Platinex Stakes Muskox Property, Northern Canada

TORONTO, March 3 – Platinex Inc. (TSXV: PTX) today announced it has staked 82,600 acres (33,441 ha) on the Muskox Intrusion, in Nunavut Territory, northern Canada.

The Muskox intrusion is among the world’s largest layered mafic intrusions and rivals the Bushveld complex of South Africa in size. Previous work on adjacent areas infers the existence of a PGE reef beneath the hidden portion of the Muskox intrusion as well as the possibility of a contact deposit at depth. James R. Trusler, Platinex President and CEO, explained, “Many of the world’s PGE experts agree that the Muskox intrusion is the most prospective large scale geological target for PGEs in North America.”

At Muskox, Platinex first intends to conduct ground exploration with follow up drilling commencing as early as late spring.”

James R. Trusler is the qualified person for the purpose of this release.

Visitors to the PDAC 2008 convention in Toronto may wish to stop by the Company’s hospitality suite at the Fairmont Royal York Hotel, Prince Edward Island room on the Mezzanine level, both today, Monday, March 3 and Tuesday, March 4, from 5 p.m. to 9 p.m.

About Platinex Inc.

Platinex is a Canadian exploration company based near Toronto. Platinex focuses on carefully selected Platinum Group Element targets in settings analogous to the JM reef (Stillwater Complex, Montana) and the Merensky and UG2 reefs (Bushveld Complex, RSA). Platinex is determined to find platinum sources to be used in the campaign to eliminate the threat of global warming. Shares of Platinex are listed for trading on the TSX Venture Exchange under the symbol PTX.

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FORWARD-LOOKING STATEMENTS:

Except for statements of historical fact, all statements in this news release – including, without limitation, statements regarding future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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For further information: Platinex Inc.: James R. Trusler, President & CEO, Tel: (905) 727-9046, Email: jim@platinex.com; CHF Investor Relations: Cathy Hume, CEO, Tel: (416) 868-1079 ext. 231, Email: cathy@chfir.com; CHF Investor Relations: Chris Haldane, Associate Account Manager, Tel: (416) 868-1079 ext. 237, Email: chris@chfir.com