Toronto, Ontario--(Newsfile Corp. - October 30, 2026) - Adex Mining Inc. (TSXV: ADE) ("Adex" or the "Company") announces today that it has entered into a new loan agreement dated October 30, 2026, with Great Harvest Canadian Investment Company Limited ("Great Harvest"), Adex's largest shareholder, pursuant to which the Company has obtained, and Great Harvest has agreed to provide, a new unsecured loan (the "New Loan") in the principal amount of up to US$1,000,000. The New Loan bears interest at a rate of 8% 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 January 1, 2028.

The Company also announces today that it has entered into agreements with Great Harvest (each, a "Loan Extension", and collectively, the "Loan Extensions") 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 (each, a "Loan", and collectively, the "Loans") to January 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, December 31, 2017, December 31, 2018, April 27, 2020, August 28, 2023, November 28, 2024, and October 30, 2026, and advances of up to US$1,000,000 are due to mature on January 1, 2028. The 2016 Loan, of which all US$1,000,000 has been drawn, bears interest at 8% 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 totaled US$785,244 as of October 30, 2026.

The 2018 Loan was made available to Adex pursuant to a loan agreement with Great Harvest dated January 18, 2018, as amended on December 31, 2018, April 27, 2020, August 28, 2023, November 28, 2024, and October 30, 2026, and advances of up to US$600,000 are due to mature on January 1, 2028. The 2018 Loan, of which all US$600,000 has been drawn, bears interest at 8% 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 totaled US$410,344 as of October 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, August 28, 2023, November 28, 2024, and October 30, 2026, and advances of up to US$600,000 are due to mature on January 1, 2028. The 2019 Loan, of which all US$600,000 has been drawn, bears interest at 8% 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 totaled US$346,467 as of October 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, August 28, 2023, November 28, 2024, and October 30, 2026, and advances of up to US$600,000 are due to mature on January 1, 2028. The 2020 Loan, of which all US$600,000 has been drawn, bears interest at 8% 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 totaled US$272,706 as of October 30, 2026.

The 2021 Loan was made available to Adex pursuant to a loan agreement with Great Harvest dated September 30, 2021, as amended on August 28, 2023, November 28, 2024, and October 30, 2026, and advances of up to US$1,000,000 are due to mature on January 1, 2028. The 2021 Loan, of which all US$1,000,000 has been drawn, bears interest at 8% 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 totaled US$325,983 as of October 30, 2026.

The 2023 Loan was made available to Adex pursuant to a loan agreement with Great Harvest with an effective date of October 25, 2023, as amended on November 28, 2024, and October 30, 2026, and advances of up to US$1,000,000 are due to mature on January 1, 2028. The 2023 Loan, of which US$1,000,000 has been drawn, bears interest at 8% 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 totaled US$173,054 as of October 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 October 30, 2026, and advances of up to US$1,000,000 are due to mature on January 1, 2028. The 2025 Loan, of which US$1,000,000 has been drawn, bears interest at 8% 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 totaled US$48,604 as of October 30, 2026.

A copy of the agreement governing the New Loan may be found on the Company's SEDAR+ profile at www.sedarplus.ca. 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 at www.sedarplus.ca.

Great Harvest beneficially owns, directly or indirectly, or exercises control or direction over, 554,468,276 common shares ("Common Shares") of Adex, representing approximately 81.88% 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 ("MI 61-101"). 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 (the "Special Committee") comprised of a member of the board of directors of the Company (the "Board") 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

Adex Mining Inc. 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 multi-metal 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".

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 or its subsidiary, or of 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.sedarplus.ca 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 or 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, except as required by law.

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Source: Adex Mining Inc.