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05.11.2009
GEODEX ANNOUNCES UNIT PRIVATE PLACEMENT
GEODEX ANNOUNCES UNIT PRIVATE PLACEMENT

Geodex Minerals Ltd. (TSX-V:GXM), (“Geodex”) announces that is has engaged Vicarage Capital Limited (“VCL”) as agent to assist in the private placement of up to 15 million units of Geodex (the “Units”) at $0.15 per Unit. Each Unit will be comprised of one common share and one half warrant. Each full warrant is exercisable into one additional Geodex common share at $0.25 per share for a period of 24 months from closing. The warrants will carry a conversion feature if the weighted average trading price of Geodex’s shares is at or above $0.40 per share for 30 consecutive trading days. Proceeds from the private placement will be used to advance the pre-feasibility study for Geodex’s Sisson Brook project and for general corporate purposes.

VCL will receive a cash commission of eight percent (8%) of the proceeds which it raises and broker’s warrants equal to eight percent (8%) of the number of Units which it places. The broker’s warrants will be exercisable for a period of 24 months at a price of $0.15 per share. The broker’s warrants will carry the same conversion feature as carried by the warrants forming part of the Units.

All securities issued on the proposed private placement will be subject to a four month hold period. Not more than 20% of the private placement will be subscribed for by non-arm’s length parties. The private placement is subject to TSX Venture Exchange approval. The private placement will not result in a change of control of Geodex.

ON BEHALF OF THE BOARD OF DIRECTORS
GEODEX MINERALS LTD.

Mark Fields,
President & CEO

For further information, please contact:

Investor Relations

Liana Shahinian, BBA
ir@geodexminerals.com

Erick Bertsch
bertsch@geodexminerals.com

(604) 689-7771, Toll free 1-888-999-3500
Visit our website at www.geodexminerals.com

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.



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