Geodex Minerals Ltd.

Geodex Minerals Ltd.

January 19, 2010 14:02 ET

Geodex Announces Unit Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire – Jan. 19, 2010) - Geodex Minerals Ltd. (TSX VENTURE:GXM)(FRANKFURT:G2W) ("Geodex") announces that it will proceed with a non-brokered private placement of up to 10 million units of Geodex (the "Units") at $0.11 per Unit. Each Unit will be comprised of one common share and one warrant. Each full warrant is exercisable into one additional Geodex common share at $0.20 per share for a period of 24 months from closing. Proceeds from the private placement will be used for general corporate purposes.

Geodex may pay a finder's fee on a portion of the financing in accordance with TSX Venture Exchange guidelines. All securities issued on the proposed private placement will be subject to a four month hold period. Not more than 20% of the private placement will be subscribed for by non-arm's length parties. The private placement is subject to TSX Venture Exchange approval. The private placement will not result in a change of control of Geodex.


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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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