Adex Announces Receipt of Updated Approval to Operate
TORONTO, ONTARIO -- (Marketwire) -- 10/03/12 -- Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE: ADE) is pleased to announce that it has received from the New Brunswick Department of Environment & Local Government (the "Department"), an updated approval to operate the dormant Mount Pleasant Mine site in care and maintenance. Approved operations include treating wastewater from the flooded underground mine shafts, exploration activities, operating metallurgical bench or pilot scale mill tests, and other care and maintenance activities. The approval does not authorize Adex to dewater or operate the underground mine or operate a surface concentrator plant.
The terms of the approval require Adex to continue to perform maintenance and monitoring of the site, emergency reporting and response measures, monitoring for detection of unapproved contaminant releases, surface water monitoring, environmental effects monitoring and monthly reporting on the forgoing.
Additionally, Adex is required, by March 31, 2013, to submit to the Department a mine water management plan including a cost report on the plan, a tailings flood plan and contingency plan, and an updated sludge cell project proposal and timeline to complete. The approval also sets out parameters for the operation of the new mine water treatment facility to be approved and constructed, and parameters for the operation of the tailings impoundment facility which already exists. Adex will also be required to post a rehabilitation bond, which may or may not exceed the bond currently posted by Adex for this purpose.
ABOUT ADEX
Adex Mining Inc. is a Canadian junior mining company focused on developing its flagship Mount Pleasant Mine Property, a multi-metal project that is host to promising tungsten-molybdenum and tin-indium-zinc 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.
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.
Linda Lam Kwan
Interim President and Chief Executive Officer
1-866-508-2339 (ADEX)
investorrelations@adexmining.com
www.adexmining.com
