ADEX RECEIVES GOVERNMENT GRANT FOR METALLURGICAL
TEST PROGRAM
Toronto ? October 17,
2008 ? Adex Mining Inc. ("Adex"
or the "Company") (TSX VENTURE:ADE) is pleased to announce that
Business New Brunswick ("BNB"), an agency of the Province of New
Brunswick, has awarded the Company a $15,000 grant. The grant, provided under
BNB's Technology Adoption & Commercialization Program ("TACP"),
will be applied to a metallurgical test program designed to economically
extract tungsten and molybdenum from the Company's Fire Tower Zone deposit
located at the Mount Pleasant Mine Property in New Brunswick, Canada. This
metallurgical program has been contracted to RPC, an independent R&D firm
situated in Fredericton, NB.
"We are grateful to the Province of New Brunswick
for the TACP grant," said Kabir Ahmed, President
and CEO of Adex Mining. "The grant is a show of
confidence by the Province of New Brunswick
regarding the potential of the Mount Pleasant Mine Property and the Company's
ability to develop innovative technologies and economic opportunities within
the province."
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 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."
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.
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
press release.