ADEX ANNOUNCES MOUNT PLEASANT POLYMETALLIC DISCOVERY.

TORONTO,ON--(BUSINESS WIRE)--MAY 10, 1995--ADEX MINING CORP.(TSE: AMG ) ADEX Mining Corp. announced today the partial results of a second exploration drill hole at the Mount Pleasant Mine Project in New Brunswick. Drill hole PRL-95-2 intersected 1.02 percent copper, 1.52 percent zinc, 0.11 percent MoS-2 (molybdenum sulfide) and 0.67 percent WO-3 (tungsten oxide) over 40.6 meters (m) from 317.0 m to 357.6 m, including a 19.3 m section which returned 1.66 percent copper, 2.94 percent zinc, 0.19 percent MoS-2 and 0.67 percent WO-3. This drilling program is being completed to test an unexplored portion of the property situated between the Saddle Zone containing possible reserves of 2.0 million tonnes averaging 0.92 percent tin and 1.6 oz indium per tonne and the Fire Tower Zone containing proven reserves of 9.0 million tonnes averaging 0.20 percent MoS-2 and 0.40 percent WO-3.

Using a combined metal value expressed as copper equivalent, this new zone equates to 2.82 percent Cu over 40.66 m (133.4 ft), including a 19.32 meter (63.4 ft) section averaging 4.70 percent copper. This new zone is within 100 meters of underground development, which will greatly enhance the economics of development. The core is also being analyzed for indium and bismuth. Additional results from PRL-95-2 through PRL-95-4 are expected over the coming weeks.

The company recently completed a positive pre-feasibility study for the production of tin, indium, copper, zinc, tungsten, bismuth and molybdenum, based on the existing proven and probable orebodies at the Mount Pleasant Mine. A bankable feasibility study will be initiated shortly.

The company also announced today that it is entertaining offers for its U.S. based oil and gas division, ADEX Resources Corp.

CONTACT: Bill Burton

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