Toronto, Ontario--(Newsfile Corp. - September 10, 2026) - Adex Mining Inc. (TSXV: ADE) ("Adex" or the "Company") is pleased to announce that, further to its news release dated July 29, 2026, Adex Minerals Corp. ("Adex Minerals"), the Company's wholly-owned subsidiary through which Adex holds its interest in the Mount Pleasant mining project in New Brunswick, has successfully obtained an interim stay of the cancellation of the mineral claim 1505 (the "Mineral Claim") by the Mining Recorder, Resource and Development Branch of the New Brunswick Department of Natural Resources and Energy (the "Mining Recorder"). The interim stay reinstates the Mineral Claim in the name of Adex Minerals (the mineral claim upon which the Mount Pleasant project is situated) pending a final determination of Adex Minerals' appeal of the cancellation. The interim stay hearing was conducted on Monday, August 31, 2026 before the New Brunswick Energy and Utilities Board (the "NBEUB"). The interim stay will permit Adex Minerals to take steps towards satisfaction of its required work expenditures in respect of the Mineral Claim.
Following the Company's success in obtaining the interim stay, its special committee of independent directors (the "Special Committee") continues to focus its efforts on the Company's ongoing strategic review process, including exploration of strategic alternatives and potential value-enhancing transactions for Adex, Adex Minerals or the Mount Pleasant Project. Together with its external advisors, the Special Committee remains fully engaged in pursuing potential transaction opportunities with interested parties in accordance with its ongoing mandate previously described by the Company.
An appeal of the Mining Recorder's cancellation of the Mineral Claim is scheduled to proceed before the NBEUB on December 3rd and 4th. As previously announced, Adex Minerals received correspondence dated July 13, 2026 from the Mining Recorder advising that the Mineral Claim had been cancelled by the Mining Recorder and placed in protected status due to failures by Adex Minerals to complete sufficient work program expenditures as required under s. 11(1) of the General Regulation - Mining Act, N.B. Reg. 86-98. Adex Minerals appealed this decision on July 29, 2026 (the "Appeal"). In light of the NBEUB's granting of the interim stay and agreement with the Company's arguments in support thereof, the Company remains confident in its position on and is optimistic of a favourable result in, the hearing of the Appeal. Adex Minerals continues to believe that the Mining Recorder failed to engage with Adex Minerals' good faith proposals to complete the necessary expenditures in a timely manner and acted unreasonably in imposing arbitrary deadlines after eschewing Adex Minerals' good faith efforts to comply.
The Company will provide further updates regarding the Special Committee's strategic review process and the Appeal in due course as further information becomes available.
ABOUT ADEX
Adex Mining Inc. is a Canadian junior mining company with an experienced management team. The Company has maintained stewardship over the Mount Pleasant Mine Property while evaluating strategic alternatives. The Mount Pleasant Mine Property is a multi-metal project that is host to promising tungsten-molybdenum and tin-indium-zinc mineralization. The common shares of Adex trade on the TSX Venture Exchange under the stock symbol "ADE".
FOR FURTHER INFORMATION, PLEASE CONTACT:
Linda Lam Kwan
Chief Executive Officer, Adex Mining Inc.
1-647-243-8452.
Email: investorrelations@adexmining.com Website: www.adexmining.com
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.sedarplus.ca 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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