Ms. Linda Lam Kwan reports

ADEX MINING ANNOUNCES NEW LOAN AGREEMENT WITH GREAT HARVEST AND FURTHER AMENDMENTS TO EXISTING LOAN AGREEMENTS

Adex Mining Inc. has entered into a new loan agreement dated Oct. 30, 2026, 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 new loan bears interest at a rate of 8 per cent per annum and the agreement governing the new loan entitles the company to effect repayment of amounts drawn under the new loan at any time prior to maturity, without penalty. The new loan matures on Jan. 1, 2028.

The company also announces today that it has entered into agreements with Great Harvest to extend the maturity of the July, 2016, January, 2018, March, 2019, April, 2020, September, 2021, October, 2023, and July, 2025, loan agreements between Adex and Great Harvest, as amended, to Jan. 1, 2028.

The 2016 loan was made available to Adex pursuant to a loan agreement with Great Harvest dated July 14, 2016, as amended on July 13, 2017, Dec. 31, 2017, Dec. 31, 2018, April 27, 2020, Aug. 28, 2023, Nov. 28, 2024, and Oct. 30, 2026, and advances of up to $1-million (U.S.) are due to mature on Jan. 1, 2028. The 2016 loan, of which all US$1-million (U.S.) has been drawn, bears interest at 8 per cent per annum and the 2016 loan agreement entitles the company to effect repayment of amounts drawn under the 2016 loan at any time prior to maturity, without penalty. Accrued and unpaid interest on the 2016 loan totalled $785,244 (U.S.) as of Oct. 30, 2026.

The 2018 loan was made available to Adex pursuant to a loan agreement with Great Harvest dated Jan. 18, 2018, as amended on Dec. 31, 2018, April 27, 2020, Aug. 28, 2023, Nov. 28, 2024, and Oct. 30, 2026, and advances of up to $600,000 (U.S.) are due to mature on Jan. 1, 2028. The 2018 loan, of which all $600,000 (U.S.) has been drawn, bears interest at 8 per cent per annum and the 2018 loan agreement entitles the company to effect repayment of amounts drawn under the 2018 loan at any time prior to maturity, without penalty. Accrued and unpaid interest on the 2018 loan totalled $410,344 (U.S.) as of Oct. 30, 2026.

The 2019 loan was made available to Adex pursuant to a loan agreement with Great Harvest dated March 4, 2019, as amended on March 5, 2020, Aug. 28, 2023, Nov. 28, 2024, and Oct. 30, 2026, and advances of up to $600,000 (U.S.) are due to mature on Jan. 1, 2028. The 2019 loan, of which all $600,000 (U.S.) has been drawn, bears interest at 8 per cent per annum and the 2019 loan agreement entitles the company to effect repayment of amounts drawn under the 2019 loan at any time prior to maturity, without penalty. Accrued and unpaid interest on the 2019 loan totalled $346,467 (U.S.) as of Oct. 30, 2026.

The 2020 loan was made available to Adex pursuant to a loan agreement with Great Harvest dated April 27, 2020, as amended on April 26, 2021, Aug. 28, 2023, Nov. 28, 2024, and Oct. 30, 2026, and advances of up to $600,000 (U.S.) are due to mature on Jan. 1, 2028. The 2020 loan, of which all $600,000 (U.S.) has been drawn, bears interest at 8 per cent per annum and the 2020 loan agreement entitles the company to effect repayment of amounts drawn under the 2020 loan at any time prior to maturity, without penalty. Accrued and unpaid interest on the 2020 loan totalled $272,706 (U.S.) as of Oct. 30, 2026.

The 2021 loan was made available to Adex pursuant to a loan agreement with Great Harvest dated Sept. 30, 2021, as amended on Aug. 28, 2023, Nov. 28, 2024, and Oct. 30, 2026, and advances of up to $1-million (U.S.) are due to mature on Jan. 1, 2028. The 2021 loan, of which all $1-million (U.S.) has been drawn, bears interest at 8 per cent per annum and the 2021 loan agreement entitles the company to effect repayment of amounts drawn under the 2021 loan at any time prior to maturity, without penalty. Accrued and unpaid interest on the 2021 loan totalled $325,983 (U.S.) as of Oct. 30, 2026.

The 2023 loan was made available to Adex pursuant to a loan agreement with Great Harvest with an effective date of Oct. 25, 2023, as amended on Nov. 28, 2024, and Oct. 30, 2026, and advances of up to $1-million (U.S.) are due to mature on Jan. 1, 2028. The 2023 loan, of which $1-million (U.S.) has been drawn, bears interest at 8 per cent per annum and the 2023 loan agreement entitles the company to effect repayment of amounts drawn under the 2023 loan at any time prior to maturity, without penalty. Accrued and unpaid interest on the 2023 loan totalled $173,054 (U.S.) as of Oct. 30, 2026.

The 2025 loan was made available to Adex pursuant to a loan agreement with Great Harvest with an effective date of July 25, 2025, as amended on Oct. 30, 2026, and advances of up to $1-million (U.S.) are due to mature on Jan. 1, 2028. The 2025 loan, of which $1-million (U.S.) has been drawn, bears interest at 8 per cent per annum and the 2025 loan agreement entitles the company to effect repayment of amounts drawn under the 2025 loan at any time prior to maturity, without penalty. Accrued and unpaid interest on the 2025 loan totalled $48,604 (U.S.) as of Oct. 30, 2026.

A copy of the agreement governing the new 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 six months ended June 30, 2026, and 2025, 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 of whom is a related party of the company within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. As such, the new loan and the loan extensions each constitute 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 new loan and each loan extension 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 new loan and each loan extension is not convertible into equity or voting securities of the company or a subsidiary of the company; and (iii) the new loan and each loan extension is not repayable as to principal or interest in equity or voting securities of the company or a subsidiary of the company.

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

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.

We seek Safe Harbor.