Adex Mining Inc.
TSX VENTURE : ADE

Adex Mining Inc.

August 20, 2007 12:35 ET

Adex Mining Inc. Engages Primoris Group to Provide Investor Relations Services

TORONTO, ONTARIO--(Marketwire - Aug. 20, 2007) - Adex Mining ("Adex" or the "Company") (TSX VENTURE:ADE) is pleased to announce that it has engaged Primoris Group Inc. to provide third-party investor relations services to the Company. Primoris Group is a Toronto-based investor relations firm.

The Company's Head of Investor Relations, Rich Morrow, will be responsible for coordinating the investor relations services to be provided to the Company by Primoris Group. Under the leadership of principals Joseph Carusone and Nick Boutsalis, Primoris Group will provide the Company with a full range of investor relations services, including the creation of its web site and collateral materials, and coordinating media coverage through print, radio and TV.

Under the terms of the Company's agreement with Primoris Group, which commences August 20, 2007 for a one year period, Primoris Group will execute a comprehensive communications program to support the Company's growth strategy, for which it will be paid a fee of $6,000 per month. Primoris Group has also been granted options to purchase 140,000 common shares of the Company exercisable for a period of five years from the date of issuance, at an exercise price of $0.35 per common share (the "Options"). The Options will vest over an eighteen month period.

The Agreement between the Company and Primoris Group is renewable and can be terminated by either party on 30 days written notice. The agreement between the Company and Primoris Group and the grant of the Options are subject to regulatory approval. Primoris does not currently have any interest, directly or indirectly, in Adex or its securities, or any right or intent to acquire such an interest.

"Adex is committed to achieving a successful strategy for long-term growth and to delivering value for the Company and its shareholders," said Kabir Ahmed, the President and CEO of Adex. "Primoris Group has a strong track record in communicating company success stories to large and diverse audiences of investors. We look forward to raising our profile with individual investors and the larger financial community."

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 reports 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 and Director
    (416) 941-9663