Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE: ADE) is
pleased to announce the launch of its updated and completely
redesigned website. The Company's management team and Board of
Directors invite you to visit www.adexmining.com to see the new
face of Adex and learn about recent accomplishments and current
activities.
"The new Adex website was designed to present our corporate
story in an easily understood and investor friendly format," said
Errol Farr, President and CEO of Adex. "Adex has achieved many
important milestones over the past year and we believe that our
website is a key part of our overall communications strategy, where
we will continue to inform shareholders regarding the advancement
of our multi-mineral Mount Pleasant Mine property."
Adex is currently focused on its development plan for Mount
Pleasant, with expectations of producing tin, indium and zinc from
the North Zone (the "NZ") at its wholly-owned Mount Pleasant Mine
Property in southwestern New Brunswick, Canada ("Mount Pleasant" or
the "Property"). Once the NZ resource is in production, Adex will
expand its focus to include feasibility leading to production from
the tungsten-molybdenum Fire Tower Zone ("FTZ") at the
Property.
A Preliminary Assessment Study on the NZ is on schedule for
completion in autumn 2009. This is an important component of the
Company's development plan because it will provide a third-party
economic assessment of a small to medium-scale mining operation
including a forecast of mine production rates, capital costs to
develop and sustain the operation, operating costs and cash flows.
A positive result from this scoping study is expected to lead to a
definitive feasibility study and subsequent production
decision.
The NZ is the subject of a National Instrument 43-101 ("NI
43-101") compliant Mineral Resource estimate including an Indicated
Mineral Resource of 10,882,000 tonnes of at 0.43% tin, 67.8 grams
per tonne of indium, and 0.67% zinc, and an inferred Mineral
Resource of 7,603,000 tonnes at 0.22% tin, 74.6 grams per tonne of
indium, and 0.99% zinc. An NI 43-101-compliant Technical Report
including these resource estimates 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 is available on SEDAR at www.sedar.com.
Concurrent with the Preliminary Assessment Study, Adex is
undertaking additional work as part of its NZ development plan.
Activities currently underway include the design of a wastewater
treatment system, the collection of bulk samples for bench and
pilot plant work, and re-sampling of historical core from the 600
Adit for indium analysis.
Adex has sufficient financial resources to complete its NZ
development work, including the definitive feasibility study.
Over the past year, Adex has also completed a number of
important development activities at the tungsten-molybdenum FTZ,
including the completion of a resource estimate and scoping study.
The FTZ is the subject of a NI 43-101 compliant Mineral Resource
estimate including an Indicated Mineral Resource of 13,489,000
tonnes at 0.33% tungsten and 0.21% molybdenum, and an Inferred
Mineral Resource of 841,700 tonnes at 0.26% tungsten and 0.20%
molybdenum. Based on the pricing assumptions in the scoping study,
the FTZ is projected to generate approximately C$1.1 billion in
revenue over a 13-year mine life according to a scoping study
prepared by Aker Metals. An NI 43-101 technical report (the "FTZ
technical Report"), including these resource estimates and an
Executive Summary of the scoping study, entitled "A Technical
Review of the Mount Pleasant Property, Including an updated Mineral
Resource Estimate on the Fire Tower Zone, Southwestern New
Brunswick for ADEX Mining Inc." dated December 1, 2008 is available
on SEDAR at www.sedar.com.
"The demand for tungsten, molybdenum, tin and indium has risen
in recent years, fuelled by the development of new technologies and
rapid growth in the developing world," adds Mr. Farr. "Adex's
fundamental philosophy is to maximize shareholder value through
appropriate and diligent extraction and processing of our mineral
resources. Currently, Adex is developing the capacity to expand
into value-added production of zinc, indium and tungsten products,
thereby demanding higher value for our mineral resources while
ensuring security in our market position."
Trevor Boyd, P.Geo., the Company's Geological Consultant, a
qualified person as defined by NI 43-101, supervised the
preparation of the technical information contained in this press
release in compliance with NI 43-101.
Mineral resources that are not mineral reserves do not have
demonstrated economic viability.
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-mineral 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." Technical information regarding Adex's Mount
Pleasant property is available on SEDAR at www.sedar.com.
No securities commission or regulatory authority has approved or
disapproved the contents of this press 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.
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.
Contacts: Adex Mining Inc. J. Errol Farr, CMA President, Chief
Executive Officer and Director 1-866-508-2339 (ADEX)
investorrelations@adexmining.com www.adexmining.com
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