Platinex Inc. announced results from fieldwork at the Muskrat Dam Critical Minerals Project which covers key portions of the Muskrat Dam Lake greenstone belt in Northwest Ontario. Field observations and bulk rock chemical data from samples collected at the Axe Lake claim block in September 2023 have revealed anomalous levels of rare metals (Rb, Cs, Ta, Nb) and lithium. Although historical government mapping indicated favourable geology in the area, this exploration program was the first time to target rare metals and represents the confirmation of rare metal values in the Axe Lake Deformation Zone ("ALDZ") in the Muskrat Dam greenstone belt.

The Muskrat Dam Critical Minerals project is held by Green Canada Corporation (GCC), in which Platinex has majority equity ownership. The Muskrat Dam Project is located in Northwestern Ontario, approximately 125 km northeast of Frontier Lithium's PAK lithium project and 125 km northwest of Newmont's Musselwhite gold mine. Highlights of the discovery include: chemically evolved, tourmaline-muscovite granitic pegmatite dyke swarm exposed over a. minimum 0.5 by 2.2 km area on the Severn River.

beryl-type pegmatites with anomalous Rubidium (Rb) (845 ppm), Cesium (Cs) (42 ppm), Tantalum (Ta) (158 ppm), Niobium Nb (64 ppm), and Lithium (Li) (141 ppm). highest Tantalum 158 ppm or 225 times its mean upper continental crust value. 40% of Nb/Ta ratios are below 2.0, signifying extreme fractionation.

pegmatite distribution controlled by Axe Lake Deformation Zone (ALDZ), a major ductile transcurrent fault system with 30 km inferred strike length on property. similar deep crustal fault zones host rare metal pegmatite systems elsewhere, such as the Pakeagama Lake lithium pegmatite group in the Bearhead Lake deformation zone. similarity of tectonic setting and lithochemistry to the Red Sucker Lake lithium pegmatite group, 160 km northwest in Manitoba, ostensibly in the same regional fault system.

The field examination of the 6,175-hectare Axe Lake claim block occurred from September 4-10, 2023, and included collecting 62 grab samples in two confined areas of the large claim block. The work focused on an initial evaluation of lithium and related rare metals (Cs, Rb, Ga, Nb, and Ta). Also, it examined specific interelement magmatic indicator ratios as a function of granitic pegmatite rock type.

The ALDZ represents part of a significant regional fault zone system that extends at least 70 km northwest into the Sachigo-Ponask lakes area and into Manitoba, where lithium pegmatite mineralization (petalite) occurs at Red Sucker Lake. Deep crustal fault systems importantly represent S-type peraluminous pegmatitic granite generation sites via anatexis of clastic metasedimentary protoliths and as conduits for the emplacement of resulting fractionated granitic pegmatitic melts to higher crustal levels. Many rare metal pegmatite groups in the Superior Province of northwestern Ontario occur within major ductile deformation zones, most notably in the Bearhead Lake de formation zone, 160 km southwest of Axe Lake, where Frontier Lithium1 has established resources of 26 mt (M&I) of 1.62% Li2O and 32.4 mt (Inferred) 1.41% Li2O.

Complex-type pegmatite and 2.2 km area on its Severn River.