Drilling B Zone returns 27.2 g/t Gold over 2m

Geodex Minerals $600,000 summer drill program is under way first results in are very encouraging - B- Zone returns 7.9 g/t Gold over 7.4 M incl. 27.2 g/t over 2m.

(PRWEB) June 25, 2004 -- Geodex Minerals Ltd. is pleased to announce the results of the first six holes of their $600,000 summer diamond drill programme on the Armstrong Brook gold property, located near Saint John, New Brunswick. Geodex has option agreements with two parties in New Brunswick to obtain a 100 % interest in the 120-claim unit property. The claims cover the past producing Cape Spencer open pit gold mine and a nine kilometre belt of favourable geological structures and stratigraphy.

The drilling programme consisted of six holes for a total of 394 metres drilled to test two gold showings located in eastern part of the property.

At the B" zone, four holes ranging from 46 to 55 metres in length tested a structurally complex zone of quartz flooding related to a major thrust fault and subsidiary structures. The holes were drilled at various orientations to gain information about the vein orientations and controls of gold mineralization.

The high-light of the B zone drilling is from hole AB-04-6 where a 7.4 metre intersection from 2.0 to 9.4 metres assayed 7.86 g/t gold. Included in this interval is a 2.0 metre section from 2.0 to 4.0 metres with 27.16 g/t gold. The three other holes also intersected multiple gold-bearing zones with values up to 1.40 g/t gold over 3.0 metres found in hole AB-04-4.

The drilling results at the B zone suggest the presence of at least two main gold-bearing vein orientations. Northeast-trending veins are concordant with the principal direction of regional thrust faulting. However, northwest-striking faults also appear to be important controls of gold mineralization and historically, veins of this orientation have received little exploration.

Follow-up back-hoe trenching has started and additional drilling will be done at the B zone to gain further information on the structural controls and extent of the gold mineralization.

At the Gold Brook showing, two holes targeted pyritic and clay-altered zones within a major regional fault structure. Both holes intersected multiple zones of quartz veining. In hole AB-04-1, a 4.5 metre section from 85.5 to 90.0 metres assayed 0.40 g/t gold. A 1.2 metre section in hole AB-04-02 returned 0.70 g/t gold.

A summary of the most significant assay results from the six holes are given below. All holes were drilled at a -45° angle.

B" Zone Showing

Hole No.   Interval (m)   Core Length (m)   Gold Assay (g/t)

AB-04-03      8.1 -- 10.0      1.9      0.63      
              25.6 -- 28.7      3.1      0.42

AB-04-04      10.6 -- 13.6      3.0      1.40      
              26.0 -- 30.4      4.4      0.92

AB-04-05      9.6 -- 10.5      0.9      0.11
              30.9 -- 34.2      3.3      1.22

AB-04-06      2.0 -- 9.4      7.4      7.86
includes      2.0 -- 4.0      2.0      27.16

AB-04-6      24.2-25.1      0.9      2.92
              28.5 -- 30.6      2.1      0.44

Gold Brook Showing

Hole No.   Interval (m)   Core Length (m)   Gold Assay (g/t)

AB-04-01      85.5 -- 90.0   4.5m      0.40

AB-04-02      71.1 -- 72.3   1.2m      0.70            
All split core samples were analysed at SGS Mineral Services lab in Toronto. Samples from the Gold Brook zone were analysed using a standard 30 gram fire assay. Because of the abundant coarse gold seen in the B zone core, samples from all holes drilled at this showing were analysed using a screened metallics assay method.

Geodex is very encouraged by the results of these first holes of the on-going drilling programme. Further drilling results will be released when they become available.

Geodex Minerals Ltd has four gold and one diamond project. Armstrong Brook is the companys leading gold project. Details on Armstrong Brook and the five other projects in Geodexs inventory - the Potter Stock gold project , the New Caanan gold property, Corhill gold property, and the Superior Diamond project in Manitoba can all be found on our website, www.GeodexMinerals.com .

ON BEHALF OF THE BOARD OF DIRECTORS
GEODEX MINERALS LTD.

"Jack M. Maris"

Jack M. Maris
President

For further information contact: Christopher R. Anderson, Investor Relations

(604) 689-7771, Toll free 1-888-999-3500, Email: IR@geodexminerals.com