File: Attachment Adex Mining - News Release (June 2025).pdf

ADEX MINING ENGAGES MONETA SECURITIES TO LEAD 100% SALE OF MOUNT PLEASANT MINE IN NEW BRUNSWICK

Toronto, ON June 26, 2025 Adex Mining Inc. ("Adex" or the "Company") (TSX-V: ADE) is pleased to provide an update on the strategic review being conducted by the special committee of the board of directors of the Company (the "Special Committee"), together with its external advisor Moneta Securities (Alberta) Corp. ("Moneta") that was previously announced by the Company on May 15, 2025. Based on work conducted to date by the Special Committee in consultation with Moneta, an asset sale of the Company's wholly owned Mount Pleasant Mine Property, has emerged as the preferred alternative for the Special Committee and the board of directors of the Company. In accordance with Moneta's previously announced strategic review engagement, Moneta has now been mandated to pursue bids for the strategic asset sale.

The Company's Special Committee has determined that a full asset sale is in the best interests of stakeholders, given strong inbound interest and growing demand for secure, domestic sources of critical minerals. Moneta will oversee a structured sale process targeting both domestic and international strategic and financial acquirers. Non-binding bids in connection with the asset sale are due by the end of July 2025. Any parties interested in the Mount Pleasant Mine Property should contact Moneta directly.

THE MOUNT PLEASANT MINE PROPERTY

The Mount Pleasant Mine Property is a past-producing operation with fully built infrastructure, a permitted tailings facility, and underground access. Located in Charlotte County, New Brunswick, the Mount Pleasant Mine Property is 80 kilometers south of Fredericton, the provincial capital, and 65 kilometers from the United States border. Strategically located near the United States border with road and grid power connectivity, the Mount Pleasant Mine Property represents a rare opportunity to acquire an advanced-stage Canadian critical minerals asset.

The Mount Pleasant Mine Property is Canada's only known deposit containing significant quantities of tungsten, molybdenum, tin, bismuth, and indium. It has benefited from extensive historical exploration and feasibility-level work, with a strong foundation for near-term development.

The project includes:

dot Past-producing mine (~990,200 tonnes processed) with existing shaft access, surface infrastructure, and a permitted tailings facility;

dot One of North America's largest undeveloped tungsten-polymetallic resources;

dot Historical measured and indicated (M&I) resource estimate (the Mount Pleasant Technical Report (as defined herein)):

o North Zone (Tin, Zinc, Indium):

Indicated: 12.4 million tonnes grading 0.38% Sn, 0.86% Zn, and 64 g/t In

Inferred: 2.8 million tonnes grading 0.30% Sn, 1.13% Zn, and 70 g/t In

o Fire Tower Zone (Tungsten, Molybdenum): Indicated: 13.5 million tonnes grading 0.33% WO, 0.21% MoS, 0.57% As, and 0.06% Bi

Inferred: 0.84 million tonnes grading 0.26% WO, 0.20% MoS, 0.21% As, and 0.04% Bi;

dot Extensive historical capital investment and technical studies;

dot Exposure to strategic critical minerals aligned with North American supply chain priorities; and

dot Full permittance for advanced exploration with dewatering and underground infrastructure in place.

Scientific and technical information in this news release relating to the Mount Pleasant Mine Property is historical in nature and is derived from the technical report titled "Amended Technical Report of the Mount Pleasant Property, including Mineral Resource Estimates, Southwestern New Brunswick for Adex Mining Inc." dated April 13, 2012, and amended on October 11, 2013, prepared for the Company by Steven McCutcheon, Ph.D., P.Geo., of McCutcheon Geo-Consulting, John Reddick, M.Sc., P.Geo., of Reddick Consulting Inc., and Watts, Griffis and McOuat Limited, Tim McKeen, P.Eng., and Stephanie Scott, P.Eng., of Thibault & Associates Inc., Dorota El-Rassi, P.Eng., of SRK Consulting and Michael Kociumbas, P.Geo., of Watts Griffis and McOuat Limited. (the "Mount Pleasant Technical Report"). Reference should be made to the full text of the Mount Pleasant Technical Report, which was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43- 101") and is available electronically on SEDAR+ under Adex's issuer profile.

The foregoing historical scientific and technical information and statements regarding historical mineral estimates in relation to the Mount Pleasant Mine Property are no longer current and should not be relied upon. The Company has not prepared any more recent estimates since the historical estimates referred to above. While the Company generally believes these estimates to be reliable historical estimates of mineralized material contained in the Mount Pleasant Mine Property, their relevance is qualified by the amount of time that has passed since the effective date of those estimates. A qualified person under NI 43- 101 has not done sufficient work to classify the historical estimates presented above as current mineral resources or mineral reserves and Adex is not treating the historical estimates as current mineral resources or reserves. Additional drilling and sampling and quality control, amongst other things, will be required to verify the historical estimate as current mineral resources or mineral reserves.

The historical estimates were prepared based on the Canadian Institute of Mining Metallurgy and Petroleum ("CIM") Definition Standards on Mineral Resources and Reserves ("CIM Definition Standards") adopted by CIM Council on November 27, 2010 (the "2010 CIM Definition Standards"). The 2010 CIM Definition Standards were updated by CIM in 2014 to create the current standards ("2014 CIM Definition Standards") that harmonize Canadian definitions with other members of the Committee for Mineral Reserve International Reporting Standards (CRIRSCO). In particular, the 2010 CIM Definition Standards omitted the "reasonable prospectus for eventual economic extraction" component, which the 2014 CIM Definition Standards incorporated to align with other CRIRSCO members. The 2014 CIM Definition Standards also updated mineral reserves categorization require the reference point at which mineral reserves are defined to be stated. The scientific and technical information contained in this news release has been reviewed and approved by Robin Adair, a "Qualified Person" ("QP") as defined in NI 43-101. Robin Adair is independent of the Company and is a Professional Geologist registered in New Brunswick.

ABOUT ADEX

Adex Mining Inc. is a Canadian junior mining company with an experienced management team. The Company has maintained stewardship over the Mount Pleasant Mine Property while evaluating strategic alternatives and ensuring regulatory compliance. The Mount Pleasant Mine Property is a multi-metal project that is host to promising tungsten-molybdenum and tin-indium-zinc mineralization. The common shares of Adex trade on the TSX Venture Exchange under the stock symbol "ADE".

For more information, please contact: Linda Lam Kwan Chief Executive Officer Adex Mining Inc. 1-647-243-8452 Email: investorrelations@adexmining.com Website: www.adexmining.com

ABOUT MONETA

Moneta Securities (Alberta) Corp. is a Canadian investment banking and advisory firm specializing in mergers and acquisitions, capital raising, and strategic transactions across the natural resources and infrastructure sectors.

For all inquiries related to the Mount Pleasant Mine Property and the strategic asset sale, please contact: Erin Campbell Chief Executive Officer and Co-Founder Moneta Securities (Alberta) Corp. Email: erin.campbell@monetasecurities.com Website: www.monetasecurities.com

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.

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, Ontario, New Brunswick and Nova Scotia Securities Commissions which are available at www.sedarplus.ca 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.

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