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Geodex Minerals Ltd. (the "Company") is pleased to announce that it has completed a Nonbrokered private placement of 1,430,000 units at a price of CDN$0.35 per unit for total gross proceeds of $500,500.00 Each unit consists of one flow-through common share in the capital of the Company and one half of one share purchase warrant, with each whole warrant entitling the holder to acquire one additional non-flow through common share at the exercise price of $0.50 for a period of 18 months expiring on April 13, 2008. The Company paid a finders' fee by issuing 114,400 common shares at a deemed value of $0.35 each. The company also issued 143,000 agents' options, which have the same terms as the share purchase warrants. The shares, warrants and agents' options, as well as any shares issued pursuant to the exercise of the share purchase warrants and agent's options, are subject to a hold period expiring on February 13, 2007.

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