Adex Mining Inc.
TSX VENTURE : ADE

Adex Mining Inc.

August 21, 2007 16:10 ET

Adex Mining Inc. Announces Initial Development Plans for Its Mount Pleasant Mine Property

TORONTO, ONTARIO--(Marketwire - Aug. 21, 2007) - Adex Mining ("Adex" or the "Company") (TSX VENTURE:ADE) is pleased to announce its initial development plans for its Mount Pleasant Mine Property (the "Mine") located in southwestern New Brunswick.

The Company's initial development plans include a scoping study to assess production strategies at the Mine; development of metallurgical/bench-scale processes; evaluating plans for a wastewater treatment system at the Mine; upgrading the existing tailing dam structures at the Mine; and environmental management planning for the Mine.

Scoping Study and Metallurgical Process

A preliminary scoping study is underway to assess production options for tungsten and molybdenum at the Mine's Fire Tower Zone and tin and indium at the Mine's North Zone.

Adex is planning to enter into a contract for the initial bench scale testing of the Fire Tower mineralization-process flowsheet (as a precursor to pilot plant studies). Adex is also developing a metallurgical process for the production of tungsten and molybdenum for the Mine's Fire Tower Zone and the production of tin and indium for the Mine's North Zone. In addition to the production of metal concentrates using gravity separation, flotation and magnetic separation, the production of high grade ammonium paratungstate (APT) and indium metal by hydrometallurgical processing is an integral part of the mine development program. Thibault & Associates Inc. (a process engineering consulting firm, specializing in metallurgical and hydrometallurgical plant design) of Fredericton, New Brunswick, has been retained by Adex and will be responsible for process development strategies and process design.

Wastewater Treatment System

Adex is presently reviewing plans for dewatering of the Mine and has initiated the development of a mine-water treatment process with ADI Limited of Fredericton, New Brunswick. ADI Limited has completed the design of several wastewater treatment systems for the mining industry and has been contracted by Adex to identify a wastewater treatment technology for treatment of the wastewater during the Mine dewatering operations. The development of the mine-water treatment process will be designed so as to comply with provincial and federal environmental guidelines.

Tailings Dam Upgrade

Adex has also awarded a design contract to ADI Limited for the upgrading of the existing tailings dam structures to comply with environmental standards. Construction of the tailings dam upgrade will commence once the design phase has been completed.

Environmental Planning

Jacques Whitford Limited of Fredericton, New Brunswick has been contracted to assist Adex with environmental management planning associated with the development of the Mine. Work has been initiated to develop plans for environmental site assessments and requirements for regulatory approval.

"By embarking on its initial development plans, Adex Mining will be able to determine an economic and metallurgical model for potential mining development of the Company's Mount Pleasant Mine Property," said Kabir Ahmed, President and CEO of Adex.

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.

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 documents filed by Adex with the 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.

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