developing our critical minerals exploration program and assets. Thank you, Minister of Mines George Pirie and team, for including PTX as beneficiaries of this latest round of OJEP funding."

In September, the company published and filed the W2 National Instrument 43-101 technical report summarizing a near-surface Cu-Ni-PGE exploration target for the 100-per-cent-owned W2 project in Ontario. The exploration target outlines a 3-D (three-dimensional) grade shell model based on historic and recent drill results indicating a near-surface exploration target between 59 million to 135 million tonnes (Mt) averaging between 0.78 per cent to 1.03 per cent copper equivalent (CuEq), containing approximately 610,000 tonnes to 1,052,000 tonnes CuEq (using CuEq grades above 0.7 per cent and 0.5 per cent, respectively). This is equivalent to 1.3 billion to 2.3 billion pounds CuEq.

Using CuEq grades above 0.9 per cent, the exploration targets estimation is 31 Mt at 1.25 per cent CuEq.

The exploration target model includes estimates in five mineralized zones including CA zone 1, CA zone 2, AP Main and two satellite zones, AP North and AP East. The five zones have a combined strike length of approximately seven kilometres (km) and are mostly near surface (less than 150 m deep), but open at depth. All drill hole data were compiled into the Geovia GEMS database which consists of 98 drill holes totalling 16,841 metres completed by Inco, Aurora Platinum (2002 to 2023) and PTX Metals (2024).

About PTX Metals Inc.

PTX is a mineral exploration company focused on high-quality critical minerals projects, including 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 Cu-Ni-PGE and gold project and South Timmins gold joint venture project.

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