Inferred resource up at Sisson Brook (October 17, 2007)

Based on drilling from the current field season, Geodex Minerals (GXM-V) has increased the tonnage at its Sisson Brook tungsten-molybdenum deposit in west-central New Brunswick by about 70%.

Geodex announced a new resource estimate on the deposit, about 55 km northwest of Fredericton, covering Zone III, the southernmost of three mineralized zones on the project. The inferred resource there now stands at 109 million tonnes at grades of 0.084% tungsten oxide (WO₃) and 0.032% molybdenum, using a cutoff grade of 0.125% WO₃-equivalent. A resource calculation in March 2007 using the same cutoff grade put the inferred resource at 64.4 million tonnes grading 0.084% WO₃ and 0.034% molybdenum.

Taking the cutoff grade down to 0.025% WO₃-equivalent pushes the tonnage to 291 million tonnes at grades of 0.059% WO₃ and 0.02% molybdenum. The previous estimate at the same cutoff grade amounted to 167 million tonnes at similar grades.

WO₃-equivalent grades are based on the WO₃ grade plus 2.97 times the molybdenum grade, reflecting prices of the two commodities from January 2004 through to the end of January 2007.

Two other zones, I and II, which together are about the same size as Zone III but with dominantly copper mineralization, are not part of the resource estimate. The 2007 drilling included in the resource estimate represents about a quarter of the total drilling Geodex will do on the project this year.

Metallurgical testing is underway, and initial geotechnical and environmental data is being gathered. Consultants are also at work on a preliminary economic assessment.