Geodex Minerals Ltd.: Benjamin and Pabineau Properties Acquired in New Brunswick

Geodex Minerals Ltd. (TSX VENTURE:GXM)(FRANKFURT:G2W) (the "Company" or
"Geodex") is pleased to announce that it has acquired two new projects in
northeast New Brunswick through separate option to purchase agreements. Both
projects have near ready drill targets, have the potential to provide
significant discoveries with an initial drill program and are close to all
infrastructure facilities, including being road accessible. The acquisitions are
consistent with Geodex's strategy of acquiring New Brunswick projects which have
the potential of developing attractive drill targets with one focused
exploration phase, followed by drilling targets of merit in a timely fashion.


Benjamin Copper-Molybdenum Project

The Benjamin project is a porphyry copper-molybdenum target located
approximately 60 km northwest of Bathurst, New Brunswick. It is an area of
extensive glacial till cover. Previous explorers reported copper-molybdenum soil
anomalies, a partially coincident induced polarization chargeability high as
well as resistivity low anomalies to identify a prospective area. Two historic
drill holes near the eastern margin of this prospective area intercepted
mineralization, the best reported assay being 1.42% copper, 1.25% zinc and 0.05%
lead over 1.5 metres.


Geodex has an option to purchase agreement for the Benjamin project from New
Brunswick based prospectors. The agreement terms provide Geodex the right to
acquire 100% of the project interest for an initial payment of 120,000 Geodex
shares followed by a series of escalating share payments of a further 3,185,000
Geodex shares over 6 years. The number of shares is reduced should Geodex's
share price exceed $0.40. The vendors retain a 2.0% net smelter royalty, of
which Geodex has the right to purchase 1.0% for $1 million. The agreement and
acquisition is subject to the normal TSX-V and regulatory approvals.


Pabineau Molybdenum Project

The Pabineau project is a molybdenum target located approximately 11 km
southwest of Bathurst, New Brunswick. It is also an area of extensive glacial
till cover. Previous work has identified a number of boulders containing
molybdenite. Assays from various boulders included 0.254% Mo, 0.244% Mo and
0.149% Mo. Molybdenum soil and stream sediment anomalies have been reported in
multiple locations within property. Historic packsack drilling in the northern
part of the property intersected near-surface molybdenum mineralization with
reported intersections including 1.68% MoS2 over 0.8 metres and 0.32% MoS2 over
1.5 metres.


Geodex has an option to purchase agreement on the Pabineau project from a New
Brunswick based prospector. The agreement terms provide Geodex the right to
acquire 100% of the project interest for an initial payment of $400 and further
payments in six months of $5,000 cash and 5,000 Geodex shares. Subsequently
there are a series of escalating payments of a further $83,000 and 200,000
Geodex shares over 5.5 years. The number of shares is reduced should Geodex's
share price exceed $0.40. The vendor retains a 2.0% net smelter royalty, of
which Geodex has the right to purchase 1.0% for $1 million. The agreement and
acquisition is subject to the normal TSX-V and regulatory approvals.


Mark Fields, President and CEO, commented, "Geodex has remained active during
this period of historically low junior company share prices and very restricted
financing opportunities. The acquisition of the Benjamin and Pabineau projects
continues to demonstrate that. Our strategy is to continue property work and
acquisitions that are consistent with the difficult market conditions. We
believe this provides our shareholders with an opportunity for a drill discovery
and also to quickly take advantage of improving markets when that occurs."


Geodex will provide further technical details and exploration plans for Benjamin
and Pabineau shortly.


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. 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.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Geodex Minerals Ltd.
Investor Relations
604-689-7771 or Toll Free: 1-888-999-3500
604-689-5528 (FAX)
[e-mail]
www.geodexminerals.com