April 21, 2009 News Release
For Immediate Release
News Release Video Presentation
Christopher R. Anderson - V.P. Business Development presents and explains the News Release from April 21, 2009.
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Geodex Increases Tungsten Land Position
TSX.V: GXM Frankfurt: G2W Pink Sheets: GXMLF
Geodex Minerals Ltd. (the "Company") reports that it has entered into an option agreement to acquire a 90% interest in the Flume Ridge property, located in Charlotte County, New Brunswick. The property is comprised of 63 claim units optioned from Southfield Resources Ltd. and Campfire Resources Ltd. (collectively the "Optionors"). The Company can earn its 90% interest by paying the Optionors a total of $30,000 and 150,000 Geodex shares over a three year option period. The Optioners are carried on their 10% retained interest in the Property to the start of commercial production. Minimum work commitments by Geodex are $20,000 in year one and $100,000 by the end of year three. The Optioners will retain a 2.0% Net Smelter Royalty of which Geodex will have the right to purchase up to 1% at any time, for the sum of $500,000 per 0.5%.
MOUNT PLEASANT WEST PROPERTY
The Flume Ridge property lies immediately northwest of the Company's Mount Pleasant West project and near the formerly-producing Mount Pleasant tungsten-molybdenum mine, owned by Adex Mining Inc. Flume Ridge claims cover an area of tungsten anomalies in soil and stream sediment samples found by government surveys. The anomalies are found in the vicinity of several isolated aeromagnetic anomalies which may reflect buried intrusions. This part of the province has not previously been systematically explored for tungsten deposits. Widely-spaced soil samples collected by the Optioners show tungsten values ranging up to 33 ppm over a length of about 500m. Multiple float boulders of calc-silicate sedimentary rocks found within the soil anomaly contain scheelite in quartz veins and have returned tungsten assays up to 0.86% WO3. Geodex believes there is good potential for intrusion and skarn-hosted tungsten deposits at Flume Ridge and is planning a program of prospecting and soil geochemistry to identify drill targets on the property. Neil Humphreys, M.Sc., P. Geo. is the in-house QP for the project in relation to N.I. 43-101 resources
Forward Looking Statement
Certain 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 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, Email: info@geodexminerals.com Visit our website at www.geodexminerals.com
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Suite 450 - 800 West Pender Street, Vancouver, B.C., Canada, V6C-2V6 Tel: 604-689-7771, FX: 604-689-5528 Toll Free: 888-999-3500 E-Mail: Info@Geodexminerals.com Website: www.GeodexMinerals.com
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Anderson Financial Marketing | 450-800 West Pender Street | Vancouver | BC | V6C 2V6 | Canada
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.