Company Information for Geodex Minerals Ltd

Company stock charts - 12 Month chart

TSX; GXM View full financial data

Company Statement

Geodex Minerals Ltd. (TSX.V: GXM) flagship project is Sisson Brook, a large, open-pittable tungsten-molybdenum-copper deposit located near Fredericton, in the central part of the province. In November, 2007, Geodex received a positive Preliminary Economic Assessment or Scoping Study on Sisson Brook prepared by Wardrop Engineering Inc. and the company is presently working towards the completion of a pre-feasibility study in September, 2008.

Geodex’s second major project is Mount Pleasant West, a large claim block located adjacent to the Mount Pleasant mine south of Fredericton. This mine, presently owned by Adex Mining Inc., was operated briefly by Billiton in the mid-1980s and contains deposits of molybdenum-tungsten and tin-indium. Geodex’s focus is on the indium potential in the Mount Pleasant camp and the company’s land holdings cover what is probably the world’s largest area of premium indium exploration targets.

Current Operations

Sisson Brook
Located north of Fredericton, New Brunswick, Sisson Brook is Geodex’s flagship property. Total expenditures to the end of the 2007 exploration program are estimated to be $6 million.

Texas Gulf / Kidd Creek Mines explored at Sisson Brook in the late 1970s and outlined three zones of disseminated and fracture-controlled porphyry-style mineralization - two tungsten – copper bodies and a larger molybdenum – tungsten zone. Since early 2005, Geodex has completed approximately 29,000 metres of diamond drilling, which has greatly expanded the deposit. Geodex’s 2007 work shows that the zones are not discrete bodies, but are part of a larger hydrothermal system, the extent of which remains to be determined.

Mercator Geological Services of Halifax prepared an independent inferred resource estimate (News Release, March 28, 2007) for the Sisson Brook deposit based on historical Kidd Creek drilling plus the 2006 Geodex drilling results. The resource estimate was updated (News Release, October 17, 2007) using assay results received from the first 17 holes drilled in the 2007 program.

All assays from the 2007 drilling program should be available by late February, 2008 with an updated block model and resource calculations completed by Mercator soon afterwards. It is expected that this will advance the status of the Sisson Brook deposit resources from the ‘inferred’ to the ‘measured and indicated’ categories.

Engineering work is also being carried out concurrently by independent contractors to prepare an environmental baseline study, to conduct site studies, to advance the geotechnical database and to develop a more extensive metallurgical testing program. Geodex is also drill-testing several new areas on the claims, including the Goodwin tungsten discovery and the Ellipse zone.

The scoping study has provided an overall preliminary economic assessment and outlined a plan by which the project will be advanced to succeeding pre-feasibility and feasibility stages. It considers all development aspects, including geotechnical, open-pit mining, process engineering, infrastructure, environmental, capital costs, operating costs and economics.

Mount Pleasant West
Geodex’s Mount Pleasant West Project comprises a 10 km by 20 km block of claims adjacent to the formerly-producing Mount Pleasant mine (owned by Adex Mining Inc.) and located south of Fredericton in southwestern New Brunswick. Geodex’s land position includes claims acquired by staking and through joint venture agreements with other companies. As is the case at Sisson Brook, Mount Pleasant West is well-located in an area with excellent logistics and infrastructure.

Billiton Exploration Canada Ltd. produced molybdenum and tungsten at Mount Pleasant between 1983-1985 at a milling design rate of 650,000 tonnes/year. The mine closed due to falling metal prices. In addition to the molybdenum and tungsten ore bodies, Billiton also delineated important underground resources of tin and indium. The Mount Pleasant mine-site still exists with hydro, mine and mill buildings and tailings facilities.

Geodex was an early participant in the renewed exploration activities in the Mount Pleasant camp, attracted by the excellent potential for further discoveries and the rapidly escalating prices for the metals present at the Mount Pleasant mine The price of indium in particular has soared from price of US$70 / kilogram in 2001 to as much as US$ 1,000 / kilogram in 2006 and is worth approximately US$690 / kilogram in early 2008.

Following research of available government data of the area around the mine, Geodex accumulated a large land position covering numerous historic showings, soil geochemical anomalies and mineralized boulders which had never been adequately followed up due to the 1980s collapse in metal prices.

Geographical Spread

All projects are located in the province of New Brunswick, Canada

Board of Directors and Key Management

Jack M. Maris	President, Director
Jack M. Marr	V.P. Exploration, Director
Jack Patterson	Director
John Jardine	CFO, Director
Neil D. Humphreys	Chief Geologist, Director
Clem Pelletier	Director
Chris Anderson	VP Business Development
Dave Martin	Regional Manager New Brunswick
Sheila Watters	Senior Geologist
William Gardiner	Advisory Board
Dave Sinclair	Advisory Board
Raymond Dujardin	Advisory Board

Company Address 450 - 800 West Pender Street Vancouver, British Columbia, Canada V6C 2V6 Telephone: +1 604 689 7771 Facsimile: +1 604 689 5528 Email: info[at]geodexminerals.com Website: http://www.geodexminerals.com

Capital Shares Outstanding: 65 million Fully Diluted: 66.4 million

Broker/Analyst Reports

14/04/08 - Junior Mining - New Brunswick mulls fate of major tungsten/moly/copper mining project
11/04/08 - CBC News Article

Related News

03/11/08 - Geodex Minerals Engages In Some Belt-Tightening On Its Tungsten Properties, But Overall The Fundamentals Still Look Good
07/04/08 - This May Be Tungsten’s Year And Geodex Has Plenty Of Tonnage And Near Term Production To Take Advantage
09/05/07 - Geodex Is Sitting on Two Potential Winners In New Brunswick

Most Recent Statement

31/10/08 - Geodex requires comprehensive impact assessment for the Sisson Brook Tungsten-Molybdenum project, New Brunswick
07/10/08 - Geodex Closes Private Placement
22/09/08 - Geodex Reports Future Development Plans for Sisson Brook Zone III Tungsten-Molybdenum Deposit, New Brunswick
11/09/08 - Geodex corrects and removes technical material from its website at the request of the British Columbia Securities Commission
20/08/08 - Geodex starts drill program on five target areas in the Mount Pleasant Camp, New Brunswick.
08/08/08 - Geodex Launches Up Graded 3-D Model of Sisson Brook Propety