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ADE.V ·

Adex Mining Announces Director Change

Management Changes

ADEX MINING ANNOUNCES DIRECTOR CHANGE

Toronto, Ontario – December 28, 2022 – Adex Mining Inc. ("Adex" or the "Company") (TSX‐

V: ADE) announces today that effective December 28, 2022, Mr. Henry Wong has resigned as a

member of the board of di rectors of Adex (the " Board") and Mr. Pierre Wing Kin Sze has been

appointed to the Board.

The Board would like to take this opportunity to express its sincere appreciation to Mr. Wong

for his valuable contributions and services to the Company.

Mr. Sze is a fellow member of the Association of Chartered Certified Accountants and the Hong

Kong Institute of Certified Public Accountants. He holds a Bachelor of Business Administration

(Hons) degree in Professional Accounting from The Hong Kong University of Science and

Technology and has extensive expe rience in corporate finance, investor relations, company

secretarial, financial management, auditing, acc ounting, taxation, internal control, treasury and

business advisory in Hong Kong and the People’s Republic of China.

ABOUT ADEX

Adex Mining Inc. is a Canadian junior mining co mpany with an experienced management team.

The Company is focused on developing its flagsh ip Mount Pleasant Mine Property, a multimetal

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 80 kilometres

south of Fredericton, the provincial capital, and 65 kilometres from the United States border. The

common shares of Adex trade on the TSX Venture Exchange under the stock symbol "ADE".

FOR FURTHER INFORMATION, PLEASE CONTACT:

Linda Lam Kwan

Chief Executive Officer

Adex Mining Inc.

(647) 243-8452

Email: [email protected]

Website: www.adexmining.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 th e policies of the TSX Venture Exchan ge) 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 othe r 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

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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.sedar.com 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 prospect s. New risk factors may arise from time to time and it is not

possible for management to predict all of those risk fact ors 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 re sults 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 obligati on to release publicly a ny revisions to these

forward‐looking statements to reflect events or circumstances after the date hereof or to reflect the

occurrence of unanticipated events.