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Geodex Minerals Ltd. (TSX-V:GXM), ("Geodex") announces that it has closed a non-brokered private placement of 5,418,500 units at a price of $0.10 per unit for total proceeds of $541,850. Each unit is comprised of one common share and one share purchase warrant to purchase one additional common share at $0.20 per share for two years following closing of the private placement. Geodex may force conversion of the outstanding warrants on 30 days notice to the warrant holders in the event Geodex's shares close at a trading price of $0.50 or greater for 20 consecutive trading days. No commission is being paid with respect to this private placement.

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