Adex Announces Filing of Fire Tower Zone NI 43-101 Compliant Technical Report
December 08 2008 - 3:56PM
Marketwired
Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE: ADE) is
pleased to announce the filing of a National Instrument 43-101 ("NI
43-101") compliant technical report (the "Technical Report") on the
Fire Tower Zone ("FTZ") with the Ontario, British Columbia and
Alberta securities commissions. The Technical Report, completed by
Watts, Griffis and McOuat Limited, consulting geologists and
engineers, is the final technical report in relation to the updated
NI 43-101 resource estimate for the FTZ announced by Adex in a
press release dated October 23, 2008 titled "Updated NI 43-101
Resource Estimate Reinforces Potential Of Adex Mining's Fire Tower
Zone At Mount Pleasant".
The FTZ, one of two mineralized zones found at the Company's
Mount Pleasant Mine Property ("Mount Pleasant" or the "Property")
located in southwestern New Brunswick, Canada, is the site of a
past-producing tungsten-molybdenum underground mining operation
during the 1980s.
The Technical Report also includes an Executive Summary of the
recently completed scoping study on the FTZ, the results of which
were announced in a press release dated October 30, 2008 titled
"Adex Announces Results For Fire Tower Zone Scoping Study" The FTZ
scoping study was completed by Aker Metals, a division of Aker
Solutions Canada Inc. The scoping study and the economic analyses
contained therein are preliminary in nature and contain "Inferred"
mineral resources that are considered too speculative geologically
to have economic considerations applied to them that would enable
them to be categorized as mineral reserves and there is no
certainty that the results of the scoping study will be realized
with more detailed work. Mineral resources that are not mineral
reserves do not have demonstrated economic viability.
The Technical Report, 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 and completed by Paul Dunbar, M.Sc.,
P.Geo. Senior Associate Geologist of Watts, Griffis and McOuat
Limited, Dorota A. El-Rassi, M.Sc., P.Eng., Geological Engineer of
SRK Consulting and John S. Rogers, P.Eng., of Aker Metals, a
division of Aker Solutions Canada Inc., is now available on
www.sedar.com.
Qualified Person
Trevor Boyd, P.Geo., the Company's Geological Consultant and a
qualified person as defined by National Instrument 43-101 ("NI
43-101"), supervised the preparation of the technical information
contained in this press release in compliance with NI 43-101.
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-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."
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.
Contacts: Adex Mining Inc. Kabir Ahmed President, Chief
Executive Officer and Director 1-866-508-2339 (ADEX) Email:
investorrelations@adexmining.com Website: www.adexmining.com
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