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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: heinz44	10/24/2007 1:08:44 PM
	of 78424

I hope they get this settled.....because this WILL fly!!! Platinex to issue 500,000 warrants to Indians 2007-10-24 12:52 ET - News Release Mr. James Trusler reports PLATINEX TO ISSUE KI WARRANTS IN TRUST Platinex Inc. intends to issue 500,000 warrants in trust for the Kitchenuhmaykoosib Inninuwug First Nation (KI) subject to approval by the TSX Venture Exchange. In his decision of May 22, 2007, Mr. Justice Smith of the Ontario Superior Court of Justice made a declaratory order which imposed a memorandum of understanding on Platinex, KI and the government of Ontario. One of the terms of the memorandum of understanding was that Platinex would agree to issue up to 500,000 warrants to KI in connection with the 24-drill-hole program proposed for Platinex's Big Trout Lake property (phase I). The warrants are to have an expiry date two years after the date of issuance and an exercise price of 40 cents per common share. The memorandum of understanding also provides that Platinex will establish a fund to benefit the KI community and that Platinex will contribute 2 per cent of all moneys spent by Platinex in connection with phase 1 to that fund.

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