Geodex Minerals Ltd.
TSX VENTURE : GXM
FRANKFURT : G2W

Geodex Minerals Ltd.

May 15, 2008 14:50 ET

Geodex Appoints Two New Directors to Its Board and Provides Sisson Brook Progress Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2008) - Geodex Minerals Ltd. ('the Company') (TSX VENTURE:GXM)(FRANKFURT:G2W) is pleased to announce the addition of two new directors to its board. Mr. David M. Buckle and Mr. Neil S. Seldon will strengthen the board with their areas of expertise in corporate finance and sales negotiations which will be essential as the Company develops the bulk-tonnage Sisson Brook tungsten-molybdenum-copper deposit towards production.

Mr. David M. Buckle is resident in the United Kingdom and is currently Executive Chairman for PMI Goldcorp, a near term producer with deposits in Ghana. Mr. Buckle holds a BSc (ChemEng) and an MBL (business leadership). He was Senior Vice-President at Unilever where he was engaged as a senior finance executive in extensive business planning, emerging market roles and has been a director for 14 years, of which nine were in publicly quoted companies. Mr. Buckle served as Chief of Staff to the PLC Chairman and prior to that he was Overseas Treasurer and Group Finance Director for the company's activities in India and Pakistan. Mr. Buckle has extensive business experience in both small and large companies with market capitalizations ranging from 400 million pounds to five billion pounds (GBP).

Mr. Neil S. Seldon is President of Neil S. Seldon and Associates ("NSA"), a Vancouver-based company founded in 1980. NSA acts as consultants and advisors in the marketing of non-ferrous concentrates and other minerals and metals to clients around the world. Mr. Seldon is a graduate of the Royal School of Mines in London and served in a senior capacity in metal marketing for several operating mining companies prior to starting NSA. He brings to the board expertise and depth in marketing, sales negotiation, market studies and feasibility input. Mr. Seldon is Non-Executive Chairman and a Director of Bloomsbury Minerals Economics Ltd in London, England, involved in copper market analysis and interactive fundamental investment based metal price modeling.

"The experience both these men bring to the board will be invaluable in helping to develop and expand our exciting tungsten-molybdenum-copper deposit at Sisson Brook. Our focus on building a world-class team will be enhanced with the addition of Mr. Buckle and Mr. Seldon. We are fortunate to now have them actively involved in the board" says Geodex President, Jack Maris.

The company is pleased to announce that Blaine Bailey (CGA) has been appointed Chief Financial Officer and Secretary of the Company. John W. Jardine has resigned from the board of directors and as Chief Financial Officer due to other commitments.

The board of directors wishes to thank Mr. Jardine for his contribution and expertise over the last 10 years.

Sisson Brook Update:

Geodex Minerals expects to receive a new block model and resource estimate for its Zone III tungsten-molybdenum deposit at Sisson brook in the next week. This will incorporate all the 2007 drilling on Zone III (including the East Flank area) and move the status of the resource to Measured and Indicated. Geotechnical, environmental and engineering activities are now fully underway in preparation for a pre-feasibility report to be completed by Wardrop Engineering in September 2008. The company will also be mobilizing drills in early May to test various mineralized areas around Zone III and explore the company's extensive land positions in the district.

Jack Marr, M.Sc., P.Geo. is the in-house QP for this project.

The company also announces that pursuant to its stock plan, it has granted 400,000 options to directors and employees. These will be exercisable at a price of $00.75 for a period of five years.

About Geodex Minerals

Geodex is a Vancouver-based exploration and development company with its operations entirely in New Brunswick. It has focused since 2005 on the granite-related suite of metals, tungsten, molybdenum, tin, zinc and indium with which the province is particularly well endowed.

Activities are concentrated in two main areas. North of the city of Fredericton, where the company maintains a regional office, the Sisson Brook tungsten-molybdenum-copper deposit is at a pre-feasibility development stage. It is an uncommon bulk-tonnage deposit which will be open pit mined in an area of crown land with excellent logistics. The other sphere of operations lies south of Fredericton, surrounding the former Mount Pleasant mine, where a large land position protects ten prospects under active exploration. Some have returned very promising grades and drilling widths. These are more polymetallic, are particularly enriched in indium and are more likely to be underground high-grade lode deposits.

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.

On Behalf of the Board of Directors

GEODEX MINERALS LTD.

Jack M. Maris, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

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