Adex Mining Announces Board, Senior Management Changes

TORONTO, Oct. 11, 2017 /CNW/ - Adex Mining Inc. ("Adex" or the "Company") (TSX‐V: ADE) announces today that it has appointed Wong Kwok Keung to the board of directors of the Company (the "Board" or "Board of Directors") to fill a vacancy left by the resignation of Joseph Lau Ying Kit. Separately, the Company has appointed two new executive officers: Linda Lam Kwan as Chief Executive Officer and Olga Balanovskaya as Chief Financial Officer.

Mr. Wong joins the Board of the Company effective October 1, 2017 as a representative of Great Harvest Canadian Investment Company Limited ("Great Harvest"), the Company's largest shareholder. Mr. Wong holds a Master of Science in Finance Analysis and a Master of Corporate Governance and is a certified public accountant of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants. He is also associate member of Hong Kong Institute of Chartered Secretaries and The Institute of Chartered Secretaries and administrators. Prior to joining Adex, Mr. Wong has over 18 years of hands-on and diversified working experience in several Hong Kong Listed companies and well known organizations across jewellery trading, property leasing and development, garment and electronics manufacturing in the Greater China and Asia Pacific regions. Mr. Wong fills the vacancy left by Mr. Lau, who has resigned after serving on the Board since 2011 as a representative of Great Harvest.

Ms. Lam is an entrepreneur with over 15 years of experience in the mining and steel industry, as well as over 10 years of experience in the marine transportation industry. She graduated from Dongbei University of Finance and Economics with a degree in English for Finance in the Department of Foreign Language for Finance. She previously served as interim CEO of the Company from 2011 to 2012 and returns to that role in place of Yan Kim Po, who has served as interim CEO since 2012. Both Ms. Lam and Mr. Yan have served on the Board of Directors of the Company since 2011 and both will remain on the Board of Directors following the change in CEO position.

Ms. Balanovskaya has over 15 years of private and public company experience in the capacity of senior controller. She is a member of the Chartered Professional Accountants of Ontario, has a diploma in International Accounting Standards from the Institute of Financial Accountants, UK and a membership in the Institute of Professional Accountants and Auditors of Russia. She assumes the role from Doug Bolton, who had served as interim CFO of the Company since 2013.

The Board and senior management changes are effective October 1, 2017. The appointment of Mr. Wong to the Board remains subject to the acceptance of the TSX Venture Exchange.

The Company wishes to thank Mr. Lau, Mr. Yan and Mr. Bolton for their service in their outgoing positions.

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 80 kilometres south of Fredericton, the provincial capital, and 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.

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.

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, Ontario, New Brunswick and Nova Scotia 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.

SOURCE Adex Mining Inc.

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