Adex Mining Inc announced the results of a new Preliminary Assessment on its wholly owned Mount Pleasant Mine Property located in southwestern New Brunswick, Canada. Mount Pleasant is the site of a past producing tungsten-molybdenum underground mining operation which operated during the 1980s. This PA is a preliminary technical and economic assessment of the production of tin indium and zinc products from the North Zone of the Property.

The results of the PA indicate that there are 2 viable production options for the NZ, including the production of tin concentrate, indium sponge and zinc metal and the production of tin concentrate and zinc indium concentrate. Based on 10 year project life and production rate of 850 tonnes per day, the PA shows pre tax internal rates of return for the tin concentrate, indium sponge and zinc metal production option and the tin concentrate and zinc indium concentrate production option of 28.87% and 23.49% respectively.

Mr Errol Farr president and CEO of Adex said that "These are exciting times for Adex. The PA results reinforce Adex's plans for piloting the concentrate and metals flow sheets as a next phase leading to definitive feasibility and production. The NZ development is an integral part of Adex's overall strategy for producing tin, indium, zinc, tungsten and molybdenum from the resources at the Property."

NZ production is based on the economic assessment of the resource over a 10 year mine life and on conceptual mining and metallurgical processing methods as well as end-user standard revenue agreements. The PA indicates that the in situ outlined mineable blocks total 2,894,579 tonnes grading 0.76% tin, 191 grams per tonne indium and 1.91% zinc. The actual production rate of 850 tonne per day was determined by applying a 10% dilution factor with 85% mining extraction.