Adex Mining Inc. (TSXV: ADE) announced on November 6, 2026 that its wholly-owned subsidiary, Adex Minerals Corp., has jointly agreed with the Mining Recorder of New Brunswick's Department of Natural Resources and Energy to adjourn its pending appeal before the New Brunswick Energy and Utilities Board (NBEUB). The hearing, originally scheduled for December 3 and 4, 2026, has been rescheduled to March 11 and 12, 2027. The company states the adjournment will allow it to focus internal resources on its ongoing strategic review process, including identifying a value-maximising transaction for the Mount Pleasant mining project.

Key Points

  • Adex Mining Inc. (TSXV: ADE) is a Toronto-based Canadian junior mining company focused on the Mount Pleasant multi-metal project in New Brunswick.
  • The NBEUB appeal hearing has been adjourned by mutual consent to March 11 and 12, 2027, from the original December 3–4, 2026 dates.
  • An interim stay reinstating mineral claim 1505 in the name of Adex Minerals remains in effect pending the rescheduled hearing.
  • Investors may be watching for updates on the company's strategic review and any potential transaction related to the Mount Pleasant project.

Background on the Mineral Claim Cancellation and Adex Minerals Appeal

As previously disclosed by Adex, the Mining Recorder issued correspondence dated July 13, 2026, advising that mineral claim 1505 — upon which the Mount Pleasant project is situated — had been cancelled and placed in protected status. The Mining Recorder cited failures to complete sufficient work program expenditures as required under section 11(1) of New Brunswick's General Regulation under the Mining Act. Adex Minerals filed its appeal on July 29, 2026, challenging that cancellation decision before the NBEUB.

Interim Stay of Cancellation Remains Active for Mount Pleasant Project

Following an interim stay hearing before the NBEUB on August 31, 2026, Adex Minerals successfully obtained a stay of the Mining Recorder's cancellation on September 9, 2026. This reinstated mineral claim 1505 in the name of Adex Minerals pending a final determination of the appeal. The company's announcement confirms this status remains in effect under the newly rescheduled March 2027 hearing timeline, preserving the company's operational position at Mount Pleasant in the interim.

Adex Maintains Its Position on the Appeal While Advancing Strategic Review

The company was explicit that the adjournment does not represent any concession on its legal position. The release states Adex Minerals continues to believe the Mining Recorder acted unreasonably and failed to engage with its good faith proposals to meet expenditure requirements. Concurrently, the company's special committee of independent directors, working with external advisors, remains engaged in pursuing potential transaction opportunities with interested parties in connection with the Mount Pleasant project's ongoing strategic review.