PTX Metals completes Phase 1 drilling at Shining Tree gold project

Toronto, Ontario--(Newsfile Corp. - September 16, 2026) - PTX Metals Inc. (TSXV: PTX) (OTCQB: PANXF) (FSE: 9PX) ("PTX" or the "Company") is pleased to provide an update on exploration activities at its Shining Tree Gold Project in the Timmins Gold Camp. The Shining Tree Gold Property is located in South Timmins along the Ridout-Tyrrell Deformation Zone (also known as "RTDZ") in Ontario, Canada covering 23,385 Hectares and Heenan Mallard project covering 5,700 Hectares.

The Company has completed Phase 1 of its 2026 exploration program at Shining Tree (see press release dated June 3, 2026). In total six drill holes were completed for 1,209 metres targeting the historic Ronda mineralization. Variable alteration and veining were observed in all holes; alteration and veining are not necessarily indicative of mineralization, and assay results are required to assess the significance of these observations. All core has been cut and sampled and submitted to Activation Laboratories Ltd. (Actlabs) in North Bay, Ontario, and results are pending.

A concurrent soil sampling, prospecting and mapping program was undertaken over the northwestern portion of the Shining Tree Gold Project, along a previously untested section of the Ridout-Tyrell Deformation Zone (RTDZ) consisting of 321 soil samples and 59 grab samples. Soil sampling and prospecting focused on areas with historically identified anomalous rock chip geochemistry, within a geophysical defined corridor. The ground truthing revealed several lithological domains and assay results from all samples are pending.

Shining Tree Claim Block

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Qualified person

The technical information in this news release has been reviewed and approved by Rhys Davis, P. Geo and Kyle Pedersen, P. Geo, both are independent consultant of the Company and qualified person, as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, who is responsible for ensuring that the related technical information provided in this news release is accurate.

About South Timmins Mining Corp

The South Timmins Mining Corporation has 100 per cent interest of the Shining Tree Gold Project and Heenan Mallard Gold projects with PTX owning 75 per cent of the equity and Fancamp Exploration Ltd. owning the remaining 25 per cent equity.

About PTX

PTX is a proudly Canadian mineral exploration company advancing gold and critical minerals projects in Northern Ontario, including its flagship W2 copper-nickel-PGE project near the gateway to the Ring of Fire and the Shining Tree Gold Project in the Timmins Gold Camp. PTX offers shareholders exposure to copper, gold, nickel and platinum group element (PGE) discoveries in one of the world's premier mining jurisdictions.

PTX's objective is to advance its portfolio through disciplined exploration, technical excellence and responsible engagement with local communities while creating long-term value for shareholders.

For further information, please contact:

Greg Ferron, President and Chief Executive Officer 1 (416) 270-5042 gferron@ptxmetals.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314547

TMX Newsfile

September 16, 2026 - 5:00 AM PDT

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