Adex Announces Bench Scale Testwork to Produce Molybdenum Oxide

TORONTO, ONTARIO -- (Marketwire) -- 05/11/10 -- Adex Mining Inc. ('Adex' or the 'Company') (TSX VENTURE: ADE) is pleased to announce that SGS Lakefield Research Limited ('SGS') of Lakefield, Ontario has been engaged to test the hydrometallurgical treatment of molybdenum concentrate from the Fire Tower Zone ('FTZ') at Adex' wholly-owned Mount Pleasant Mine Property ('Mount Pleasant' or the 'Property') located in southwestern New Brunswick, Canada.

Adex has engaged SGS to perform a scoping level investigation of a hydrometallurgical flowsheet that is designed to allow Adex to produce high grade ammonium molybdate at its Mount Pleasant operations. The process involves pressure oxidation of the molybdenite to convert the sulphide concentrate to an oxide, followed by an atmospheric ammonia leach of the molybdenum trioxide product. Ammonium dimolybdate crystals are then recovered from the ammonia leach liquor by evaporation and crystallization.

Results from test work, expected in about six weeks, will, if positive, lead to an upgrade to the conceptual framework related to the production of tungsten and molybdenum products as described in the 2008 FTZ Scoping Study completed by Aker Metals, a division of Aker Solutions Canada Inc., which indicated a pre-tax internal rate of return ('IRR') of 27% for the production of ammonium paratungstate ('APT') and molybdenum sulphide concentrate, based on projected product prices for APT of $US215 per metric tonne unit and for molybdic oxide (MoO3) of US$23.17 per pound. An executive summary of the 2008 Scoping Study is contained in the National Instrument 43-101 ('NI 43-101') compliant technical report (the 'Technical Report') on the Fire Tower Zone ('FTZ') 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., which is available on www.sedar.com.

Errol Farr, the President and CEO of Adex, stated, 'This investigation, while preliminary in nature, is another step toward evaluating the re-commencement of mining the FTZ. With metal prices, especially for molybdenum, showing recovery in 2010, the FTZ is demanding new attention by Adex management.' It is the goal of Adex to produce value added products with each of the mineral concentrates which may ultimately be processed at Mount Pleasant.

The 2008 FTZ 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 the 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 2008 FTZ Scoping Study will be realized with more detailed work. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Adex is currently engaged in bench and pilot metallurgical test programs for the production of tin concentrate and value added zinc and indium metal products from its Mount Pleasant North Zone ('NZ') resource, as discussed in a press release dated March 3, 2010. Adex intends to make a production decision on the NZ in 2010 pending completion of a definitive feasibility study scheduled for forth quarter of this year.

The Property hosts two important and separate mineral resources, being the tungsten-molybdenum bearing FTZ and the tin-indium-zinc bearing NZ. The FTZ is the site of a past-producing tungsten-molybdenum underground mining operation that produced and sold tungsten concentrate between 1983 and 1985.

Qualified Person

Trevor Boyd, P.Geo., the Company's Geological Consultant and 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.

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'.

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.

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.

Contacts:

Adex Mining Inc.

J. Errol Farr, CMA

President, Chief Executive Officer and Director

1-866-508-2339 (ADEX)
investorrelations@adexmining.com
www.adexmining.com