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Abstract
(Marketwire - June 5, 2008) - Geodex Minerals Ltd. (the 'Company') (TSX VENTURE:GXM)(FRANKFURT:G2W) is pleased to report receipt of an updated resource estimate for its Sisson Brook deposit, located north of Fredericton, New Brunswick. This resource estimate confirms the expanding size of the resource in Zone III and for the first time places a proportion of the resource in the much more reliable 'Measured and Indicated' categories. As in previous resource estimates, this study was independently prepared by Mercator Geological Services Limited (Mercator) of Dartmouth, Nova Scotia under supervision of Mr. Michael Cullen, P. Geo. and Mercator staff Geologist Mr. Matthew Harrington. Mr. Cullen is a 'Qualified Person' as defined under National Instrument 43-101 (NI 43-101). The estimate is considered compliant with NI 43-101 and a Technical Report supporting the estimate will be posted on SEDAR within 45 days.
The resource estimate was carried out using Surpac(R) modeling software, inverse distance squared grade interpolation and 3.0 meter down hole assay composites capped at 0.35% Mo and 0.6% WO3. Block size was 10 meters (x) by 10 meters (y) by 5 meters (z) with sub-blocking at 5 meters (y) by 5 meters (x) by 5 meters (z). A grade interpolation search ellipse with major axis range of 175 meters oriented at 010 azimuth in a vertical plane and plunging 50 degrees to the north was used with a major/semi major axis ratio of 1 (175 meters) and a major/minor axis ratio of 10 (17.5 meters). The model is fully constrained within a peripheral three dimensional solid. A specific gravity factor of 2.87 grams/centimeter3 was used for mineralization hosted by gabbro and a factor of 2.77 grams/centimeter3 was used for mineralization hosted by mixed volcanic and sedimentary lithologies. A WO3 Equivalent (WO3 Eq.) factor of WO3 Eq.% equals WO3% +(Mo% x 3.35) was developed on the basis of 3 year metal pricing, 70% WO3 recovery and 85% Mo recovery factors reported in the project scoping study by Wardrop Engineering Inc. dated November 7, 2007. Several cutoff values were used, the lowest at 0.025% WO3 Eq.