Geodex Announces New Inferred Resource in Mo, W from Zone III at the Sisson Brook Copper-tungsten-molybdenum Deposit, New Brunswick

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The inferred resource in Zone III is estimated to be 10.82 million tons of 0.151% WO3 and 0.073% MoS2. It should be stressed that this is a preliminary calculation and is only a starting point for further work. Trading Symbol: GXM

Geodex Minerals Ltd. (the ¡¥Company') is pleased to report results of an ¡¥in-house' resource calculation on Zone III at the Sisson Brook property in central New Brunswick. Zone III was one of the more significantly mineralized areas on the property reported by Texasgulf/ Kidd Creek Mines from their drilling in the period 1981 to 1983. The Company has re-assayed selected samples from existing core to verify the assays but the resource calculation is based primarily on this earlier information. Background data on the project is summarized in News Releases of November 8th, 2004 and April 5th 2005.

The inferred resource in Zone III is estimated to be 10.82 million tons of 0.151% WO3 and 0.073% MoS2. It should be stressed that this is a preliminary calculation and is only a starting point for further work. The estimate was made by David Martin, B.Sc., P.Geo., the Company's exploration manager in New Brunswick who has examined all the core and visited the area on site.

The resource is open along strike and to depth. It is based on 13 angled ¡¥BQ' drill holes by Kidd Creek Mines Ltd. in 1981 and 1982. The mineralized zone has been traced on surface for 600 m and with the deepest intersection to a vertical depth of 250 m. Holes were drilled on 100 m spaced sections. Original assaying was done by Bondar-Clegg in Ottawa, using AA (HNO3-HCL extraction) for MoS2 and calorimetric (thiocyanate extraction) methods for WO3.

Zone III in previous technical reports is said to comprise at least five separate subzones of scheelite-molybdenite- bearing quartz veinlets, bearing approximately 032 „a and dipping steeply to the west. The deposit occurs in both tuff and gabbro. The calculation was done using a Specific Gravity of 3.2 (from the same source) and an 0.05% Mo equivalent cutoff based on $US10.00 /lb molybdenum and $2.50/ lb tungsten.

Work will commence in June with I.P., ground magnetic and gravity surveys to define the limits of Zone III and to link it with the known copper-tungsten resources in Zones I and II to the north. It also appears to be connected with at least one major molybdenum-in-soils anomaly to the south and several untested I.P. anomalies.

Jack Marr, M.Sc., P. Geo., is the Qualified Person for this project as defined by National Instrument 43-101.

On behalf of the Board of Directors - Geodex Minerals LTD.

Jack M. Maris    

President

For further information contact:

Christopher R. Anderson, Investor Relations

(604) 689-7771

Toll free 1-888-999-3500

Email: info@geodexminerals.com

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Christopher Anderson