PTX Metals hits strong initial metallurgical results at W2 copper-nickel-PGE project

Highlights: First known metallurgical testing on W2 mineralization completed at SGS Lakefield Copper recoveries ranged from 97% at 8.4% Cu grade to 92% at 28% Cu grade Palladium and gold upgraded by 21X and 16X respectively to the final copper concentrate Locked cycle testing planned as a next step in metallurgical testing. Toronto, Ontario--(Newsfile Corp. - June 15, 2026) - PTX Metals Inc.  (TSXV: PTX) (OTCQB: PANXF) (FSE: 9PX) (" PTX " or the " Company")  is pleased to announce positive initial metallurgy results at the Company's W2 copper-nickel-PGE project in Northern Ontario's Ring of Fire region, demonstrating strong copper recoveries and the potential to produce a high-grade copper concentrate. The results represent an important step in advancing PTX's understanding of W2 as it continues to advance the project through exploration, metallurgical testing and geological analysis.

Greg Ferron, President and CEO said, "These initial metallurgical results represent an important milestone in advancing our understanding of W2. The ability to achieve strong copper recoveries and produce a high-grade concentrate through initial testing provides encouraging validation of the project. This work will be used to define the exploration strategies for the W2 project while we continue to search for higher grade zones within the bulk tonnage, mineralized envelope in the 2026 exploration season.

We look forward to continuing testwork with the goal of further enhancing precious metal recoveries and completing the necessary confirmatory locked cycle test. Further as the company completes additional exploration drilling testing our new geological model and the potential discovery of new mineralization occurs additional metallurgical testing will be completed." The Company also announced today the completion of a paragenesis study designed to investigate and characterize the natu