Ontario has reached an agreement to settle litigation with Platinex Inc. that will provide greater certainty to the company and allow the province to continue to build its relationship with the Kitchenuhmaykoosib Inninuwug (KI) First Nations

The Province of Ontario and Platinex Inc. have entered into an agreement to resolve the company's litigation against Ontario and the Kitchenuhmaykoosib Inninuwug (KI) First Nation over the company's Big Trout Lake Property. As part of the settlement, Platinex will drop its lawsuits against the Crown and KI, and surrender all its mining claims and leases at Big Trout Lake. In return Platinex will receive $5 million and a potential future royalty interest. The government will withdraw those lands from staking and mineral exploration.

This settlement will assist Platinex in moving forward with the exploration and development of its other mining properties in Ontario, and responds to the community's past concerns.