Adex Mining Announces Update on National Instrument 43-101 Reports

TORONTO, ONTARIO--(Marketwired - Oct. 24, 2013) - Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE:ADE) announced today that, as a result of a review by staff at the Ontario Securities Commission of the Company's technical reports prepared pursuant to National Instrument 43-101 ("NI 43-101") and previously filed by the Company on SEDAR (the "Previous Technical Reports"), the Company is issuing this news release regarding the Company's public disclosure in relation to the North Zone and the Fire Tower Zone on its Mount Pleasant property in New Brunswick.

The Previous Technical Reports are no longer current and should not be relied upon.

The Company has removed from its website references to information contained in the Previous Technical Reports.

The Company has filed on SEDAR an amended Management's Discussion and Analysis for the period ended June 30, 2013 that has deleted references to information contained in the Previous Technical Reports.

The Company also has filed on SEDAR an amended technical report prepared pursuant to NI 43-101 and dated October 11, 2013 in relation to the North Zone and the Fire Tower Zone (the "Amended Technical Report"). The Amended Technical Report replaces and supersedes the Previous Technical Reports.

In May 2013, the Company commenced the preparation in accordance with NI 43-101 of an updated technical report with respect to the resources on the North Zone and the Fire Tower Zone.

The Company also has commenced the preparation of a prefeasibility report on the economic evaluation of the resources on the North Zone and the Fire Tower Zone. It is anticipated that this prefeasibility report will be available in the first quarter of 2014.

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‐metal project that is host to promising tungsten‐molybdenum and tin‐indium‐zinc mineralization. Located in Charlotte County, New Brunswick, the Mount Pleasant Mine property is 80 kilometres south of Fredericton, the provincial capital, and 65 kilometres from the United States border. The common shares of Adex trade on the TSX Venture Exchange under the stock symbol "ADE".

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

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.

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.