Geodex Drilling to Target Source of High Grade Tungsten Boulder Trains at Dungarvon Project

Geodex Minerals Ltd. (TSX VENTURE:GXM) (FRANKFURT:G2W), (the "Company" or
"Geodex") is pleased to announce that drilling is scheduled for the beginning of
June to test for the source of numerous high grade tungsten boulders on the
Dungarvon Project in New Brunswick. 


Geodex's 2012 Dungarvon program focused on vectoring in on the potential source
area of numerous large and high grade tungsten plus molybdenum bearing boulders.
Based upon that work Geodex has successfully defined the target area for
drilling. Geodex has received the required drill permits and signed a contract
to complete a minimum of 800 metres of drilling in approximately 6 to 8 drill
holes. 


Mark Fields, President & CEO, commented "Geodex has used prospecting, soil
sampling, geology, geophysics and glacial transport studies based on excavator
pits to identify and constrain the potential source of the large and high grade
boulders. These boulders have been ripped up and transported from their original
in-place locations by the glaciers that moved over the area several thousand
years ago. Based on all this work we are well prepared to undertake this drill
program to test for a high grade tungsten-molybdenum system underneath the
glacial till cover at Dungarvon."


David Martin, Vice President New Brunswick Operations, noted "We have been
working to understand the local geology and glacial history since 2011 when we
acquired Dungarvon. Our previous work at Sisson has proven invaluable in helping
us choose the most effective tools to identify the most prospective area to
drill. While there are many similarities between Dungarvon and Sisson, the
fundamental difference is we are focusing on the tungsten-molybdenum high grade
potential of a greisen-quartz vein system at Dungarvon while Sisson is a bulk
tonnage deposit."


Highlights of the 2012 results included:



--  Continued success finding large greisen-quartz veined boulders well
    mineralized with tungsten and molybdenum. The most significant find in
    2012 was a one to two metre diameter boulder. An initial grab sample
    from this boulder graded 3.49% tungsten trioxide (WO3) and 0.20%
    molybdenum. A second representative grab sample graded 1.03% WO3 and
    0.25% molybdenum. 
--  Geophysical surveys which improved the definition of the contact zone
    between the Devonian Dungarvon Granite and the country rock, a key
    mineralizing control and hidden beneath the pervasive glacial till
    cover. 
--  Improving the understanding of the glacial movements transporting the
    large mineralized boulders through till studies in a series of excavator
    pits, helping to vector into the most prospective areas for drilling. 
--  Soil sampling extended and fully defined the previously known tungsten-
    molybdenum anomalies in this area which are partially coincident with
    the mineralized boulder trains.



The comprehensive program in 2012 focused on the Peaked Mountain area of the
Dungarvon Project. Maps detailing the results of this work are in the current
Geodex presentation on the website at: www.geodexminerals.com. In addition the
work advanced tin targets in the southern part of the Dungarvon Project area and
an initial drill test of these tin anomalies is also planned. 


Geodex's disclosure of a technical or scientific nature in this press release
has been reviewed and approved by David Martin, P. Geol., Geodex's Vice
President New Brunswick Operations, who acts as the qualified person under the
definition of National Instrument 43-101.


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 critical metals in New Brunswick. Its current main focus is the
Dungarvon Tungsten-Molybdenum Project. 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] or Toll Free: 1-888-999-3500
[phone] (FAX)
[e-mail]
www.geodexminerals.com