Geodex Targetting 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 the results of the 2012 exploration program on
its Dungarvon tungsten-molybdenum-tin project in New Brunswick, Canada. The
program met its objective of refining the drill target areas to test for the
source of multiple high grade tungsten boulder trains on the Dungarvon Project. 


The 2012 Dungarvon program focused on the Peaked Mountain portion of the project
area. Highlights of the results there included:




--  Continued success finding large 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. This boulder extended
    to the south one of the 2 previous boulder trains identified on this
    part of the Dungarvon Project. 
--  Improving the definition of the contact zone between the Devonian
    Dungarvon Granite and the country rock, a key mineralizing control and
    hidden beneath a pervasive glacial till cover, through geophysics. 
--  Improving the understanding of the glacial movements transporting the
    large mineralized boulders through 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 two tungsten-molybdenum boulder trains currently defined in the Peaked
Mountain area include numerous boulders with grades in excess of 1% WO3 and in
excess of 1 metre dimensions. Of particular interest were greisen type boulders
believed to be from the contact zone of the Dungarvon Granite and the country
rocks as these could come from a deposit of sufficient size and grade to be of
economic interest. For grade comparison the Sisson Project Proven and Probable
mineral reserves is currently 334 million tonnes grading 0.066% WO3 and 0.021%
molybdenum (see Northcliff Resources press release, January 29, 2013). Geodex is
focussing on the high grade potential demonstrated at the Dungarvon Project
rather than the bulk tonnage type deposit such as Northcliff Resources is
successfully advancing at the Sisson Project. The positive feasibility study
results Northcliff recently released provides confidence of the attractiveness
of a robust tungsten target.


The comprehensive program in 2012 focused on the Peaked Mountain area of the
Dungarvon Project. In addition the work advanced tin targets in the southern
part of the Dungarvon Project area as well as tungsten-molybdenum anomalies in
the Fall Brook northern area. The mineralization and anomalies on the Dungarvon
Project cover an area extending 8 km north-south and 1.5 km east-west.


Geodex is in the process of planning a drill program to test for the sources of
the high grade boulder trains in the Peaked Mountain area of the Dungarvon
Project. It will announce this program when the planning is complete.


Geodex used 2012 to complete a capital re-structuring following the sale of its
remaining 30% ownership of the Sisson tungsten-molybdenum project and subsequent
distribution to its shareholders of the Northcliff Resources shares received
through the transaction. The 2012 Dungarvon field work during this
re-structuring process was designed to develop a thorough understanding of the
most likely sources of the high grade tungsten boulder trains in preparation for
a 2013 drill program. 


Geodex's disclosure of a technical or scientific nature in this press release
has been reviewed and approved by David Martin, P. Geol., 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