Adex Mining Announces Senior Management Change

TORONTO, Dec. 30, 2021 - Adex Mining Inc. ("Adex" or the "Company") (TSX‐V: ADE) announces today that the board of directors of the Company has appointed Xiao Long Li as interim Chief Financial Officer effective January 1, 2022.

Mr. Li, CPA, CA (Ontario), CPA (Delaware), and CFA Candidate, level III, has over 13 years of public practice and corporate accounting experience in various positions, including experience in auditing, TSX / TSXV & NASDAQ public company reporting and accounting management, and, for the last 5 years, an on-going role as a Chief Financial Officer and Financial Controller with a private issuer. Effective January 1, 2022, he will assume the role from Volodymyr Ivanov, who had served as interim Chief Financial Officer of the Company since June 2021.

The Company wishes to thank Mr. Ivanov for his service.

ABOUT ADEX

Adex Mining Inc. is a Canadian junior mining company with an experienced management team. The Company is focused on developing its flagship 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: investorrelations@adexmining.com
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 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.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 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