TORONTO, ONTARIO--(Marketwire - May 14, 2009) - Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE:ADE) is pleased to announce the filing of a National Instrument 43-101 ("NI 43-101") compliant Technical Report on the North Zone ("NZ") at its wholly-owned Mount Pleasant Mine Property in southwestern New Brunswick, Canada ("Mount Pleasant" or the "Property") with the Ontario, British Columbia and Alberta securities commissions. The Technical Report, completed by Watts, Griffis and McOuat Limited, Consulting Geologists and Engineers, is the final Technical Report in relation to the NI 43-101 Mineral Resource estimate for the NZ announced by Adex in a Press Release dated April 6, 2009 titled "Adex Announces NI 43-101 Compliant "Indicated" Mineral Resource Estimate of 10.88 Million Tonnes for the North Zone's Tin-Indium-Zinc Deposit At Mount Pleasant".
The NZ is one of two mineralized zones found at Mount Pleasant. The other zone, the Fire Tower Zone, is the site of a past-producing tungsten-molybdenum underground mining operation during the 1980s.
The Technical Report, entitled "A Technical Review of the Mount Pleasant Property, Including a Mineral Resource Estimate on the North Zone, Southwestern New Brunswick for Adex Mining Inc.", dated May 6, 2009 and completed by Paul Dunbar, P.Geo. Senior Associate Geologist of Watts, Griffis and McOuat Limited, and Robert de l'Etoile, Eng. Senior Geological Engineer of SGS-Geostat Limited, is now available on SEDAR at www.sedar.com.
Trevor Boyd, P.Geo., the Company's Geological Consultant and a qualified person as defined by National Instrument 43-101 ("NI 43-101"), supervised the preparation of the technical information contained in this Press Release in compliance with NI 43-101.
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-copper mineralization. Located in Charlotte County, New Brunswick, the Mount Pleasant Mine Property 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."
No securities commission or regulatory authority has approved or disapproved the contents of this press release.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Adex Mining Inc.
Errol Farr, Interim President and Chief Executive Officer,
Chief Financial Officer and Director