PTX Metals Welcomes Ontario Support Through OJEP Funding, Highlights Growing Momentum in Province's Mining Sector

14:14 Uhr  |  Newsfile

Toronto, March 27, 2026 - PTX Metals Inc. (TSXV: PTX) (OTCQB: PANXF) (FSE: 9PX) ("PTX" or the "Company") welcomes its inclusion in the latest intake of the Ontario Junior Exploration Program (OJEP), which provides $215,000 in funding for the company to cover eligible costs for mineral exploration and development. PTX also pointed to a series of recent federal and provincial announcements as evidence of growing momentum to strengthen Canada's critical minerals sector including in the Ring of Fire.

"Ontario is leading the charge to secure the minerals that will power our economy and strengthen our sovereignty," said Stephen Lecce, Minister of Energy and Mines. "Through OJEP, we're backing companies like PTX Metals Inc. to advance promising projects here at home-unlocking resources, creating jobs, and building a more self-reliant and secure Canadian economy."

PTX also noted that recent government initiatives - including exploration funding, infrastructure commitments, critical minerals strategy updates, and supply chain investments - reflect a strong focus on building Canada's domestic mineral supply and supporting responsible project advancement.

"Exploration is a critical stage for mining companies, and continued support for this phase of development is essential for Canada and Ontario to remain globally competitive," said Greg Ferron, President and CEO of PTX Metals. "Programs like OJEP help ensure companies can continue conducting the work required to advance key projects responsibly. PTX looks forward to continuing to work with both the federal and provincial governments to support their shared goal of unlocking the province's full resource potential."

Building Momentum Across the Mining Sector

OJEP is one of many recent government measures aimed at strengthening the sector, alongside major investments in enabling infrastructure, critical minerals development, Indigenous partnerships, and supply chain resilience.

Recent announcements by both the provincial and federal governments include:

• Ontario's accelerated timelines for Ring of Fire road development and economic partnership funding for First Nations to support regional participation in the mining economy.
• Ontario's prioritization of the Greenstone transmission line project to support electrification and future mining development in the Ring of Fire region.
• Ontario's targeted investments through northern infrastructure and community access programs to improve year-round connectivity for remote northern communities including Summer Beaver (Nibinamik First Nation) and Neskantaga First Nation. This includes providing more than $10.7 million over the next two years to build and upgrade water-crossing infrastructure across the winter roads network in the North.
• Ontario's Community Partnership Agreements with Webequie and Marten First Nations and Shared Prosperity Agreement with Aroland First Nation, to unlock economic development in the region and speed up all-season road construction in the Ring of Fire, including providing Webequie with up to $39.5 million, Marten with up to $39.5 million, and Aroland with $20 million for important community infrastructure and supports.
• Ontario's $500 million Critical Minerals Processing Fund to strengthen domestic refining and processing capacity.
• Ontario's ongoing modernization of its Critical Minerals Strategy, including updates to strengthen domestic supply chains and economic self-reliance.
• The federal government's $1.5 billion First and Last Mile Fund to support critical minerals infrastructure, including transportation, energy systems, and Indigenous participation capacity
• The launch of the $2 billion federal Critical Minerals Sovereign Fund to accelerate project development through equity investments, loan guarantees, and offtake agreements.
• More than $3.6 billion in new federal critical minerals programs and investments announced at PDAC 2026 to support development, processing capacity, and supply chain resilience.
• Federal commitments under the Defence Industrial Strategy, including $5 billion to strengthen domestic industrial capacity linked to critical mineral supply chains.

Together, these initiatives signal growing alignment between governments and industry on the importance of responsibly advancing Canada's mineral resources.

Supporting Responsible Development in Northern Ontario

These policy developments align with the company's focus on advancing strategically important mineral projects through disciplined exploration and responsible engagement practices.

PTX's flagship W2 copper-nickel-PGE project is located near the Ring of Fire and represents a potential future contributor to Ontario's critical minerals supply chain.

"The direction governments are taking reflects a recognition that critical minerals are fundamental to economic security, defence supply chains, and future industrial development," Ferron said. "For companies like PTX, the focus remains on conducting key technical work, building strong relationships, and advancing projects in a way that earns long-term confidence from our partners, First Nations, and government."

About PTX Metals Inc

PTX is a proudly Canadian mineral exploration company focused on high-quality strategic metals assets in northern Ontario, allowing exposure for shareholders to copper, gold, nickel, and platinum group element (PGE) discoveries. The Province of Ontario is a renowned mining jurisdiction for its abundance of critical mineral resources and stable regulatory environment.

Our corporate objective is to advance our assets, and unlock the potential of two flagship projects, the W2 Cu-Ni-PGE located close to existing winter road infrastructure at the gateway to the strategic Ring of Fire region, and the Shining Tree Gold Project, neighboring other known deposits in the Timmins Gold Camp.

PTX's portfolio of assets was strategically acquired for their geologically favorable attributes, and proximity to established mining companies.

PTX is based in Toronto, Canada, with a primary listing on the TSX under the symbol PTX. The Company is also listed in Frankfurt under the symbol 9PX.F and on the OTCQB in the United States as PANXF.

For additional information on PTX, please visit the Company's website at https://ptxmetals.com/.

Forward-Looking Information

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information, including statements regarding the ability of the Company to satisfy the regulatory, stock exchange and commercial closing conditions of Private Placement, and the potential development of mineral resources and mineral reserves which may or may not occur. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and general economic and political conditions. Forward looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary approvals, including governmental and regulatory approvals, will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by applicable laws. For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from current expectations, please refer to the Company's public filings available under the Company's profile at www.sedarplus.ca.

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