Thursday, October 23, 2008

Adex's Fire Tower at 13.48mt of 0.33% WO3, 0.21% MoS2 I

Adex Mining Inc. has completed an updated National Instrument 43-101 mineral resource estimate for the Fire Tower zone (FTZ) tungsten-molybdenum deposit at its wholly owned Mount Pleasant mine property in New Brunswick, Canada. The resource estimate includes an indicated resource of 13,489,000 tonnes, as well as an inferred resource of 841,700 tonnes.

"Upgrading the FTZ resource estimate to National Instrument 43-101 indicated status was a necessary prerequisite to advancing the FTZ to the feasibility stage of development," said Kabir Ahmed, president and chief executive officer of Adex. "Having efficiently and effectively achieved this important milestone, we look forward to continuing our fast-track approach to mine development at Mount Pleasant."

The resource estimate, completed by SRK Consulting (Canada) Ltd. using an updated Gemcom model, was conducted in conjunction with the preparation of an independent NI 43-101 technical report currently being completed by Watts, Griffis and McOuat Ltd. (WGM), all under the supervision of Trevor Boyd, PGeo, the company's geological consultant. Details of the resource estimate are shown in the attached table.

Read the full release on the Company Website

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