PTX Metals Inc. provided an update on recent corporate and project activities related to W2 Cu Ni PGE Project located in the "Ring of Fire" region of Northwestern Ontario, and the South Timmins Joint Venture Gold Projects ("South Timmins JV"). Highlights include: Successful completion of the Phase 1 expansion drill program at W2 Project in NW Ontario. Assays pending on the 1,544-metre program.

Engagement of independent geological consulting firm BAW Mining Inc., to commence an Exploration Target that will include a 3D shell modelling and reporting of tonnage and grade estimates expressed as ranges. The modelling will include the 84 historical diamond drill holes that are in the central area and the Phase 1 drill program assays. Commencement of exploration activities at the South Timmins J-V Shining Tree Gold Project.

Completion of sale of Dorothy Gold Project to Heritage Mining. The Company has completed Phase 1 of the exploration and expansion drill program at the W2 Project with a total of 1,544 meters drilled over seven drill holes. Core samples have been sent to Activation Labs in Thunder Bay, Ontario and assays are pending.

Phase 1 drill program was designed with several objectives: 1) to test high-priority Cu-Ni-PGE targets and step-out drilling in the central area of W2 along the known 7.5 km long trend of Cu-Ni-PGE mineralization (the "Central Mineralized Envelope") in areas that have seen little to no drilling by previous operators; 2) to expand the zones of mineralization adjacent to Inco Ltd.'s historical resource area in the Southwest area ("CA Zone") and the Aurora Platinum drilling in the Northeast area ("AP Zone"); 3) as well, to test newly identified geological and geophysical anomalies that were generated through the recently completed geological interpretation and modelling of historical airborne geophysical data. W2 Exploration Target Model. The objective of the Exploration Target Model is to prepare a 3D shell modelling and reported tonnage and grade estimates express as ranges.

The modelling includes analyzing 84 historical diamond drill holes together with the results from the recently completed Phase 1 drill program, covering the three key areas of the project including the CA Zone, AP Zone and the Central Mineralized Envelope. The modelling work will follow the guidelines set forth in NI 43-101, section 14 and will be used to inform further prospecting strategies for exploration at W2. This exploration target model is conceptual in nature and more work and information, including drilling, are required before fulfilling CIM requirements towards the disclosure of a mineral resource.

The recent acquisition and consolidation of the historical resource area has supported the ability to produce a comprehensive study. Commencement of Exploration Programs for South Timmins Joint Venture projects: Work on the South Timmins Joint Venture projects has commenced with stripping near the former Ronda Mine at the Shining Tree Gold Project. Additional stripping and channel sampling on a wider surface area at Ronda has been designed to follow up on the anomalous high-grade sample results reported from work in 2023 including 9.04 G/T over 16.15M at surface.

This work program follows the successful results reported from the first three programs completed in 2023 and 2024, which confirmed high-grade gold mineralization through stripping and channel sampling at Shining Tree, and notably, included a new gold discovery at Heenan in the Swayze Greenstone belt. Following completion of the work at Shining Tree, the program will continue at Heenan and Mallard Gold Projects. Pursuant to an asset purchase agreement with a subsidiary of PTX Metals, dated May 31, 2024, the Company will receive CAD 100,000 in the common shares of Heritage Mining over an 18 month period ($15,000 on signing, $35,000 in six months from signing, $35,000 on six months from signing and a final $50,000 in 18 months from signing) and also includes granting of a 1.0% NSR (0.5% buyback for CAD 500,000) as consideration for the 1,888.72 land package.72 land package.

This divestment is pursuant to PTX Metals' mission to capitalize non-owned land package. This divestment are pursuant to PTX Metals's mission to capitalize non-owned property.