Adex Mining Inc.
TSX VENTURE : ADE

Adex Mining Inc.

October 21, 2009 08:16 ET

Adex Mining Launches New Website and Provides Corporate Update

TORONTO, ONTARIO--(Marketwire - Oct. 21, 2009) - Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE:ADE) is pleased to announce the launch of its updated and completely redesigned website. The Company's management team and Board of Directors invite you to visit www.adexmining.com to see the new face of Adex and learn about recent accomplishments and current activities.

"The new Adex website was designed to present our corporate story in an easily understood and investor friendly format," said Errol Farr, President and CEO of Adex. "Adex has achieved many important milestones over the past year and we believe that our website is a key part of our overall communications strategy, where we will continue to inform shareholders regarding the advancement of our multi-mineral Mount Pleasant Mine property."

Adex is currently focused on its development plan for Mount Pleasant, with expectations of producing tin, indium and zinc from the North Zone (the "NZ") at its wholly-owned Mount Pleasant Mine Property in southwestern New Brunswick, Canada ("Mount Pleasant" or the "Property"). Once the NZ resource is in production, Adex will expand its focus to include feasibility leading to production from the tungsten-molybdenum Fire Tower Zone ("FTZ") at the Property.

A Preliminary Assessment Study on the NZ is on schedule for completion in autumn 2009. This is an important component of the Company's development plan because it will provide a third-party economic assessment of a small to medium-scale mining operation including a forecast of mine production rates, capital costs to develop and sustain the operation, operating costs and cash flows. A positive result from this scoping study is expected to lead to a definitive feasibility study and subsequent production decision. 

The NZ is the subject of a National Instrument 43-101 ("NI 43-101") compliant Mineral Resource estimate including an Indicated Mineral Resource of 10,882,000 tonnes of at 0.43% tin, 67.8 grams per tonne of indium, and 0.67% zinc, and an inferred Mineral Resource of 7,603,000 tonnes at 0.22% tin, 74.6 grams per tonne of indium, and 0.99% zinc. An NI 43-101-compliant Technical Report including these resource estimates entitled "A Technical Review of the Mount Pleasant Property, Including a Mineral Resource Estimate on the North Zone, Southwestern New Brunswick for Adex Mining Inc." dated May 6, 2009 is available on SEDAR at www.sedar.com

Concurrent with the Preliminary Assessment Study, Adex is undertaking additional work as part of its NZ development plan. Activities currently underway include the design of a wastewater treatment system, the collection of bulk samples for bench and pilot plant work, and re-sampling of historical core from the 600 Adit for indium analysis.

Adex has sufficient financial resources to complete its NZ development work, including the definitive feasibility study.

Over the past year, Adex has also completed a number of important development activities at the tungsten-molybdenum FTZ, including the completion of a resource estimate and scoping study. The FTZ is the subject of a NI 43-101 compliant Mineral Resource estimate including an Indicated Mineral Resource of 13,489,000 tonnes at 0.33% tungsten and 0.21% molybdenum, and an Inferred Mineral Resource of 841,700 tonnes at 0.26% tungsten and 0.20% molybdenum. Based on the pricing assumptions in the scoping study, the FTZ is projected to generate approximately C$1.1 billion in revenue over a 13-year mine life according to a scoping study prepared by Aker Metals. An NI 43-101 technical report (the "FTZ technical Report"), including these resource estimates and an Executive Summary of the scoping study, entitled "A Technical Review of the Mount Pleasant Property, Including an updated Mineral Resource Estimate on the Fire Tower Zone, Southwestern New Brunswick for ADEX Mining Inc." dated December 1, 2008 is available on SEDAR at www.sedar.com.

"The demand for tungsten, molybdenum, tin and indium has risen in recent years, fuelled by the development of new technologies and rapid growth in the developing world," adds Mr. Farr. "Adex's fundamental philosophy is to maximize shareholder value through appropriate and diligent extraction and processing of our mineral resources. Currently, Adex is developing the capacity to expand into value-added production of zinc, indium and tungsten products, thereby demanding higher value for our mineral resources while ensuring security in our market position."

Trevor Boyd, P.Geo., the Company's Geological Consultant, a qualified person as defined by NI 43-101, supervised the preparation of the technical information contained in this press release in compliance with NI 43-101.

Mineral resources that are not mineral reserves do not have demonstrated economic viability.

ABOUT ADEX:

Adex Mining Inc. is a Canadian junior mining company with an experienced management team. The Company is focused on developing its flagship Mount Pleasant Mine property, a multi-mineral project that is host to promising tungsten-molybdenum and tin-indium-zinc-copper mineralization. Located in Charlotte County, New Brunswick, the Mount Pleasant Mine property is situated approximately 80 kilometres south of Fredericton, the provincial capital, and is 65 kilometres from the United States border. The common shares of Adex trade on the TSX Venture Exchange under the stock symbol "ADE." Technical information regarding Adex's Mount Pleasant property is available on SEDAR at www.sedar.com.

No securities commission or regulatory authority has approved or disapproved the contents of this press release.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Adex, its subsidiary or the industry in which they operate to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of Adex with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading "Risk Factors", in reports filed by Adex with the Alberta, British Columbia and Ontario Securities Commissions which are available at www.sedar.com and to which readers of this press release are referred for additional information concerning Adex, its prospects and the risks and uncertainties relating to Adex and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of Adex to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Adex cannot assure investors that actual results will be consistent with these forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

The forward-looking information contained in this press release is current only as of the date of the press release. Adex does not undertake or assume any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.

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.

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