Geodex strengthens it's Board of Directors
Vancouver, B.C. - May 28, 2007 - Geodex Minerals Ltd. (TSX-V: GXM) (the 'Company') is pleased to announce that Clem Pelletier, B.Sc. has agreed to join the Board of Directors of the company. The addition of Mr. Pelletier will strengthen the board considerably as the company moves the Sisson Brook tungsten-molybdenum-copper discovery in New Brunswick towards development. The company has now received the full NI 43-101-compliant resource estimate report from its independent consultants, Mercator Geological Services Limited, and is now drilling to upgrade the resource and initiate engineering work.
Mr. Pelletier has been involved with the mining industry for 40 years. He is presently President and CEO of Rescan Group which provides engineering and environmental services to the mining industry on a world wide basis. He is a process chemist by training and has worked as a metallurgist and environmental engineer in the mining industry for 14 years prior to becoming an executive with Rescan. Mr. Pelletier is a founding partner and Director of Bioteq Environmental Technologies Inc., a successful publicly traded company on the TSX. He brings extensive mining, licensing and permitting experience as well as public trading company experience to Geodex Mineral Group. We are very pleased to have Mr. Clem Pelletier join our team as a director.
The company also announces that pursuant to its stock option plan, it has granted one million options to directors, consultants and employees. These will all be exercisable at a price of $ 0.75 for a period of five years.
About Geodex Minerals
Geodex Minerals Ltd. is a Canadian-based resource company with a focus on the exploration and development of three important properties in New Brunswick. The company has a 70% interest in their Sisson Brook flagship property which was shown in a recent independent report to contain an open-pittable molybdenum/tungsten resource of up to 167 million tonnes. At the Mount Pleasant West group of properties in southwestern New Brunswick, Geodex is considered the world's largest landholder of premium indium exploration ground.
Jack Marr, M.Sc., P.Geo, is the in-house QP for these projects.
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.org
Renmark Financial Communications Inc.
Neil Murray-Lyon : nmurraylyon@renmarkfinancial.com
Christine Stewart : cstewart@renmarkfinancial.com
Tel: (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED THE CONTENTS OF THIS NEWS RELEASE AND ACCEPTS NO RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY THEREOF.
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Geodex Minerals Ltd
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EXPLORATION STAGE |
CODE : GXM.V |
ISIN : CA3719372029 |
CUSIP : 371937103 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
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. Geodex is listed in Canada and in United States of America. Its market capitalisation is CA$ 347 478 as of today (US$ 270 748, € 232 654). 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. |