Platinex Not to Close Financing

TORONTO, ONTARIO--(Marketwire - March 12, 2010) - Platinex Inc. (TSX VENTURE:PTX) -

Further to the press release dated January 25^th, 2010, Platinex will not be moving forward with the proposed $2 Million financing as the time period has lapsed.

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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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.