News Release October 7, 2008 Trading Symbol : GXM - TSX.v and Frankfurt : G2WGeodex Minerals Ltd. (�Geodex�) announces that it has closed a Non-Brokered flow-through private placement financing of $541,500. Geodex will issue 1,805,000 flow-through common shares at $0.30 per share. Proceeds from the financing will be used for ongoing exploration and development of Geodex's Sisson Brook and Mount Pleasant West properties in New Brunswick. The company continues to push its flagship property, the Sisson Brook tungsten-molybdenum deposit, towards Pre-Feasibility in April 2009. Metallurgical testwork is ongoing with related programs in 2008 such as environmental and geotechnical being prepared for inclusion in the report. The Mount Pleasant West drilling program, funded by TeckCominco is underway at the present time.Securities being issued under this financing are restricted from trading until February 4, 2009. Commissions of $14,490 were paid in connection with the financing. The financing is subject to final TSX Venture Exchange approval.DisclaimerCertain information regarding the Company contained in this press release may constitute forward looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, opinions, forecasts, projections or other statements that are not statements of fact. Although the Company believes that expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees.ON BEHALF OF THE BOARD OF DIRECTORSGEODEX MINERALS LTD.Jack M. Maris, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
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Geodex is a gold and copper exploration company based in Canada.
Geodex holds various exploration projects in Canada.
Its main exploration properties are HARRY BROOK, MOUNT PLEASANT, ARMSTRONG BROOK, TURNBULL MOUNTAIN, VICTORIA LAKE PROPERTY, SISSON BROOK, TAMARACK LAKE, CRANBERRY LAKE and NEREPIS-CUNNINGHAM BROOK in Canada.
Its stock quote reached its highest recent level on January 18, 2008 at CA$ 99.00, and its lowest recent point on January 01, 2016 at CA$ 0.01.
Geodex has 2 779 827 shares outstanding.