Ms. Linda Kwan reports

ADEX MINING ANNOUNCES NEW LOAN AGREEMENT WITH GREAT HARVEST

Adex Mining Inc. has entered into a new loan agreement dated July 25, 2025, with Great Harvest Canadian Investment Company Ltd., Adex's largest shareholder, pursuant to which the company has obtained, and Great Harvest has agreed to provide, a new unsecured loan in the principal amount of up to $1-million (U.S.). The loan bears interest at a rate of 8 per cent per annum and the loan agreement entitles the company to effect repayment of amounts drawn under the loan at any time prior to maturity, without penalty. The new loan matures on Jan. 1, 2027.

A copy of the loan may be found on the company's SEDAR+ profile. For a summary of the prior loan agreements between the company and Great Harvest, please refer to the company's interim management's discussion and analysis for the three months ended March 31, 2025, and 2024 available on the company's SEDAR+ profile.

Great Harvest beneficially owns, directly or indirectly, or exercises control or direction over, 554,468,276 common shares of Adex, representing approximately 81.88 per cent of the issued and outstanding common shares. Great Harvest is controlled by Yan Kim Po and Linda Lam Kwan, both of whom are directors of the company, and each a related party of the company within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). As such, the loan constitutes a related party transaction within the meaning of MI 61-101. The company is relying on an exemption from the minority approval requirement that applies to related party transactions, which exemption is available to the company as: (i) the loan comprises a loan or credit facility obtained on reasonable commercial terms that is not less advantageous to the company than if the loan or credit facility were obtained from a person dealing at arm's length with the company; (ii) the loan is not convertible into equity or voting securities of the company or a subsidiary of the company; and (iii) the loan is not repayable as to principal or interest in equity or voting securities of the company or a subsidiary of the company.

The loan has been reviewed and approved by a special committee comprising members of the board who are independent of Great Harvest and are not members of management of the company. Each of Yan Kim Po, Ms. Kwan and Pierre Wing Kin Sze, all directors of the company who are associated with Great Harvest, abstained from voting with respect to the loan. The special committee determined that it is in the best interests of the company to enter into the loan.

About Adex Mining Inc.

Adex Mining 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 multimetal 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.

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