Geodex Reports 306.6 m Intersection of 0.06% WO3 and 0.03% Mo from First Drill Hole at the Sisson Brook Property, New Brunswick

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Geodex Minerals Ltd. (the ‘Company’) is pleased to report assay results as follows from the first hole (SB-06-03) drilled in the summer program at Sisson Brook, New Brunswick.

Geodex reports 306.6 m intersection of 0.06% WO3 and 0.03% Mo from first drillhole at the Sisson Brook Property, New Brunswick.

Geodex Minerals Ltd. (the ‘Company’) is pleased to report assay results as follows from the first hole (SB-06-03) drilled in the summer program at Sisson Brook, New Brunswick.

From(m): To(m): Length(m): Mo%WO3%

11.9, 318.5, 306.6, 0.030, 0.060

*includes*

102.5, 318.5, 216.0, 0.041, 0.065

*includes*

245.0, 318.5, 73.5, 0.070, 0.019

*also*

318.5, 350.0 (EOH), 31.5, 0.020, 0.011

The present hole SB-06-03 (NQ size, total length 350 m.) was mineralized throughout its length. It was drilled at an inclination of – 55 degrees through the central part of Zone III, an area of tungsten and molybdenum mineralization representing the southern part of a larger mineralized system. As the intersections above indicate, the tungsten mineralization (mainly scheelite) and the molybdenum mineralization (mainly molybdenite) correspond in a general way, although they appear to peak independently. Since the overall system is believed to be steeply dipping, these intersections will not represent true width.

For comparative purposes to other types of deposits, the company notes that the 216 m intersection shown above has a per tonne value ‘in the ground’ of $US35.52, using current prices (Northern Miner July 7-13, 2006). The company does not of course wish to suggest that these values are likely to be part of its longer term planning for future development.

Hole SB-06-03 was drilled between two earlier Texasgulf/Kidd Creek drillholes, spaced 100 m apart on surface, which intersect what is thought to be essentially the same zone. These parallel holes report similar values, 79 m of 0.15% WO3 and 0.027% MoS2 in a near-surface intersection in SSN-36 and 81 m of 0.12% WO3 and 0.062% MoS2 in a deeper intersection (200 m vertical depth) in SSN-37. More work is required to correlate these intersections with more precision.

Zone III was defined by only 13 drill holes during exploration by Texasgulf/Kidd Creek Mines in the period 1978 to 1982. The primary objective of the present drill program is systematic definition of the tungsten-molybdenum resource in Zone III, which will lead directly into an independent 43-101 study. This present program is focussing on infill drilling between the older holes and on extending the zone of mineralization along strike in both directions and to depth. It will be the first phase of a 10,000 m drill plan for 2006. In the next few months, it calls for 5,400 m of fence-drilling on the known area of mineralization and 1500 m of drilling in the gap between Zone III and the two copper-tungsten zones to the north (Zones I and II).

To this point, thirteen drill holes have been completed or are in progress. Further assays will be reported on a batch system as they become available.

Jack Marr, M.Sc., P. Geo., is the QP for the project in relation to N.I. 43-101.

On behalf of the board of directors

Geodex Minerals Ltd.

"Jack M. Maris"

Jack M. Maris

President

For further information contact: Christopher R. Anderson, V.P Business Development

(604) 689-7771, Toll free 1-888-999-3500

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