BASE METAL EXPLORATION: Adex moves forward at Mount Pleasant

NEW BRUNSWICK — Adex Mining of Toronto is planning to develop the North zone at its Mount Pleasant mine property 80 km south of Fredericton. The North zone, which hosts tin-indium-zinc mineralization, is one of two mineralized zones on the property. The other is the past-producing tungsten-molybdenum Fire Tower zone that was mined underground between 1983 and 1985.

Adex plans to conduct pilot plant programs beginning this winter for the production of tin and indium-zinc concentrates as well as production of indium sponge and zinc metal. A drilling program will begin this spring to upgrade resources, and that will be followed next fall by a definitive feasibility study. A production decision may be made as early as the fall of 2010.

Concentrate production could begin in October or November 2011, if the feasibility study is positive, government approvals are received and financing can be arranged.

Various scenarios for resuming production at Mount Pleasant are discussed at www.AdexMining.com.