Adex Mining Inc.

Adex Mining Inc.

November 27, 2007 08:55 ET

Adex Mining Signs Contract for Second Drill Rig at Mount Pleasant

TORONTO, ONTARIO--(Marketwire - Nov. 27, 2007) - Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE:ADE) is pleased to announce the signing of a second drilling contract (the "Agreement") with Lantech Drilling Services Inc. to advance development at its wholly owned Mount Pleasant Mine Property ("Mount Pleasant" or "the Property"). This second drill, which is expected to be delivered to the Property by May 1, 2008, is in addition to the first drill that Adex expects will be delivered to the Property by March 1, 2008.

"With the completion of a recent $3 million flow-through equity financing, Adex is well poised to accelerate the exploration and development of Mount Pleasant," said Kabir Ahmed, President and CEO of Adex. "Once the second drill is in place at Mount Pleasant, Adex will be able to more rapidly upgrade the quality of the resource estimates at all three of the Property's key mineralized zones - Fire Tower, North and Deep Tin. This should lead to an accelerated timeline for commencing the feasibility study on the Property."

With the signing of a second drilling contract, the drilling program is now scheduled to include a minimum of 10,000 metres of drilling at the Fire Tower, North and Deep Tin zones of Mount Pleasant, and will target highly promising tungsten-molybdenum and tin-indium-zinc mineralization. Exploratory drilling will also be conducted at the Property's Saddle Zone to expand existing mineral resources and delineate additional zones of mineralization. (A full description of the planned drilling program can be found in the Company's press release dated September 25, 2007.)

The Agreement was entered into by Lantech Drilling Services Inc. and Adex Mining Inc.'s wholly owned subsidiary, Adex Minerals Corp. Lantech is a Canadian corporation registered in the provinces of New Brunswick, Nova Scotia, Newfoundland, Ontario and Quebec, operating from its head office located in Dieppe, New Brunswick. Lantech has worked successfully for mining interests both domestically and internationally and brings a high level of experience to the Mount Pleasant project.


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-metal project that is host to promising tungsten-molybdenum and tin-indium-zinc mineralization. Located in Charlotte County, New Brunswick, Mount Pleasant 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".


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 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.

No securities commission or regulatory authority has approved or disapproved the contents of this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information