Mr. Greg Ferron reports

PTX METALS RECEIVES ADDITIONAL EXPLORATION PERMIT FOR ITS 100% OWNED W2 CU-NI-PGE-AU PROJECT

PTX Metals Inc. has received an additional exploration permit for the CA zones located within the existing boundary of its W2 Cu-Ni-PGE-Au (copper-nickel-platinum-group-element-gold) property in Northwestern Ontario (the W2 project).

The company's wholly owned subsidiary, Endurance Elements Inc., received an exploration permit, from Ontario's Ministry of Mines covering approximately 2,650 hectares (26.5 square kilometres) in the central area of the W2 project that includes the CA zones. The CA zones were acquired by the company earlier in the year, completing the consolidation of the W2 project. The permit is dated Nov. 29, 2024, and will remain valid for three years for greater than 20 drill pad locations.

Greg Ferron, president and chief executive officer of PTX Metals, stated: "Over the past several years, PTX successfully consolidated the project, issued a substantial exploration target and strengthened its technical team with direct experience in the region. An important focus has been working with local indigenous communities and Ontario's Ministry of Mines (MINES), and we are committed to this as exploration activities continue and derisking a project we believe will bring significant economic benefits/opportunities to local communities."

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 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 exploration target outlines a 3-D 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 some 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 (million tonnes) at 1.25 per cent CuEq.

The five zones have a combined strike length of approximately seven kilometres 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).

Qualified person

The technical information presented in this news release has been reviewed and approved by Shuda Zhou, PGeo, who is a qualified person 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 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. PTX's 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.

PTX's portfolio of assets offers investors exposure to some of the world's most valuable metals, including gold, as well as essential critical minerals for the clean energy transition: copper, nickel, PGE, uranium and rare metals. PTX's portfolio of assets was strategically acquired for their geologically favourable 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 CSE 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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