Inferred resource up at Sisson Brook (November 19, 2007)

Based on drilling from the current field season, Geodex Minerals (GXM-V, GXMLF-O) 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 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 under way, and initial geotechnical and environmental data is being gathered. Consultants are also at work on a preliminary economic assessment.

Geodex has also intersected molybdenum-tungsten mineralization in the first hole on an extension of Zone III called the East Flank Zone, discovered in definition drilling on Zone III earlier in the field season. Tungsten grades in the hole are similar to the resource grade on Zone III, but molybdenum grades are significantly higher.

Hole SB07-53 cut a 251.3-metre core length that averaged 0.073% WO3 and 0.12% molybdenum. Within that, an 85.5-metre interval ran 0.08% WO3 and 0.31% molybdenum.

The current program testing the East Flank Zone consists of 11 holes; some are already complete but assays are pending. The new zone is about 450 metres in strike length with drill intersections to 220 metres depth, and merges with the larger Zone III at its north end. A 500-metre-deep hole is planned on the East Flank before the drill is moved to Geodex’s Mt. Pleasant project south of Fredericton.

Another drill will remain on the property for infill drilling on Zone III.