Adex Mining Inc.
TSX VENTURE : ADE

Adex Mining Inc.

August 17, 2007 14:26 ET

Adex Announces Appointment of Rich Morrow as Head of Investor Relations

TORONTO, ONTARIO--(Marketwire - Aug. 17, 2007) - Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE:ADE) is pleased to announce the appointment of Rich Morrow as its Head of Investor Relations.

As Head of Investor Relations, Mr. Morrow will oversee the Company's investor relations program and coordinate with third party providers of investor and media relations services. In addition, Mr. Morrow will liaise with the analyst community, with a view to increasing the overall profile of the Company.

Under the terms of the Company's consulting agreement with Mr. Morrow, he will receive compensation of $4,167 per month. In addition to the above remuneration, Mr. Morrow has been granted 140,000 incentive stock options at a price of $0.35 per share for a five year term (the "Options"), all of which is subject to board and regulatory approval. The Options will vest in equal quarterly installments over a 12 month period from the date of grant.

Mr. Morrow has had a 23 year career in the investment industry. He has placed consistently among the top three industrial product analysts in research rankings. He is a former senior officer of Jennings Capital, CIBC World Markets and BBN James Capel and was Director of Corporate Development for North America for Tomkins plc, a FTSE 100 industrial products company. Mr. Morrow holds a B.A. and M.Div. from the University of Toronto and a M.B.A. from York University.

"We are very pleased to have Rich Morrow join our management team," said Kabir Ahmed, President, CEO and a director of the Company. "Given his experience in the investment and analyst community, we expect that Rich will be able to enhance the profile of the Company as senior management executes on its plan to evaluate and advance the development of its principal mineral asset in New Brunswick."

ABOUT ADEX:

Adex is a reporting issuer in Ontario and British Columbia whose primary asset is the Mount Pleasant Mine, a multi-metal mine development project located in Charlotte County, New Brunswick, approximately 80 kilometres south of Fredericton, 97 kilometres northwest of Saint John, 38 kilometres north of St. George and 65 kilometres from the United States Border.

This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

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 release.

Contact Information

  • Adex Mining Inc.
    Kabir Ahmed
    President, CEO & Director
    (416) 941-9663