Adex Announces the Completion of a Private Placement of Units Consisting of One Flow-Through Common Share and One Half of One Co

Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE:ADE) is pleased to
announce that it has raised $1,009,040 through a private placement completed
today of 8,408,665 units (the "Units") at a price of $0.12 per Unit (the
"Offering"). Each Unit is comprised of one flow-through common share of Adex (a
"Flow-Through Share") within the meaning of the Income Tax Act (Canada) and
one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant
entitles the holder thereof to acquire one common share of Adex at a price of
$0.175 at any time prior to 5:00 p.m. (Toronto time) on the first anniversary of
the date of the closing of the Offering and at a price of $0.20 at any time
following 5:00 p.m. (Toronto time) on the first anniversary of the date of the
closing of the Offering and prior to 5:00 p.m. (Toronto time) on the second
anniversary of the date of the closing of the Offering at which time any
unexercised Warrants will expire. 


On the closing of the Offering, First Canadian Securities, a division of Limited
Market Dealer Inc., ("First Canadian") was paid a cash finder's fee of $19,000
representing 2% of the gross proceeds of the Offering raised through the
subscriptions by members of the MineralFields Group of Companies for an
aggregate of $950,000 of Units. In addition, First Canadian was issued
irrevocable and non-transferable finder's fee options (the "First Canadian
Finder's Fee Options") to purchase 554,166 finder's fee units (the "Finder's Fee
Units") (equal to 7% of the 7,916,665 Units sold pursuant to the Offering to
members of the MineralFields Group of Companies) at a price of $0.12 per
Finder's Fee Unit at any time prior to 5:00 p.m. (Toronto time) on the second
anniversary of the date of the closing of the Offering. Each Finder's Fee Unit
will consist of one common share and one-half of one Warrant. Kingsdale Capital
Markets Inc. ("Kingsdale") was paid a cash finder's fee of $600 representing 2%
of the gross proceeds of the Offering raised through subscriptions arranged for
by Kingsdale. Kingsdale was also issued irrevocable and non-transferable
finder's fee options (the "Kingsdale Finder's Fee Options") to purchase 262,499
finder's fee units (the "Finder's Fee Units") (equal to 3% of the 7,916,665
Units sold pursuant to the Offering to members of the MineralFields Group of
Companies and 10% of the 250,000 Units sold to subscribers arranged for by
Kingsdale). The Kingsdale Finder's Fee Options have terms identical to those of
the First Canadian Finder's Fee Options


Adex will use the gross proceeds from the Offering to incur exploration
expenditures which are eligible as Canadian Exploration Expenses under the
Income Tax Act (Canada). The exploration expenditures will be made to advance
development of the Company's wholly-owned Mount Pleasant Mine Property located
in New Brunswick, Canada.


"We are very pleased to be commencing a relationship with MineralFields Group",
said Errol Farr, the President and Chief Executive Officer of Adex. "This is an
important milestone in the growth of Adex and we look forward to working with
MineralFields Group as we advance the development of our wholly-owned Mount
Pleasant Mine Property located in New Brunswick, Canada."


All securities issued pursuant to the Offering (and any underlying securities)
will be subject to applicable statutory and regulatory hold periods expiring on
May 1, 2010.


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 and business
information regarding Adex's Mount Pleasant property is available on SEDAR at
www.sedar.com and the Company's website at www.adexmining.com.


ABOUT MINERALFIELDS, PATHWAY AND FIRST CANADIAN SECURITIES 

MineralFields Group (a division of Pathway Asset Management), based in Toronto
and Vancouver, is a mining fund with significant assets under administration
that offers its tax-advantaged super flow-through limited partnerships to
investors throughout Canada as well as hard-dollar resource limited partnerships
to investors throughout the world. Pathway Asset Management also specializes in
the manufacturing and distribution of structured products and mutual funds
(including the Pathway Multi Series Funds Inc. corporate-class mutual fund
series). Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities is active in leading resource
financings (both flow-through and hard dollar PIPE financings) on competitive,
effective and service-friendly terms, and offers investment banking, mergers and
acquisitions, and mining industry consulting services to resource companies.
MineralFields and Pathway have financed several hundred mining and oil and gas
exploration companies to date through First Canadian Securities.


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.