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ADE Adex Mining Inc

0.005
0.00 (0.00%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Adex Mining Inc TSXV:ADE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.005 0.005 0.01 100 01:00:00

Adex Mining Launches New Website and Provides Corporate Update

21/10/2009 1:16pm

Marketwired Canada


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.


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