Geodex Announces Unit Private Placement

Geodex Minerals Ltd. (TSX VENTURE:GXM) (FRANKFURT:G2W), ("Geodex") announces
that it will proceed with a non-brokered private placement of up to 4,200,000
million units and shares of Geodex. It is expected that the financing will
comprise a combination of non-flow through units (the "Non-Flow-Through Units")
and flow-through shares ("Flow-through Shares"). The Non-Flow-Through Units will
be priced at $0.06 per Unit. Each Unit will be comprised of one common share and
one half share purchase warrant (a "Warrant"). Each full Warrant will be
exercisable into one Geodex common share at $0.10 per share for a period of 12
months from the closing date. Each Flow-Through Share will be priced at $0.06
for one common share.


Proceeds from the private placement will be used for work programs on Geodex's
New Brunswick projects and for general corporate purposes. Geodex plans to
complete drill programs on the Benjamin Copper-Molybdenum and South Dungarvon
Tin Projects in addition to further work on its Pabineau Molybdenum Project and
other projects.


Geodex may pay finder's fees on a portion of the financing in accordance with
TSX Venture Exchange guidelines. All securities issued on the proposed private
placement will be subject to a four month hold period. The placement is subject
to the approval of the TSX Venture Exchange.


About Geodex

Geodex is a mineral resource company focused on New Brunswick, Canada. Geodex
has continued to actively develop its exploration portfolio focused on the
discovery of base and critical metals in New Brunswick. Geodex has operated for
a decade in New Brunswick where it has had a number of discovery and development
successes including Sisson and Mount Pleasant West.


ON BEHALF OF THE BOARD OF DIRECTORS

GEODEX MINERALS LTD.

Mark Fields, President & CEO

Forward Looking Statement

Certain information regarding the Company contained in this press release may
constitute forward-looking statements within the meaning of applicable
securities laws. Forward-looking statements may include estimates, plans,
opinions, forecasts, projections or other statements that are not statements of
fact. Although the Company believes that expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. The Company cautions that actual
performance will be affected by a number of factors, many of which are beyond
the Company's control, and that future events and results may vary substantially
from what the Company currently foresees. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Geodex Minerals Ltd.
Investor Relations
[phone], Toll free 1-888-999-3500
www.geodexminerals.com