GXM

Geodex Minerals Ltd. (TSX VENTURE:GXM)(FRANKFURT:G2W) (the "Company" or
"Geodex") is pleased to describe the initial acquisition in conjunction with its
strategy and plans for 2011. The Sisson tungsten-molybdenum project joint
venture agreement with Northcliff Resources Ltd. of the Hunter Dickinson Inc.
group in October 2010 was a watershed event for Geodex. The $13.7 million Sisson
feasibility study and Environmental Impact Assessment ("EIA") are progressing
well as previously reported (see March 29, 2011 press release). With the Sisson
joint venture under a strong mine development group such as Hunter Dickinson,
Geodex has been able to focus on other projects in its New Brunswick portfolio
as well as to actively acquire additional projects that will complement its
Sisson flagship project. The intent is to deliver another significant deposit to
its shareholders. Geodex already owns the Mount Pleasant West
tin-tungsten-indium-rare earth element project which covers a large 20km by 10km
block around Adex Mining Inc's formerly producing Mount Pleasant Mine, for which
a feasibility study is being planned. 


Geodex has undertaken an initiative to evaluate and generate other opportunities
with a focus on central and southern New Brunswick. This initiative is
continuing. The intent is to build upon Geodex's recognized expertise and
successes over the past seven years in New Brunswick, Sisson and Mount Pleasant
West being the best examples. Geodex has successfully applied exploration
methods to explore the till covered terrain that is prevalent throughout this
region, masking deposits such as Sisson. The exploration portfolio, all in New
Brunswick, is an important element of Geodex's full value.


Jake Lee Project

Geodex has acquired by staking the Jake Lee project covering approximately 3800
hectares located 80km south of Fredericton. Geodex will conduct an exploration
program focused on the rare earth elements ("REE") potential with a secondary
focus on gold and base metals based on the geology and supported by regional
government sampling and assessment report data.


The Jake Lee project is underlain by the Jake Lee Mountain Granite, a northeast
trending intrusive complex. The intrusion is documented as exhibiting a
lithological zonation and peralkaline chemistry similar to that of the Welsford
Granite (a complex of syenite, granite and gabbro) which occurs approximately 25
km northeast of the Jake Lee Granite and hosts the McKeel Lake REE occurrence.
Government data has defined magnetic and spectrometric thorium and potassium
anomalies within the Jake Lee claim group. Assessment reports document soil
samples and stream sediment samples anomalous in lanthanum (respectively up to
1210 ppm and 780 ppm), as well as phosphorous and molybdenum. These very
anomalous levels are indicative of the REE potential, as only lanthanum of the
REE suite was included in the analyses during previous exploration. 


In addition to the REE potential there have been very elevated gold values,
including gold bearing float rock samples, reported from the area covered by the
new claims. Multiple stream sediment and soil samples were reported in excess of
100 ppb gold including 3580 and 5280 ppb gold, although the results have been
generally been erratic. There have also been anomalous base metal values
associated with structural zones. 


Geodex will conduct an initial exploration program analyzing for REE as well as
other metals. The prospective geology and structures provide encouragement that
Geodex will be able to rapidly evaluate the potential of this new project. Over
the past seven years in New Brunswick, Geodex has successfully applied
exploration methods to advance projects such as Jake Lee from an initial
evaluation process to first pass drilling, often during the first year of
exploration. Geodex will provide details of the 2011 exploration program and
timing for its New Brunswick projects when it is finalized.


David Martin, B.Sc., P.Geo., CGA, Geodex's Vice President, New Brunswick, is a
qualified person under NI 43-101 and is responsible for the design and conduct
of the programs carried out by the Company on the Jake Lee Project. Mr. Martin
has reviewed this release and approved its contents.


ON BEHALF OF THE BOARD OF DIRECTORS GEODEX MINERALS LTD.

Mark Fields, President & CEO

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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