CNW Group Portfolio E-Mail
Transmitted by CNW Group on : May 22, 2008 10:55
Platinex Commences Lawsuit Against Ontario Government
TORONTO, May 22 /CNW/ - Platinex Inc. (TSX Venture: PTX) today announced
that it had commenced a lawsuit against the Government of Ontario claiming
$50 million of general damages, $20 million of special damages, plus
and costs. The lawsuit arises out of its mining claims in the Big Trout Lake
area. Platinex has been unable to gain access to its mining claims because
actions by Kitchenuhmaykoosib Inninuwug ("KI").
Platinex claims that Ontario failed to discharge its obligation to
consult KI and that it breached its duty to warn Platinex that it would not
enforce the rule of law around the Platinex mining claims. Platinex has
suffered substantial wasted expenditures and economic harm as a result of
being able to access its mining claims.
James Trusler, President and CEO of Platinex, stated, "We felt we had no
choice but to file this lawsuit. Our exhaustive efforts in consultation with
KI over nine years have been rejected by KI despite landmark Supreme Court
rulings which have determined that a First Nation does not have a veto and
also despite recommendations of the recent Ipperwash inquiry. Our court
ordered access to the mining claims has not been enforced."
In addition to the pursuit of access to and exploration of the Big Trout
Lake property, Platinex intends to focus its future exploration efforts on
other areas. On April 22, 2008, Platinex announced that it had staked claims
in Ontario at North McFauld's Lake, South McFauld's Lake, Norton Lake,
Awkward Lake, Core Zone and Tib Lake. Platinex also announced that it had
acquired an option on claims in Churchill, MacMurchy and Asquith Townships,
Ontario. Additionally, on March 3, 2008, Platinex announced that it had
claims on the Muskox Intrusion, in Nunavut Territory.
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
Platinex also focuses on opportunistic acquisitions in non-PGE projects
show promise of near term improvement in value. Shares of Platinex are
for trading on the TSX Venture Exchange under the symbol PTX.